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| Marketplace of vice, 'Silk Road' meets its end Wednesday, Oct 02, 2013 04:08 PM PDT By Jim Finkle BOSTON (Reuters) - Before it was shut down by U.S. agents this week, people looking to buy street drugs, hire hackers or hitmen, and acquire stolen e-commerce accounts anonymously online could go to Silk Road, the Amazon.com of vice. For more than two years, according to U.S. authorities, the website allowed users to buy and sell illegal goods and services on the assumption that they were safe from the law. The buyers were cloaked by technology designed to keep identities secret and transactions were processed with bitcoin digital currency. ... Full Story | Top |
| Twitter avoids U.S. antitrust scrutiny over MoPub acquisition Wednesday, Oct 02, 2013 02:14 PM PDT  By Gerry Shih and Diane Bartz (Reuters) - Twitter's acquisition offer for MoPub, a mobile advertising exchange, will not be challenged by antitrust regulators ahead of the microblogging service's initial public offering, according to the Federal Trade Commission. Twitter announced on September 9 that it would buy MoPub in its largest acquisition to date. Twitter paid $350 million in stock, a value that triggered an automatic FTC review into whether the transaction would hurt competition. The deal was on a list of approved transactions that the FTC puts out several times a week. ... Full Story | Top |
| California outlaws 'revenge porn' in first-of-its-kind legislation Wednesday, Oct 02, 2013 02:12 PM PDT  By Steve Gorman LOS ANGELES (Reuters) - California Governor Jerry Brown signed a first-of-its-kind state law criminalizing what has become known as revenge porn, the distribution of private, explicit photos of other people on the Internet, usually by ex-lovers or spouses, to humiliate them. The measure, which passed both houses of the Democratic-led state legislature almost unanimously last month, makes it a misdemeanor for individuals to take and then circulate without consent such images online with the intent to harass or annoy. ... Full Story | Top |
| Bitcoin sinks in value after FBI busts Silk Road drug market Wednesday, Oct 02, 2013 02:06 PM PDT  By Noel Randewich SAN FRANCISCO (Reuters) - The price of the bitcoin digital currency dropped on Wednesday, after U.S. law enforcement authorities shut down Silk Road, an online marketplace used to buy and sell illegal drugs. The bitcoin, valued by many for its anonymity, fell to $129 from over $140 a day before, according to a website for trading bitcoins, Mt.Gox. Earlier, the currency traded as low as $110. ... Full Story | Top |
| Delayed take-off: China cautious on large aircraft program Wednesday, Oct 02, 2013 02:00 PM PDT  By Siva Govindasamy and Fang Yan SINGAPORE/BEIJING (Reuters) - China's largest domestically produced aircraft may not enter service until early next decade, a delay that gives dominant rivals Boeing Co and Airbus time to launch their upgraded single-aisle planes first. The Comac C919, which will compete with the Airbus A320 and Boeing 737 family of aircraft, was scheduled for its first flight next year, but that has now been delayed until 2015, which pushes the first delivery to around 2017 or 2018, local media have reported. ... Full Story | Top |
| Cisco, Facebook to work with businesses to expand free Wi-Fi use Wednesday, Oct 02, 2013 01:48 PM PDT  NEW YORK (Reuters) - Cisco Systems Inc and Facebook Inc said on Wednesday they will work with big businesses such as hotels and retailers to provide free wireless Internet access to consumers who sign in using a Facebook log-in. The companies have been testing the concept with smaller businesses for about a year but will work together to support bigger companies that want to improve customer loyalty or learn more about their customers through offering free Wi-Fi. ... Full Story | Top |
| BlackBerry shares rise on possible Cerberus bidding interest Wednesday, Oct 02, 2013 01:44 PM PDT  TORONTO/NEW YORK (Reuters) - The possibility of a second offer for BlackBerry Ltd reversed a slide in its stock price on Wednesday after the struggling smartphone maker said it expected to record $400 million in pre-tax charges related to cuts announced last month. A person familiar with the matter told Reuters that private equity group Cerberus Capital Management LP was considering an offer for BlackBerry, which put itself on the block in August after bleeding market share to other smartphone makers. ... Full Story | Top |
| U.S. funds already in position to score on Twitter, Alibaba IPOs Wednesday, Oct 02, 2013 01:36 PM PDT  By Tim McLaughlin BOSTON (Reuters) - Five mutual funds run by T. Rowe Price Group Inc own $220 million worth of Twitter Inc, opening up a big lead over rival U.S. funds to capitalize on the social networking site's expected public stock offering. T. Rowe's bet on Twitter underscores the strength of the current IPO market, which has fully recovered from the sour taste left by Facebook Inc's debut in May 2012. Not only is social media back in favor, but mutual funds have a full slate of IPOs to consider for their investors. ... Full Story | Top |
| Brazil's anti-spying Internet push could backfire, industry says Wednesday, Oct 02, 2013 11:55 AM PDT By Esteban Israel and Alonso Soto SAO PAULO/BRASILIA (Reuters) - For tech companies in Brazil, the government's decision to target their operations in response to U.S. spying is about as smart as sending an angry email in the heat of an argument. President Dilma Rousseff's plan to force Internet companies to store user data inside the country will not fix Brazil's security concerns and could instead send costs soaring and hurt future investments in a key emerging market for companies like Google, Facebook and Twitter, industry executives and analysts say. ... Full Story | Top |
| Cerberus interested in BlackBerry - Dow Jones Wednesday, Oct 02, 2013 11:53 AM PDT  TORONTO (Reuters) - BlackBerry Ltd has drawn interest from private equity group Cerberus and at least one other investor, CNBC said on Wednesday, quoting Dow Jones, which cited unnamed sources. Shares of BlackBerry jumped as the news hit, and were up 2.5 percent at $8.11 on Nasdaq. (Reporting by Alastair Sharp; Editing by Gerald E. McCormick) Full Story | Top |
| FBI shuts alleged online drug marketplace, Silk Road Wednesday, Oct 02, 2013 11:33 AM PDT  By Emily Flitter NEW YORK (Reuters) - U.S. law enforcement authorities have shut down "Silk Road," an anonymous Internet marketplace for illegal drugs like heroin and cocaine and criminal activities such as murder for hire, and arrested its alleged owner. The Federal Bureau of Investigation said Wednesday it arrested Silk Road owner, Ross William Ulbricht, 29, known online as "Dread Pirate Roberts," in San Francisco on Tuesday, according to court filings. Ulbricht, who holds an advanced degree in chemical engineering, appeared in federal court on Wednesday and a bail hearing was set for ... Full Story | Top |
| Analysis: 'Slow frequency' technology faces tough shift from FX to stock markets Wednesday, Oct 02, 2013 09:38 AM PDT  By Eric Onstad LONDON (Reuters) - Efforts to curb the advantage of high frequency traders - who use computers churning out numerous transactions at lightning speed - face resistance on stock markets, although technology is already starting to level the playing field in currency dealing. Critics of high frequency trading (HFT) say it distorts prices, causes "flash crashes" when markets dive in an instant, and fuels an expensive arms race to shave milliseconds off trading times. ... Full Story | Top |
| Apple iPad Mini with sharper display faces delay Wednesday, Oct 02, 2013 09:18 AM PDT  By Clare Jim and Reiji Murai TAIPEI/TOKYO (Reuters) - Apple Inc will be unable to widely roll out a new version of the iPad Mini with a high-resolution "retina" display this month, people who work in the company's supply chain said, leaving the gadget without the sharper screen found on rival tablets from Google Inc and Amazon.com Inc. ... Full Story | Top |
| U.S. opposes tech companies' request to reveal spying demands Wednesday, Oct 02, 2013 09:13 AM PDT By David Ingram WASHINGTON (Reuters) - The U.S. Justice Department has told a secret surveillance court that it opposes a request from technology companies to reveal more about the demands they receive for user information, according to court papers released on Wednesday. Negotiations between the federal government and companies such as Google Inc have gone on for months, and while U.S. spy agencies said they plan to be more transparent, they have opposed company requests to disclose more detailed data. The court papers were filed under seal on Monday in the U.S. ... Full Story | Top |
| Iran parliament endorses Rouhani's diplomatic gambit Wednesday, Oct 02, 2013 07:34 AM PDT  By Marcus George and Jon Hemming DUBAI (Reuters) - Iran's parliament strongly endorsed President Hassan Rouhani's diplomatic bid to dispel mistrust at the United Nations last week during a visit which ended with an historic phone call with President Barack Obama, Iranian media said. The backing from the assembly, controlled by political factions deeply loyal to Supreme Leader Ayatollah Ali Khamenei, is a further sign that Rouhani has the support of the Iranian establishment, though there are some rumblings from hardliners. ... Full Story | Top |
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