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| Thiel could invest $150 million in AirBnb Friday, Oct 19, 2012 06:58 PM PDT  SAN FRANCISCO (Reuters) - Peter Thiel, the PayPal co-founder and Facebook Inc's first outside investor, is close to investing roughly $150 million in Airbnb in a deal that would value the lodging rental start-up at about $2.5 billion, according to people familiar with the matter. Details of the investment round, which has not yet closed, was first reported by the Wall Street Journal on Friday. ... Full Story | Top |
| Mobile revolution, economy trip up tech giants Friday, Oct 19, 2012 05:46 PM PDT  SAN FRANCISCO (Reuters) - Mobile may be the future for technology, but even with the worldwide proliferation of high-powered devices like smartphones and tablets, some companies are struggling to maintain consistent revenue streams. Earnings disappointments this week from Intel Corp, Microsoft Corp, Google Inc and AMD underscore how Silicon Valley, both the old guard and new, is struggling to profit from consumers' waning love affair with the stalwart PC and infatuation with mobile -- the most significant tectonic shift in the industry since the advent of the Internet. ... Full Story | Top |
| Google mulls FTC settlement over patents : WSJ Friday, Oct 19, 2012 05:31 PM PDT  (Reuters) - Google Inc is considering a settlement with the Federal Trade Commission over potential claims it broke antitrust law in its handling of patents for mobile devices, the Wall Street Journal reported on Friday. The dispute has to do with whether Google's Motorola Mobility unit lived up to licensing commitments made after its patents were adopted as industry standards. At issue is whether Google improperly refused to license patents to some mobile rivals and attempted to gain court injunctions to stop sales of its competitors' products. ... Full Story | Top |
| Defense chief calls cyberspace battlefront of the future Friday, Oct 19, 2012 05:15 PM PDT  WASHINGTON (Reuters) - Cyberspace is the battlefield of the future, with attackers already going after banks and other financial institutions and developing the ability to strike U.S. power grids and government systems, Defense Secretary Leon Panetta said on Friday. "We confront a whole new threat of warfare in (cyberspace). ... This is an area we've got to pay close attention to. This is the battlefront of the future," he told a business group in Norfolk, Virginia, a city at the center of one of the largest concentrations of military power in the United States. ... Full Story | Top |
| Activision hopes new Skylanders game is a holiday hit Friday, Oct 19, 2012 05:01 PM PDT SAN FRANCISCO (Reuters) - Activision Blizzard is betting big on children's fantasy adventure game "Skylanders" this holiday, with the launch of a new title on Sunday and plans for more mobile versions of the console game. The franchise's second offering, "Skylanders: Giants", will hit stores in North America following the success of "Skylanders: Spyro's Adventures" whose U.S. sales have exceeded 286 million game packs, toys and accessories since its 2011 release. ... Full Story | Top |
| Apple drops Java after experts warn Mac users on its security Friday, Oct 19, 2012 01:33 PM PDT  BOSTON (Reuters) - Apple Inc is removing old versions of Oracle Corp's Java software from Internet browsers on the computers of its customers when they install the latest update to its Mac operating system. Apple, which has previously included Java with installations of Mac OS X, announced the move on its support site. It said that customers need to obtain Java directly from Oracle if they want to access web content written the widely used programming language. (http://support.apple.com/kb/DL1572) Apple did not provide a reason for the change and both companies declined to comment. ... Full Story | Top |
| Russia's Yandex targets Google with expansion abroad Friday, Oct 19, 2012 12:48 PM PDT DUBLIN (Reuters) - Russia's leading internet search engine, Yandex, will take the fight to Google in emerging markets like Turkey in a bid to offset the inroads made by the U.S. giant in its home market. Yandex founder and chief executive Arkady Volozh told Reuters on Friday the firm was likely to use its own experts to expand into new countries, but would not rule out acquisitions or partnership deals. "We are focusing on the markets with Google dominance in search ... ... Full Story | Top |
| AT&T will boost pension fund with $9.5 billion equity stake Friday, Oct 19, 2012 11:41 AM PDT (Reuters) - AT&T said on Friday it will contribute a stake in its wireless business to the company's pension plan worth $9.5 billion in an effort to secure the fund, according to a U.S. Securities and Exchange Commission filing. AT&T filed for approval for the proposal with the U.S. Department of Labor on Thursday. It said the move would not significantly affect company earnings. AT&T's pension plan was underfunded by about $10.2 billion at the end of 2011, a company spokeswoman said. ... Full Story | Top |
| Yahoo to exit South Korea in first Asian pullout Friday, Oct 19, 2012 09:45 AM PDT  SEOUL (Reuters) - Yahoo Inc's South Korean operation said on Friday it will quit the country, underscoring its struggle against Google Inc and local competitors expanding aggressively into mobile advertising and online services. South Korea is the first Asian country Yahoo is leaving, the firm said. An industry pioneer and household Internet brand, it has been overshadowed by global rivals including Facebook Inc and Google in recent years. ... Full Story | Top |
| Analysts cut Google price targets but see mobile ad growth Friday, Oct 19, 2012 05:28 AM PDT  (Reuters) - At least seven brokerages cut their price targets on Google Inc's shares after the company missed Wall Street earnings expectations, but analysts said growing mobile advertising revenue points to better times ahead. The earnings report, released hours ahead of schedule due to an error on Thursday, revealed slowing sales in Google's core Internet advertising business. The quarterly earnings missed expectations for the second time in a year but analysts said the decline was a short-term trade-off as mobile advertising revenue becomes a bigger part of its business. ... Full Story | Top |
| Sony to cut HQ staff by a fifth, shutter Japan plant Friday, Oct 19, 2012 01:02 AM PDT  TOKYO (Reuters) - Sony Corp said it will cut staff in its headquarters by a fifth and shutter a factory making camera lenses and mobile phones in Japan, providing new details of a previously announced plan to trim its global headcount by 10,000 by end-March. In addition to 1,800 at a chemical business it sold to a state-run bank in Japan, Sony will let go roughly another 2,000 people from its head office and plant in Gifu, central Japan, Sony said in a statement on Friday. ... Full Story | Top |
| Google filing error shocks investors, exposes process Thursday, Oct 18, 2012 09:36 PM PDT SAN FRANCISCO/NEW YORK (Reuters) - R.R. Donnelley & Sons Co handles thousands of securities filings a year for corporate clients in a routine process that is invisible to most investors. On Thursday Google and its shareholders found out just what happens when that process goes wrong. Google issued a statement blaming Donnelley, its filing agent, after the Internet search company's quarterly results were released by the U.S. Securities and Exchange Commission hours ahead of schedule. Earnings were far less than analysts expected and Google shares immediately plunged as much as 10. ... Full Story | Top |
| Ally Financial latest U.S. bank to face cyber attack Thursday, Oct 18, 2012 08:20 PM PDT  (Reuters) - Ally Financial Inc said on Thursday it was monitoring "unusual activity" on its web site, the latest U.S. bank to report internet issues following recent cyber attacks that have been linked to Iran. Bank of America Corp , Wells Fargo & Co and other banks in recent weeks have suffered so-called denial of service attacks in which hackers use a high volume of incoming traffic to delay or disrupt customer websites. Regional bank BB&T Corp and credit card issuer Capital One Financial Corp confirmed disruptions earlier this week. ... Full Story | Top |
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