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| Twitter reveals rip-roaring growth, big losses ahead of IPO Thursday, Oct 03, 2013 07:57 PM PDT  By Gerry Shih and Alexei Oreskovic SAN FRANCISCO (Reuters) - Twitter Inc, racing toward the largest Silicon Valley IPO since Facebook Inc's 2012 coming-out party, hopes to woo investors with rip-roaring revenue growth despite having posted big losses over the past three years. The eight-year-old online messaging service gave potential investors their first glance at its financials on Thursday when it publicly filed its IPO documents, setting the stage for one of the most-anticipated debuts in over a year. ... Full Story | Top |
| Samsung takes aim at second straight year of record profit as memory chips rebound Thursday, Oct 03, 2013 07:37 PM PDT  By Miyoung Kim SEOUL (Reuters) - Samsung Electronics Co Ltd is on track to post its second consecutive year of record earnings as a rebound in its semiconductor business shields the South Korean tech giant from a slower smartphone market. The world's biggest memory chipmaker is likely to see its semiconductor earnings charge to a three-year high - a much-needed shot in the arm - just as sales of its flagship Galaxy S4 smartphone begin to flag, analysts say. ... Full Story | Top |
| HTC posts first-ever quarterly losses as troubles multiply Thursday, Oct 03, 2013 06:49 PM PDT  By Michael Gold and Faith Hung TAIPEI (Reuters) - Taiwan's HTC Corp slid into the red for the first time in the third quarter, with sales hit hard by fierce competition in the smartphone market, supply chain constraints and internal turmoil. Underscoring a dramatic decline for a company which boasts award-winning smartphones but has failed to develop a durable brand of handsets, it posted an operating loss of T$3.5 billion as sales for the quarter tumbled by a third from the same period a year earlier. At a net level, it booked a loss of T$2. ... Full Story | Top |
| Adobe says source code, customer data stolen by hackers Thursday, Oct 03, 2013 05:41 PM PDT  By Joseph Menn BOSTON (Reuters) - Adobe Systems Inc said on Thursday that hackers had stolen source code to some of its most popular software and data about millions of its customers. Security experts worry about the theft of source code because close review of the programs can lead to the discovery of new flaws that can be used to launch hard-to-detect attacks against all users of that software. ... Full Story | Top |
| Gates, Ballmer seek re-election to Microsoft board Thursday, Oct 03, 2013 04:37 PM PDT  SEATTLE (Reuters) - Chairman Bill Gates and retiring Chief Executive Steve Ballmer are standing for re-election to Microsoft Corp's board of directors, despite recent moves by some investors to reduce their influence, according to the software company's annual proxy filing made public on Thursday. Ballmer and Gates, both 57, have been the target of activist investors who believe Microsoft needs new leadership to transform itself and compete with mobile-savvy rivals such as Apple Inc and Google Inc. ... Full Story | Top |
| Factbox: Who's who in the flock - 7 people who keep Twitter humming Thursday, Oct 03, 2013 04:22 PM PDT By Gerry Shih SAN FRANCISCO (Reuters) - Twitter laid bare its financial numbers for the first time on Thursday ahead of its initial public offering, one of the year's most highly anticipated events on Wall Street. The company, which spun out of a nearly failed San Francisco startup in 2006, went through early years of management turmoil and unprofitability. But since 2010, Chief Executive Dick Costolo has firmed up the executive ranks and gradually dialed up Twitter's revenue engine. Here are some key people from the boardroom, the sales force and the engineering corps who keep Twitter ... Full Story | Top |
| Insight: Little-known Hollywood investor poised to score with Twitter IPO Thursday, Oct 03, 2013 03:56 PM PDT  By Ronald Grover and Gerry Shih LOS ANGELES/ SAN FRANCISCO (Reuters) - When Twitter goes public in coming weeks, one of the biggest winners will be a 47-year-old financier who guards his secrecy so zealously that he employs a person to take down his Wikipedia entry and scrub his picture from the Internet. ... Full Story | Top |
| Timeline: Twitter: from side project to sociocultural sensation Thursday, Oct 03, 2013 03:55 PM PDT By Alexei Oreskovic SAN FRANCISCO (Reuters) - Twitter, the 140-character messaging service favored by everyone from the Pope to U.S. President Barack Obama, began as a side-project but rapidly morphed into one of the most powerful social and cultural media forces of our time. After eight years of explosive user growth marred by persistent technical challenges and management shake-ups, Twitter is now preparing to go public in Silicon Valley's largest initial public offering since Facebook Inc's last year. March 21, 2006: Co-founder Jack Dorsey sends the first tweet: "just setting up my twttr. ... Full Story | Top |
| Factbox: Who will get rich from Twitter's IPO? Thursday, Oct 03, 2013 03:11 PM PDT By Sarah McBride (Reuters) - Just about everyone in Silicon Valley has dreamed of striking it rich with a well-timed investment. Analysts estimate that when Twitter debuts on public markets, its valuation will hit around $10 billion. Here is a list of the number of shares owned by some of the people and investment firms that will benefit the most from Twitter's initial public offering: Executive officers and directors: Evan Williams 56,909,847 shares, or 12 percent. Williams was Twitter's CEO until 2010, when current CEO Dick Costolo took the helm. ... Full Story | Top |
| Ellison gives up $500 million potential payout to settle Pillar suit Thursday, Oct 03, 2013 03:07 PM PDT  By Noel Randewich SAN FRANCISCO (Reuters) - Oracle Corp Chief Executive Larry Ellison has agreed to give up a potential payout of around $500 million to settle accusations of a conflict of interest in the 2011 acquisition by Oracle of a company he controlled, according to court documents. The settlement relates to Oracle's purchase of Pillar Data Systems Inc, a data storage company that was majority owned by Ellison. Oracle, the world's No. ... Full Story | Top |
| Exclusive: Security firm says iPhone bug can thwart device wiper Thursday, Oct 03, 2013 02:40 PM PDT  By Jim Finkle BOSTON (Reuters) - A German security company has uncovered a bug in the new iPhone's software that it said enables hackers to overcome a safeguard allowing users to remotely wipe stolen or lost phones. Berlin's Security Research Labs, known as SRL, said on Thursday that the vulnerability could potentially give criminals time to break into the Apple Inc phones, gain complete control of data, access email accounts and then potentially take over the user's bank accounts. ... Full Story | Top |
| Adobe says customer data, source code accessed in cyber attack Thursday, Oct 03, 2013 02:37 PM PDT BOSTON (Reuters) - Adobe Systems Inc said on Thursday it was the victim of sophisticated cyber attacks on its networks by hackers who accessed data belonging to millions of customers along with the source code to some of its popular software titles. Chief Security Officer Brad Arkin said in a statement that the company believes the attackers accessed Adobe customer IDs and encrypted passwords and removed data relating to 2.9 million Adobe customers. That information includes customer names, encrypted payment card numbers, expiration dates and information relating to orders, he said. ... Full Story | Top |
| Instagram to start allowing ads in photo feeds Thursday, Oct 03, 2013 02:14 PM PDT  (Reuters) - The legions of people who use Instagram will start to see advertising in their photo sharing feed in the next couple of months. The popular photo-based social network, snapped up by Facebook Inc, will roll out advertising in the United States in a bid to become a "sustainable business," Instagram said in a blog post on Thursday. Instagram acknowledged the transition would be delicate since its 150 million users are not used to ads peppering photo streams of family and vacations, and might be alienated by the effort. ... Full Story | Top |
| U.S. indicts 13 suspected members of hacker group Anonymous Thursday, Oct 03, 2013 01:57 PM PDT By David Ingram WASHINGTON (Reuters) - The United States brought criminal charges against 13 suspected members of the hacking group Anonymous on Thursday for allegedly attacking government, credit card and lobbying websites in a campaign in support of internet file-sharing. A grand jury indictment of the 13 people was filed in U.S. District Court in Alexandria, Virginia, charging them with conspiracy to intentionally cause damage to protected computers as part of Anonymous' "Operation Payback." The loose-knit international group known as Anonymous has been in frequent battle with U.S. ... Full Story | Top |
| Telecom Italia picks Patuano as CEO after strategy clash Thursday, Oct 03, 2013 01:02 PM PDT By Danilo Masoni and Stefano Rebaudo MILAN (Reuters) - Telecom Italia said on Thursday it had picked insider Marco Patuano as chief executive after long-standing executive chairman Franco Bernabe resigned in a strategy clash with core shareholders, paving the way for possible asset sales. Patuano, who started his career in Telecom Italia after graduating at Milan's elite Bocconi university in 1990, is expected to draw up a new business plan that could include divestments at the debt-laden former monopoly phone company. ... Full Story | Top |
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