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| Dish chairman asserts U.S. advantage in Sprint bid Wednesday, May 01, 2013 08:11 PM PDT  NEW YORK (Reuters) - Dish Network Corp Chairman Charlie Ergen escalated the war of words with Japan's SoftBank Corp over the future of U.S. mobile company Sprint Nextel Corp, saying Sprint's network needed modernization best performed by English-speaking employees from a U.S. company. In an interview on Wednesday with USA Today, the country's third-largest newspaper, Ergen said Dish's American roots gave it an operational edge in the bidding war with SoftBank over Sprint. "We're offering a higher price, that's just math. ... Full Story | Top |
| Pentagon may soon clear use of Apple, Samsung, BlackBerry devices Wednesday, May 01, 2013 04:29 PM PDT  By David Alexander WASHINGTON (Reuters) - The Pentagon is expected to clear Apple, Samsung and BlackBerry mobile devices for use on Defense Department networks in the next few weeks, part of an effort to ensure the military has access to the latest communications technology, a spokesman said on Wednesday. The decision will set the stage for an intensified struggle for Pentagon customers among BlackBerry devices, Apple's iPhones or iPads and units using Google's Android platform such as Samsung Electronics' phones. ... Full Story | Top |
| Turkcell withdraws U.S. lawsuit against MTN Group Wednesday, May 01, 2013 03:24 PM PDT  WASHINGTON (Reuters) - Turkish telecom company Turkcell dropped its multibillion-dollar U.S. lawsuit against rival African mobile phone group MTN Group, citing a recent U.S. Supreme Court ruling that hurt its case. Turkey's largest cell phone operator filed a $4.2 billion lawsuit in Washington last year alleging the Johannesburg-based company used bribery to win a mobile license in Iran that was first awarded to Turkcell. But the court delayed the case in October pending a U.S. Supreme Court decision on the Alien Tort Statute, the U.S. human rights law on which Turkcell's suit is based. ... Full Story | Top |
| iPads and low-end rivals propel higher tablet shipments: report Wednesday, May 01, 2013 02:32 PM PDT  By Noel Randewich SAN FRANCISCO (Reuters) - Global tablet shipments more than doubled in the first quarter and while Apple remained the top seller, Asian manufacturers making low-end gadgets accounted for a major chunk of the growth, according to a report. Tablet shipments reached 49.2 million units in the January-to-March period, 142.4 percent more than in the same quarter in 2012, market research firm IDC said on Wednesday. Apple's iPads accounted for 19.5 million units, an increase of 65.3 percent. ... Full Story | Top |
| IBM, Lenovo call off server deal talks: report Wednesday, May 01, 2013 02:31 PM PDT  SAN FRANCISCO (Reuters) - IBM and Lenovo have called off negotiations over a multibillion-dollar deal in which the Chinese company would have bought Big Blue's low-end server business, Fortune magazine cited unidentified sources as saying on Wednesday. Talks between the two companies were halted after disagreement over the valuation of a business that sells servers used to power corporate datacenters, the business magazine cited a person familiar with the discussions as saying. It added that the negotiations could still resume. ... Full Story | Top |
| DreamWorks Animation to buy YouTube channel AwesomenessTV Wednesday, May 01, 2013 12:59 PM PDT By Lisa Richwine (Reuters) - DreamWorks Animation SKG Inc has agreed to buy teen- oriented YouTube network AwesomenessTV to secure an online platform to showcase family-focused movie franchises such as "Shrek" and "Kung Fu Panda." DreamWorks said on Wednesday it will pay about $33 million in cash to acquire AwesomenessTV, with additional payments of up to $117 million if earnings targets are met in 2014 and 2015. The transaction is expected to be completed this month, it said. ... Full Story | Top |
| T-Mobile shares rise in NYSE debut Wednesday, May 01, 2013 12:18 PM PDT  By Sinead Carew NEW YORK (Reuters) - T-Mobile US Inc shares rose 6 percent in their debut on the New York Stock Exchange on Wednesday, after the company was created by the merger of MetroPCS Communications and Deutsche Telekom AG's U.S. unit T-Mobile USA. Shares of what is now the fourth-largest U.S. wireless service provider were up 96 cents at $16.54 from an adjusted closing price of $15.58. MetroPCS and T-Mobile USA, which had combined 2012 revenue of $24.8 billion, merged to pool their spectrum resources to compete better with bigger and smaller rivals. ... Full Story | Top |
| Ofcom begins investigation into BT's superfast broadband Wednesday, May 01, 2013 11:44 AM PDT  (Reuters) - UK telecoms regulator Ofcom has launched a probe into whether BT Group is abusing its dominant position when pricing its superfast broadband, following a complaint by smaller rival TalkTalk Telecom Group. Ofcom said it was in the early stages of an investigation into BT. BT, the biggest fixed-line operator in the country, allows rival operators to take its superfast fiber product on a wholesale basis at the same fee at which it sells it to its own retail arm, BT Retail. ... Full Story | Top |
| Lenders eye $1 billion credit line for Sharp: Nikkei Wednesday, May 01, 2013 11:19 AM PDT  (Reuters) - Mizuho Corporate Bank and Bank of Tokyo-Mitsubishi UFJ are considering a roughly 100 billion yen ($1 billion) credit facility to help electronics manufacturer Sharp Corp meet an upcoming bond redemption, the Nikkei said. The banks are close to creating a credit line to ensure that Sharp can meet redemption requests for roughly 200 billion yen in convertible bonds maturing in September, the Japanese daily said. In addition, the lenders will give Sharp an extension on 360 billion yen in collateralized lending that matures in June. ... Full Story | Top |
| French minister says Yahoo wanted to "devour" website Wednesday, May 01, 2013 10:37 AM PDT  By John Irish and Leila Abboud PARIS (Reuters) - France's industry minister said he had blocked Yahoo Inc's plan to buy a majority stake in online video website Dailymotion because the U.S. group wanted to "devour" its smaller competitor. Yahoo, which declined to comment, had been in talks to acquire a 75 percent stake in Dailymotion, owned by France Telecom's Orange, a deal that would have valued Europe's largest video website at $300 million. ... Full Story | Top |
| Fidelity Contrafund's Danoff frets over Apple rivals Wednesday, May 01, 2013 08:49 AM PDT  By Tim McLaughlin BOSTON (Reuters) - Fidelity Contrafund manager Will Danoff, the biggest active shareholder in Apple Inc, cut his stake in the iPhone maker 12 percent in the first quarter and cited "heightened concern" about increasing competition. Danoff, whose $92 billion Contrafund has beaten 94 percent of peers over the past 15 years, is considered one of the most savvy stock pickers among mutual fund managers. ... Full Story | Top |
| Exclusive: Britain to quiz Google and auditor again on tax Wednesday, May 01, 2013 08:44 AM PDT  By Tom Bergin LONDON (Reuters) - Executives from Google Inc. and its auditor Ernst & Young will be called again to a British parliament committee to testify on tax, after a Reuters investigation highlighted inconsistencies in the way Google portrays its activities in Britain, the committee's chairwoman told Reuters. Margaret Hodge, head of the Public Accounts Committee (PAC), which is tasked with ensuring value in government financial affairs, said she would summon the companies' representatives to explain previous comments to the committee in light of the report. ... Full Story | Top |
| Facebook and banks ask U.S. judge to throw out IPO lawsuit Wednesday, May 01, 2013 08:35 AM PDT  (Reuters) - Facebook Inc, its Chief Executive Mark Zuckerberg and dozens of banks asked a federal judge to throw out a lawsuit accusing the social media company of misleading investors about its financial condition before its $16 billion initial public offering a year ago. The defendants said in court papers on Wednesday that before the IPO last May 18, Facebook had no obligation to publicly disclose internal projections on how increased mobile usage and product decisions might affect future revenue, even if it had provided the projections to its underwriters' analysts. They said the U.S. ... Full Story | Top |
| Lasers, microwave deployed in high-speed trading arms race Wednesday, May 01, 2013 07:55 AM PDT  By Eric Onstad LONDON (Reuters) - Laser beams and microwave dishes are the latest weapons in an arms race to shave milliseconds off dealing times in the shadowy world of high-speed, computerized financial trading. Traders, who make money by exploiting tiny, lightning-fast price changes on exchanges, are now targeting Europe and Asia after skirmishing in the United States. The first microwave connections between London and Frankfurt have been launched, cutting the time to send a trade by about 40 percent compared with optic fiber cables. ... Full Story | Top |
| Comcast reports higher profit, revenue in first quarter Wednesday, May 01, 2013 07:43 AM PDT  (Reuters) - Comcast Corp posted higher quarterly profit on Wednesday, driven by strength on the cable side of the business. The leading U.S. cable television provider, which also owns broadcaster NBC Universal, posted first-quarter profit of $1.4 billion, or 54 cents a share, up from $1.22 billion, or 45 cents a year ago. Excluding revenue from Comcast's sale of spectrum, the company posted earnings of 51 per share and beat analyst estimates by a penny. ... Full Story | Top |
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