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| Facebook hit with fresh IPO-related lawsuit Monday, Mar 04, 2013 07:35 PM PST  (Reuters) - A Facebook Inc shareholder has sued the social networking company's Chief Executive Mark Zuckerberg and others over its troubled IPO, potentially reviving legal claims that a different court dismissed in February. The lawsuit by Gaye Jones alleges that the company's directors and officers knew that Facebook did not disclose weaker revenue trends as more users accessed the website through mobile devices. The complaint alleges that information had been selectively shared with the company's IPO underwriters and key investors. ... Full Story | Top |
| White House: unlocking of cellphones should be legal Monday, Mar 04, 2013 04:22 PM PST  (Reuters) - Cellphone users should be allowed to switch their devices to any mobile carrier, the White House said on Monday in response to an online petition against the recent banning of the practice. More than 100,000 people signed the petition protesting the ban on switching imposed by the Library of Congress, which took effect in January. At issue is whether cellphone buyers, who get new devices at a heavily subsidized price in return for committing to long-term contracts, should be able to take their gadgets with them when they change carriers. ... Full Story | Top |
| BCE's $2.9 billion Astral purchase clears a hurdle in Canada Monday, Mar 04, 2013 03:11 PM PST  TORONTO (Reuters) - Canada's Competition Bureau has approved BCE Inc's plan to acquire Astral Media Inc for C$3 billion ($2.9 billion), but the Bell parent's offer to buy the media company must still pass muster with the telecommunications regulator. The competition watchdog said on Monday its approval carried the condition that BCE, a growing broadcaster, must sell some of Astral's pay and specialty television channels, including several Disney channels. ... Full Story | Top |
| Bersani ultimatum may bring new Italy election closer Monday, Mar 04, 2013 01:24 PM PST  ROME (Reuters) - Italy could be inching closer towards another election within months after center-left leader Pier Luigi Bersani issued an ultimatum to anti-establishment comic Beppe Grillo to support a new government or return to the polls. Last week's election, in which Grillo's 5-Star Movement won a huge protest vote, left no group with a working majority in parliament, making an alliance with a rival the only way out. ... Full Story | Top |
| Telecom Italia Media sells La7 channel for 1 million euros Monday, Mar 04, 2013 10:41 AM PST MILAN (Reuters) - Telecom Italia Media said on Monday it would pump money into its cash-burning La7 channel before offloading it to media firm Cairo Communication for a token price. The Italian broadcaster, controlled by telecoms group Telecom Italia, has agreed to sell its flagship network for 1 million euros in a deal that underscores the difficulties of Italy's media industry. "I have taken on a hot potato," the head of Cairo Communication, Urbano Cairo, said in a radio interview after a Telecom Italia Media board meeting on Monday to approve the deal. ... Full Story | Top |
| Russia set to remove CEO from Rostelecom board: agency Monday, Mar 04, 2013 10:35 AM PST  MOSCOW (Reuters) - Alexander Provotorov, the CEO of Russian telecom firm Rostelecom, looks set to lose his place on the company's board after the government backed a list of candidates that did not include him, according to Russia's Prime news agency. The government, which has a 53 percent stake in Rostelecom via state holding company Svyazinvest, has been critical of management's plans to expand in the competitive mobile market, as well as a weak share price, prompting media speculation that Provotorov could be replaced. ... Full Story | Top |
| K-12 student database jazzes tech startups, spooks parents Monday, Mar 04, 2013 09:25 AM PST  (Reuters) - An education technology conference this week in Austin, Texas, will clang with bells and whistles as startups eagerly show off their latest wares. But the most influential new product may be the least flashy: a $100 million database built to chart the academic paths of public school students from kindergarten through high school. In operation just three months, the database already holds files on millions of children identified by name, address and sometimes social security number. Learning disabilities are documented, test scores recorded, attendance noted. ... Full Story | Top |
| DragonWave cuts revenue estimate as sales fall in Nokia Siemens unit Monday, Mar 04, 2013 08:13 AM PST (Reuters) - Telecom network equipment maker DragonWave Inc said revenue for the fourth quarter would miss its forecast, citing lower sales in the microwave technology business it bought from Nokia Siemens Networks last year. DragonWave shares slid 25 percent to a three-month low of C$1.81 on the Toronto Stock Exchange on Monday. Ottawa-based DragonWave also said it will cut costs further but did not specify what the measures were. Chief Financial Officer Russell Frederick said he could not provide more information on cost cutting. ... Full Story | Top |
| Lara Croft loses the guns, curves, braid in new "Tomb Raider" Monday, Mar 04, 2013 07:36 AM PST  LONDON (Reuters) - Gun-toting adventurer Lara Croft is back in the latest "Tomb Raider" game to fight for new players but she comes gadget-free, without the improbable curves and trademark braid, and with an adults-only rating. Development company Crystal Dynamics, has stripped Croft of her previous history in the game published by Japan's Square Enix, and reinvented her as a 21-year-old novice with no experience of raiding tombs, climbing or shooting. ... Full Story | Top |
| Denmark wants $1 billion in back-taxes from Microsoft: local radio Monday, Mar 04, 2013 06:24 AM PST  COPENHAGEN (Reuters) - Denmark wants Microsoft to pay $1 billion in back taxes in one of the biggest tax cases in the country's history, local media reported on Monday. The Danish tax authority is in negotiations with Microsoft over unpaid taxes stemming from the $1.88 billion takeover of Danish software company Navision in 2002, Danish Radio DR said, quoting unnamed sources. The tax authority claims Microsoft sold the rights to Navision's successful business planning software, now under the name of Dynamics NAV, at below market value to a subsidiary in Ireland, DR said. ... Full Story | Top |
| Hackers attack Czech news websites in latest media assault Monday, Mar 04, 2013 02:35 AM PST  PRAGUE (Reuters) - Hackers attacked some of the Czech Republic's main news websites on Monday, slowing or crashing their homepages in the latest in a series of cyber assaults on media outlets across the world. Executives from three of the Central European state's most widely read online titles - www.ihned.cz, www.idnes.cz and www.novinky.cz - said their websites had been disrupted. There was no immediate information on who was responsible. The hackers flooded the websites with digital requests, overwhelming their systems - a common tactic known as a distributed denial of service attack. ... Full Story | Top |
| Sony to sell all DeNA shares it owns to Nomura Securities Sunday, Mar 03, 2013 11:23 PM PST  TOKYO (Reuters) - Sony Corp said on Monday that it would sell all the shares it owns in Japanese online game provider DeNA Co Ltd to Nomura Securities. Sony said in a statement that it expected to post a gain of 40.9 billion yen ($437 million), to be recorded as operating income in the fourth quarter of the fiscal year that ends this month. Nomura Securities is a unit of Nomura Holdings Inc. ($1 = 93.4450 Japanese yen) (Reporting by Tokyo Newsroom; Editing by Chris Gallagher) Full Story | Top |
| Sony looking to beat Chinese rivals to be No.3 in smartphones Sunday, Mar 03, 2013 09:30 PM PST  TOKYO (Reuters) - Sony Corp said it aims to win third place in smartphone markets around the world behind Apple Inc and Samsung Electronics Co, pitting it against Chinese companies Huawei Technology and and ZTE that are looking to become the third big player in mobile devices. Sony will alter smartphone development for each market, Kunimasa Suzuki, the head of Sony's mobile business, said at a roundtable briefing in Tokyo, indicating that the Japanese company may produce cheaper models for developing nations. ... Full Story | Top |
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