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| U.S. intelligence officials warn Congress not to curb data collection Wednesday, Jul 24, 2013 12:28 PM PDT  WASHINGTON (Reuters) - U.S. spy chiefs joined ranks on Wednesday against efforts in Congress to sharply curtail the National Security Agency's vast data collection program, warning that would endanger an essential intelligence tool. In an unusually public discourse on a secret spying program, James Clapper, the director of national intelligence, joined the White House and senior Republican lawmakers who oversee the intelligence agencies in cautioning against cutting funding for NSA's data collection. ... Full Story | Top |
| U.S. lawmaker worried NSA snooping will hurt digital trade Wednesday, Jul 24, 2013 12:24 PM PDT By Doug Palmer WASHINGTON (Reuters) - A U.S. lawmaker said on Wednesday he was worried revelations about U.S. surveillance activity on the Internet could encourage governments to erect new barriers to digital trade just as United States is pushing to tear existing ones down. "That should be part of the equation when we're think how we should balance security and privacy. We should think about (how such surveillance activities affect) public perception in allied countries and ... how public perception impacts trade," said Representative Jared Polis, a Democrat. ... Full Story | Top |
| Google gets deeper into hardware with new tablet, TV gadget Wednesday, Jul 24, 2013 11:54 AM PDT  By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google Inc on Wednesday showcased a new-generation, slimmer Nexus 7 tablet that the Internet search company hopes will expand its presence in consumer hardware, and ensure that its online services remain front-and-center on mobile devices. The latest Nexus 7, featuring a Qualcomm Inc Snapdragon processor and a higher display resolution, on July 30 will be priced at $229 for a basic version with 16 gigabytes of storage. The original year-old tablet started at $199 for an 8 gigabyte version. ... Full Story | Top |
| Dell founder ups takeover bid based on voting rule change Wednesday, Jul 24, 2013 11:48 AM PDT  By Poornima Gupta, Soyoung Kim and Greg Roumeliotis (Reuters) - Dell Inc founder Michael Dell raised his $24.4 billion bid by $150 million on Wednesday on condition that shareholder voting rules are changed so that it will be easier for him to take the No.3 personal computer maker private. The sweetened offer, which Michael Dell and his private equity backer Silver Lake publicly called their best and final proposal, is the latest twist in a seven-month long saga over the fate of Dell, whose profits are under pressure from the rise of smart phones and tablet computers. ... Full Story | Top |
| Exclusive: Zulily hires banks for possible IPO - sources Wednesday, Jul 24, 2013 11:13 AM PDT By Alistair Barr SAN FRANCISCO (Reuters) - Zulily hired investment banks in recent weeks to advise the fast-growing e-commerce company on a possible initial public offering, according to two people familiar with the situation. Zulily, a "flash sales" company founded by former Blue Nile executives Mark Vadon and Darrell Cavens, tapped Goldman Sachs, Citigroup's investment bank and Bank of America Merrill Lynch, for the IPO push, according to one of the people. Zulily is one of the first of a new crop of e-commerce companies to try to go public. ... Full Story | Top |
| Motorola Solutions cuts sales forecast second time in three months Wednesday, Jul 24, 2013 10:54 AM PDT By Neha Alawadhi (Reuters) - Motorola Solutions Inc, known for its walkie-talkies, cut its 2013 sales forecast for the second time in three months and said business customers continued to delay purchases. Shares of the company, which depends on government spending for most of its revenue, fell as much as 10 percent on the New York Stock Exchange in heavy trading on Wednesday. Motorola Inc spun off its cellphone arm into Motorola Mobility in January 2011 and renamed itself Motorola Solutions. Motorola Mobility was later sold to Google Inc. ... Full Story | Top |
| Apple wobbles in China as rivals offer more, for less Wednesday, Jul 24, 2013 07:04 AM PDT  By Poornima Gupta and Lee Chyen Yee SAN FRANCISCO/HONG KONG (Reuters) - A sharp drop in Apple Inc's China revenue in April-June underscores the challenges it faces in its second-largest market as the technology gap with cheaper local rivals narrows and as Samsung Electronics keeps up a steady stream of new models across all price ranges. While investors marked up Apple shares as the company sold more of its iPhones than expected, the stock rally may prove short-lived as demand for its products fades in China. ... Full Story | Top |
| Surge in iPhone sales rings well with Apple investors Wednesday, Jul 24, 2013 06:49 AM PDT  (Reuters) - Apple Inc shares opened about 5 percent higher on Wednesday after the technology company's third-quarter profit beat analysts' expectations due to stellar sales of its iPhones. The world's largest technology company said it sold 31.2 million iPhones in the quarter, far more than the expected 26 million, easing concerns that growing competition is hurting demand for its smartphones. ... Full Story | Top |
| Hard disk maker Seagate's fourth-quarter shipments slip Wednesday, Jul 24, 2013 05:23 AM PDT (Reuters) - Hard disk drive maker Seagate Technology Plc reported slightly better-than-expected quarterly results, but shipments dropped 18 percent from a year earlier. The company's shares were down 5 percent at $42.99 in premarket trading on Tuesday. Seagate and rival Western Digital Corp are working to reduce their dependence on personal computer hard drives as consumers increasingly shift to smartphones and tablets by tapping into the growing demand for products that help customers store data in the cloud. Global shipments of personal computers slumped 10. ... Full Story | Top |
| EMC profit matches estimates as cloud software unit shines Wednesday, Jul 24, 2013 04:17 AM PDT (Reuters) - EMC Corp , the world's largest data storage equipment maker, reported quarterly profit that met analysts' expectations, helped by growth at its cloud software unit, VMware Inc . Excluding one-time items, the company earned 42 cents per share in the second quarter, meeting analysts' estimates, according to Thomson Reuters I/B/E/S. EMC's revenue was $5.61 billion in the quarter, in line with analysts' estimates. It reported $5.31 billion a year earlier. Net income attributable to the company was $701 million, or 32 cents per share, in the second quarter. ... Full Story | Top |
| Licensing demand helps chip designer ARM beat expectations Wednesday, Jul 24, 2013 04:06 AM PDT By Paul Sandle LONDON (Reuters) - British chip designer ARM Holdings said it expected continued strong demand for its technology after higher-than-expected licensing of its processors in the second quarter. The Cambridge-based company reported a 30 percent rise in pretax profit to 86.6 million pounds ($133 million) on Wednesday, beating forecasts. ARM has outpaced the wider semiconductor market for the past five years or so, helped by the use of its processors in smartphones like Apple's iPhone and tablet computers. ... Full Story | Top |
| Canon cuts profit outlook as China slowdown hits cameras Wednesday, Jul 24, 2013 01:03 AM PDT  By Sophie Knight TOKYO (Reuters) - Japan's Canon Inc cut its profit forecast for the year to December and trimmed its sales targets for both high-end and compact digital cameras as a slowdown in China and other emerging economies caught the company off-guard. Canon, the world's largest maker of digital cameras, kicked off the quarterly earnings reporting season for Japan's big-name tech manufacturers by cutting its operating profit forecast to 380 billion yen ($3.81 billion), down 16 percent from guidance issued just three months ago. ... Full Story | Top |
| LG Electronics sees third quarter profit growth on firmer smartphone sales Wednesday, Jul 24, 2013 12:26 AM PDT  SEOUL (Reuters) - LG Electronics Inc on Wednesday forecast a year-on-year increase in its current third-quarter profit and revenue, driven by firmer sales of smartphones, as it plans to introduce its flagship G2 smartphone model next month. Profits and revenues, however, were expected to decline from the second-quarter due to weaker seasonal demand for home appliances and air conditioners, the company said. The South Korean firm had earlier reported a better-than-expected 9 percent drop in quarterly profit. (Reporting by Miyoung Kim; Editing by Miral Fahmy) Full Story | Top |
| Alvarion receives delisting notice from Nasdaq, seeks hearing Wednesday, Jul 24, 2013 12:08 AM PDT TEL AVIV (Reuters) - Israeli wireless broadband technology firm Alvarion said it received a letter from Nasdaq's Listing Qualifications Department indicating the company's ordinary shares are subject to delisting. The department cited concerns stemming from the appointment of a receiver to enforce liens registered against the company as well as the residual equity interest of the company's shareholders, Alvarion said on Wednesday. The company said it intends to request a hearing before the Nasdaq Listing Qualifications Panel to review the decision. ... Full Story | Top |
| LG Elec second-quarter profit dips on weak TV recovery; sets smartphone sales record Tuesday, Jul 23, 2013 10:09 PM PDT  SEOUL (Reuters) - LG Electronics Inc, the world's No.2 TV maker, reported a 9 percent fall in quarterly profit on Wednesday, beating forecasts as weak TV sales and tight margins offset a solid recovery in its smartphone business. April-June operating profit fell to 479 billion won ($428.8 million), above a consensus forecast of 457 billion won by Thomson Reuters I/B/E/S. The profit compares with 526.7 billion won a year ago and 349.5 billion won in the previous quarter. ... Full Story | Top |
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