Today's Reuters Technology News Headlines - Yahoo! News:
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Facebook co-founder Saverin renounces citizenship
Fri,11 May 2012 04:08 PM PDT
Reuters -  SAN FRANCISCO (Reuters) - Facebook Inc co-founder Eduardo Saverin has renounced his U.S. citizenship, according to an Internal Revenue Service report, days before the company's initial public offering. The news, first published by Bloomberg on Friday, was based on an IRS notice late in April that named people "who have chosen to expatriate." Facebook plans to raise as much as $10.6 billion in an IPO that is expected to value the company at as much as $96 billion. The offering could leave Saverin, who once owned 5 percent of the company, with a hefty capital-gains tax bill. ...
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Huawei gearing up to take on Cisco on its home turf
Fri,11 May 2012 03:47 PM PDT
Reuters -  (Reuters) - Huawei's head of North America, John Roese, said his company is more than ready to take on larger rival Cisco Systems but noted it will take some patience -- and time. "The U.S. is by far our most complex market ... for us our entrance into the U.S. is similar to a western company entering China," Roese said in an interview with Reuters on the sidelines of IT infrastructure conference Interop in Las Vegas. For a decade, China-based Huawei with U.S. headquarters in Santa Clara, Calif. has been selling infrastructure to U.S. telecom operators. ...
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Facebook's Zuckerberg says mobile first priority
Fri,11 May 2012 03:41 PM PDT
Reuters -  PALO ALTO, California (Reuters) - Facebook Inc CEO Mark Zuckerberg on Friday laid out his 2012 goals to investors on the Silicon Valley leg of his IPO roadshow, saying his first priority was improving the social network's mobile application. About 200 investors showed up at an IPO presentation in Palo Alto, California, where they were given the opportunity to quiz Zuckerberg and his lieutenants. Wall Street had been concerned about the company's ability to wring revenue from mobile users, considered crucial for long-term growth. ...
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Facebook privacy changes hint at ad ambitions
Fri,11 May 2012 03:04 PM PDT
Reuters - SAN FRANCISCO (Reuters) - Facebook Inc, just days before it goes public, said it has revamped its privacy policy in a way that could broaden the reach of its advertising business through other websites. The operator of the world's biggest online social network has at no point said it planned to sell advertising on other Internet sites, but the policy changes would further expand its ability to do so. Facebook's money-making potential has been spotlighted as the company prepares to raise up to $12 billion in its initial public offering. ... Full Story | Top |
Wireless carriers eye solutions to spectrum crunch
Fri,11 May 2012 11:51 AM PDT
Reuters - NEW ORLEANS (Reuters) - Top U.S. mobile operators are turning to a new type of equipment known as small cells to boost network capacity in the face of a shortage of wireless spectrum. With consumer demand for wireless data services like mobile video streaming growing sharply, network operators say they need access to more wireless airwaves soon or they will risk running out of capacity to support their customers. ... Full Story | Top |
Nvidia revenue, outlook beat Street; shares jump
Fri,11 May 2012 07:26 AM PDT
Reuters - (Reuters) - Nvidia Corp's quarterly revenue and outlook were ahead of low Wall Street estimates on better-than-expected sales of its latest graphics chips, sending its shares up 9 percent. The chipmaker reported strong demand for its newly launched chips for desktop computers and contract wins for its Tegra smartphone chips but said revenue and profit is still being limited by supply constraints and macro economic issues. ... Full Story | Top |
Viddy gets $30 million funding, aims to stand out from competition
Fri,11 May 2012 06:13 AM PDT
Reuters - SAN FRANCISCO (Reuters) - Viddy, the popular mobile video start-up, announced on Friday it has raised a hefty $30 million from institutional investors to bolster its expansion efforts in the face of stiff competition from Socialcam, a similar video-sharing service. Viddy's announcement comes at a time the two companies are locked in a race to generate users and publicity, and a struggle to differentiate themselves. ... Full Story | Top |
Analysis: Facebook friends Itaú BBA in nod to Brazil growth
Fri,11 May 2012 04:01 AM PDT
Reuters -  SAO PAULO/NEW YORK (Reuters) - For most people, Facebook is a way to connect with friends and family all over the globe. For Brazilian investment bank Itaú BBA, Facebook could help it forge connections with the elite banks that handle the world's biggest financial deals. Itaú BBA last week won a coveted role on Facebook Inc's IPO advisory team, becoming one of 33 banks that will underwrite one of the most eagerly awaited stock market debuts ever. ...
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Sony slides to three-decade low on strategy doubts
Fri,11 May 2012 02:18 AM PDT
Reuters -  TOKYO (Reuters) - Shares in Sony Corp slumped more than 7 percent to near 32-year lows, as investors doubted the Japanese consumer electronics giant has a strategy to fix its loss-making TV business and compete in the smartphone market against Apple Inc and Samsung Electronics. The last time Sony shares were this low, in the summer of 1980, its first Walkman portable cassette player had just gone on sale in the United States. So far this year, Sony has seen more than $3 billion wiped off its market value. ...
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Insight: Salesforce's plan for opulent campus a costly debacle
Fri,11 May 2012 01:16 AM PDT
Reuters -  SAN FRANCISCO (Reuters) - In early 2010, Marc Benioff, founder and chief executive of Salesforce.com, summoned several of his top real estate and finance executives to his San Francisco home to float a bold idea. He envisioned a world-class corporate campus to house the high-flying provider of online sales management tools, which employed more than 2,500 people in the city. Soon after, Salesforce bought 14 acres of waterfront property for $278 million. ...
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Online music storage firm MP3tunes files for bankruptcy
Thu,10 May 2012 09:47 PM PDT
Reuters - (Reuters) - Online music storage firm MP3tunes Inc filed for bankruptcy in a U.S. court, following its prolonged run-in with music publishing giant EMI Group over copyright issues, court filings showed. MP3tunes is a so-called cloud music service that lets users store music in online "lockers." Amazon.com Inc, Apple Inc and Google Inc have similar cloud services. EMI's lawsuit against MP3tunes and its chief executive, Michael Robertson, is part of the music industry's efforts to stop websites from letting people download and share music online without paying for it. ... Full Story | Top |
Google, Twitter quizzed on Facebook-Instagram: source
Thu,10 May 2012 05:55 PM PDT
Reuters -  (Reuters) - The U.S. Federal Trade Commission has reached out to Google Inc and Twitter in an investigation into Facebook Inc's $1 billion acquisition of photo-sharing service Instagram, a source familiar with the probe told Reuters. It was not immediately clear what specific information the FTC was looking for, the source said. The Commission automatically initiates a review of any acquisition of significant size. ...
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Analysis: Cisco spooks, but IT spending seen on the mend
Thu,10 May 2012 05:04 PM PDT
Reuters -  (Reuters) - As a cautious outlook from Cisco Systems Inc pummels shares of the network equipment maker and its peers, it might be time to go bargain hunting. Even as Cisco warned that technology spending by companies could be hurt by concerns about Europe, analysts say there is room for optimism. Pointing to last year's experience, some say tech spending may rebound in the second half, potentially boosting equipment makers shares again. Morgan Stanley is advising its clients to start making bets in anticipation of a pickup in tech spending. ...
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Facebook listing could trigger IPO surge: Nasdaq
Thu,10 May 2012 05:02 PM PDT
Reuters -  NEW YORK (Reuters) - Nasdaq OMX Group Inc is looking forward to a spike in the number of companies going public in the near term as they look to take advantage of the market buzz created by Facebook's listing next week, an executive at Nasdaq said on Thursday. Facebook aims to raise about $10.6 billion, dwarfing the coming-out parties of tech companies like Google Inc and granting it a market value of up to $96 billion - rivaling Amazon.com Inc's. ...
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Intel CEO plays down concerns about tech spending
Thu,10 May 2012 04:42 PM PDT
Reuters -  SANTA CLARA, California (Reuters) - Intel Corp Chief Executive Paul Otellini said that he was not seeing unexpected weakness in enterprise technology spending that Cisco Systems Inc CEO John Chambers cited when he forecast quarterly earnings below estimates. "This quarter is playing out as we thought. The enterprise is good, it's not fantastic, so we don't see a change in that," Otellini said in answer to a question at Intel's annual investor day on Thursday. ...
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