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| Twitter sorts out lock-up agreements ahead of releasing IPO plans Tuesday, Oct 01, 2013 07:10 PM PDT  By Gerry Shih and Alexei Oreskovic SAN FRANCISCO (Reuters) - Twitter Inc's bankers contacted early investors this week asking them to sign a 180-day lock-up agreement by Wednesday afternoon, showing the company is moving swiftly toward its initial public offering. The email from Goldman Sachs, the lead underwriter of Twitter's IPO, asked shareholders to sign and return a form by 5 pm Pacific time on Wednesday acknowledging that they would be prohibited from selling shares for 6 months after the firm lists, according to two shareholders who received the email. Twitter declined to comment. ... Full Story | Top |
| Redpoint Ventures hires former Twitter executive Sarver in investment hunt Tuesday, Oct 01, 2013 07:06 PM PDT SAN FRANCISCO (Reuters) - Venture capital firm Redpoint Ventures said it has hired former Twitter Inc executive Ryan Sarver to be a partner as it seeks investment opportunities in technology applications and platforms. Before leaving the social media network in June, Sarver was in charge of Twitter's platform, building relationships with other companies that use Twitter's data. He left his post before Twitter filed plans for an initial public offering that investors say is one of the most anticipated since Facebook Inc. ... Full Story | Top |
| Exclusive: Microsoft investors push for chairman Gates to step down Tuesday, Oct 01, 2013 06:11 PM PDT By Nadia Damouni and Bill Rigby NEW YORK/SEATTLE (Reuters) - Three of the top 20 investors in Microsoft Corp are lobbying the board to press for Bill Gates to step down as chairman of the software company he co-founded 38 years ago, according to people familiar with matter. While Microsoft Chief Executive Steve Ballmer has been under pressure for years to improve the company's performance and share price, this appears to be the first time that major shareholders are taking aim at Gates, who remains one of the most respected and influential figures in technology. ... Full Story | Top |
| Honduras awards America Movil, Millicom 4G licenses Tuesday, Oct 01, 2013 05:32 PM PDT  TEGUCIGALPA (Reuters) - Honduras has awarded Mexican telecoms giant America Movil and emerging markets telecoms group Millicom licenses to offer 4G high-speed mobile services, telecoms commission Conatel said on Tuesday. America Movil operates under the brand Claro in Honduras, while Millicom operates under the name Tigo. The licenses cost $12.05 million each. The companies must start operating 4G networks within 18 months, Conatel said. (Reporting by Gustavo Palencia; Editing by Edwina Gibbs) Full Story | Top |
| Analysis: We're ready for takeoff. Sit back and enjoy your iGizmo Tuesday, Oct 01, 2013 05:03 PM PDT  By Alwyn Scott NEW YORK (Reuters) - In as little as a few months, airline passengers could play video games, read e-books, watch movies and listen to music while their flights take off or land, ending a long-standing ban on devices being used during those risky phases. But looser rules under consideration for portable electronic devices (PEDs) are likely to force airlines to make some major changes. Carriers, for starters, will need to determine if their planes are "PED resistant" and able to tolerate the proposed broader use of electronics. ... Full Story | Top |
| Website development platform Wix.com files for $100 million IPO Tuesday, Oct 01, 2013 04:50 PM PDT (Reuters) - Wix.com Ltd, which helps companies build and operate websites, filed with the U.S. regulators on Tuesday to raise up to $100 million in an initial public offering. Wix, which sells its cloud-based templates to design websites to small business owners, said revenue grew to $43.7 million in 2012 from $9.9 million 2009. Net losses widened 30 percent in the period. The Israel-based company, whose App Market allows companies to install more than 140 different apps on their websites, said 37 million businesses, organizations, professionals and individuals used its platform. ... Full Story | Top |
| Exclusive: Time for Gates to go, some top Microsoft investors tell board Tuesday, Oct 01, 2013 04:44 PM PDT  By Nadia Damouni and Bill Rigby NEW YORK/SEATTLE (Reuters) - Three of the top 20 investors in Microsoft Corp are lobbying the board to press for Bill Gates to step down as chairman of the software company he co-founded 38 years ago, according to people familiar with matter. While Microsoft Chief Executive Steve Ballmer has been under pressure for years to improve the company's performance and share price, this appears to be the first time that major shareholders are taking aim at Gates, who remains one of the most respected and influential figures in technology. ... Full Story | Top |
| 'The system is down': Obamacare glitches go public, reasons unclear Tuesday, Oct 01, 2013 04:43 PM PDT  By Sharon Begley and Caroline Humer NEW YORK (Reuters) - Blank boxes where security questions are supposed to appear. Pleas to "be patient." Error messages galore. Notices that "the system is busy right now." Web pages timing out before they load. Garbled lines of text riddled with stray question marks. Technology experts and government officials were stumped about the reasons for the computer glitches plaguing the Obama administration's launch of new health insurance exchanges. ... Full Story | Top |
| New app being tested to spot California whales so ships can avoid them Tuesday, Oct 01, 2013 01:15 PM PDT By Ronnie Cohen SAN FRANCISCO (Reuters) - Marine biologists have begun testing a smartphone application that would allow boaters and conservationists to identify whales outside San Francisco Bay so ships can avoid striking the endangered mammals. Whale Spotter, the app developed by Conserve.IO, will be used to map the feeding grounds of the enormous creatures, which large ships too frequently strike as they migrate along the California coast. ... Full Story | Top |
| Facebook expands ad service for app developers Tuesday, Oct 01, 2013 01:02 PM PDT  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Facebook Inc is expanding an advertising service aimed at developers of smartphone and tablet apps, the social network's latest move to bolster its fast-growing mobile business. Facebook's so-called mobile app ads - which allow companies to promote their mobile apps to Facebook's 1.15 billion users - will include new capabilities designed to boost the amount of time that consumers use the third-party apps, the company said on Tuesday. ... Full Story | Top |
| Billionaire Mark Cuban 'cheated' with insider trading: SEC lawyer Tuesday, Oct 01, 2013 12:01 PM PDT  By Jana J. Pruet DALLAS (Reuters) - Mark Cuban, the owner of the Dallas Mavericks basketball team, "cheated" by selling his stake in a small Internet search company upon learning that holding on might cost him money, a government lawyer told jurors at the start of the billionaire's insider trading trial. Cuban has maintained he did nothing wrong more than nine years ago when he sold his 6.3 percent stake in Mamma.com Inc. But a lawyer for the U.S. Securities and Exchange Commission said the 55-year-old knew what he was doing in unloading his stake, and avoiding a $750,000 loss. ... Full Story | Top |
| Icahn says firm has $2 billion invested in Apple shares - CNBC Tuesday, Oct 01, 2013 10:51 AM PDT NEW YORK (Reuters) - Activist billionaire investor Carl Icahn said Tuesday on CNBC that his firm has $2 billion invested in shares of technology giant Apple Inc.. Shares of Apple rose over 2 percent on Tuesday on news that Icahn had dinner with Apple chief executive Tim Cook on Monday and "pushed hard" for a buyback. "Had a cordial dinner with Tim last night. We pushed hard for a 150 billion buyback. We decided to continue dialogue in about three weeks," Icahn tweeted on Tuesday. ... Full Story | Top |
| Apple shares jump on Icahn dinner with CEO Cook Tuesday, Oct 01, 2013 10:09 AM PDT  NEW YORK (Reuters) - Shares of Apple Inc. rose about 2.5 percent on Tuesday on news that billionaire activist investor Carl Icahn had dinner with Apple chief executive Tim Cook on Monday and "pushed hard" for a share buyback. "Had a cordial dinner with Tim last night. We pushed hard for a 150 billion buyback. We decided to continue dialogue in about three weeks," Icahn tweeted on Tuesday. In August, Icahn told Reuters that "Apple has the ability to do a $150 billion buyback now by borrowing funds at 3 percent. ... Full Story | Top |
| Siemens CEO promises workers an end to restructuring Tuesday, Oct 01, 2013 10:03 AM PDT  MUNICH (Reuters) - Germany's Siemens has no plans for further restructuring measures after the engineering group's massive 6 billion euro ($8.1 billion) savings program ends next year, its new Chief Executive Joe Kaeser said. In a letter sent to Siemens employees on Tuesday, Kaeser sought to reassure workers following news that the savings program would cost 15,000 jobs. "All measures have been discussed with the affected units. Beyond that, there are no further plans or measures," Kaeser said in the letter, which was obtained by Reuters. ... Full Story | Top |
| Britain's Times to pull Blackberry app due to lack of interest Tuesday, Oct 01, 2013 09:51 AM PDT LONDON (Reuters) - Britain's The Times newspaper said on Tuesday it would no longer make its mobile app available on a Blackberry because few people used it, in another sign that rival smartphone makers are trumping its technology. Blackberry's steep revenue decline and mounting losses have forced the technology pioneer to accept a tentative $4.7 billion offer from its largest shareholder to take it private. ... Full Story | Top |
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