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Apple confirms it's buying Shazam

Just days after TechCrunch first reported that Apple was close to acquiring music-identification app Shazam, the companies have confirmed the deal (a somewhat unusual move for Apple). No terms have been disclosed but it was reportedly for about $400 million, according to several outlets.

Why it matters: Shazam's technology is a natural fit to continue driving downloads to iTunes, subscriptions to Apple Music, and to help with music (and voice) recognition as part of Siri and Apple's upcoming HomePod home speaker.

From Shazam:

We are excited to announce that Shazam has entered into an agreement to become part of Apple. Shazam is one of the highest rated apps in the world and loved by hundreds of millions of users and we can’t imagine a better home for Shazam to enable us to continue innovating and delivering magic for our users.

Apple's statement to Recode:

We are thrilled that Shazam and its talented team will be joining Apple. Since the launch of the App Store, Shazam has consistently ranked as one of the most popular apps for iOS. Today, it’s used by hundreds of millions of people around the world, across multiple platforms. Apple Music and Shazam are a natural fit, sharing a passion for music discovery and delivering great music experiences to our users. We have exciting plans in store, and we look forward to combining with Shazam upon approval of today’s agreement
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Zuckerberg admits Facebook "breach of trust"

Facebook CEO Mark Zuckerberg walks wearing a t-shirt, with trees behind him
Photo: Drew Angerer/Getty Images

Mark Zuckerberg weighed in on what he called the "Cambridge Analytica situation" today in a Facebook post, saying there was a "a breach of trust between Facebook and the people who share their data with us and expect us to protect it. We need to fix that."

"We have a responsibility to protect your data, and if we can't then we don't deserve to serve you. I've been working to understand exactly what happened and how to make sure this doesn't happen again. The good news is that the most important actions to prevent this from happening again today we have already taken years ago. But we also made mistakes, there's more to do, and we need to step up and do it."

Why it matters: Facebook has been under extraordinary pressure from lawmakers, regulators and Wall Street to respond to the issue.

Jonathan Swan 12 hours ago
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Trump to announce anti-China tariffs tomorrow

President Donald Trump
Photo: Kevin Dietsch-Pool/Getty Images

President Trump plans to unveil his aggressive package of tariffs against China tomorrow, with a charge led by U.S. Trade Representative Robert Lighthizer that will use Section 301 of the Trade Act of 1974 to target Beijing.

The big picture: Two sources with direct knowledge tell me Kevin Hassett has been crunching the numbers, and the dollar value of the tariffs will likely be around $50 billion per year — or slightly less. The administration has used an algorithm to select a batch of Chinese products and then apply tariff rates to those products in a way that will hopefully limit the harm to American consumers.