10 things in tech you need to know today
1. Microsoft is laying off 7,800 employees. The company is no longer looking to build a "standalone phone business," but will instead concentrate its mobile efforts on building Windows Phone software and release limited flagship devices.
2. Spotify has hit out out at Apple, emailing customers to urge them not to pay for subscriptions for its service via the App Store. Apple charges 30% on all transactions within the App Store, so Spotify has to charge people more if they pay for its premium service that way.
3. Twitter revenue boss Adam Bain is the board's top pick for next CEO. A person familiar with the matter tells Business Insider that he is the "number one candidate that the board is focused on right now."
4. Yahoo is stepping into a multi-billion dollar industry by letting people win money on sports. On Wednesday, the company launched a fantasy sports service called Yahoo Sports Daily Fantasy.
5. Uber's biggest rival in China, Didi Kuaidi, has raised another $2 billion. The Chinese ride-sharing company now has cash reserves of $3.5 billion and is valued at $15 billion, as Uber attempts to muscle in on its home turf.
6. Former Reddit staff member Victoria Taylor has finally broken her silence. Taylor was abruptly dismissed late last week, prompting massive site-wide protests that saw hundreds of Reddit's most popular communities go offline.
7. Foxconn's founder is being extremely secretive about his plans for a post-Apple future. CEO Terry Gou is staying mum on where he plans to lead his company.
8. Facebook is completely changing the way it charges advertisers. The social networking giant is revamping its "cost per click model," so advertisers are only charged for clicks on links to a website or app - not likes, shares, and comments.
9. The NYSE stopped trading for three hours due to technical issues on Wednesday. There's no evidence of foul play - but cybersecurity stocks still jumped higher in response to the news.
10. Facebook is rumoured to be building a music streaming service to compete with Apple Music and Spotify. It's apparently only in the early stages, and would represent Facebook's first big push in the music industry.