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Apple Music Rival Spotify Could Get $500 Million Injection: Report

Apple ( AAPL ) Music and Pandora Media ( P ) rival Spotify could get a $500 million injection from TPG Capital, a major U.S.-based private equity firm, according to a British media report. The reported financing of Spotify comes amid continuing growth in the music-streaming sector and follows a share sale last year which valued the privately-held company — which has nearly 30 million paying subscribers — at about $8.5 billion, according to a report by Sky News late Friday. TPG Capital is discussing an investment of as much as $500 million to Spotify, which competes with Apple , Pandora, Alphabet ( GOOGL )-owned Google and other music-streaming services, Sky News said. Sky News reported that the money could be used to fund acquisitions, with talk of a major investment in Spotify coming on the heels of another report, this time from the New York Post, saying Samsung, Spotify and Google all examined a potential takeover  of music streaming service Tidal. Spotify has discussed creating an initiative that could produce a Tidal “powered by Spotify” partnership rather than an acquisition, the New York Post said on Thursday. An estimated 41 million people paid for a streaming music subscription services in 2014, according to IFPI, a London-based recording industry trade group that represents more than 1,300 record labels. TPG declined to comment on the report. Apple Music has 11 million paid subscribers, senior vice president Eddy Cue said earlier this month , up from 10 million paying customers at the beginning of the year. Apple Music began in June for Apple iOS users with three-month trial subscriptions, expanding to the Google Android operating system in November. Apple may be attracting members from its rivals, including Pandora, Amazon.com ( AMZN ), Google’s YouTube and Spotify. Apple stock slipped 0.3% in the stock market today , closing at 96.65. Pandora stock closed up 0.5% at 10.22. Image provided by Shutterstock .

Microsoft To Ship HoloLens Computer Glasses To Developers March 30

Microsoft ( MSFT ) announced Monday that it will begin shipping its HoloLens computer glasses to developers in the U.S. and Canada on March 30. It started taking pre-orders for the augmented reality goggles on Monday. The Development Edition of HoloLens costs $3,000 and is targeted to software developers and enterprises. Microsoft is taking a gradual approach to commercializing HoloLens. It wants to expand the software ecosystem and drive hardware costs lower before it expands availability for the product. Microsoft CEO Satya Nadella told the BBC last July that it could be a “five-year journey” to roll out the devices to consumers. The HoloLens developer kit comes with a handful of initial apps, including a Skype app, a 3D modeling app called HoloStudio, and HoloTour, an app that provides 3D virtual trips to global landmarks. It also has included three mixed reality games in the kits. “Today represents a monumental step forward,” Alex Kipman, a technical fellow in Microsoft’s operating system group, said in a blog post . “This is the first step in our journey to consumers. A step focused on our commercial partnerships and on supporting developers, who will help pave the way to consumer availability with amazing and new holographic experiences.” HoloLens glasses overlay digital images in a user’s field of vision, creating new ways to interact with data. Users can control what they see with verbal commands and gestures. Some experts predict that holographic computing will be the next step in personal computers. HoloLens is a fully untethered, self-contained, Windows 10 device. It does not have to link to a separate PC or mobile phone to work. The headset features a custom-built Holographic Processing Unit and an Intel ( INTC ) 32-bit architecture. It sports 2 gigabytes of RAM, 64GB of flash storage, and Bluetooth and Wi-Fi connectivity. HoloLens contains a host of sensors, include an inertial measurement unit, an ambient light sensor, four microphones and four environment understanding cameras. It also has a 2-megapixel camera for taking photos and videos. HoloLens has see-through holographic lenses that use an advanced optical projection system to generate multidimensional, full-color holograms with low latency. The developer kit includes a new Clicker accessory for controlling HoloLens without gestures or voice commands. Battery life for active use is two to three hours. Alphabet ( GOOGL ) is developing its own augmented reality glasses in Google Glass.  

European Pact Legalizes Facebook, Google, Amazon Data Transfers

Privacy advocates railed Monday after the European Union unveiled a 128-page framework for trans-Atlantic data transfers that, the advocates said, amounts to little more than “10 layers of lipstick on a pig.” The document outlines the specifics of the EU-U.S. Privacy Shield, which replaces the 15-year-old Safe Harbor agreement struck down in October in a case that pitted Austrian grad student Max Schrems against Facebook ( FB ). Schrems alleged Facebook misused Europeans’ data in cooperation with a National Security Agency program. Facebook has denied the allegation. U.S. spying tactics fell under scrutiny in 2013 after former NSA contractor Edward Snowden released thousands of classified documents allegedly detailing mass surveillance by the government. Amazon, Alphabet Continue Transfers The Privacy Shield, approved verbally in early February, requires the U.S. to abide by notoriously strict European privacy laws while handling data belonging to any of the region’s 500 million citizens. On Monday, the EU released the actual documents that lift tech giants Amazon ( AMZN ), Google parent  Alphabet ( GOOGL ) and Facebook from the legal limbo of transporting data across the Atlantic, prompting the European outcry. Under the new framework, the U.S. intelligence community won’t be making any compromises: The U.S. can continue “bulk” intelligence collection for six specific purposes  — namely, detecting and countering certain activities of foreign powers, counter-terrorism, counter-proliferation, cybersecurity, detecting and countering threats to the U.S. and allied armed forces, and combating transnational criminal threats. The framework also creates a new ombudsman under the U.S. State Department to deal with complaints by European citizens of how the U.S. handles their data. Reuters reported Catherine Novelli, undersecretary of State for economic growth, energy and the environment, has been tapped for the position. U.S. companies must reply to complaints within 45 days, and alternative dispute resolution will be offered free of charge. The U.S. Department of Commerce and the Federal Trade Commission will police the process. Firms must self-certify under the requirements and alter their privacy policies to reflect as much. The European Commission and Department of Commerce will jointly review the framework on an annual basis. Privacy Advocates Oppose Guidelines EU Commissioner Vera Jourova applauded the U.S. in a statement for handing over “binding assurances” that access to European citizens’ data will be “subject to clear limitations, safeguards and oversight mechanisms.” The framework is still pending approval by the Article 29 Working Party, through which the data protection authorities collaborate, and preparations by the U.S. to put the guidelines in place. Schrems, and other privacy advocates, called the framework flimsy. “They tried to put 10 layers of lipstick on a pig, but I doubt the court and the (data protection authorities) now suddenly want to cuddle with it,” he said in a statement Monday. Privacy is considered a basic human right in Europe, where the “right to be forgotten” has been codified. U.S. surveillance, in six circumstances, violates these rights, Schrems argued. Sophia in ’t Veld , vice chairwoman of the group Alliance of Liberals and Democrats for Europe, questioned Novelli’s reported appointment to the ombudsman role, asserting that the ombudsman is meant to be independent of the U.S. government. The “‘ombudsman,’ incidentally, will be (an) official of U.S. government. How does that qualify as ‘independent’ scrutiny?” In ‘t Veld tweeted early Monday. She also doubted whether “written assurances, ombudsman and patchy judicial redress rights” would meet the standards set by Europe’s Court of Justice when it invalidated the Safe Harbor accord in October.