Today's Reuters Technology News Headlines - Yahoo! News:
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RIM hires bankers for strategic review, forecasts first quarter loss
Tue,29 May 2012 07:10 PM PDT
Reuters -  TORONTO (Reuters) - Research In Motion Ltd has hired bankers for a far-reaching strategic review and to look for partnerships as the BlackBerry-maker warned it would likely report a shock fiscal first-quarter operating loss. RIM virtually invented the concept of on-your-hip email with its first BlackBerry devices, but now finds itself struggling badly in the smartphone market as it trails far behind Apple Inc and other rivals such as Samsung Electronics that use Google Inc's Android software. RIM said it would also cut a "significant" number of jobs, although it did not say how many. ...
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HTC says phones pass U.S. customs review
Tue,29 May 2012 05:55 PM PDT
Reuters - TAIPEI (Reuters) - Smartphone maker HTC said on Wednesday its latest smartphones have passed a U.S. customs review, clearing the way for it to ramp up sales in the United States as it looks to turn around a decline in what was once its largest market. Earlier in May HTC had said that U.S. sales of two new smartphones, the HTC One X and HTC EVO 4G LTE, would be delayed due to a requirement for customs inspections after the Taiwanese company lost a patent dispute with Apple Inc . That news sent its shares tumbling on concerns over its ability to win back share in the U.S. market. ... Full Story | Top |
BlackBerry maker RIM sees operating loss, shares slump
Tue,29 May 2012 04:48 PM PDT
Reuters - TORONTO (Reuters) - Research In Motion Ltd on Tuesday warned it could report an operating loss and said it had engaged bankers to help it review its business, the latest in a string of dismal messages from the once-dominant BlackBerry maker. The struggling company, which virtually invented the concept of on-your-hip email with its first BlackBerry devices, also said it would cut a "significant" number of jobs, adding to a string of senior executives who resigned in recent weeks. ...
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Instant View: RIM enlists JPMorgan, RBC in review, warns of loss
Tue,29 May 2012 03:48 PM PDT
Reuters - (Reuters) - Blackberry maker Research in Motion, which has steadily ceded market share to Apple Inc and Google Inc in the hotly contested smartphone arena, has hired JP Morgan and RBC Capital Markets to help review its struggling business. The company also said it expects to post an operating loss in the current quarter. Commentary: MARK MCKECHNIE, ANALYST, THINKEQUITY LLC "Clearly its a special situation stock. It's having trouble competing with Android and Apple for the No.3 place. "We're looking at this as a salvage, value type situation. ... Full Story | Top |
UN agency plans major warning on Flame virus risk
Tue,29 May 2012 02:21 PM PDT
Reuters -  BOSTON (Reuters) - A United Nations agency charged with helping member nations secure their national infrastructures plans to issue a sharp warning about the risk of the Flame computer virus that was recently discovered in Iran and other parts of the Middle East. "This is the most serious (cyber) warning we have ever put out," said Marco Obiso, cyber security coordinator for the U.N.'s Geneva-based International Telecommunications Union. ...
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Instant View: RIM enlists JPMorgan, RBC in review, warns of loss
Tue,29 May 2012 02:16 PM PDT
Reuters -  (Reuters) - Blackberry-maker Research in Motion, which has steadily ceded market share to Apple Inc and Google Inc in the hotly contested global smartphone arena, has hired JP Morgan and RBC Capital Markets to help review its struggling business. The company, which some analysts say may try to put itself up for sale, expects to post an operating loss in the current quarter. Commentary: ED SNYDER, ANALYST, CHARTER EQUITY RESEARCH "RIM is on the downward slope and its going to get steeper. ...
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Family feud may disrupt Samsung succession plans
Tue,29 May 2012 01:28 PM PDT
Reuters -  SEOUL (Reuters) - A family feud at Samsung Group, parent of the world's largest electronics company by revenue, could upset the smooth handover of control of a smartphones-to-ships conglomerate whose $234 billion annual sales are bigger than the economy of Singapore. Lee Kun-hee, South Korea's richest man and chairman of Samsung Electronics , on Wednesday defends three lawsuits from his elder brother, Lee Maeng-hee, a sister and another relative, who claim $1 billion of assets - mainly shares in Samsung Life , an insurance company at the heart of a web of Samsung Group cross-shareholdings. ...
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Samsung Galaxy S3 gets head start on rival iPhone
Tue,29 May 2012 12:12 PM PDT
Reuters -  SEOUL/LONDON (Reuters) - Samsung Electronics launched its top-of-the-range Galaxy S3 smartphone in Europe on Tuesday, aiming to outsell its previous model that helped the South Korean company topple Apple as the world's largest smartphone maker. The Galaxy S3, which tracks the user's eye movements to keep the screen from dimming or turning off while in use, hits stores in 28 European and Middle East countries, including Germany, as Samsung aims to increase its lead over Apple months ahead of its new iPhone, expected in the third quarter. ...
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Opera seen a Facebook fit but no "For Sale" sign
Tue,29 May 2012 11:01 AM PDT
Reuters -  OSLO (Reuters) - Facebook is under pressure to make money from the increasing number of users who access the social networking site from mobiles, making Norway's Opera a good fit for it, bankers familiar with the technology industry said. Shares in the mobile browser maker soared by as much as 26 percent on Tuesday. Tech blogs reported recently that it was in the sights of Facebook, which was criticized at the time of its $100 billion initial public offering for failing to have an effective mobile advertising strategy. ...
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Sprint gets $1 billion credit for Ericsson equipment
Tue,29 May 2012 10:31 AM PDT
Reuters -  NEW YORK (Reuters) - Sprint Nextel Corp has arranged a $1 billion credit facility to buy network equipment from Ericsson for a high-speed wireless project that will involve the shuttering of its Nextel network next year. Sprint, the No. 3 U.S. mobile provider that has been working to eliminate an estimated funding gap of $5 billion to $7 billion, said on Tuesday it entered the credit agreement, which expires in March 2017, with Deutsche Bank and other banks. With the vendor financing agreement, spokesman Scott Sloat said Sprint has "largely addressed" funding requirements it flagged last year. ...
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French court backs Google in TV piracy case
Tue,29 May 2012 09:59 AM PDT
Reuters -  PARIS (Reuters) - A French court ruled that Google is not responsible for filtering content on YouTube, dealing a blow to French broadcaster TF1 which sought damages for copyrighted sports and movies which ended up on the video-sharing website. TF1 claimed 141 million euros in damages but was ordered to pay 80,000 euros of Google's legal fees. The decision mirrors an earlier case in France in 2011 in which video-sharing website Dailymotion was classified as a 'platform' for content and not an 'editor' of content. ...
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Israel banks mull conversion of TowerJazz notes
Tue,29 May 2012 07:13 AM PDT
Reuters - JERUSALEM (Reuters) - Shares of specialty chipmaker TowerJazz slid on Tuesday after the company signaled that Israel's largest banks were considering the conversion of capital notes they hold into shares. TowerJazz's Nasdaq-listed shares were down 8.6 percent at 76 cents in early trade, while its Tel Aviv shares closed 9 percent lower. They started to fall after Israeli media reported that Leumi and Hapoalim , the country's two largest banks, were interested in converting the notes into shares so they could finally cash in on their debt. ... Full Story | Top |
Whistleblower Woodford wins Olympus settlement
Tue,29 May 2012 06:17 AM PDT
Reuters -  LONDON (Reuters) - Michael Woodford, ousted as head of Japanese camera-to-endoscope maker Olympus after blowing the whistle on one of Japan's biggest corporate frauds, on Tuesday won a likely multi-million dollar settlement of his claim for unfair dismissal. After a night of negotiations, Woodford's lawyer Tom Linden told a London employment tribunal judge that final agreement hinged on ratification by the Olympus board at a meeting on June 8. ...
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RIM to benefit from job cuts: Macquarie
Tue,29 May 2012 06:14 AM PDT
Reuters -  (Reuters) - Additional job cuts at Research In Motion Ltd would be prudent as the BlackBerry maker tries to improve its free cashflow ahead of the planned launch of its next-generation phones later this year, Macquarie Equities Research said. RIM, which employs about 16,500 people, plans to bring its workforce closer to 10,000 by early next year, two sources told Reuters. "We support further cost realignment in the face of falling revenue and margins," Macquarie analyst Kevin Smithen said in a note to clients. Macquarie cut its price target on RIM's U.S.-listed shares to $14.50 from $17.50. ...
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China's Huawei and ZTE deny getting illegal subsidy
Tue,29 May 2012 05:54 AM PDT
Reuters -  HONG KONG/STOCKHOLM (Reuters) - China's top telecoms gear makers Huawei and ZTE denied receiving illegal government subsidies that helped them undercut rivals in recent years, after media reported the European Union planned to take action over unfair trade practices. Action by the EU could spark a trade war, analysts warned. Cheap prices have allowed Huawei and ZTE Corp to grab a big share of the global network gear market in recent years, pushing firms such as Nokia Siemens Networks and Alcatel Lucent to the brink of extinction. ...
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