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| Samsung launches early-stage, $100 million seed fund Monday, Feb 04, 2013 04:11 PM PST  MENLO PARK, California (Reuters) - Samsung Electronics is looking for some Silicon Valley magic. The company, a household name in televisions and mobile devices, is expanding its presence in the region with a new $100 million venture fund that will invest in early-stage startups, particularly those in remote computing, cybersecurity, mobility and mobile privacy. The idea is for the South Korean corporation to provide funding and partnership opportunities to startups that will ultimately drive growth for the its vast electronics components business. ... Full Story | Top |
| Baidu revenue and profit growth rate slow in fourth quarter Monday, Feb 04, 2013 03:43 PM PST  (Reuters) - Baidu Inc , China's largest search engine company, reported its slowest profit growth since 2009, as competition in the sector heats up and more users switch to mobile search. Shares of Baidu were down 6.7 percent at $100.01 in after hours trading on Monday. Baidu had previously warned of a soft fourth quarter as China's economy slows. Industry analysts warn that rapidly changing user habits and an increasingly crowded search market could weigh on revenue in the near future. ... Full Story | Top |
| California court finds for Apple in credit card suit Monday, Feb 04, 2013 03:18 PM PST  SAN FRANCISCO (Reuters) - Apple Inc and other online retailers did not break California law by requiring consumers to provide their address and phone numbers as a condition of accepting credit card payments, the state's high court ruled on Monday. In a split decision, the California Supreme Court said state privacy protections for credit cards do not apply to online purchases that are downloaded electronically. ... Full Story | Top |
| Energy Department hacked, says no classified data was compromised Monday, Feb 04, 2013 01:51 PM PST WASHINGTON (Reuters) - The Department of Energy's electronics network was attacked by hackers in mid-January but no classified data was compromised, the agency said in a letter to employees. The attack "resulted in the unauthorized disclosure of employee and contractor Personally Identifiable Information," the Energy Department said in the letter, which was received by employees at its headquarters in Washington late on Friday and obtained by Reuters on Monday. ... Full Story | Top |
| Trade group wants U.S.-China action on cyber security threats Monday, Feb 04, 2013 01:09 PM PST WASHINGTON (Reuters) - U.S. companies want the U.S. and Chinese governments to work together to address the growing problem of cyber attacks that threaten to undermine trade between the world's two largest economies, a U.S. business leader said on Monday. "We would simply say it's time for the governments to work on it," John Frisbie, president of the U.S.-China Business Council, told reporters at a briefing on the trade group's priorities for 2013. "We do know that companies are constant targets of efforts to get into their systems globally. ... Full Story | Top |
| Oracle to buy network gear maker Acme Packet for $1.7 billion Monday, Feb 04, 2013 12:07 PM PST  (Reuters) - Software maker Oracle Corp will buy Acme Packet Inc for $1.7 billion net of cash as billionaire CEO Larry Ellison expands into the networking equipment market long dominated by Cisco Systems Inc. Acme is best-known for selling hardware that telecommunications companies and big corporations buy to manage the transmission of phone calls using the same technology as Internet communications. Oracle is the world's No. 3 software maker and one of the top makers of high-end business computers. ... Full Story | Top |
| U.S. court says won't expedite Apple appeal versus Samsung Monday, Feb 04, 2013 11:19 AM PST  SAN FRANCISCO (Reuters) - A U.S. appeals court on Monday rejected Apple Inc's request to fast-track its bid for a sales ban on several Samsung Electronics Co Ltd phones, ruling the iPhone maker could not argue its case to the full appeals court right away. A lower court judge had rejected Apple's bid for a permanent injunction following a blockbuster trial last year. In its ruling on Monday, the Federal U.S. Circuit Court of Appeals in Washington, D.C. ... Full Story | Top |
| Dell closer to buyout as price talks narrow: source Monday, Feb 04, 2013 11:04 AM PST  NEW YORK (Reuters) - Dell Inc moved closer to a nearly $24 billion buyout deal, with price negotiations narrowing to $13.50 to $13.75 a share in what would be the biggest leveraged buyout since the financial crisis. Talks between Dell, the world's No. 3 computer maker, and a consortium led by its founder and chief executive, Michael Dell, to take the company private were in the final stages on Monday, a person familiar with the matter said. An outcome is expected soon, the person said, cautioning that no final agreement had been reached and negotiations could still break down. ... Full Story | Top |
| BlackBerry shares jump after Bernstein upgrades stock Monday, Feb 04, 2013 10:45 AM PST  TORONTO (Reuters) - Shares of BlackBerry rose more than 12 percent on Monday after Bernstein Research said it was upgrading the stock to "outperform" after last week's launch of the company's new line of BlackBerry 10 smartphones. The brokerage firm, which has not had an "outperform" rating on the stock for more than three years, also lifted its price target to $22 from $12, saying it has grown much more confident about the success of the smartphones, powered by the new BlackBerry 10 operating system. ... Full Story | Top |
| Swedish tech start-ups outdoing European rivals Monday, Feb 04, 2013 09:15 AM PST  STOCKHOLM (Reuters) - Spotify, Mojang and Wrapp, respectively music, games and gift services winning online markets worldwide, are among tech start-ups that have made Sweden Europe's hottest spot for investors hunting the next big thing. Attracting more venture capital relative to the size of its economy than any of its European neighbours over the past five years, Sweden is benefiting from a strong heritage in design and engineering as well as a wired population keen for innovation. ... Full Story | Top |
| Hit game Minecraft to stay private Monday, Feb 04, 2013 09:13 AM PST  STOCKHOLM (Reuters) - A pool table, a pinball machine, board games and Lego dot the offices of Mojang, the small Swedish company behind the wildly popular Minecraft video game, and one of its founders is wearing a tuxedo and purple tie on a recent "formal Friday". The atmosphere reflects the independent spirit that has contributed to the raw identity of the game that has just sold 20 million copies. The founders want to keep it that way. ... Full Story | Top |
| App helps bring strangers together over meals Monday, Feb 04, 2013 07:55 AM PST TORONTO (Reuters) - Looking for new friends or dinner partners? A new smartphone app is designed to help people connect to others to set up groups for dinners. The app, GrubTonight, links hungry and adventurous smartphone users for dinners, fun evenings and friendship. "We wanted to build a real-time spontaneous app where any night of the week you could go out and eat, because you need to eat anyway, and also have a social outing," said Eddy Lu, CEO and co-founder of Grubwithus Inc, an online community for group meals based in Los Angeles, California. ... Full Story | Top |
| Foxconn says to boost China worker participation in union Monday, Feb 04, 2013 03:47 AM PST  TAIPEI/BEIJING (Reuters) - Foxconn Technology Group, the assembler of most of the world's top-selling electronic gadgets including Apple Inc's iPhone, is trying to raise participation in its union as part of efforts to dispel a rash of bad publicity over poor working conditions and labor disputes. Taiwan's Foxconn, which employs more than 1 million people, mostly in China at huge factory complexes, hit the headlines in mid-2010 following a spate of worker suicides and widespread allegations of poor conditions, long hours and low wages. Apple, Foxconn's main client, asked the U.S. ... Full Story | Top |
| HTC plans cheaper phones for China as revenue sags Monday, Feb 04, 2013 03:29 AM PST  TAIPEI (Reuters) - Taiwanese smartphone maker HTC Corp will shift its focus more towards emerging markets and offer lower priced phones in China this year as it grapples with slumping revenue in the shadow of Apple's iPhone and Samsung's Galaxy series. HTC gave a disappointing outlook on Monday for first-quarter revenue, saying it would be flat to 17 percent lower than in the previous three months - worse than analysts had forecast - while margins are also seen holding steady or shrinking. ... Full Story | Top |
| Taiwan's HTC says to focus more on emerging markets in 2013 Sunday, Feb 03, 2013 11:42 PM PST TAIPEI (Reuters) - Taiwanese smartphone maker HTC Corp said on Monday it will focus more on emerging markets in 2013, as it grapples with trying to maintain sales in a market dominated by Samsung Electronics Co Ltd and Apple Inc. Chief Financial Officer Chang Chia-Lin was speaking at a briefing after the company said it expects revenue to be flat to 17 percent lower in the first quarter compared with the previous three months. The company also said it expected to see sequential revenue growth quarter to quarter in 2013 as it rolls out new flagship products. ... Full Story | Top |
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