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Google moved €19.9B to Bermuda in 2017; TEGNA, Verizon end retrans dispute


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Google moved €19.9B to Bermuda in 2017; TEGNA, Verizon end retrans dispute

Top News

* Google LLC channeled €19.9 billion ($22.7 billion) to Bermuda in 2017 through a Google Netherlands Holdings BV, Reuters reports, citing documents filed at the Dutch Chamber of Commerce. The amount was about €4 billion more than the amount shifted through the Dutch shell company in 2016, according to the documents. "We pay all of the taxes due and comply with the tax laws in every country we operate in around the world," the Alphabet Inc. unit said in a statement.

* As nascent technologies start becoming consumer realities, interesting gizmos and gadgets will be spotlighted at the world's largest technology conference next week. There has been an increased focus in recent years at CES on solutions expanding beyond personal devices to streets and cities.

* TEGNA Inc. stations became available to Verizon Communications Inc. customers after the companies reached a multiyear retransmission consent agreement. Three TEGNA stations WUSA, the CBS (US) affiliate in Washington, D.C.; WVEC, the ABC (US) affiliate in Norfolk, Va.; and WGRZ, the NBC (US) affiliate in Buffalo, N.Y., went dark for Verizon's Fios customers after the two parties failed to reach a renewal by 5 p.m. on Dec. 31, 2018.

* U.K. operators' exposure to Huawei Technologies Co. Ltd. was brought into sharp focus by the recent arrest of a top executive at the Chinese telecom giant. Cutting commercial ties with the vendor could be difficult, analysts said.


* Apple Inc. recorded $1.22 billion in App Store spending between Christmas Eve and New Year's Eve. Customers spent more than $322 million on New Year's Day 2019 alone, according to a news release.

* QUALCOMM Inc. has posted security bonds totaling €1.34 billion to enforce a permanent injunction against Apple's iPhones in Germany. The bonds were posted as part of a legal requirement by the District Court of Munich, which on Dec. 20, 2018, banned the sale of iPhones in Germany that were found to have infringed the chipmaker's patented power savings technology used in smartphones.


* Charter Communications Inc.'s Spectrum unveiled a new Spectrum TV app for Apple TV, reports. The new app allows subscribers to access live and on-demand Spectrum content.

* "The Punisher" will return to Netflix Inc.'s streaming service for a second season on Jan. 18, according to a post on the show's Twitter Inc. platform. The show features Jon Bernthal as Marine veteran Frank Castle who becomes the vigilante known as "The Punisher."

* Facebook Inc.'s Watch platform will premiere multi-part series "Mormon Love" on Jan. 13, reports. Filmed across the summer, the series will follow Josie, Garrett, Lexi, Jesse and Braxton as they try to navigate growing up, their religion and the search for their soulmates.


* The U.S. Federal Communications Commission suspended most operations Jan. 3, which included pausing the shot clock on the proposed merger between T-Mobile US Inc. and Sprint Corp., and comment periods on proposed rules. However, the agency was able to release a tentative agenda for its monthly open meeting, which is scheduled for Jan. 30.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, Hang Seng rose 2.24% to 25,626.03, while the Nikkei 225 was down 2.26% to 19,561.96.

In Europe, around midday, the FTSE 100 increased 1.40% to 6,786.47, and the Euronext 100 was up 1.25% to 908.69.

On the macro front

The Employment Situation report, the PMI Services Index, the EIA Natural Gas Report, the EIA Petroleum Status Report and the Baker-Hughes Rig Count report are due out today.

Featured news

The Daily Dose Europe: Qualcomm moves to ban sale of iPhones in Germany; Mediaset, Sky Italia sign deal: Qualcomm posted security bonds required to enforce a ban on iPhone sales in Germany, while Mediaset SpA and Sky Italia SRL agreed on a new distribution deal.

South Korean OTT platforms Oksusu, POOQ to merge; Baidu wins case against TikTok: SK Telecom Co. Ltd. revealed plans to merge its mobile media platform Oksusu with over-the-top service POOQ, while Beijing's internet court dismissed the copyright lawsuit of short video app TikTok against Baidu Inc.-backed streaming platform Huopai.

The Daily Dose Asia-Pacific: Apple cuts revenue outlook as China sales weaken; SoftBank to focus on Asia: Apple cut its fiscal 2019 first-quarter revenue forecast due to weaker-than-expected iPhone sales in Greater China, while SoftBank Group Corp. plans to increase its venture investments globally with a focus on Asia.

Hires and Fires: US Senate confirms FCC commissioners; Netflix gets new CFO: The U.S. Senate confirmed Geoffrey Starks as a commissioner of the Federal Communications Commission and Commissioner Brendan Carr for a new full term, while Netflix confirmed Spencer Neumann will be the company's new CFO.

Netflix pulls comedy show episode in Saudi Arabia; iflix exits Africa: Netflix took down an episode of "Patriot Act with Hasan Minhaj" in Saudi Arabia, while iflix Sdn. Bhd. sold its stake in Kwesé iflix to Econet Global.

Featured research

Global Multichannel: Latin American multichannel, broadband market 2018 recap: DIRECTV launches the region's first virtual multichannel service; M&A activity drives consolidation in Central America; ETB improves its financials.

Economics of Internet: Top 20 most read Economics of Internet articles in 2018: It comes as little surprise that over-the-top topics dominated our Economics of Internet coverage in 2018 based on page views, with 2019 likely to deliver more of the same.

Global Multichannel: Colombia fixed-broadband revenues to reach $3.4B by 2027: The Colombian fixed-broadband industry is expected to service 6.9 million connections by 2027, generating $3.4 billion in revenues. This report explores the Colombian broadband market, including forecasts and market shares by operator.

Multichannel Trends: See it in charts: US multichannel, December 2018: View U.S. multichannel trends at a glance in PowerPoint format. Key charts summarize the status of video subscribers, broadband competition, virtual service providers and other top sector trends.

Economics of Networks: Management of local MLB streaming rights best left to the teams: MLB teams managing digital in-market rights would streamline the process of getting deals done in time for the 2019 season, allow flexibility and spur innovation.

Economics of Internet: Connected TV viewing provides big bump for broadcast networks and cablenets: Most major U.S. broadcast and cable network sites have successfully surfed the over-the-top wave in 2018, with connected TV viewing providing a sizable lift.

Economics of Advertising: Business publications print ad revenue drops 6.0% in 2018: The proliferation of free content online, the continuous flight of ad dollars to digital platforms and the overall drop in circulation for print media are among the issues weighing on the advertising revenues of business publications.

Economics of Internet: State of US display advertising: Display advertising is nearly as old as the internet itself but the format continues to see revenue gains in the U.S. digital ad market as video ads and newer interactive display formats grow in popularity.

Wireless Investor: Global mobile IoT, postpaid and prepaid subscriber trends: Our analysis shows emerging economies suffer single-digit average revenues per user, high prepaid composition and low 4G uptake, while predominantly postpaid Europe and North America are leveraging their networks for advanced services.

Economics of Internet: State of Malaysian online video: subscription: Subscription video services in Malaysia are shifting from content aggregation toward content creation as they focus their investments on local original offerings.

Wireless Investor: Africa mobile, 4G, spectrum and tower roundup: With 4G penetration still low, it will be a while before the service could aid single digit ARPUs across five African markets we cover. Measures for cost cutting have been prevalent in 2017, likely to increase low spectrum inventory among operators.

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