Good morning! Here’s the tech news you need to know this Tuesday.
1. Japan’s SoftBank confirmed that it intends to acquire the British chip designer ARM Holdings for £24.3 billion ($32 billion). The deal is believed to be the largest-ever acquisition of a European technology business.
2. Yahoo earnings were right on track in the company’s second quarter results, with revenues of $1.31 billion (£991 million). The company’s losses still increased to $440 million (£333 million).
3. Uber has completed its 2 billionth trip. The ride-hailing startup announced on Monday that it hit the milestone on June 18th, six months after reaching 1 billion rides.
4. Google is secretly building an augmented reality-style headset, according to reports. The rumours are indicative of just how important AR and VR are becoming for the industry’s major players.
5. Two teens in Florida were shot at while playing “Pokémon Go”. They were in a car when a man who reportedly mistook them for burglars fired several bullets at their vehicle.
6. Yahoo wrote down $482 million (£365 million) in impairment costs from Tumblr, the social media site it bought for $1.1 billion (£832 million) in 2013. That’s the second time Yahoo wrote off Tumblr’s value this year.
7. Apple is proposing a radical change to the way artists are paid when their music is streamed online. The suggestion could hurt rivals like Spotify and Google.
8. Vana Koutsomitis, a runner-up on TV show “The Apprentice,” is looking to raise £120,000 for her dating app. She is hoping to raise the money on Seedrs.
9. Peer-to-peer small business financing platform MarketInvoice has raised £7.2 million from a Polish private equity company. The raise comes despite question marks over Britain’s future relationship with Europe.
10. Silicon Valley has a problem, according to Riva-Melissa Tez, who is the cofounder and partner of AI-focused venture capital fund Permutation Ventures. That problem, she argues, is that it’s lost sight of what the word “problem” means.
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