| | |
| Chinese online cosmetics retailer Jumei files for $400 million U.S. IPO Friday, Apr 11, 2014 03:42 PM PDT (Reuters) - Jumei International Holding Ltd, backed by venture-capital firm Sequoia Capital, filed with U.S. regulators on Friday to raise up to $400 million in an initial public offering of American Depositary Shares. Goldman Sachs (Asia) LLC, Credit Suisse and J.P. Morgan were the lead underwriters for the IPO, the company told the U.S. Securities and Exchange Commission in a preliminary prospectus. Jumei.com, which is among the top 20 most visited e-commerce websites in China, received an investment of more than $10 million from Sequoia Capital in 2011, according to Thomson Reuters publication IFR. Full Story | Top |
| As Internet shares break down, investors see value in old tech Friday, Apr 11, 2014 03:41 PM PDT  Intel, Oracle, Microsoft and Cisco, known as the four horsemen during the late 1990s technology boom due to their strong performance and leading market share, have all rallied since the beginning of March even as stocks of many other tech companies have been crushed. These legacy names have emerged as an alternative for those who want exposure to the tech sector but are spooked by the slump in high-growth stocks like Netflix. Full Story | Top |
| Microsoft sued over browser miscue that led to $731 million EU fine Friday, Apr 11, 2014 03:32 PM PDT  By Bill Rigby SEATTLE (Reuters) - Microsoft Corp's board faces a lawsuit over the way it handled an error with its Internet Explorer browser that ended up costing the company a record-breaking $731 million fine by European antitrust regulators. The lawsuit, brought by shareholder Kim Barovic in federal court in Seattle on Friday, charges that directors and executives, including founder Bill Gates and former Chief Executive Officer Steve Ballmer, failed to manage the company properly and that the board's investigation was insufficient into how the miscue occurred. The legal action is the first to emerge from a humiliating episode for Microsoft, which the software company has never fully explained and has accounted for only as a "technical error." In March last year, the European Union levied its largest ever antitrust fine against Microsoft for breaking a legally binding commitment made in 2009 to ensure that consumers in Europe had a choice of how they access the internet, rather than defaulting to Microsoft's Internet Explorer browser. Full Story | Top |
| Feds issue warning: Hackers trying to exploit 'Heartbleed' bug Friday, Apr 11, 2014 02:59 PM PDT  Hackers are targeting vulnerable networks in an attempt to exploit the "Heartbleed" bug, the U.S. Government warned on Friday. Full Story | Top |
| White House, spy agencies deny NSA exploited 'Heartbleed' bug Friday, Apr 11, 2014 02:59 PM PDT  By Mark Hosenball and Will Dunham WASHINGTON (Reuters) - The White House and U.S. intelligence agencies said on Friday neither the National Security Agency nor any other part of the government were aware before this month of the "Heartbleed" bug, denying a report that the spy agency exploited the glitch in widely used Web encryption technology to gather intelligence. The White House, the NSA and the Office of the Director of National Intelligence issued statements after Bloomberg reported that the NSA was aware of the bug for at least two years and exploited it in order to obtain passwords and other basic information used in hacking operations. "Reports that NSA or any other part of the government were aware of the so-called Heartbleed vulnerability before April 2014 are wrong," White House National Security Council spokeswoman Caitlin Hayden said in a statement. Full Story | Top |
| Amazon to unveil smartphone in time for winter holidays: WSJ Friday, Apr 11, 2014 02:47 PM PDT  Amazon.com Inc is preparing to launch its long-rumored smartphone in the second half of the year, the Wall Street Journal reported on Friday, citing people briefed on the company's plans. The Internet retailer would jump into a crowded market dominated by Apple Inc and Samsung Electronics Co Ltd. The company has recently been demonstrating versions of the handset to developers in San Francisco and Seattle. Amazon has made great strides into the hardware arena as it seeks to boost sales of digital content and puts its online store in front of more users. Amazon recently launched its $99 Fire TV video-streaming box and its Kindle e-readers and Fire tablets already command respectable U.S. market share after just a few years on the market. Full Story | Top |
| Paul Allen's tech adviser out after less than six months: source Friday, Apr 11, 2014 02:28 PM PDT  An executive hired by billionaire Paul Allen to be his personal and professional technology adviser has left the job less than six months after starting work for the Microsoft Corp co-founder, a source familiar with the matter said on Friday. Parag Garg, who took the job in November, was a high-profile hire for Allen. It was not clear if Garg was fired or resigned, the source said. Garg previously worked at Amazon.com Inc and before that worked on Microsoft's Xbox team. Full Story | Top |
| IAC increases stake in Tinder: report Friday, Apr 11, 2014 01:58 PM PDT  (Reuters) - The shares of Barry Diller's IAC/InterActive Corp rose as much as 3 percent to $70.34 on Friday after it increased its stake in the popular dating app, Tinder, according to a Bloomberg report. IAC bought another 10 percent of Tinder for $500 million from investor Chamath Palihapitiya, Bloomberg reported, adding that Tinder was now valued at $5 billion. IAC Chief Executive Sam Yagan confirmed the transaction to Forbes, but said the valuation of $5 billion was "nowhere near the truth." Palihapitiya tweeted on Friday: "My Tinder sale for $500M is inaccurate. ... Full Story | Top |
| U.S. court voids man's conviction for hacking celebrities' iPads Friday, Apr 11, 2014 01:05 PM PDT  A federal appeals court on Friday unanimously threw out the conviction of an Arkansas man for stealing the personal data of about 120,000 Apple iPad users, including big-city mayors, a TV news anchor and a Hollywood movie mogul. The 3rd U.S. Circuit Court of Appeals said the prosecution of Andrew Auernheimer did not belong in New Jersey, hundreds of miles from his alleged crimes, and as a result, his November 2012 conviction and 41-month prison sentence could not stand. Writing for a three-judge panel, Circuit Judge Michael Chagares also admonished prosecutors that the Internet's "ever-increasing ubiquity" did not give the government carte blanche to prosecute cybercrime wherever it wishes. "Cybercrimes do not happen in some metaphysical location that justifies disregarding constitutional limits on venue." Auernheimer, who went by the names Weev, Weelos and Escher, had been convicted by a Newark jury of one count of conspiracy to violate the federal Computer Fraud and Abuse Act by accessing AT&T Inc servers, and one count of identity theft. Full Story | Top |
| Wireless telecom service provider Goodman Networks files for $100 million IPO Friday, Apr 11, 2014 12:48 PM PDT (Reuters) - Wireless telecommunication services provider Goodman Networks Inc filed with U.S. regulators to raise up to $100 million in an initial public offering of its common stock. BofA Merrill Lynch and Jefferies are the lead underwriters for the offering, the company told the U.S. Securities and Exchange Commission in a preliminary prospectus. Founded in 2000, Goodman Networks' most prominent clients include AT&T Inc, Alcatel-Lucent USA Inc, DIRECTV, Nokia Solutions and Networks BV, and Verizon Wireless. The company said it intended to list on the Nasdaq under the symbol "GNET." The filing did not reveal how many shares Goodman Networks planned to sell or their expected price. Full Story | Top |
| Individuals targeted as San Francisco tech money protests intensify Friday, Apr 11, 2014 11:46 AM PDT  By Sarah McBride SAN FRANCISCO (Reuters) - Demonstrations against the grip on San Francisco held by wealthy technology workers took a personal turn on Friday with protesters taking aim at a Google lawyer they say personifies the tensions being stirred by abundant tech money. Jack Halprin, a landlord in the city's gentrifying Mission district, became the focus of the latest blockade of a tech company commuter bus, with protesters demanding Google ask Halprin to rescind eviction notices he has sent his tenants. Protesters told Reuters they will increasingly target individuals as part of a strategy to draw attention to the growing divide between rich and poor in San Francisco, a rift widened by a tech industry boom that is inflating rents and exacerbating social problems such as evictions. "When you put a face on it, it suddenly becomes more real," Erin McElroy, an organizer at Eviction-Free San Francisco, said of what she views as a technology-driven housing crunch. Full Story | Top |
| Exclusive: Microsoft, Apple diverge on bankrolling big patent buyer Friday, Apr 11, 2014 11:27 AM PDT  By Dan Levine SAN FRANCISCO (Reuters) - Patent buyer Intellectual Ventures has persuaded Microsoft and Sony to invest in its latest acquisition fund while Apple and Intel, which invested with IV previously, declined to participate, according to people briefed on the fundraising. "Microsoft and Sony's investments give IV a fresh war chest to buy new patents," said Kevin Jakel, chief executive of Unified Patents, which advises tech companies on alternatives to patent aggregators like IV. But Apple and Intel's decision is significant because the biggest tech companies have supported IV in the past. Full Story | Top |
| Virtual reality opens London Marathon to all Friday, Apr 11, 2014 07:49 AM PDT  By Mitch Phillips LONDON (Reuters) - "You're virtually there" is a common shout of encouragement to ailing runners in the London marathon but thanks to a new "interactive 3D experience" athletes the world over will be able to navigate the course from the comfort of their own treadmill. Marathon organizers have combined with established treadmill video producers Paofit to create the new system that combines HD video of the entire 26.2 mile, icon-studded route with virtual reality avatars. "It's a fantastic innovation," race director Hugh Brasher told Reuters on Friday shortly before running a treadmill mile as part of the system's official launch. "You can see the famous landmarks of the Cutty Sark, Tower Bridge, Canary Wharf, the London Eye, the Houses of Parliament and Buckingham Palace and even experience the thrill of the finish on The Mall. Full Story | Top |
| China bitcoin exchanges say certain banks to close their accounts Friday, Apr 11, 2014 06:47 AM PDT SHANGHAI (Reuters) - Two of China's largest bitcoin exchanges said their trading accounts at certain domestic banks would be closed down by the lenders next week, the latest blow to the virtual currency. Unlike conventional money, bitcoin is generated by computers and is not backed by any central bank or government, or by physical assets. Huobi.com said in a statement posted on its website that Industrial and Commercial Bank of China Ltd would close its accounts by April 18. However, it added accounts at other banks were currently unaffected. ... Full Story | Top |
| Staff exodus to weigh on Infosys turnaround efforts Friday, Apr 11, 2014 04:42 AM PDT  By Nivedita Bhattacharjee MUMBAI (Reuters) - An exodus of senior executives and staff at India's second largest IT outsourcing firm, Infosys Ltd, could hamper efforts to win lucrative contracts in the United States and Europe, and weigh on its profit growth outlook for this year. Nearly a fifth of the workforce had left the company in the quarter ended December following the return from retirement of founder N.R. Narayana Murthy in June to turn around the company after a string of disappointing results. So far, nine senior executives have left. Infosys has the highest attrition rate among India's top-three IT outsourcing firms. Full Story | Top |
|
No comments:
Post a Comment