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By Sophie Knight and Sinead Carew TOKYO/NEW YORK (Reuters) - Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp declined to make a new offer after SoftBank sweetened its own bid last week. SoftBank Chief Executive Masayoshi Son is now a step closer to sealing the largest overseas acquisition by a Japanese company in history, after winning support from a key shareholder by raising SoftBank's offer to $21.6 billion from $20.1 billion last week. ...
By Mari Saito TOKYO (Reuters) - Sony Corp's top investor Daniel Loeb will miss its shareholder meeting on Thursday and those attending will not be considering his proposal to partially spin off the lucrative entertainment business, sources familiar with the matter said. But his suggestion, which strikes at the heart of whether Sony remains both a consumer electronics maker and a provider of music, movies and TV programs, will be the elephant in the room at the annual gathering - and for months to come. ...
TAIPEI (Reuters) - Acer Inc, the world's No.4 PC vendor, said on Wednesday that it expects notebook and tablet PC shipment to be flat in the second quarter from the first quarter, versus an prediction of 0-5 percent growth made in April. Acer Chairman J.T. Wang made the comment to reporters at the firm's annual shareholder meeting. ...
At its annual Worldwide Developer's Conference, Apple announces new operating systems and faster computers.
By Leila Abboud PARIS (Reuters) - Telecom equipment maker Alcatel-Lucent plans to focus on networking products and high-speed broadband and will slim down with a billion euros in cost cuts by 2015 in a bid to reverse years of losses. The plan unveiled on Wednesday by Michel Combes, the company's new chief executive, will also include more than a billion euros of unspecified asset sales and 2 billion euros in debt re-financing by 2015, followed by a further 2 billion in debt reduction that could include issuing new shares. ...
By Paul Sandle LONDON (Reuters) - Imagination Technologies, the British chip designer whose graphics technology is in smartphones from Apple and Samsung, reported lower full-year profits as licensing slows. The British company, which licenses its designs to chipmakers and receives a royalty on every unit shipped, has lost business it had expected from customers such as Texas Instruments and ST Ericsson as the smartphone market consolidates around a few big players. ...
(Reuters) - Britain's Vodafone Group Plc has raised its preliminary offer to buy Germany's largest cable operator, Kabel Deutschland Holding AG, a day after U.S. media group Liberty Global Plc made a rival bid, Bloomberg reported on Tuesday, citing people familiar with the bid. Bloomberg reported that Vodafone told Kabel Deutschland this week that it would be willing to pay 85 euros a share compared with its initial offer of 80 euros to 82 euros for the German company. Vodafone is said to be studying Kabel Duetschland's books before making an official offer, Bloomberg said. ...
Today's apps worth downloading start with a couple that might help you save, or make, some money. First is an update to eBay, the online auction site whose app has gotten lots of new features and refinements for sellers to make their stuff available to buyers. Up next is The Car Connection, an app with tons of info for finding the right car for you. Finally, Rage of the Gladiator puts you in the shoes of a warrior fighting off monsters, magicians and more in a first-person action game.
As the iPhone 5S nears mass production ahead of its launch this coming fall, leaks will undoubtedly kick into high gear. We saw the first few images of the completed display assembly for Apple’s iPhone 5S leak earlier this week, and now the first set of high-quality photos of the new iPhone’s panel have been published by Fanatic Fone. The high-resolution photos show the iPhone 5S display assembly next to an iPhone 5 display, and they clearly highlight all of the design changes found on the new panel. As was confirmed in a recent exclusive report from BGR, Apple’s upcoming iPhone 5S will feature a fairly significant internal redesign as Apple seeks to improve on the iPhone 5 and possibly make
As the iPhone 5S nears mass production ahead of its launch this coming fall, leaks will undoubtedly kick into high gear. We saw the first few images of the completed display assembly for Apple’s iPhone 5S leak earlier this week, and now the first set of high-quality photos of the new iPhone’s panel have been published by Fanatic Fone. The high-resolution photos show the iPhone 5S display assembly next to an iPhone 5 display, and they clearly highlight all of the design changes found on the new panel. As was confirmed in a recent exclusive report from BGR, Apple’s upcoming iPhone 5S will feature a fairly significant internal redesign as Apple seeks to improve on the iPhone 5 and possibly make
ROME (Reuters) - Telecom Italia aims to reach a deal with Italy's telecommunications regulator AGCOM on the spin off of its domestic fixed line network by early next year, the company's chairman said on Wednesday. The board of Italy's biggest phone company approved on May 30 a plan to hive off fixed-line network assets into a new company, a move that could help it raise cash and that could trigger a regulatory overhaul. ...
Huawei, which recently became the No.3 smartphone brand in the world, may be considering a Nokia acquisition. Wall Street reacted violently, prompting an 8% spike in Nokia’s share price. This speculation is part of an annual summertime ritual. In July, we’ll get the rumor about Lenovo buying Nokia and in August, some British brokerage will speculate about Cisco executives flying to Helsinki. However, there is a very specific problem with the idea of any of these companies buying Nokia right now. All of them might be interested in buying a smartphone vendor. But Nokia is not a smartphone company. It’s still a feature phone company. In the latest quarter, Nokia’s feature phone volume totaled 56 million units and smartphone shipments stood at 6 million units. On the revenue
Microsoft’s first Windows RT-powered Surface tablet wasn’t the rousing success the company had hoped for, but that won’t stop it from trying again with a second-generation model. Following reports that Microsoft slashed Surface pricing for schools in a likely effort to clear out inventory, Bloomberg has reported some details about an upcoming refreshed Surface RT tablet. The report claims Microsoft will go with Qualcomm’s Snapdragon 800 chipset to power the next Surface RT, though NVIDIA will supply chips ”for some versions” of the new Surface. It is unclear how many versions of the slate there will be, or what the differences between them might be. Microsoft’s Surface sequel is expected to launch later this year.
Efforts to acquire Sprint have been a long and arduous fiasco for SoftBank, but the Japan-based carrier moved one step closer to completing the deal on Tuesday evening. Following SoftBank’s revised offer for Sprint that would see its bid increased to $21.6 billion, Dish announced that it is abandoning the race and will not revise its current offer, which is not expected to be accepted. Dish had previously offered a total of $25.5 billion for Sprint, including $17.3 billion in cash and $8.2 billion in stock, but the SoftBank deal is seen as the more promising option. According to Reuters, Dish said it declined to revise its offer because it did not want to match the break-up fees offered in the SoftBank
TOKYO (AP) — Japan's nuclear watchdog formally approved a set of new safety requirements for atomic power plants Wednesday, paving the way for the reopening of facilities shut down since the Fukushima disaster in a move critics charge is too hasty.
TOKYO (AP) — On the Internet, no one can save you from yourself. That is a lesson many Japanese politicians have learned recently in painful, awkward and at times costly fashion.
An oversight panel six years in the making will hear testimony on Wednesday in another secret proceeding involving the National Security Agency, government surveillance and the secret court known as FISC.
LOS ANGELES (AP) — Michael Hastings, the war correspondent whose unflinching reporting from Afghanistan led to the resignation of a top U.S. army general, has died in a car accident in Los Angeles, according to his employer and family.
(Reuters) - Rhode Island remains on track to make a $2.5 million interest payment next year on bonds that were used to finance the facilities of 38 Studios, a now-bankrupt videogame company founded by former Boston Red Sox pitcher Curt Schilling. The state's House Finance Committee approved a budget late Tuesday night that included making an interest payment next May on $75 million of taxable bonds that the state sold in 2010 to make a loan to the company and lure it to Rhode Island. The company's loan payments were originally supposed to secure the bonds. ...
BOSTON (AP) — The Cape Wind offshore wind project has secured a $200 million investment from a Danish pension fund in what the wind farm's president said Tuesday is a milestone for the long-delayed project.
AT&T has come up with a very clever way to keep New Yorkers’ mobile devices powered up throughout the day. The New York Times reports that AT&T is building 25 solar-powered charging stations throughout New York City that will give wireless users the ability to recharge their phones in places where they can’t typically find electrical outlets. AT&T plans to deploy the stations in public outdoor spaces such as parks and beaches as part of a pilot project between the carrier and the city. Marissa Shorenstein, the president of AT&T’s New York division, tells the Times that her company views the initiative “as a commitment to being a part of the New York community as a corporate citizen but also as
HTC One users shouldn’t have to go without the latest version of Android for too much longer. Engadget reports that HTC is still planning to upgrade its flagship smartphone to Android 4.2.2 Jelly Bean at some point, although the site says that “users may need to wait a little longer before it becomes available” for download. The HTC One originally shipped with Android 4.1.2 when it launched this past spring, although HTC vowed that users would be able to upgrade to version 4.2.2 at an undetermined time. Given how quiet HTC has been about the upgrade lately, it’s good to hear that the company still plans on making it happen if we don’t have any idea of when it might
By Sruthi Ramakrishnan (Reuters) - Adobe Systems Inc, known for its Photoshop and Acrobat software, reported a higher-than-expected adjusted second-quarter profit and said demand rose for Creative Cloud, the subscription-based version of its flagship software package. The company said it expects the number of paid subscribers for Creative Cloud in the current quarter to top the 221,000 subscribers who signed up in the second quarter, increasing the total to 700,000. The company added 153,000 subscribers in the first quarter. ...
(Reuters) - Eastman Kodak Co on Tuesday said it will seek court approval for a $406 million rights offering that could give creditors a big equity stake in the company after it emerges from Chapter 11 bankruptcy protection. Kodak said creditors agreed to backstop an offering that would let the Rochester, New York-based company issue 34 million common shares at $11.94 each, equal to about 85 percent of the equity of a reorganized company. ...
It seems like we hear more reports about BlackBerry’s revival every week, although those of us who live in the United States may not see it much in our everyday lives. It turns out there’s a good reason for this: Sales of new BlackBerry 10 devices have reportedly been middling in the U.S. while having much stronger showings in other countries. Barron’s points us to a new research note from RBC Capital analyst Mark Sue, who says that BlackBerry 10 demand “appears to be mixed by region” with “Canada, the U.K. and the Middle East… seeing the strongest BB10 sell-through.” In the U.S., however, Sue says that “BlackBerry has a diminished consumer presence” and is “seeing slower sell-through.” Adoption of
By Noel Randewich SAN FRANCISCO (Reuters) - Nvidia Chief Executive Jen-Hsun Huang said he will license graphics technology to other companies, a new model for the chipmaker that could lead to new business with Apple, Samsung and other mobile device makers. Huang told the Reuters Global Technology Summit in San Francisco on Tuesday that licensing graphics cores and visual patents would help Nvidia take greater advantage of the booming market for smartphones and tablets and tap markets it could not reach through selling its own chips. ...
By Alina Selyukh WASHINGTON (Reuters) - Tom Wheeler, President Barack Obama's pick to lead the Federal Communications Commission, on Tuesday pledged to champion competition in the telecommunications industry and said an upcoming auction of airwaves is the biggest challenge facing the regulator. Acknowledging his past as a lobbyist, Wheeler told lawmakers at a Senate Commerce Committee hearing on his nomination that at the FCC, he would advocate for the consumers' interest first: "My client will be the American public. ...
NEW YORK (Reuters) - Dish Network Corp said it would not make a new offer to buy No. 3 U.S. wireless provider Sprint Nextel in time for a Tuesday deadline and will instead focus on its tender offer for Clearwire Corp. The decision may be good news for Japan's SoftBank Corp, which is also trying to buy Sprint. Satellite TV provider Dish said in a statement that it was not practical for it to submit a revised offer by the June 18 deadline imposed by Sprint even though it "continues to see strategic value in a merger with Sprint. ...
LOS ANGELES (AP) — DreamWorks Animation SKG Inc., the studio behind "Shrek" and "Kung Fu Panda," said Tuesday that a new deal to provide original TV shows to Netflix will help it double the revenue it gets from TV shows to $200 million by 2015.
NEW YORK (AP) — Activist investor Carl Icahn on Tuesday proposed a $16 billion share buyback in his latest effort to thwart Dell Inc. founder Michael Dell's effort to take the struggling computer maker private.
In what appears to be a desperate attempt to clear out inventory buildup, Microsoft will offer its Surface RT tablet to educational institutions at shockingly deep discounts. The tablet is available to schools and universities from now until August 31st starting at $199 for the 32GB model. The touch keyboard cover will add $50 to the price, while the type keyboard cover brings the total up to $289. The Surface RT comes bundled with Microsoft Office Home and Student 2013 RT, which includes Word, PowerPoint, Excel and OneNote, and the tablet runs the Windows RT operating system, of course. Critics have blamed the watered-down Windows RT operating system, the tablet’s limited storage and high price for the Surface’s lackluster sales performance,
By Greg Roumeliotis and Soyoung Kim NEW YORK (Reuters) - SunGard Data Systems Inc, the computer software maker that was taken private in 2005 for $11.4 billion, is exploring a sale of its data managing operations that could fetch up to $2 billion, several people familiar with the matter said on Tuesday. The business for sale, which offers data center space and technology infrastructure to clients looking to safeguard their data, has earnings before interest, tax, depreciation and amortization (EBITDA) of around $200 million, the people said. ...
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