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| Huawei, ZTE win bulk of China Mobile's $3 billion 4G bonanza: sources Thursday, Aug 22, 2013 09:14 PM PDT  By Lee Chyen Yee SINGAPORE (Reuters) - China Mobile Ltd has awarded initial 4G contracts worth around 20 billion yuan ($3.2 billion), with Chinese firms securing more than half of the biggest prize in the global telecoms industry this year and foreign firms winning about a third, industry sources said. Telecoms equipment makers, such as global leader Ericsson and Huawei Technologies Co Ltd, have been waiting for China Mobile's 4G tender to lift the fortunes of an industry that has been hit by a lack of spending worldwide. ... Full Story | Top |
| Pandora: Sing a song of slumping shares Thursday, Aug 22, 2013 05:43 PM PDT By Gerry Shih SAN FRANCISCO (Reuters) - Internet radio service Pandora Media Inc said on Thursday that rising expenditures to acquire music and expand its sales force would push fiscal 2014 earnings below analyst expectations, and its shares slumped 5 percent. The company also backtracked on a 40-hour monthly limit on free music streaming that was announced just six months ago, a measure originally implemented to control rising costs. Pandora said it will lift the monthly cap September 1 after watching its margins improve. ... Full Story | Top |
| Cellphone users can halt automated calls, court rules in Dell loss Thursday, Aug 22, 2013 03:12 PM PDT  By Jonathan Stempel (Reuters) - Consumers have a right under a federal law to revoke their consent to being contacted on their cell phones by automated dialing systems, a U.S. appeals court decided on Thursday in a defeat for computer maker Dell Inc. Reversing a lower court ruling, the 3rd U.S. Circuit Court of Appeals in Philadelphia ruled in favor of a Pennsylvania woman, Ashley Gager, who complained that Dell hounded her with more than 40 calls in less than three weeks to collect a delinquent debt after she had sent a letter asking it to stop. ... Full Story | Top |
| In Indonesia, buzzers are not heard, but tweet for money Thursday, Aug 22, 2013 02:43 PM PDT  By Andjarsari Paramaditha JAKARTA (Reuters) - In Indonesia's capital Jakarta, a buzzer is not an alarm or a bell, but someone with a Twitter account and more than 2,000 followers who is paid to tweet. Jakarta is the world's tweet capital and advertisers eager to reach the under-30 crowd are paying popular Twitter users to spread their word through social media, starting at about $21 per tweet. While celebrity endorsements via Twitter are common worldwide, Indonesia is unusual because advertisers are paying the Average Joes too. ... Full Story | Top |
| Pandora earnings forecast disappoints, shares drop Thursday, Aug 22, 2013 02:30 PM PDT SAN FRANCISCO (Reuters) - Internet radio service Pandora Media Inc said on Thursday that rising expenditures to acquire music and compete with rivals would push fiscal 2014 earnings below analyst expectations, and its shares slumped 5 percent. Excluding certain items, Pandora said it expected to earn between 0 and 5 cents per share for the year. That was below the 5-cent profit expected by analysts polled by Thomson Reuters I/B/E/S. Its shares fell 5 percent to $20.50 in extended trade. ... Full Story | Top |
| Autodesk forecasts disappointing third-quarter, shares fall Thursday, Aug 22, 2013 02:19 PM PDT (Reuters) - Autodesk Inc forecast third-quarter results below analysts' estimates as it anticipates lower demand for its computer-aided design (CAD) software used in construction, manufacturing and engineering industries. The company's shares fell as much as 5.6 percent in extended trading. Autodesk forecast adjusted earnings of 36 cents to 40 cents per share for the third quarter on revenue of $540 million to $555 million. Analysts on average were expecting earnings of 50 cents per share on revenue of $580.9 million, according to Thomson Reuters I/B/E/S. ... Full Story | Top |
| GameStop boosts profit forecast on console outlook; stock jumps Thursday, Aug 22, 2013 02:15 PM PDT By Malathi Nayak and Chandni Doulatramani (Reuters) - GameStop Corp raised its 2013 earnings forecast on Thursday, counting on new consoles from Microsoft Corp and Sony Corp to boost holiday season spending on video games and reverse the sector's decline. Shares of GameStop, the world largest retailer of video games, closed up 9 percent after quarterly results exceeded Wall Street's expectations. The U.S. video game industry has shrunk for years as gamers have spent more time with free-to-play software on tablets and smartphones. ... Full Story | Top |
| Icahn plans dinner meeting with Apple's Cook on buyback size Thursday, Aug 22, 2013 01:31 PM PDT  By Edwin Chan SAN FRANCISCO (Reuters) - Carl Icahn has spoken again with Apple Inc's Tim Cook and plans a longer discussion with the chief executive over dinner next month about the size of the iPhone maker's buyback program, the activist investor tweeted on Thursday. The hedge fund billionaire, known for launching aggressive assaults on American boardrooms, caused a sensation last week when he revealed on Twitter he had taken a large position in Apple and was pushing for the company to expand its program of share buybacks -- already one of the market's largest. ... Full Story | Top |
| Aruba Networks posts higher quarterly revenue Thursday, Aug 22, 2013 01:13 PM PDT (Reuters) - Network-equipment maker Aruba Networks Inc reported a 10 percent rise in fourth-quarter revenue as demand for its products rose and it added new customers. Net loss widened to $16.3 million, or 14 cents per share, in the three months ended July from $3 million, or 3 cents per share, a year earlier. Revenue rose to $153.1 million from $139.2 million. Excluding items, the company earned 12 cents per share. Aruba's products provide secure network access across wireless and wired networks. (Reporting by Neha Alawadhi in Bangalore; Editing by Joyjeet Das) Full Story | Top |
| Tesla moves to trademark "Model E" name for future models Thursday, Aug 22, 2013 12:13 PM PDT  DETROIT (Reuters) - Tesla Motors Inc , the electric car maker led by billionaire Elon Musk, has filed an application to trademark the "Model E" name to potentially use on future automobiles, clothing and repair service. The name is in keeping with Tesla's style. The automaker now sells an electric sedan called the Model S and next year, it will launch the Model X crossover. Musk's branding strategy is a nod to the Model T, which became the first vehicle middle-class Americans could afford when Ford Motor Co introduced it in 1908. ... Full Story | Top |
| HP CEO on the prowl for acquisitions up to $1.5 billion Thursday, Aug 22, 2013 10:55 AM PDT  By Sinead Carew SAN FRANCISCO (Reuters) - Hewlett-Packard Co is back in the market for acquisitions of up to $1.5 billion, Chief Executive Meg Whitman said in a televised interview on Thursday, aiming for smaller deals after a flurry of outsized purchases in past years. Whitman, speaking a day after she switched out the chief of the company's Enterprise group and said HP's second-largest unit had fallen down on sales and product execution, told business channel CNBC the company could also do deals in the $100 million to $300 million range. ... Full Story | Top |
| Wynn Resorts applies for Internet gambling license in NJ Thursday, Aug 22, 2013 10:37 AM PDT (Reuters) - Wynn Resorts Ltd said on Thursday it filed an application with New Jersey gaming regulators for an Internet gambling license. Wynn's application follows dozens of companies that have submitted applications with the New Jersey Division of Gaming Enforcement for Internet gambling licenses ahead of a targeted launch date in late November. Wynn Resorts operates casinos in Las Vegas and China's Macau, but has no casino operations in Atlantic City. Licensing to offer Internet gaming will be limited to New Jersey's 12 land-based casinos, which are partnering with online gaming companies. ... Full Story | Top |
| German IT specialist sentenced to three years for Swiss data theft Thursday, Aug 22, 2013 10:13 AM PDT By Oliver Hirt BELLINZONA, Switzerland (Reuters) - A Swiss court on Thursday sentenced a 54-year-old computer specialist to three years in jail for selling client data from Swiss bank Julius Baer to the German tax authorities, after the man agreed a plea deal with prosecutors. Switzerland has come under growing international pressure to change its banking secrecy laws, which other governments say enables many of their wealthy citizens to avoid taxes. ... Full Story | Top |
| Ex-Microsoft exec Sinofsky joins Silicon Valley venture capital firm Thursday, Aug 22, 2013 10:11 AM PDT  SEATTLE (Reuters) - Steven Sinofsky, the hard-charging former Microsoft Corp executive, has joined the prominent Silicon Valley venture capital firm Andreessen Horowitz as a part-time "board partner," representing the firm on certain boards of companies it invests in. The move, announced on Sinofsky's personal blog on Thursday, is slightly surprising given Marc Andreessen, co-founder of the venture capital firm, has long been a critic of Microsoft, since Microsoft effectively crushed his Netscape Communications browser company in the 1990s. ... Full Story | Top |
| Ex-Soviet hackers play outsized role in cyber crime world Thursday, Aug 22, 2013 09:57 AM PDT  By Alissa de Carbonnel MOSCOW (Reuters) - If you want to hack a phone, order a cyber attack on a competitor's website or buy a Trojan program to steal banking information, look no further than the former Soviet Union. The breadth and sophistication of services sold on Russian-language websites such as Forum.zloy.bz or Forum.evil offer a small window onto a Russian criminal underground that is costing Western firms billions of dollars in credit card and online banking fraud as well as "phishing" attempts to lure people into downloading malware or disclosing passwords. ... Full Story | Top |
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