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| Netflix has good hand with "House of Cards", shares soar 24 percent Monday, Apr 22, 2013 08:01 PM PDT  By Lisa Richwine (Reuters) - Netflix Inc impressed investors with solid subscriber growth and better-than-expected profits in the first quarter, sending shares of the video subscription service soaring 24 percent higher in after-hours trade. A big push into original shows, a strategy aimed at hooking new customers with content they can't get anywhere else, seems to be working, with its February release of the series "House of Cards", a drama starring Kevin Spacey, generating plenty of buzz. ... Full Story | Top |
| Senate votes to move forward on bill taxing Internet sales Monday, Apr 22, 2013 03:48 PM PDT  By Kim Dixon and Nanette Byrnes WASHINGTON (Reuters) - A measure to empower U.S. states to require out-of-state retailers to collect online sales tax cleared a legislative hurdle in the Senate on Monday, after earlier winning official backing from President Barack Obama. Seventy-four senators voted to limit debate and move forward with a final vote on the proposed legislation in the Democratic-controlled Senate, likely on Wednesday. ... Full Story | Top |
| US trade panel says Apple did not violate Google patent Monday, Apr 22, 2013 03:28 PM PDT  By Diane Bartz WASHINGTON (Reuters) - Apple Inc scored a win on Monday when the U.S. International Trade Commission ruled that it did not violate a Google patent to make the popular iPhones. Apple had initially been accused of infringing on six patents for iPhone-related technology covering everything from reducing signal noise to programming the device's touch screen so a user's head does not accidentally activate it while talking on the phone. If Apple had been found guilty of violating the patent, its devices could have been banned from being imported into the United States. ... Full Story | Top |
| Netflix adds 2 million U.S. streaming customers, shares jump 24 percent Monday, Apr 22, 2013 03:28 PM PDT  By Lisa Richwine (Reuters) - Netflix Inc reported on Monday a first-quarter profit that beat Wall Street expectations as the dominant video rental service added 2 million new U.S. streaming subscribers, and its shares soared 24 percent. Netflix shares rose to $216.62 in after-hours trading, after closing at $174.37 on Nasdaq. For January through March, Netflix recorded $19 million in net income, excluding a loss for retiring debt, and adjusted earnings per share of 31 cents. The results topped Wall Street analysts' average forecast of 19 cents per share, according to Thomson Reuters I/B/E/S. ... Full Story | Top |
| Senate votes to move forward on Internet sales tax bill Monday, Apr 22, 2013 03:21 PM PDT WASHINGTON (Reuters) - A bill giving U.S. states the authority to require out-of-state retailers to collect sales tax for online purchases cleared a procedural hurdle in the Senate on Monday, paving the way for a final vote later in the week. Senators voted to end debate on the bipartisan bill, which is opposed by many online retailers. A bigger obstacle to the effort is in the U.S. House of Representatives, where many Republicans see it as a new tax. (Reporting By Kim Dixon; editing by Christopher Wilson) Full Story | Top |
| Sprint forms committee, hires advisers to review Dish bid Monday, Apr 22, 2013 02:30 PM PDT  NEW YORK (Reuters) - Sprint Nextel said on Monday that its board had formed a special committee of independent directors to review Dish Network's $25.5 billion takeover bid for the No. 3 U.S. mobile provider. Sprint had said last week that it would evaluate the Dish offer, which challenges Sprint's October agreement to sell 70 percent of its shares to Japan's SoftBank Corp for $20.1 billion. ... Full Story | Top |
| Twitter lands ad agency partnership for major revenue boost Monday, Apr 22, 2013 02:16 PM PDT  By Jennifer Saba (Reuters) - Twitter has struck one of its biggest advertising deals to date with media agency Starcom MediaVest Group (SMG), the companies said, in the social media site's latest effort to boost revenue. The multi-year agreement, which includes preferred inventory and a direct pipeline into Twitter's data feed for media planning purposes, is worth up to hundreds of millions of dollars, according to sources familiar with the deal. They declined to be named because the transaction details are private. ... Full Story | Top |
| ValueAct takes $2 billion Microsoft stake Monday, Apr 22, 2013 02:01 PM PDT  (Reuters) - Activist investor ValueAct Capital has taken a $2 billion stake in Microsoft Corp , according to ValueAct's chief executive, helping Microsoft shares climb to a seven-month high. The stake was confirmed by ValueAct CEO Jeffrey Ubben at an investor conference in New York, after being first reported by CNBC television. Microsoft shares rose as much as 4.8 percent to $31.18, touching their highest levels since last September, before paring gains. With Monday's jump, the stock is up 16 percent this year, putting it on track for its best annual performance since 2009. ... Full Story | Top |
| Nokia says awarded injunction against HTC One Monday, Apr 22, 2013 01:02 PM PDT  (Reuters) - Nokia Oyj said it won a court injunction that would prevent rival HTC Corp from using microphone components made by STMicroelectronics NV in HTC One phones. The Finnish phone maker said in a statement announcing the decision by the Amsterdam District Court that the microphone components were invented by Nokia and manufactured exclusively for Nokia phones. "HTC has no license or authorization from Nokia to use these microphones or the Nokia technologies from which they have been developed," Nokia said. ... Full Story | Top |
| EU lifts Myanmar sanctions despite human rights concerns Monday, Apr 22, 2013 11:49 AM PDT  By Adrian Croft and Justyna Pawlak LUXEMBOURG (Reuters) - The European Union agreed on Monday to lift all sanctions on Myanmar, except for an arms embargo, despite a Human Rights Watch report which accused authorities of complicity in the mass killing of Muslims in the west of the country last year. Lifting the sanctions gives more certainty to European firms contemplating investments in one of the least developed markets in Asia. Myanmar, formerly known as Burma, has significant natural resources and borders economic giants China and India. ... Full Story | Top |
| Russian website Avito seen doubling revenues Monday, Apr 22, 2013 10:41 AM PDT By Mia Shanley STOCKHOLM (Reuters) - The Swedish co-founder of Russia's biggest classifieds website Avito expects it to more than double revenues this year, proving smaller players can take a lead in an industry dominated by heavyweights like eBay and Craigslist. Jonas Nordlander's latest start-up, launched in 2007, ranks with Craigslist in the United States and China's 58.com with its 40 million unique monthly visitors, and its rapid rise has already attracted investor interest. ... Full Story | Top |
| Infineon, Philips may have colluded on EU smart chip prices Monday, Apr 22, 2013 10:33 AM PDT By Foo Yun Chee BRUSSELS (Reuters) - Infineon Technologies, Philips and several other chipmakers could face fines after European competition regulators said they may have colluded to fix prices for chips used in mobile SIM cards, passports and bank cards. The European Commission said it sent documents setting out its concerns to companies it suspected of behaving like a cartel in the market for smart card chips, which are also used in pay television systems and identity cards. ... Full Story | Top |
| German state fines Google for Street View data breach Monday, Apr 22, 2013 10:19 AM PDT  FRANKFURT (Reuters) - A German privacy regulator has fined Google for illegally recording signals from Wifi networks while it was taking photographs for its Street View service. Google's roving Street View vans picked up large amounts of personal data such as e-mails, passwords, photos and online chat protocols, said the commissioner for data protection and freedom of information in Hamburg city state, Johannes Caspar. ... Full Story | Top |
| Baidu rejects "false" statement it plans to buy Zynga Monday, Apr 22, 2013 07:09 AM PDT (Reuters) - Chinese search engine firm Baidu Inc rejected as fake a press release issued on Monday that said it was to buy U.S. social gaming company Zynga Inc. Zynga shares jumped 4 percent in heavy premarket trading after the press release, on website www.prurgent.com, said Baidu would offer $10 per share for the company. Zynga shares eased back to $3.24, up 1.5 percent, in morning trade on the Nasdaq. Baidu's director of international communications, Kaiser Kuo, said the statement was false. Zynga was not available for comment. ... Full Story | Top |
| Google defends UK tax payments, says good for country Monday, Apr 22, 2013 06:12 AM PDT  LONDON (Reuters) - Google executive chairman Eric Schmidt has defended his company's low tax payments in Britain, saying the company follows the letter of the law and makes a positive contribution to the British economy. A British parliamentary committee last year accused Google, Amazon.com Inc and Starbucks Corp of "immorally" minimizing their tax bills. Schmidt rejected the criticism in a radio interview with Britain's BBC. ... Full Story | Top |
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