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| Microsoft defends frayed PC ecosystem with $2 billion Dell loan Tuesday, Feb 05, 2013 07:49 PM PST SEATTLE/SAN FRANCISCO (Reuters) - Microsoft Corp is playing defense with a $2 billion loan to help Dell Inc's founder buy back the world's No.3 PC maker as it seeks to shore up support for Windows and beat back the march of Google Inc's Android. The investment in the landmark $24 billion buyout led by Michael Dell marks the latest step in Microsoft's plan to gain more influence over the hardware supply chain - a departure from the decades-old, software-centric philosophy that helped it dominate the computing world but is now increasingly under threat. ... Full Story | Top |
| Fed says internal site breached by hackers, no critical functions affected Tuesday, Feb 05, 2013 07:36 PM PST  WASHINGTON/BOSTON (Reuters) - The Federal Reserve said on Tuesday that one of its internal websites had been briefly breached by hackers, though no critical functions of the U.S. central bank were affected by the intrusion. The admission, which raises questions about cyber security at the Fed, follows a claim that hackers linked to the activist group Anonymous had struck the Fed on Sunday, accessing personal information of more than 4,000 U.S. bank executives, which it published on the Web. ... Full Story | Top |
| Zynga profit tops views, but it forecasts lower revenue Tuesday, Feb 05, 2013 07:18 PM PST  SAN FRANCISCO (Reuters) - Zynga Inc, the one-time Silicon Valley darling that has been wrestling with a months-long exodus of online gamers, reported an unexpected fourth-quarter profit on Tuesday after embracing steep cost cuts and shifting forward deferred revenue. The results assuaged investors who had feared the company might be in free fall and boosted Zynga's shares by 7 percent to $2.93 in after-hours trade. Still, the company reported fourth-quarter revenue of $311 million, virtually unchanged from a year earlier and down from the prior quarter. ... Full Story | Top |
| Google wins landmark advertising case in Australia Tuesday, Feb 05, 2013 05:36 PM PST  CANBERRA (Reuters) - Global search engine Google Inc won a landmark court case in Australia on Wednesday when the country's High Court ruled the Internet giant was not responsible for messages conveyed by paid advertisers on its site. The finding ends a six-year legal battle between Google and Australia's consumer watchdog, the Australian Competition and Consumer Commission (ACCC), which accused Google of engaging in misleading and deceptive conduct over paid advertisements. ... Full Story | Top |
| Online scrapbook Pinterest seeks funding at $2 billion valuation: WSJ Tuesday, Feb 05, 2013 05:14 PM PST (Reuters) - Online scrapbook Pinterest is trying to raise a new round of funding that would give it a valuation of $2 billion to $2.5 billion, the Wall Street Journal reported on Tuesday. The company declined to comment on any fundraising efforts. The talks are fluid with no investment finalized, the Journal said in its report. Pinterest, which allows users to create online bulletin boards based on various themes such as travel, decorating, or sports, is part of a group of Internet companies that offer twists on Internet networking among various groups. ... Full Story | Top |
| Nasdaq in settlement talks with SEC over Facebook IPO: WSJ Tuesday, Feb 05, 2013 04:26 PM PST  (Reuters) - Nasdaq OMX Group Inc is in preliminary talks with U.S. securities regulators over a possible settlement for the glitch-ridden stock market debut of social networking site Facebook Inc, the Wall Street Journal reported on Tuesday, citing people with knowledge of the discussions. A settlement with the Securities and Exchange Commission would likely include a $5 million penalty for Nasdaq, the newspaper said. Major market makers and broker dealers say they lost upward of $500 million because of technical glitches during Facebook's May 18 stock market debut. ... Full Story | Top |
| Dell to go private in landmark $24.4 billion deal Tuesday, Feb 05, 2013 03:46 PM PST  SAN FRANCISCO/NEW YORK (Reuters) - Michael Dell will take Dell Inc private for $24.4 billion in the biggest leveraged buyout since the financial crisis, a deal that allows the billionaire chief executive to attempt a revival of his struggling computer company without Wall Street scrutiny. ... Full Story | Top |
| Researchers warn of cyber flaws in Honeywell control systems Tuesday, Feb 05, 2013 02:16 PM PST SAN JUAN, Puerto Rico (Reuters) - A widely used system for controlling electricity, heating and other systems inside buildings remains vulnerable to attacks over the Internet, despite warnings from U.S. officials, researchers said on Tuesday. The Niagara control system from Honeywell International Inc's Tridium division are configured to connect to the Internet by default, even though that is not necessary for them to function, two researchers from security firm CyLance said at a security conference in San Juan, Puerto Rico. ... Full Story | Top |
| Apple to lose iPhone trademark in Brazil: source Tuesday, Feb 05, 2013 01:27 PM PST  RIO DE JANEIRO (Reuters) - Brazil's copyright regulator will strip Apple Inc of the right to use its iPhone trademark in Latin America's biggest market and granted the trademark to a local company that registered it first, a source familiar with the decision said on Tuesday. Gradiente Eletronica SA, a Brazilian consumer electronics maker, registered the "iphone" name in 2000, seven years before Apple launched its now virally popular smartphone. The Brazilian Institute of Intellectual Property will officially announce its decision on Feb 13, the source said. ... Full Story | Top |
| BlackBerry eyes future beyond its new line of devices Tuesday, Feb 05, 2013 12:39 PM PST  TORONTO (Reuters) - Barely a week after launching an all-new, make-or-break line of smartphones, BlackBerry is already looking at a future in which it is a leader in "mobile computing," Chief Executive Thorsten Heins said on Tuesday. Heins said BlackBerry is aiming to reclaim its spot as an innovator in a world where smartphones already have the processing power to replace tablets and laptops. ... Full Story | Top |
| Michael Dell says turnaround will take time and patience Tuesday, Feb 05, 2013 09:06 AM PST (Reuters) - Dell Inc's turnaround will take more "time, investment and patience," Chief Executive Michael Dell said in a memo to employees on Tuesday after striking a deal to take the company private. In the memo, a copy of which was obtained by Reuters, Michael Dell also said a privately held Dell Inc would still have the flexibility for acquisitions. (Reporting By Ben Berkowitz) Full Story | Top |
| Dell readies $11-12 billion debt financing Tuesday, Feb 05, 2013 09:06 AM PST NEW YORK (Reuters) - Computer maker Dell Inc is preparing a debt financing package of between $11 billion and $12 billion to back its $24.4 billion leveraged buyout, banking sources following the situation told Thomson Reuters LPC. The final size of the debt financing depends on what portion of the company's existing notes remain outstanding, sources added. Lead banks Bank of America Merrill Lynch, Barclays, Credit Suisse and RBC Capital Markets are expected to begin reaching out to other lenders to begin syndicating the loans as early as today. ... Full Story | Top |
| Dell to stick to current strategy as private company Tuesday, Feb 05, 2013 09:02 AM PST SAN FRANCISCO (Reuters) - Dell Inc, which intends to go private in a $24.4 billion deal led by founder and Chief Executive Michael Dell, plans to stick to its current turnaround strategy to diversify away from personal computers. Dell Chief Financial Officer Brian Gladden told Reuters in an interview on Tuesday that the company can now pursue its strategy without being limited by the pressures of public ownership. "Under a new private company structure, we will have time and flexibility to really pursue and realize the end-to-end solutions strategy," Gladden said. ... Full Story | Top |
| Timeline: Dell since 1984, a roller-coaster ride Tuesday, Feb 05, 2013 08:02 AM PST (Reuters) - Twenty-nine years after its founding, iconic computer maker Dell Inc agreed to a $24.4 billion deal to go private on Tuesday. The $13.65-per-share deal for the world's third-largest computer maker involves chairman Michael Dell, private equity firm Silver Lake and Microsoft Corp. Here is a look at Dell's 28-year journey: 1984 - Michael Dell, a 19-year-old, pre-med college freshman starts selling computers built from stock components out of his dorm room at the University of Texas in Austin. He later drops out to focus on the business he names "PC's Limited. ... Full Story | Top |
| Instant View: Dell to go private in $24.4 billion deal Tuesday, Feb 05, 2013 07:23 AM PST (Reuters) - Computer maker Dell Inc said it agreed to sell itself to Michael Dell, its founder and chief executive, and private equity firm Silver Lake, in a $24.4 billion deal. Below are comments on the deal from analysts and investors: BRENT BRACELIN, ANALYST, PACIFIC CREST SECURITIES "I think there are different avenues that Dell can pursue as a privately held company that will be much easier for them to pursue than as a public company. Clearly Dell is a big partner of Microsoft's. Microsoft has a vested interested in make sure Dell remains a partner. ... Full Story | Top |
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