Today's Reuters Technology News Headlines - Yahoo! News:
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U.S. appeals court revives Oracle overtime lawsuit
Tue,13 Dec 2011 04:43 PM PST
Reuters - (Reuters) - A federal appeals court on Tuesday revived a class-action lawsuit against Oracle Corp, basing its ruling on a state court decision that employers in California must pay nonresident workers for overtime work performed in the state. The U.S. Court of Appeals for the 9th Circuit reversed a federal district court ruling in favor of Oracle. Under the California's wage and hour laws, the appellate court found, Oracle could be liable for unpaid wages if it did not compensate out-of-state computer trainers for overtime work performed in the state. ... Full Story | Top |
Olympus ex-auditor to give qualified approval to statement
Tue,13 Dec 2011 03:58 PM PST
Reuters - TOKYO (Reuters) - Olympus' former auditor KPMG AZSA LLC will give a qualified approval to three years of financial statements ending in March 2009, saying it could not completely confirm money flows, the Nikkei business daily reported on Wednesday. The Nikkei also said Ernst & Young ShinNihon LLC, which became the camera and endoscope maker's auditor after KPMG AZSA, will approve all statements made from the financial year ending in March 2010. Olympus must publish its second-quarter results by Wednesday in order to keep its stock market listing and avoid being cut off from capital markets. ... Full Story | Top |
Hitachi-LG venture executives face jail time
Tue,13 Dec 2011 03:53 PM PST
Reuters - WASHINGTON (Reuters) - Three executives in a joint venture of Hitachi Ltd and LG Electronics have agreed to plead guilty and serve several months in prison for conspiring to fix the prices of optical disk drives, the Justice Department said on Tuesday. The joint venture itself pleaded guilty in early November to 15 criminal counts in connection with a long running probe of price fixing in the sale of optical disk drives like CD-ROMs. Hitachi-LG Data Storage Inc is the first company charged by U.S. prosecutors in the investigation. ... Full Story | Top |
Jive Software shares surge in market debut
Tue,13 Dec 2011 03:01 PM PST
Reuters - (Reuters) - Jive Software Inc's shares soared in their market debut as investors look to cash in on the immense popularity of social media offerings on the backdrop of upcoming IPOs like those of Facebook and Zynga. Jive's shares closed at $15.05 on Nasdaq, a 25 percent gain on the $12 price set by the social networking software provider a day ago. The stock had touched a high of $16.50 earlier in the session. At Tuesday's close, the company has a market value of about $862 million. Nearly 15 million Jive shares changed hands in their first day of trade. ... Full Story | Top |
Nokia Siemens to ramp down Iran operations
Tue,13 Dec 2011 02:29 PM PST
Reuters -  HELSINKI (Reuters) - The world No. 2 mobile telecom equipment maker Nokia Siemens Networks will start to gradually ramp down its business in Iran, pressured by tightening international sanctions. Nokia Siemens -- one of the key suppliers to Iranian telecom operators along with Ericsson and Huawei -- has decided to refrain from seeking new business and gradually reduce its commitments in Iran, it said in a letter to its staff in the country. ...
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Deadline time as Japan's Olympus struggles to survive
Tue,13 Dec 2011 02:15 PM PST
Reuters -  TOKYO (Reuters) - Japan's scandal-ridden Olympus Corp faces one of its biggest challenges to survive as an independent company on Wednesday, when it must meet a deadline to file its second-quarter results or be delisted from the Tokyo stock exchange. The 92-year-old maker of cameras and medical equipment has been engulfed by a $1.7 billion accounting fraud, one of Japan's worst corporate scandals, and has vowed to iron out its accounts in the eagerly awaited filing due later in the day. ...
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Transportation board proposes sweeping ban on cell/auto use
Tue,13 Dec 2011 01:31 PM PST
Reuters -  (Reuters) - Safety investigators called on Tuesday for a nationwide ban on texting and cell phone use while driving, a prohibition that would include certain applications of hands-free technology becoming more common in new cars. The National Transportation Safety Board recommendation goes beyond measures proposed or imposed to date by regulators and states, most of which already ban texting while behind the wheel. ...
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Yahoo investor slams potential minority stake sale
Tue,13 Dec 2011 01:16 PM PST
Reuters - NEW YORK (Reuters) - Third Point LLC, an activist shareholder in Yahoo Inc, expressed fresh concern on Tuesday that the Internet company is looking at a "sweetheart" deal with private equity that could entrench founder Jerry Yang and the current board. Daniel Loeb, chief executive officer of hedge fund Third Point, said in a statement that Yahoo should consider selling the company as a whole, and its ongoing strategic review should not "rob" shareholders of any opportunity to obtain a control premium. ... Full Story | Top |
App helps unemployed with job search
Tue,13 Dec 2011 11:31 AM PST
Reuters -  NEW YORK (Reuters) - Facebook, the social networking site, is probably not the first place that comes to mind when contemplating new career opportunities. But Monster.com, the career search website, hopes to change that with BeKnown, a professional networking app that allows users to build their professional identities within Facebook. "People are spending so much of their time on Facebook and at the same time companies are trying to find creative and productive tools to connect with potential talent," said Tom Chevalier, global product manager for Monster Worldwide. ...
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EU telecom ministers aim to end bandwidth favoritism
Tue,13 Dec 2011 08:38 AM PST
Reuters - BRUSSELS (Reuters) - EU ministers urged the European Commission and regulators to check on telecom operators who prioritize bandwidth for certain services, giving leverage to complaints about mobile firms around the world blocking Web-call services such as Skype. Ministers urged the pan-European regulator and the European Commission to monitor mobile companies' traffic management to ensure that they do not hamper "net neutrality", meaning that all services are treated equally. ... Full Story | Top |
Amazon extends Christmas shipping deadline
Tue,13 Dec 2011 06:59 AM PST
Reuters -  (Reuters) - Amazon.com Inc said it has extended the order deadline on one of its Christmas shipping options as it seeks to stay competitive in a holiday season that has seen more retailers offer free shipping. Amazon will let customers place orders as late as December 19 with delivery by Christmas in its Free Super Saver Shipping program, which is available on orders of $25 and more. According to a survey by Big Research for the National Retail Federation, 87 percent of retailers have a standard shipping deadline of December 20 at the latest for delivery by December 25. ...
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Apple in talks to buy Anobit for $400-$500 million: report
Tue,13 Dec 2011 03:38 AM PST
Reuters - JERUSALEM (Reuters) - Apple Inc is in talks to buy Israel's Anobit, a maker of flash storage technology, for as much as $500 million, according to a report published on Tuesday. The Calcalist financial daily said Apple is in advanced negotiations to buy Anobit for $400 million to $500 million. Anobit has developed a chip that enhances flash drive performance through signal processing. The chip is already incorporated in Apple devices such as the iPhone, iPad and the MacBook Air. Anobit is also examining a large financing round with a leading Asian flash memory manufacturer, Calcalist said. ... Full Story | Top |
Price fixing or good manners? Jury might decide
Tue,13 Dec 2011 12:10 AM PST
Reuters - SAN FRANCISCO (Reuters) - As the Department of Justice gears up for a rare criminal trial against a publicly traded company, the Taiwanese defendant wants to argue that prosecutors just don't get Asian business culture. AU Optronics, one of Taiwan's largest firms, was indicted last year in Northern California for fixing prices of liquid crystal display panels. Several other companies, including LG Electronics, have already pleaded guilty in the LCD probe, while Samsung Electronics cut an early deal to avoid prosecution. ... Full Story | Top |
HTC sues Citi in Taiwan after share price fall
Mon,12 Dec 2011 07:27 PM PST
Reuters -  TAIPEI (Reuters) - HTC Corp, the world's No.4 smartphone maker, has filed a criminal complaint against Citigroup Inc's Taiwan unit, alleging the bank published false information that led to a fall in HTC's share price, a Taiwan prosecutor said on Tuesday. HTC, whose rapid rise in the cut-throat handset industry had made it an investor darling until early this year, has lost much of its luster in recent weeks as its models struggle to compete with Apple Inc's iPhone and Samsung Electronics Co Ltd's Galaxy range. Its shares have tumbled from a high of more than T$1,200 ($39. ...
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Jive Software prices IPO above range: underwriter
Mon,12 Dec 2011 05:06 PM PST
Reuters - (Reuters) - Jive Software Inc priced its initial public offering at $12 per share, above its expected price range of between $8 and $10 per share, according to an underwriter. Jive, which makes software that integrates online communities, microblogging, social networking, discussion forums, blogs, wikis, and instant messaging under one interface, had filed in August, to raise up to $100 million in its IPO. Jive's pricing kicks of what is expected to be the busiest week in the U.S. ... Full Story | Top |
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