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| Apple, Google, dozens of others urge surveillance disclosures Thursday, Jul 18, 2013 10:15 AM PDT  (Reuters) - Dozens of companies, non-profits and trade organizations including Apple Inc, Google Inc and Facebook Inc sent a letter Thursday pushing the Obama administration and Congress for more disclosures on the government's national security-related requests for user data. ... Full Story | Top |
| Dell postpones meeting on buyout as more votes needed Thursday, Jul 18, 2013 10:09 AM PDT  By Nadia Damouni and Anna Driver NEW YORK/ROUND ROCK, Texas (Reuters) - Dell Inc postponed a shareholder vote on its chief executive's $24.4 billion buyout offer to Wednesday after failing to get enough support to seal the deal, despite winning over several large investors at the eleventh hour. The adjournment of the meeting on Thursday, called minutes after shareholders gathered at Dell's headquarters in Texas to decide on what could be the largest buyout since the financial crisis, buys time for co-founder and CEO Michael Dell to persuade naysayers to switch sides. ... Full Story | Top |
| Verizon rules out service fee changes in new phone upgrade offer Thursday, Jul 18, 2013 10:06 AM PDT  NEW YORK (Reuters) - Verizon Wireless will allow customers who want frequent upgrades of their cellphones to pay for their mobile devices in installments, but the popularity of the new offering may be limited because the company has ruled out any change in service fees. Analysts said that Verizon's plan, and a similar offering announced this week by No. 2 U.S. mobile service provider AT&T Inc , would have limited success because customers would effectively be paying for their smartphone twice. ... Full Story | Top |
| Verizon quarterly revenue misses estimate, shares drop Thursday, Jul 18, 2013 08:52 AM PDT  By Sinead Carew (Reuters) - Verizon Communications Inc said strength in its wireless business was tempered by weakness in its traditional wireline unit, producing softer-than-expected revenue growth for the quarter and sending its shares down nearly 2 percent. The telecommunications company said on Thursday that corporate and government customers were cutting costs, partly offsetting better-than-estimated wireless customer growth. Also, wireless profit margins were hurt by higher costs. ... Full Story | Top |
| Nokia's halting turnaround hit by weak handset sales Thursday, Jul 18, 2013 08:41 AM PDT  By Ritsuko Ando HELSINKI (Reuters) - Weak quarterly sales of Nokia smartphones raised the heat on CEO Stephen Elop, whose decision to adopt Microsoft's untested Windows Phone software has yet to deliver the recovery in the company's fortunes he was hired to achieve. Nokia has pinned its hopes on its Lumia smartphones to close the yawning lead of the market frontrunners Samsung and Apple, but progress has disappointed many investors and analysts. Nokia shares fell as much as 6 percent on Thursday after the company said it shipped 7. ... Full Story | Top |
| India's Tata Consultancy Services profit rises on U.S. demand Thursday, Jul 18, 2013 07:55 AM PDT  By Harichandan Arakali and Aradhana Aravindan BANGALORE/MUMBAI (Reuters) - Tata Consultancy Services, India's largest software services exporter, posted a 17 percent rise in quarterly profit and maintained an upbeat outlook, fuelled by demand from the United States. TCS's results, driven by its highest sales volume growth in seven quarters, reinforce expectations that Indian IT vendors will be helped by the strongest demand from U.S. businesses since the end of the 2008-9 financial crisis. The United States is the biggest market for India's $108 billion IT sector. ... Full Story | Top |
| SAP warns China's slowdown is hurting software sales Thursday, Jul 18, 2013 07:12 AM PDT  By Maria Sheahan FRANKFURT (Reuters) - German business software maker SAP AG trimmed its sales outlook for this year, warning that a slowdown in China was prompting companies across Asia to put investments on hold. China's growth rate slowed to 7.5 percent in the second quarter, the ninth quarter in the last 10 that expansion has weakened, in a setback for companies betting on a continued boom in the world's second-biggest economy. "The slowdown in China is now also impacting the tech industry," co-Chief Executive Jim Hagemann Snabe told journalists on Thursday. ... Full Story | Top |
| Britain to review security at Huawei cyber centre Thursday, Jul 18, 2013 06:53 AM PDT  By Peter Griffiths LONDON (Reuters) - Britain will review security at a cyber centre in southern England run by China's Huawei to ensure that the British telecommunications network is protected, the government said on Thursday. Worries about state eavesdropping of phone data and emails shot up the political agenda last month when former U.S. security contractor Edward Snowden disclosed details of Washington's U.S. PRISM surveillance system. ... Full Story | Top |
| Britain to review security at Huawei cyber center Thursday, Jul 18, 2013 06:51 AM PDT  By Peter Griffiths LONDON (Reuters) - Britain will review security at a cyber center in southern England run by China's Huawei to ensure that the British telecommunications network is protected, the government said on Thursday. Worries about state eavesdropping of phone data and emails shot up the political agenda last month when former U.S. security contractor Edward Snowden disclosed details of Washington's U.S. PRISM surveillance system. ... Full Story | Top |
| Weak sales to PC makers weigh on Fairchild Semi outlook Thursday, Jul 18, 2013 06:30 AM PDT (Reuters) - Chip maker Fairchild Semiconductor International Inc forecast current-quarter sales well below analysts' estimates after reporting lower-than-expected second-quarter results due to weak demand from notebook PC and mobile device makers. The company said it expects third-quarter revenue of $355 million to $370 million, compared with analysts' forecast of $388.2 million, according to Thomson Reuters I/B/E/S. Inexpensive tablets have become the first computing device for many people, leading to a decline in PC sales and the collapse of the mini notebook market. ... Full Story | Top |
| Ericsson profit miss sours hopes of quick turnaround Thursday, Jul 18, 2013 06:25 AM PDT  By Simon Johnson STOCKHOLM (Reuters) - World No. 1 mobile network gear maker Ericsson posted second quarter operating profit well below expectations on Thursday, bruising hopes of a quick recovery at its core network unit. In a quarter hit by a large one-off charge, sales and margins at Ericsson's networks unit were well below expectations, underlining competition from Chinese equipment vendors like Huawei as well as global economic gloom and currency headwinds. ... Full Story | Top |
| SAP CFO sees no China recovery this year Thursday, Jul 18, 2013 06:11 AM PDT FRANKFURT (Reuters) - Germany's SAP AG does not expect economic growth in China to pick up again before the end of the year, the business software maker's finance chief said. "From my perspective we will not see a change for the rest of the year, but going into 2014 I think there are positive signs. That is one of the reasons why we have not stopped investing in Asia," Werner Brandt told analysts during a conference call on Thursday. SAP earlier trimmed its sales outlook for this year, warning that a slowdown in China was prompting companies across Asia to put investments on hold. ... Full Story | Top |
| India's TCS expects to stay ahead of industry export estimate Thursday, Jul 18, 2013 05:58 AM PDT  BANGALORE (Reuters) - Tata Consultancy Services, India's No. 1 software services exporter, expects to stay ahead of the industry export estimates, Chief Executive N Chandrasekaran told reporters on Thursday, after the company beat street expectations for the June quarter. "We will grow above the upper end of the NASSCOM estimate," Chandrasekaran said. The National Association of Software and Services Companies, or NASSCOM, an industry lobby, expects India's IT exports to rise 12-14 percent this year. (Reporting By Harichandan Arakali; Editing by Sunil Nair) Full Story | Top |
| Apple supplier LG Display seeks to broaden smartphone client base Thursday, Jul 18, 2013 02:54 AM PDT  By Miyoung Kim and Hyunjoo Jin SEOUL (Reuters) - Flat-screen maker LG Display Co Ltd, a key supplier to Apple Inc, said on Thursday that it was seeking to broaden its smartphone customer base, betting that diversification would bolster its second-half earnings. The move came as the South Korean company posted a forecast-beating 53 percent rise in quarterly operating profit, as stable prices of large-sized TV screens helped counter slower growth in mobile display shipments to Apple. ... Full Story | Top |
| Samsung bets on storage devices as smartphone sales growth wanes Wednesday, Jul 17, 2013 10:54 PM PDT  By Miyoung Kim SEOUL (Reuters) - Samsung Electronics Co on Thursday launched storage technology aimed at replacing computer hard disk drives as it targets the rapidly expanding memory devices market to offset slowing sales growth for smartphone memory chips. Samsung is the world's top maker of the NAND flash memory chips commonly used in smartphones and solid state drives, or SSDs, which are faster, lighter and consume less power than hard disk drives found in most personal computers. ... Full Story | Top |
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