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| EBay sets aggressive 2015 targets, shares climb Thursday, Mar 28, 2013 02:55 PM PDT  By Alistair Barr SAN FRANCISCO (Reuters) - EBay Inc foresees annual earnings growth of 15 percent to 19 percent over the next three years, and is targeting an increase in revenue of as much as 68 percent for the period. The aggressive goals drove its shares up more than 4 percent. Executives told analysts at eBay's annual investor day on Thursday that they expect revenue of $21.5 billion to $23.5 billion in 2015, versus $14 billion in 2012, as the company expands globally, focusing more on local commerce and using mobile technology to lure shoppers. ... Full Story | Top |
| Amazon plans to buy social network for book fans Thursday, Mar 28, 2013 02:19 PM PDT  (Reuters) - Amazon.com Inc said on Thursday it plans to acquire the book recommendation website, Goodreads. In buying Goodreads, Amazon gets a community of bibliophiles primed to buy and recommend books - one of its key areas of business. "Goodreads has helped change how we discover and discuss books and, with Kindle, Amazon has helped expand reading around the world," Russ Grandinetti, Amazon vice president, Kindle Content, said in a release. Based in San Francisco, Goodreads is a social network site that lets bookworms catalog and review books. ... Full Story | Top |
| Clearwire taps Sprint funds, boosting deal prospects Thursday, Mar 28, 2013 02:07 PM PDT  (Reuters) - Wireless service provider Clearwire Corp said it would draw on $80 million in financing from Sprint Nextel Corp , which is seeking to buy it, reducing the chances for rival bidder Dish Network Corp . Clearwire, which is already majority owned by Sprint, said on Wednesday that it would continue talks with Dish but that it has not changed its recommendation in favor of its agreement with No. 3 U.S. mobile provider Sprint. "We anticipate filing our definitive proxy in the coming weeks," Clearwire Chief Executive Erik Prusch said in a filing. ... Full Story | Top |
| New York high court upholds state's "Amazon tax" Thursday, Mar 28, 2013 01:58 PM PDT  NEW YORK (Reuters) - Amazon.com Inc and other out-of-state online retailers must collect state tax on New York state customers, the state's highest court ruled on Thursday, a decision at odds with other courts that could set the stage for a showdown in the U.S. Supreme Court. The case, combining two brought by Amazon and Overstock.com Inc, was decided by the New York State Court of Appeals by a vote of 4-1. "It's unfortunate and the (U.S.) Supreme Court ought to look at this," Overstock acting Chief Executive Jonathan Johnson told Reuters by phone. ... Full Story | Top |
| EBay CFO sees profit per share up 15 to 19 percent a year over next 3 years Thursday, Mar 28, 2013 01:25 PM PDT SAN FRANCISCO (Reuters) - EBay Inc Chief Financial Officer Bob Swan forecast earnings per share growth of 15 percent to 19 percent a year over the next three years Swan also said PayPal's new offline business can generate transaction margins of about 40 percent. He also forecast cash flow of more than $11 billion over the next three years. (Reporting by Alistair Barr) Full Story | Top |
| Ebay forecasts doubling of its PayPal business in three years Thursday, Mar 28, 2013 01:02 PM PDT SAN FRANCISCO (Reuters) - Ebay Inc forecast on Thursday a doubling of its PayPal payments business by 2015. PayPal President David Marcus told analysts at eBay's annual investor day that by 2015, the company will begin to see the benefits of its push to extend payments services into physical retail locations. (Reporting by Alistair Barr) Full Story | Top |
| Chinese regulator calls for tighter supervision of Apple Thursday, Mar 28, 2013 11:41 AM PDT  SAN FRANCISCO (Reuters) - Apple Inc has come under criticism from a Chinese marketplace regulator, which called for stronger supervision of the iPhone-maker's consumer policies within the country, according to state-run media. On Thursday, the official China National Radio cited a Thursday notice from the State Administration for Industry and Commerce that urged authorities to protect consumers' rights in accordance with the law. According to CNR's website report, the notice mentions Apple but stops short of specifying what exactly they need to go after and how to do so. ... Full Story | Top |
| Gartner slightly cuts 2013 IT spending outlook Thursday, Mar 28, 2013 11:06 AM PDT (Reuters) - Industry research firm Gartner trimmed its tech spending outlook for 2013 because concerns about the U.S. budget and Cyprus' debt burden are expected to temporarily weigh on financial plans. It now expects spending on information technology ranging from smartphones to data storage to grow 4.1 percent or $3.8 trillion this year instead of the previously forecast 4.2 percent, Gartner said on Thursday. By comparison in 2012, IT spending rose 2.1 percent. ... Full Story | Top |
| Sluggish corporate spending crimps Accenture forecast Thursday, Mar 28, 2013 10:51 AM PDT  By Sruthi Ramakrishnan (Reuters) - Outsourcing and consulting services provider Accenture Plc reduced its forecast for revenue growth, as its consulting business continued to be hurt by a slowdown in corporate discretionary spending, especially in Europe. Accenture said it now expects revenue for the year ending August 31 to be below the midpoint of its forecast of 5-8 percent growth in local currency. ... Full Story | Top |
| BlackBerry posts surprise profit, but subscribers slip Thursday, Mar 28, 2013 10:44 AM PDT  By Euan Rocha TORONTO (Reuters) - BlackBerry reported a surprise quarterly profit on Thursday after shipping 1 million new Z10 smartphones, but the Canadian company still fell short of convincing markets that its turnaround plan is already a runaway success. BlackBerry shares were up 2.3 percent at midday on the Nasdaq, down from their 10 percent gain immediately after the results came out. Expressing lingering doubts, some analysts focused on a decline in the company's subscriber base, a potential threat to its long-term growth prospects and turnaround plans. ... Full Story | Top |
| Lazaridis to keep BlackBerry stake, focus on new venture Thursday, Mar 28, 2013 10:27 AM PDT  By Euan Rocha TORONTO (Reuters) - BlackBerry co-founder Mike Lazaridis said on Thursday he has no plans to sell his stake in the smartphone maker even as he steps down from the board to focus on a new quantum computing investment fund. BlackBerry, formerly Research In Motion, announced the former co-CEO's departure from the board on Thursday as it reported its first quarterly earnings since launching its make-or-break new BlackBerry 10 smartphones. ... Full Story | Top |
| GameStop says demand hit as customers await new consoles Thursday, Mar 28, 2013 08:51 AM PDT  By Neha Alawadhi and Malathi Nayak (Reuters) - Retailer GameStop Corp warned of weak sales this year as customers delay purchases ahead of the arrival of next-generation videogame consoles, but it reported stronger-than-expected quarterly results. The world's largest retailer of videogame products said on Thursday that it expected full-year sales to remain flat or fall by as much as 8 percent, implying revenue of between $8.18 billion and $8.89 billion. Analysts on average expect $8.86 billion, according to Thomson Reuters I/B/E/S. ... Full Story | Top |
| Telekom Austria turns unlimited data model on its head Thursday, Mar 28, 2013 07:52 AM PDT  VIENNA (Reuters) - Telekom Austria has announced new mobile deals abandoning the unlimited data packages that have become commonplace and instead offering free voice and text messages. The move, in Europe's most keenly-priced market, is a bet that soaring data usage can replace dwindling revenues from the former cash cows of voice and texts, which are coming under pressure from Web-based competitors. Telekom Austria said on Thursday it would offer only the new tariffs after existing contracts ran out. ... Full Story | Top |
| Google launches same-day delivery in San Francisco Bay Area Thursday, Mar 28, 2013 06:55 AM PDT  SAN FRANCISCO (Reuters) - Google Inc launched a same-day delivery service in the San Francisco Bay Area on Thursday as the world's largest Internet search company works with retailers such as Target Corp to compete more with e-commerce leader Amazon.com Inc. Google has been testing the service, called Google Shopping Express, with employees for a few months. The company opened it up to the public on Thursday morning in a limited launch focused on San Francisco residents and others living south of the city from San Mateo to San Jose. ... Full Story | Top |
| Nokia plays down $383 million India tax order Thursday, Mar 28, 2013 06:30 AM PDT  MUMBAI/COPENHAGEN (Reuters) - Mobile phone maker Nokia Oyj has played down a multi-billion rupee tax demand from India, saying it did not have to pay any part of the demand for now and would continue to fight the claim. Indian tax officials demanded Nokia pay 20.8 billion rupees ($383 million) in unpaid taxes, stepping up claims against foreign companies, although the Delhi High Court issued a stay on the demand. The tax order, if enforced, would add to pressure on Nokia's finances which are already being strained by falling sales. ... Full Story | Top |
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