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| Gogo says U.S. move on inflight devices 'favorable tailwind' Thursday, Oct 31, 2013 12:38 PM PDT The U.S. decision to allow greater use of electronic devices on flights is "another favorable tailwind" for Gogo Inc., the internet provider for 80 percent of the U.S. commercial aircraft fleet, its chief executive told Reuters on Thursday. Small said the Federal Aviation Administration rules won't generate a significant short-term revenue increase for Gogo, But the move, announced by the announced by FAA administrator Michael Huerta, could yield benefits over the long term if the U.S. move is followed by other nations' regulators, Small said. Itasca, Illinois, based Gogo on Monday signed a contract with Japan Airlines to provide in-flight internet service on the carrier's domestic fleet. Full Story | Top |
| Oracle shareholders give Ellison's pay a thumbs down Thursday, Oct 31, 2013 12:35 PM PDT By Noel Randewich SAN FRANCISCO (Reuters) - A majority of shareholders opposed Oracle Corp Chief Executive Larry Ellison's pay in a non-binding vote on Thursday following complaints that the world's third-richest man makes too much as his company struggles against smaller rivals. The vote against Oracle's executive compensation policy adds to a similar defeat at last year's meeting, and while it requires no changes from the company, it underscores concern among shareholders about high pay in the face of lackluster financial performance. Challenges to the 69-year old Ellison's pay package come as the world's No. 2 software maker, which he co-founded four decades ago, tries to fend off smaller, aggressive companies offering software and Internet-based products at prices that often undercut Oracle. A majority of shareholders voted in support of Oracle's directors, including those on the board's compensation committee - Bruce Chizen, George Conrades and Naomi Seligman. Full Story | Top |
| U.S. to allow expanded electronic device use on flights Thursday, Oct 31, 2013 11:28 AM PDT  Airline passengers will soon be able to use electronic devices throughout their entire flight after the U.S. Federal Aviation Administration ended a long-standing ban on Thursday. Mobile phone calls remain barred under Federal Communications Commission rules. Delta Air Lines and JetBlue quickly filed plans with the FAA to show that their aircraft can tolerate radio signals from electronic devices, a condition required by the regulator. The change is likely to boost the use of gadgets such as Amazon Inc's Kindle readers or Apple Inc's iPad. Full Story | Top |
| U.S. IRS warns of telephone tax scam involving fake caller IDs Thursday, Oct 31, 2013 11:26 AM PDT The U.S. Internal Revenue Service warned on Thursday about a growing tax scam in which fraudsters display an IRS phone number on the intended victim's caller ID and demand money. Particularly targeting recent U.S. immigrants, the scammer typically tells the targets over the phone that they owe money to the IRS and demands payment via a pre-loaded debit card or wire transfer, the IRS said. The victim's caller ID displays an IRS toll-free number in a deception known as caller ID spoofing. They may also send follow-up emails from a bogus IRS address. Full Story | Top |
| Finland says government's data network hit by severe hacking Thursday, Oct 31, 2013 10:58 AM PDT  Finland's foreign minister said on Thursday foreign intelligence agents had carried out large-scale hacking into government communications, and a Finnish TV station said China and Russia were suspected. Erkki Tuomioja said the breach of the Foreign Ministry's data network was discovered in spring, and Finland's intelligence service was investigating it as a case of serious espionage. Full Story | Top |
| Microsoft, Infineon suits to proceed in Canada, not ADM Thursday, Oct 31, 2013 10:49 AM PDT  By Randall Palmer OTTAWA (Reuters) - Consumers may join class action lawsuits against Microsoft Corp and Infineon Technologies AG over allegations of unfair pricing for computer products, the Supreme Court of Canada ruled on Thursday. The high court refused to allow a class action to proceed against Archer Daniels Midland Co (ADM) and Cargill Inc over alleged price-fixing on high-fructose corn syrup used in soft drinks and baked goods. The Supreme Court, in linked decisions on Microsoft and Infineon, certified separate class actions against the companies. Full Story | Top |
| Sony slashes profit outlook with TV business back in red Thursday, Oct 31, 2013 09:12 AM PDT  Sony Corp cut its full-year profit targets after slipping to a quarterly net loss as its recovering TV operation relapsed into the red. With a quarterly net loss of 19.3 billion yen ($197 million), Sony's bad-news Thursday came in stark contrast to an upbeat showing by Japanese peer Panasonic Corp. It also stirred doubts about how the best-known Japanese technology company can anchor a turnaround as rivals like Apple Inc and Samsung Electronics Co have gained dominance through heavy investment in new mobile devices. "I still cannot see any fundamental and believable strategy for the rebirth of Sony's electronics business," said Makoto Kikuchi, CEO of Myojo Asset Management based in Tokyo. "On the other hand Panasonic, which is shifting its business away from consumer electronics, is reporting better-than-expected results. Full Story | Top |
| German journalists urged to shun Google and Yahoo Thursday, Oct 31, 2013 09:01 AM PDT  By Harro Ten Wolde FRANKFURT (Reuters) - The union representing German journalists advised its members on Thursday to stop using Google and Yahoo because of reported snooping by U.S. and British intelligence. "The German Federation of Journalists recommends journalists to avoid until further notice the use of search engines and e-mail services from Google and Yahoo for their research and digital communication," the union said in a statement. "The searches made by journalists are just as confidential as the contact details of their sources and the contents of their communication with them," said Michael Konken, head of the union which represents about 38,000 journalists. The Washington Post reported on Wednesday that the NSA had tapped directly into communications links used by Google and Yahoo to move large amounts of email and other user information between overseas data centers. Full Story | Top |
| Facebook shares back on roller-coaster, but analysts see value Thursday, Oct 31, 2013 07:16 AM PDT  (Reuters) - More than a dozen brokerages increased their price targets on Facebook Inc shares on Thursday. Facebook's shares fell 3 percent to $47.45 at the opening, resuming the roller-coaster ride they have been on since the No. 1 social network released results on Wednesday. Facebook's shares soared as much as 15 percent in extended trading on Wednesday before suddenly falling to $47.40, down 3 percent from their $49.10 close. Facebook shares, which have nearly doubled in value this year, breached the $50 mark in heavy premarket trading after a slew of analysts raised their price targets to as much as $65. Full Story | Top |
| Hon Hai says to focus on content creation to drive value Thursday, Oct 31, 2013 05:44 AM PDT  The world's largest electronics assembler Hon Hai Precision Industry said on Thursday it will turn new software development centers in southern Taiwan into a data and cloud power base to focus on content creation. It is Hon Hai's latest effort to climb up the value business chain, after winning local 4G licenses the previous day. "Integration of software and hardware is the future," company chairman Terry Gou told reporters at Kaohsiung Software Technology Park in southern Taiwan. "Taiwan is our first step (for 4G business ). Full Story | Top |
| China's Alibaba to launch online fund sales service: media Thursday, Oct 31, 2013 04:41 AM PDT  By Paul Carsten BEIJING (Reuters) - Alibaba Group Holdings has secured approval from the China Securities Regulatory Commission (CSRC) to act as a third party for the online sale of fund products, local media group Caixin reported on its website. The fund products will soon be available on Alibaba's Amazon-like Taobao website, according to the report. The approval marks a further step for Alibaba towards providing an alternative to China's tightly regulated traditional financial system. Alibaba affiliate Alipay, whose parent company Zhejiang Alibaba E-Commerce Co is controlled by billionaire Alibaba founder Jack Ma, said in August that it had partnered with 37 funds to offer wealth management products to its customers. Full Story | Top |
| Sharp swings to first quarterly profit in two years, helped by weak yen Thursday, Oct 31, 2013 12:33 AM PDT  Japan's Sharp Corp reported its first quarterly net profit in two years, beating estimates, as the weaker yen and revived demand for solar cells and display panels boosted the consumer electronics maker's turnaround drive. Sharp, a supplier of panels for Apple Inc's iPhone, said on Thursday it made a net profit of 13.6 billion yen ($139 million) in its fiscal second quarter, its first since the three months ended September 2011. That easily beat an expected net loss of 9 billion yen, according to Thomson Reuters' Starmine SmartEstimate, the average of the most accurate analysts' estimates. A year earlier, in the trough of a depression brought on by strong competition from foreign rivals and pressure on its overseas revenues from a strong yen, Sharp made a net loss of 249.2 billion yen. Full Story | Top |
| Alcatel revenues lifted by U.S. as cost cuts start Thursday, Oct 31, 2013 12:06 AM PDT  By Leila Abboud PARIS (Reuters) - Telecom equipment maker Alcatel-Lucent posted higher revenues in the third quarter helped by double-digit growth in the highly profitable U.S. market as it raced to cut costs to try to end six straight quarters of losses. Alcatel-Lucent Chief Executive Michel Combes, who took the helm in April after heading Vodafone Europe from 2008 to 2012, is seeking to streamline the group to focus on high-speed mobile and fixed broadband products, while slashing the staff by 10,000 to save 1 billion euros by 2015. The margin improvement came from selling higher-margin IP networking routers and fixed broadband products, which help telecom operators carry mobile data traffic, as well as the effect of cost cuts. Full Story | Top |
| Panasonic raises full-year operating profit forecast Wednesday, Oct 30, 2013 11:17 PM PDT  Panasonic raised its full-year earnings forecast as expected, with strong sales of its automotive systems and eco-friendly technology powering its transformation into an industrial components supplier from a consumer electronics brand. Panasonic Corp increased its operating profit forecast for the year to March to 270 billion yen ($2.75 billion) from a previous forecast of 250 billion yen. That compares with expectations of 268.2 billion yen, the average of 19 analyst estimates according to Thomson Reuters Starmine. After a round of heavy restructuring that has seen Panasonic pull out of plasma TVs, smartphones and downsize its chipmaking segment, the Japanese company posted a net profit of 61.5 billion yen for the three months to September. Full Story | Top |
| Starbucks CEO Schultz resigns from Square Inc's board Wednesday, Oct 30, 2013 06:23 PM PDT  (Reuters) - Privately-owned mobile payments company Square Inc said Starbucks Corp Chief Executive Howard Schultz had resigned from the board 15 months after joining one of Silicon Valley's hottest start-ups. Square, founded in 2009 by Twitter Inc co-creator Jack Dorsey, said it named David Viniar as a replacement. Viniar was most recently the chief financial officer of Goldman Sachs Group Inc. "Howard's guidance has helped Square grow as a company and as a business. Schultz joined Square's board in August last year by investing $25 million in a deal to use its technology to process debit and credit card payments at the coffee chain's stores. Full Story | Top |
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