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| PayPal expands further into stores, but Wal-Mart holds out Monday, Apr 29, 2013 08:50 PM PDT  By Alistair Barr SAN FRANCISCO (Reuters) - PayPal is extending its reach to more physical stores, having signed up 50 merchant acquirers which help process payments but the eBay Inc unit has yet to persuade Wal-Mart Stores Inc, the world's largest retailer. PayPal's expansion into brick-and-mortar stores gives the company access to a market that is roughly ten times the size of the online payments sector where it got its start over a decade ago. ... Full Story | Top |
| Intel CEO backs SoftBank's bid for Sprint over Dish's offer Monday, Apr 29, 2013 07:43 PM PDT  (Reuters) - Intel Corp Chief Executive Paul Otellini said in a letter to the Federal Communications Commission that he supports SoftBank's bid for Sprint Nextel Corp, rather than Dish Network's counter offer. Sprint, the No. 3 U.S. wireless service provider, is considering a $25.5 billion bid from Dish but has also said it is on track to close its $20.1 billion pact with SoftBank by July 1. ... Full Story | Top |
| Fujitsu in talks to sell car chip business to Spansion: sources Monday, Apr 29, 2013 07:06 PM PDT  TOKYO (Reuters) - Japan's Fujitsu Ltd is in late-stage talks to sell its microcontroller chip business to Spansion Inc -- a deal that will broaden the U.S. semiconductor company product line-up so it can better cater to automotive clients, two sources familiar with the matter told Reuters on Tuesday. Terms of the deal, which will include Fujitsu's microcontroller design and development business as well as a Japanese plant, could not be obtained. ... Full Story | Top |
| Riverbed results miss estimates as customers cut spending Monday, Apr 29, 2013 03:32 PM PDT By Chandni Doulatramani (Reuters) - Riverbed Technology Inc reported quarterly results below analysts' estimates due to weak spending by businesses and the U.S. government, and it forecast a lackluster second quarter, sending its shares down 8 percent. Businesses have tightened purse strings amid political and economic uncertainty, while federal spending has slowed due to automatic cost cuts that came into effect in March after Congress failed to find an alternative plan to reduce a yawning budget deficit. Riverbed gets a little more than 10 percent of its revenue from the government. ... Full Story | Top |
| Brazil telecoms hang on to profits as sales stagnate Monday, Apr 29, 2013 03:01 PM PDT  By Brad Haynes and Sérgio Spagnuolo SAO PAULO (Reuters) - Brazilian phone companies relied on cost cutting and data-hungry cellphone plans to maintain profitability in the first quarter as quickening inflation and a saturated mobile market slowed sales growth to a trickle, according to a Reuters poll of analysts. Revenue at Brazil's biggest telecom companies rose from a year earlier at a lower rate than the country's benchmark measure of consumer prices, underscoring the challenge of maintaining profitability after a bonanza of new cellphone subscribers have come and gone. ... Full Story | Top |
| CBC's English-language chief leaving for Twitter job Monday, Apr 29, 2013 12:33 PM PDT  TORONTO (Reuters) - The head of the Canadian Broadcasting Corp's English-language service is leaving the public broadcaster to join micro-blogging company Twitter, the CBC said on Monday. Kirstine Stewart, the CBC's executive vice-president of English services, will leave immediately and a recruitment process for her replacement has been launched. Stewart, an avid Twitter user herself, said she was named managing director of Twitter Canada and will remain in Toronto to open Twitter's first offices in the country. ... Full Story | Top |
| Sprint seeks details from Dish on takeover proposal Monday, Apr 29, 2013 12:23 PM PDT  By Liana B. Baker and Ben Berkowitz (Reuters) - Sprint Nextel Corp on Monday said its merger partner, SoftBank Corp, has waived some terms of their agreement so that Sprint can seek more information from rival suitor Dish Network Corp. The exchange of information between Sprint and Dish indicates the companies are in conversations about the satellite broadcaster's $25.5 billion takeover bid, even if Sprint for now is standing by its $20.1 billion pact with SoftBank. ... Full Story | Top |
| Analysis: Tax strategy may be key to Verizon Wireless deal Monday, Apr 29, 2013 10:49 AM PDT  By Kevin Drawbaugh, Nanette Byrnes and Soyoung Kim (Reuters) - Verizon Communications Inc's chances of buying the 45 percent stake in Verizon Wireless owned by Britain's Vodafone Group Plc will hinge, at least in part, on the quality of tax advice it is getting. Verizon, the No. 2 U.S. telecommunications company, may have found a way to structure a purchase of the stake so that Vodafone can avoid a multibillion-dollar U.S. capital gains tax bill, sources familiar with Verizon's plans said. ... Full Story | Top |
| App helps wealthy travelers hitch rides on private jets Monday, Apr 29, 2013 10:22 AM PDT  By Natasha Baker TORONTO (Reuters) - Wealthy travelers wanting to fly in style can book empty seats on private planes with a new app for a jet-sharing service. Although there are dozens of apps for buying seats on commercial flights, BlackJet is a new iPhone app that connects travelers with private jets that have extra room on their planes. Flights are shared with from two to 14 other passengers, and the price is on par with a premium fare on a commercial airline, according to the San Francisco-based company. ... Full Story | Top |
| Apple lays groundwork for first debt sale ever Monday, Apr 29, 2013 09:42 AM PDT  By Josie Cox LONDON, April 29 - Apple took initial steps Monday for what would be its first debt sale ever, as the U.S. computer giant lays the groundwork for what would be one of the most anticipated bond sales of the year. The company was to begin investor calls today led by Deutsche Bank and Goldman Sachs, a source familiar with the situation told IFR, and filed SEC paperwork for a debt offering. ... Full Story | Top |
| Alibaba pushes into social networking with Weibo investment Monday, Apr 29, 2013 08:41 AM PDT  By Sayantani Ghosh and Sruthi Ramakrishnan (Reuters) - Chinese e-commerce firm Alibaba Group acquired an 18 percent stake in web portal Sina Corp's microblogging service Weibo in its first big move into selling advertising on China's highly competitive social networks. Sina's U.S.-listed shares surged 21 percent to $60.81 in early trading, before easing back to $56.90. ... Full Story | Top |
| Google Now comes to iPhone, challenging Apple's Siri Monday, Apr 29, 2013 07:39 AM PDT  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google Inc is bringing its Google Now technology to the iPhone, where it will compete head-on with Apple Inc's Siri to serve as the primary service that smartphone users rely on to get everything from weather updates to traffic forecasts. Google Now, which made its debut last year on mobile devices powered by Google's Android operating system, will be available as a feature in the new version of the Google Search app for iPhones and iPads starting on Monday. ... Full Story | Top |
| Supreme Court won't hear Charter Communications bankruptcy case Monday, Apr 29, 2013 07:37 AM PDT By Lawrence Hurley WASHINGTON (Reuters) - The Supreme Court declined on Monday to hear a challenge to the post-bankruptcy reorganization of Charter Communications Inc. Law Debenture Trust Co of New York (LDT) and R2 Investments objected when the No. 4 U.S. cable television operator went into Chapter 11 bankruptcy protection in March 2009, emerging in November of that year with its debts cut by $8 billion, or 40 percent. The bankruptcy was viewed as a major setback for Microsoft co-founder Paul Allen, a major investor. ... Full Story | Top |
| Amazon faces strike threat in Germany over pay, conditions Monday, Apr 29, 2013 07:10 AM PDT  By Victoria Bryan FRANKFURT (Reuters) - Global internet retailer Amazon.com could be facing its first strike in Germany by warehouse workers seeking better pay and benefits. Amazon employs around 9,000 people across Germany and has come under fire from trade union Verdi for refusing to implement a collective agreement on employment conditions, in keeping with the country's other mail order and retail firms. The union is also pressing for higher basic pay and bigger supplements for night shifts. ... Full Story | Top |
| Huawei's CEO says successor won't be from family, no listing plans yet Monday, Apr 29, 2013 03:26 AM PDT  By Lee Chyen Yee HONG KONG (Reuters) - The next CEO of China's Huawei Technologies Co Ltd will not be a family member of the incumbent chief, Ren Zhengfei, an ex-military officer who founded the company 26 years ago and built an empire that now rivals big global names in telecom gear and handsets. Huawei, which ranks behind just Sweden's Ericsson in telecom equipment sales and is also the world's No.5 smartphone maker, has no plans to list in the next 5-10 years, Ren said an internal letter to employees dated Sunday and whose contents were confirmed by two sources within the company on Monday. ... Full Story | Top |
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