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| Hewlett-Packard, CEO Whitman ordered to defend securities class action Tuesday, Nov 26, 2013 07:27 PM PST  A California federal judge has ordered Hewlett-Packard Co and Chief Executive Meg Whitman to defend a securities shareholder class action that claims they knew statements about HP's acquisition of software company Autonomy were misleading. Senior District Judge Charles Breyer issued his ruling in San Francisco federal court on Tuesday. The ruling also dismissed claims against five other former directors and executives of the information technology supplier, including one-time CEO Leo Apotheker. The securities class action against HP and its executives was brought last November by investors including lead plaintiff PGGM Vermogensbeheer B.V., a Dutch pension administrator operating in the healthcare and social work sectors. Full Story | Top |
| HP enterprise sales pickup stirs turnaround hopes Tuesday, Nov 26, 2013 05:12 PM PST  By Poornima Gupta SAN FRANCISCO (Reuters) - Hewlett-Packard Co beat revenue forecasts as sales growth in its enterprise group inspired cautious optimism about the company's turnaround plan, and its shares rallied more than 7 percent. Revenue from the sprawling enterprise group, which Chief Executive Meg Whitman is focused on expanding as personal computer sales crumble globally, climbed 2 percent, aided by a 10 percent rise in server sales and 3 percent growth of the networking business. Wall Street had low expectations for HP following a disappointing third-quarter performance, and after rivals such as International Business Machines Corp and Cisco Systems Inc had reported poor results. The pickup in enterprise hardware revenue in the fiscal fourth quarter - coming after a 9 percent slide in sales from the same division in the previous three months - helped shore up confidence in Whitman's turnaround effort. Full Story | Top |
| New York Times CEO says Chinese language site under review Tuesday, Nov 26, 2013 04:02 PM PST  By Jennifer Saba NEW YORK (Reuters) - New York Times Co Chief Executive Officer Mark Thompson said the publisher is going to keep all its money losing operations under review - including those in China - as he seeks to negotiate the newspaper's increasing shift towards a digital landscape. The New York Times Chinese language website has been blocked in China ever since it published an article in October 2012 about the family wealth of Wen Jiabao, the former premier. Thompson said in an interview with Reuters on Tuesday that the website, which was launched in a beta version in June 2012, got off to an encouraging start. "The fact that we can't be seen officially inside China means the revenue is not as large as we would have wished it to have been," he said. Full Story | Top |
| New Jersey Internet gambling revenue estimates overblown :Fitch Tuesday, Nov 26, 2013 01:39 PM PST (Reuters) - Online gambling alone won't save struggling Atlantic City casinos, and the revenues it generates could fall far short of projections by Governor Chris Christie, Fitch Ratings said on Tuesday. Fitch estimates that casinos would generate up to $300 million in revenues from online gambling next year, ramping up to as much as $750 million within several years. Those estimates are well below Christie's projected $1.2 billion over the next year, Fitch said. New Jersey became the third and most populous U.S. state to launch Internet gaming when state regulators approved 13 websites run by six Atlantic City casino operators to go live to the public at midnight on Monday. Full Story | Top |
| Take-Two to buy back all of Icahn shares; directors leave Tuesday, Nov 26, 2013 01:35 PM PST  By Sinead Carew and Malathi Nayak NEW YORK/SAN FRANCISCO (Reuters) - Activist investor Carl Icahn will sell all his shares in Take-Two Interactive Software Inc back to the videogame company, netting a fat return on his investment in the "Grand Theft Auto" publisher. The company said it bought the stock at Monday's closing price of $16.93 per share, reflecting confidence it will reach its target and report record results in fiscal 2014. Full Story | Top |
| On the street, China's Jingdong aims to steal march on Alibaba Tuesday, Nov 26, 2013 01:20 PM PST By Paul Carsten BEIJING (Reuters) - Courier Chen Honglei packs boxes of clothing, appliances and utensils into his electric three-wheeler to deliver to customers in northwestern Beijing, helping China's second largest e-commerce company Jingdong maintain its logistics edge in a cut-throat market. Larger rivals Tmall and Taobao, the online marketplaces run by mega-firm Alibaba Group Holding Ltd, still depend on merchants and external courier firms for their logistics. "We work until everything is delivered," said Chen, working with a team to move the packages from a canal-side warehouse in northwest Beijing. Chen is one of a 10,000-strong fleet of couriers that Jingdong uses to deliver packages to major locations across China within 24 hours. Full Story | Top |
| Small software maker wins $24.8 million judgment vs. Lockheed Tuesday, Nov 26, 2013 01:19 PM PST By Andrea Shalal-Esa WASHINGTON (Reuters) - Command Technology Inc, a privately held firm that developed electronic maintenance manuals for Lockheed Martin Corp's F-16 fighter jet, has won a $24.8 million judgment against the Pentagon's biggest supplier for unfair competition. Groton, Connecticut-based Command makes similar software for many other U.S. weapons systems, but sued Lockheed after being shut out of the work on the 4,500 F-16 fighter jets that have been sold to the U.S. military and two dozen other countries. A jury in the Circuit Court of Maryland for Montgomery County, where Lockheed is based, found after a week-long trial that Lockheed competed unfairly and injured Command, according to a verdict sheet filed late Monday with the court. The jury also found Lockheed "torturously interfered" with Command's economic relationships. Full Story | Top |
| Privately held Cox looking at bid for Time Warner Cable: WSJ Tuesday, Nov 26, 2013 12:52 PM PST  (Reuters) - Privately held Cox Communications is considering bidding for Time Warner Cable either on its own or as part of a joint bid, The Wall Street Journal reported on Tuesday, citing anonymous sources. Recent media reports suggest Time Warner Cable is currently being circled by Charter Communications and top cable provider Comcast could jump into the fray with a joint bid for Time Warner Cable along with Charter. A Time Warner Cable spokeswoman did not immediately respond on Tuesday. Time Warner Cable shares jumped $5.02, or 3.8 percent, to $136.39. Full Story | Top |
| H3G joins T-Mobile Austria in telco auction appeal Tuesday, Nov 26, 2013 11:17 AM PST  Hutchison Whampoa's Austrian telecoms unit said it would appeal against the result of a spectrum auction that cost the country's three carriers 2 billion euros ($2.7 billion). Deutsche Telekom's T-Mobile Austria also plans a legal challenge, its chief executive has told Reuters, while Telekom Austria, the country's biggest operator, says it will decide next month whether to appeal. Hutchison's H3G, the smallest of Austria's three carriers, came off worst in the 4G spectrum sale that also re-auctioned frequencies already in use, winning none of the most valuable 800 megahertz spectrum. Full Story | Top |
| Insight: At Web startups, glossy numbers often mean little Tuesday, Nov 26, 2013 11:08 AM PST By Alexei Oreskovic SAN FRANCISCO (Reuters) - A growing group of social and mobile Web services are poised to become the next Facebook Inc. Just ask them. a messaging service's volume of messages, which could have been sent by either a very small, or a very large, number of users; Full Story | Top |
| Vivendi supervisory board backs demerger, Bollore Tuesday, Nov 26, 2013 10:22 AM PST  Vivendi's supervisory board on Tuesday unanimously backed a plan to demerge the group's SFR business as it reduces exposure to telecoms and focuses on media. The French group named Hearst Magazines' Arnaud de Puyfontaine head of media and content activities to run the remaining businesses - Universal Music Group, pay-TV company Canal Plus and Brazilian telecom unit GVT. The supervisory board also confirmed top shareholder Vincent Bollore as chairman of the future Vivendi. The conglomerate is in the midst of a broad revamp to pay down debt and focus on media, selling its stakes in video games publisher Activision Blizzard and Maroc Telecom, as well as agreeing a deal to take full control of Canal+ France. Full Story | Top |
| Hellman & Friedman to buy Applied Systems for $1.8 billion Tuesday, Nov 26, 2013 09:18 AM PST (Reuters) - Private equity firm Hellman & Friedman LLC (H&F) has struck a deal to buy insurance software provider Applied Systems from Bain Capital LLC for $1.8 billion, H&F said on Tuesday. JMI Equity, a private equity firm focused on building software and technology-enabled services businesses, will be investing alongside H&F, it said, without giving details. Under the terms of the agreement, Applied Systems' senior management will maintain a significant ownership stake in the company, H&F said. Applied Systems, founded in 1983, sells its software to insurance agencies and brokerages. Full Story | Top |
| German watchdog ends Amazon probe after pricing concession Tuesday, Nov 26, 2013 05:36 AM PST  Germany's antitrust watchdog has dropped an investigation into Amazon after the world's biggest Internet retailer agreed to stop forcing third-party merchants to offer their cheapest price when selling products on its platform. Amazon said in August it would stop its policy in the European Union that prevented merchants selling on its Marketplace from offering lower prices on other websites, including their own. Andreas Mundt, the president of the German cartel office, said it had decided to set aside the case against Amazon after the company agreed to cancel that demand from the terms and conditions of its contracts with merchants. "Amazon is the largest online retailer and is in direct competition with Marketplace merchants," he said in a statement. Full Story | Top |
| China probe may be aimed at Qualcomm's 4G royalties Tuesday, Nov 26, 2013 03:27 AM PST  China's anti-trust investigation into Qualcomm, the world's biggest smartphone chip maker, is likely tied to the impending $16 billion rollout of commercial fourth-generation services by China's big telecoms carriers. The probe by the National Development and Reform Commission (NDRC), China's top economic planning body and price regulator, is a likely pre-emptive measure that will allow China's telecom providers to gain leverage in royalty negotiations ahead of the rollout of new high-speed mobile networks, analysts said. China Mobile, China Unicom and China Telecom are investing more than 100 billion yuan ($16.4 billion) in system equipment for the next-generation wireless networks, which are expected to be introduced nationwide over the coming year. Full Story | Top |
| Apple supplier Biel Crystal violates workers rights: HK activists Monday, Nov 25, 2013 09:21 PM PST Biel Crystal Manufactory Ltd, a Hong-Kong based company that makes screens for Apple Inc, is violating workers' rights at its Chinese factories, a Hong Kong rights group alleged in a report. The Students & Scholars Against Corporate Misbehaviour (SACOM) report said Biel Crystal, which makes iPhone screens, requires its employees to work 11-hour shifts, seven days a week, with only one day off each month. At least five workers at the firm's Guangdong factory in mainland China committed suicide since 2011, it added. There was no immediate comment from Biel Crystal on the report. Full Story | Top |
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