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| Nokia names Rajeev Suri as new CEO, gives extra dividend Monday, Apr 28, 2014 08:43 PM PDT By Sakari Suoninen and Jussi Rosendahl HELSINKI (Reuters) - Rajeev Suri will become the new chief executive of Finnish telecommunications gear maker Nokia, the company said on Tuesday, adding that it would return an extra 1 billion euros to shareholders from the sale of its phone unit. Suri, 46, until now led Nokia Solutions and Networks (NSN), the smaller network equipment unit of Nokia when the company still made mobile phones. Suri is credited with turning the unit around, and last year it contributed most of the 12.7 billion euro ($17.58 billion)turnover Nokia made from its continuing operations. "Rajeev is the right person to lead the company forward," Nokia Chairman Risto Siilasmaa said in a statement. Full Story | Top |
| Samsung Electronics sells 89 million smartphones in first-quarter, market share falls: research firm Monday, Apr 28, 2014 07:32 PM PDT  SEOUL (Reuters) - Samsung Electronics Co Ltd's smartphone shipments rose 28 percent to 89 million units in the first quarter, but the world's top handset maker lost market share to Chinese and other rivals, research firm Strategy Analytics said on Tuesday. Samsung's smartphone market share fell to 31.2 percent from 32.4 percent a year ago, followed by Apple Inc which dropped to 15.3 percent from 17.5 percent, Strategy Analytics said. China's Huawei Technologies had 4.7 percent market share, unchanged from the previous year, while Lenovo Group Ltd boosted its share to 4.7 percent from 3. ... Full Story | Top |
| Alibaba's founders set up charitable trust seen valued at $3 billion Monday, Apr 28, 2014 07:29 PM PDT  The founders of Chinese Internet company Alibaba Group Holding Ltd have set up a charitable trust focusing on the environment and health that could be worth as much as $3 billion, making it one of the biggest in Asia. Jack Ma, Alibaba's founder and executive chair, and Joe Tsai, a co-founder of Alibaba, created the trust that will be funded by share options they own that represent about 2 percent of Alibaba's equity, the company said in a statement on its microblog on Thursday. Full Story | Top |
| Samsung Electronics says expects second-quarter handset shipments to be similar to first quarter Monday, Apr 28, 2014 06:32 PM PDT Samsung Electronics Co Ltd said on Tuesday it expects second-quarter handset shipments to be similar to the January-March period, though smartphones should make up a bigger portion. Robert Yi, Samsung's head of investor relations, said the South Korean firm shipped 113 million handsets in the first quarter with the proportion of smarpthones in the high 70-percent range. The executive said that smartphones should make up around 80 percent of handset shipments in the April-June quarter. Full Story | Top |
| Yahoo ramps up video effort with new online comedy video series Monday, Apr 28, 2014 05:45 PM PDT  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Yahoo Inc bolstered its line-up of online video programming on Monday with two original comedy series and a new Web channel that will stream live concerts. The two comedy series, which Yahoo will show on its website next year, are the first long-form original comedies in Yahoo's growing selection of online video. Each series will consist of eight 30-minute episodes which Yahoo will post on its website all at once. The new programs underscore the struggling Web portal's efforts to bolster its traffic and its advertising revenue by streaming more video programs on its website. Full Story | Top |
| Samsung Electronics tips pickup as first quarter profit matches guidance Monday, Apr 28, 2014 05:42 PM PDT  Samsung Electronics Co Ltd reported its second straight fall in quarterly profit on Tuesday, as weakness in flat-screen panels and the maturing high-end smartphone business weighed on the South Korean giant's earnings. But the company said the football World Cup in Brazil should help boost sales of screens and smartphones in the current quarter, as fans invest in fancy gadgets to watch the action. The world's biggest smartphone maker is also banking on its flagship Galaxy S5 handset, launched in April, to outsell its predecessor and widen profit margins, a senior executive told Reuters earlier. "Samsung is expected to see profits rally in the second quarter and beyond, on the back of improved sales of display panels and home appliances," Samsung said in a statement. Full Story | Top |
| Univision says Comcast buy of TWC could be 'bad for Hispanic audiences' Monday, Apr 28, 2014 05:07 PM PDT The head of the Spanish-language television network Univision said on Monday that Comcast Corp's plan to buy rival Time Warner Cable Inc could be "bad for Hispanic audiences." Univision President Randy Falco said on a conference call with media analysts that the proposed $45 billion deal, which would bring together the No. 1 and No. 2 U.S. cable providers, was a "cause for concern." "We are hoping at the very least there is that scrutiny and potentially much tougher restrictions added to the existing consent decree (prompted by a 2011 deal) that will protect Comcast competitors such as Univision who are serving minority communities in particular," said Falco. Falco stopped short of asking the Justice Department and Federal Communications Commission, which are reviewing the deal to ensure it is legal, to block it outright. On the call, Falco said a primary worry was that Comcast, with its range of movies, television shows and sports shows, would be reluctant to carry networks that it did not own, such as Univision. Full Story | Top |
| Samsung Electronics first-quarter operating profit dips 3 percent, in line with guidance Monday, Apr 28, 2014 04:41 PM PDT SEOUL (Reuters) - South Korea's Samsung Electronics Co Ltd on Tuesday reported a 3.3 percent fall in first quarter operating profit, broadly in line with earlier guidance, as returns weakened in its mainstay smartphone business. The world's biggest manufacturer of smartphones booked a January-March operating profit of 8.5 trillion Korean won ($8.2 billion), compared with guidance of 8.4 trillion won. Operating profit in its mobile division fell to 6.43 trillion from 6.51 trillion won in the year prior and 5.47 trillion won in the previous quarter. ... Full Story | Top |
| Cost of cyber attacks on British companies rises -survey Monday, Apr 28, 2014 04:03 PM PDT The financial damage to British companies from cyber security breaches has doubled in the past year, according to a government-commissioned survey released on Tuesday. Though the number of companies hit by information security breaches was down on the previous 12 months, the survey found that the severity and impact of attacks has increased. The average cost of the worst cyber security breach for big companies was between 600,000 pounds ($1 million) and 1.2 million pounds, up from 450,000-850,000 pounds in the 2013 survey. Cyber attacks on companies in Europe and the United States have increased in regularity and severity in recent years as "hacktivists" and criminals become increasingly sophisticated, requiring businesses to strengthen their defenses. Full Story | Top |
| AT&T, Honeywell to challenge Gogo's airborne Web business Monday, Apr 28, 2014 03:48 PM PDT By Alwyn Scott SEATTLE (Reuters) - AT&T Inc and Honeywell International Inc are teaming up to offer high-speed, in-flight Internet in the United States, the companies said on Monday, challenging industry leader Gogo Inc. GoGo shares fell 14 percent in after-hours trading following the announcement of the new service, expected by late 2015. It will use an AT&T 4G LTE network and Honeywell systems and hardware to supply broadband service to business, commercial and general aviation passengers, as well as to airlines seeking more connectivity onboard planes. Honeywell said the deal could provide it with $1 billion in revenue over the next decade. The two companies have signed a letter of intent and expect to sign a formal contract shortly, Honeywell said. Full Story | Top |
| Adobe fixes Flash Player bug used in attack on Syrian government website Monday, Apr 28, 2014 12:37 PM PDT  (Reuters) - Adobe Systems Inc released an update on Monday to its widely used Flash Player software to fix a bug that cybersecurity company Kaspersky Lab said had been exploited to attack visitors to a Syrian government website. Adobe said in an advisory posted on its security website that the vulnerability could allow attackers to gain control of affected computer systems. It released updates to fix the bug for systems running on Microsoft Corp's Windows, Apple Inc's Mac and Linux operating systems. Moscow-based Kaspersky Lab said on its blog that it learned in mid-April that a Syrian Justice Ministry website, http://jpic.gov.sy, that serves as an online forum for citizen complaints had been compromised. Full Story | Top |
| Telekom Austria buys half of Slovenia's spectrum sale Monday, Apr 28, 2014 12:24 PM PDT  Telekom Austria bought almost half the spectrum on offer in a Slovenian auction for 64 million euros ($89 million), it said in a statement on Monday. The company said it bought two blocks of 800 megahertz spectrum, a frequency band it had previously lacked, and also increased its amount of 900 MHz and 1800 MHz spectrum, taking 48 percent of the frequencies on offer. Telekom Slovenia, the country's biggest operator, which Slovenia is trying to privatize, bought almost as much spectrum as Telekom Austria. Third-biggest carrier, privately owned Tusmobil, added some 800 MHz spectrum, Telekom Austria said. Full Story | Top |
| U.S., UK advise avoiding Internet Explorer until bug fixed Monday, Apr 28, 2014 11:45 AM PDT  By Jim Finkle BOSTON (Reuters) - The U.S. and UK governments on Monday advised computer users to consider using alternatives to Microsoft Corp's Internet Explorer browser until the company fixes a security flaw that hackers used to launch attacks. The Internet Explorer bug, disclosed over the weekend, is the first high-profile computer threat to emerge since Microsoft stopped providing security updates for Windows XP earlier this month. That means PCs running the 13-year-old operating system will remain unprotected, even after Microsoft releases updates to defend against it. The Department of Homeland Security's U.S. Computer Emergency Readiness Team said in an advisory released on Monday that the vulnerability in versions 6 to 11 of Internet Explorer could lead to "the complete compromise" of an affected system. Full Story | Top |
| Wall Street remains split on Twitter's prospects Monday, Apr 28, 2014 11:34 AM PDT  By Gerry Shih and Edwin Chan SAN FRANCISCO (Reuters) - There was a time when Twitter strove not to end up like Facebook. Now, the one-time Wall Street darling's inability to replicate its bigger cousin's success in mobile and online may be what holds it back. Wall Street remains divided over Twitter as the seven-year-old company prepares to unveil only its second set of quarterly numbers on Tuesday. Eleven of 31 investment analysts polled by Thomson Reuters rate it a "sell," outnumbering the seven who deem it a "buy." The rest have a hold rating or its equivalent. Full Story | Top |
| Comcast in deal with Charter as it seeks approval for TWC Monday, Apr 28, 2014 10:54 AM PDT  Comcast Corp on Monday agreed to a three-way deal with Charter Communications Inc as part of Comcast's efforts to win regulatory approvals for its proposed $45 billion purchase of Time Warner Cable Inc. The transaction would make Charter, which lost out to Comcast in a bid to acquire Time Warner Cable, the second-largest cable provider in the United States. The agreement would leave Comcast with less than 30 percent of the U.S. residential cable or satellite TV market, a factor seen as a key step to pleasing regulators. Charter would have about 6 percent of the pay-TV market, with an eventual shot to climb to 9 percent. Under the deal, Charter would pay Comcast $7.3 billion for 1.4 million subscribers. Full Story | Top |
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