Financial tech company PayPal clarified that it is not currently pursuing a deal to acquire image-sharing social platform Pinterest, shelving reports that surfaced last week, at least for the time being. PayPal stock rose approximately 3 percent while Pinterest shares fell 12 percent on news that the digital pinboard site was not being wooed to the tune of $70 per share, largely in stock, for a deal valued at roughly $45 billion. Assuming discussions were taking place, it’s hard to know if PayPal got cold feet, caving to a mostly negative market response, or decided now may not be the time to grow. Continue reading PayPal Not Planning to Acquire Image-Sharing App Pinterest

California governor Gavin Newsom’s office said that film and television shoots can begin again as soon as June 12. According to the California Department of Public Health, however, the county public health officers must first approve where the film, TV and music productions will take place. Further, everyone on the production must adhere to a detailed guide on how to reduce the risk of COVID-19 transmissions, including the end of craft services’ buffets and strict cleaning measures such as wiping down handheld props after every use. Continue reading California Okays Production for June 12, But Hurdles Remain

In an era of system hacks becoming more common, JP Morgan is the latest to report a massive breach of customer information. While the company believed a few weeks ago that only one million accounts were affected, it now reports that 76 million households and 8 million small businesses were part of the data breach. While recent breaches have largely involved retailers, some analysts are more concerned about the JP Morgan case, especially since banks tend to have more sensitive data about their customers. Continue reading Why Analysts Are Concerned About the JP Morgan Data Breach

Sprint is reportedly meeting with five different banks, including JP Morgan, Goldman Sachs and Deutsche Bank, to expedite its bid for rival T-Mobile. Insiders say that Sprint, which is owned by Japan’s SoftBank, hopes to finance much of T-Mobile’s estimated $50 billion price with corporate bonds. The remaining amount would likely be covered by syndicated loans and convertible bonds. Sprint, which is also working to ease regulatory concerns regarding the deal, is expected to make a formal offer by June or July. Continue reading Sprint in Talks with Banks to Fund Acquisition of T-Mobile

High-end camera sales have taken a dive this year, as the popularity of smartphones with powerful built-in cameras and related apps rises. Research firm IDC predicts shipments of digital single-lens reflex, or DSLR, cameras will decrease by more than 9 percent from last year. The two biggest camera manufacturers, Canon and Nikon, have even lowered their expected sales numbers, raising questions about whether consumers’ tastes are changing in an era of mobile devices. Continue reading DSLR Sales Impacted By Ease and Quality of Phone Cameras