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| Apple wows market with record $17 billion bond deal Tuesday, Apr 30, 2013 12:19 PM PDT  By John Balassi and Josie Cox NEW YORK/LONDON, April 30 (IFR) - Apple Inc wowed the debt markets on Tuesday with the largest non-bank bond deal in history, offering a whopping $17 billion for sale as the U.S. computer giant switches strategy to placate restless shareholders. Just a week after announcing its first drop in quarterly earnings in a decade, Apple came to market with the massive deal to raise funds for an ambitious program that will return $100 billion in cash to holders of Apple shares. ... Full Story | Top |
| Exclusive: Ride service Uber raising cash at $1 billion valuation Tuesday, Apr 30, 2013 12:07 PM PDT  By Sarah McBride SAN FRANCISCO (Reuters) - Ride-sharing service Uber is raising a new funding round at a valuation of $1 billion, according to a person familiar with the situation. If the company succeeds, it will join an elite group of start-ups that command 10-figure valuations. The situation underscores investors' desire to pay premiums for any company they think might become the type of outsized success story along the lines of business network LinkedIn or software company Workday. ... Full Story | Top |
| Qualcomm steps up chip branding campaign, plans TV ad Tuesday, Apr 30, 2013 12:05 PM PDT  By Noel Randewich SANTA CLARA, California (Reuters) - Qualcomm Inc is stepping up its Snapdragon chip branding campaign, including a commercial for movie theaters and television, in a bid to build customer loyalty in an increasingly competitive smartphone industry. Chief Marketing Officer Anand Chandrasekher showed analysts a commercial playing in US theaters and said it would also be rolled out in other countries, including China. Qualcomm plans to air it on national TV within the next couple of months. "We're trying to build an emotional bond with our customers," Chandrasekher said. ... Full Story | Top |
| Mexico Congress gives final approval to sweeping telecom reform Tuesday, Apr 30, 2013 11:37 AM PDT  MEXICO CITY (Reuters) - Mexico's Congress on Tuesday gave final approval to an expansive overhaul of the telecommunications sector, which aims to boost competition in the industry and tame the likes of billionaire Carlos Slim and broadcaster Televisa. The bill encourages more foreign investment in the telecoms industry and gives regulators the power to stop companies from controlling more than 50 percent of the market, a measure aimed directly at telecoms giant Slim and Televisa. The telecoms overhaul is part of President Enrique Pena Nieto's wider economic reform agenda. ... Full Story | Top |
| New CEO to expand Sirius beyond satellite radio in cars Tuesday, Apr 30, 2013 11:22 AM PDT  By Liana B. Baker (Reuters) - The new CEO of satellite radio company Sirius XM Radio Inc thinks radio is a good business, but for the future he said opportunities may lie with in-car services like automated safety. The company is investing in telematics, another name for automated security and safety services in cars such as General Motor's OnStar brand. It signed a deal with Nissan Motor Corp in the fall and is looking for more agreements, CEO Jim Meyer said in an interview. Meyer laid out his plans after he was appointed full-time CEO on Tuesday. ... Full Story | Top |
| Symantec shares plunge, traders see mini 'flash crash' Tuesday, Apr 30, 2013 11:19 AM PDT By Ryan Vlastelica (Reuters) - Shares of Symantec Corp plunged some 10 percent in a matter of seconds on Tuesday before being halted by the Nasdaq, in the latest instance of what traders called a single-stock "flash crash." There was no news on the security software maker that triggered the move around 10:11 a.m. EDT. The plunge recalled the "flash crash" of May 2010 because Symantec said Tuesday's fall was also caused by a large sell order. Symantec spokesman Cris Paden said somebody put in the large order without specifying a bottom limit at which they were willing to sell the stock. ... Full Story | Top |
| Analysis: First Data's new CEO faces debt burden, needs growth Tuesday, Apr 30, 2013 11:12 AM PDT By Greg Roumeliotis NEW YORK (Reuters) - First Data Corp's new chief, Frank Bisignano, said he can tackle the world's largest payment processing company's roughly $24 billion debt burden by boosting profits and positioning it for an initial public offering. But the former JPMorgan Chase & Co executive has a tough task ahead. First Data, which KKR & Co LP bought for $29 billion in 2007, has been in the red consistently over the past six years as interest payments on the debt exceeded profits. ... Full Story | Top |
| SoftBank slams Dish's Sprint bid, rules out sweeteners Tuesday, Apr 30, 2013 10:27 AM PDT  By Mari Saito and Sinead Carew TOKYO/NEW YORK (Reuters) - SoftBank Corp President Masayoshi Son came out swinging on Tuesday against Dish Network Corp's rival bid for Sprint Nextel Corp, saying the satellite TV company would cripple Sprint with debt and was ill-prepared to run a wireless service. Billionaire Son said there would be no need for SoftBank to sweeten its bid and he dismissed Dish's $25.5 billion offer as "incomplete and illusory." He argued his $20.1 billion offer would ultimately be better value for Sprint shareholders. Son, who plans to make a U.S. ... Full Story | Top |
| Apple bond order book tops $50 billion: market sources Tuesday, Apr 30, 2013 09:38 AM PDT  NEW YORK, April 30 (IFR) - Apple Inc has attracted more than $50 billion in orders for its six-part debt sale expected to price later on Tuesday, according to two market sources. Apple is issuing three-year and five-year fixed and floating-rate notes, as well as 10-year and 30-year fixed-rate notes via Deutsche Bank and Goldman Sachs. The company is expected to issue at least $15 billion in debt. (Reporting By IFR reporters; Writing by Ciara Linnane) Full Story | Top |
| Jawbone acquires BodyMedia for more than $100 million: source Tuesday, Apr 30, 2013 06:04 AM PDT By Alexei Oreskovic SAN FRANCISCO (Reuters) - Jawbone acquired BodyMedia Inc, the maker of weight-monitoring arm bands, for more than $100 million, according to a person familiar with the matter. The deal will help Jawbone's efforts to bolster its position in the wearable technology market, with nearly 300 pending and issued patents, the company said on Tuesday. Pittsburgh-based BodyMedia's 60 employees will join Jawbone as part of the deal. ... Full Story | Top |
| 3D Systems revenue jumps as it sells more printers Tuesday, Apr 30, 2013 05:55 AM PDT (Reuters) - Three-dimensional printer maker 3D Systems Corp reported a 31 percent jump in quarterly revenue as it benefited from robust spending on manufacturing and R&D. Shares in the company, whose peers include Stratasys Ltd and recently listed ExOne Co , were up about 3 percent in premarket trading on Tuesday. Revenue rose to $102.1 million in the first quarter as 3D Systems sold 81 percent more printers and gross margin expanded 250 basis points. Net income fell to $5.9 million, or 6 cents per share, from $6.2 million, or 8 cents per share, a year earlier. ... Full Story | Top |
| Verizon to invest $100 million in solar, fuel cell technology Tuesday, Apr 30, 2013 05:04 AM PDT  By Environment Correspondent Deborah Zabarneko WASHINGTON (Reuters) - Verizon said on Tuesday it plans to invest $100 million in solar power and fuel cells at 19 facilities in seven U.S. states to cut its carbon footprint and make its operations more resilient to storms and other disasters. The energy project should be complete by next year, with installations at corporate offices, call centers, data centers and central offices of the telecommunications giant in Arizona, California, Maryland, Massachusetts, New Jersey, New York and North Carolina. ... Full Story | Top |
| Paul Allen gaining respect with sports, real estate moves Tuesday, Apr 30, 2013 04:41 AM PDT  By Bill Rigby SEATTLE (Reuters) - Paul Allen, the lesser known co-founder of Microsoft Corp, has struggled for decades to make his mark as a business mogul beyond the software company he started with Bill Gates. Since he quit Microsoft in 1983, the quiet Seattle native has lost billions of dollars on ill-conceived or mistimed technology investments, and he has been mocked as a juvenile playboy manqué for spending lavishly on giant yachts and off-beat projects like a Frank Gehry-designed rock museum. ... Full Story | Top |
| Factbox: Paul Allen's investment hits and misses Tuesday, Apr 30, 2013 04:41 AM PDT SEATTLE (Reuters) - Microsoft Corp co-founder Paul Allen has constructed a $15 billion portfolio of tech, sports, real estate and energy investments, while giving to a wide range of philanthropic causes. Not all his bets have been a success. The following is a list of his most notable hits and misses over the past 30 years. TECHNOLOGY Microsoft - Co-founders Allen and Bill Gates started off with a 64/36 partnership. Allen's share was worth about $30 billion at the company's zenith in 1999-2000. He now has only a small stake. ... Full Story | Top |
| SoftBank: heard Sprint approval process moving smoothly Tuesday, Apr 30, 2013 02:16 AM PDT TOKYO (Reuters) - SoftBank Corp President Masayoshi Son said on Tuesday that the company has heard from U.S. authorities that the approval process for its Sprint Nextel Corp deal is moving smoothly. Son has said the U.S. regulatory review of the deal was on schedule and reiterated that the offer was on track to close by July 1. The deal has been challenged by a counteroffer from Dish Network Corp. (Reporting by Mari Saito; Editing by Edmund Klamann) Full Story | Top |
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