Today's Reuters Technology News Headlines - Yahoo! News:
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China Disney project secures $2 billion loan: media
Tue,10 Apr 2012 09:29 PM PDT
Reuters - SHANGHAI (Reuters) - The operator of the planned Shanghai Disney theme park has secured a 12.9 billion yuan ($2 billion) syndicated loan for the construction of the park, Chinese media reported on Wednesday, a boost for Walt Disney Co as it embarks on a newly announced animation venture in China. Shanghai Securities News cited Shao Xiaoyun, a vice president of Shanghai Shendi Group, the Disney theme park operator, as saying the project will receive two syndicated loan amounts, the first of which is 12.9 billion yuan. ... Full Story | Top |
Starboard to AOL: Patent sale not enough
Tue,10 Apr 2012 06:20 PM PDT
Reuters - (Reuters) - Activist hedge fund Starboard Value, dissatisfied with AOL's $1 billion deal to sell the majority of patents to Microsoft Corp , has filed with U.S. regulators for the nomination of three of its candidates to the board of the Internet firm. In a letter to the AOL Inc board released on Tuesday, Starboard said that while it was pleased with the patent sale, it did not address "serious concerns" with the "poor operating performance" at AOL. Starboard Value said in February it intended to nominate five members to AOL's board. ... Full Story | Top |
DOJ may sue Apple over ebooks as early as Wednesday: sources
Tue,10 Apr 2012 05:18 PM PDT
Reuters -  WASHINGTON/SAN FRANCISCO (Reuters) - The Justice Department could sue Apple Inc as early as Wednesday over alleged electronic book price-fixing, while settling with several publishers as early as this week, two people familiar with the matter said. The Justice Department is investigating alleged price-fixing by Apple and five major publishers: CBS Corp's Simon & Schuster Inc; HarperCollins Publishers Inc; Lagardere SCA's Hachette Book Group; Pearson and Macmillan, a unit of Verlagsgruppe Georg von Holtzbrinck GmbH. ...
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Global cyber arms race engulfing Web - Defense official
Tue,10 Apr 2012 05:05 PM PDT
Reuters - WASHINGTON (Reuters) - A global cyber arms race is engulfing the Internet and the best way to counter the rapidly escalating threat is combining the efforts of U.S. agencies, private firms and international allies, cyber security officials said on Tuesday. Cyber experts from across the U.S. government, speaking at a conference at Georgetown University, said organized crime, espionage and security activity on the Internet pose a rising threat to U.S. intellectual property, military superiority and critical infrastructure. ... Full Story | Top |
DOJ may sue Apple over ebooks early as Wednesday: sources
Tue,10 Apr 2012 04:59 PM PDT
Reuters - WASHINGTON/SAN FRANCISCO (Reuters) - The Justice Department could sue Apple Inc as early as Wednesday over alleged electronic book price-fixing, while settling with several publishers as early as this week, two people familiar with the matter said. The Justice Department is investigating alleged price-fixing by Apple and five major publishers: CBS Corp's Simon & Schuster Inc, HarperCollins Publishers Inc, Lagardere SCA's Hachette Book Group, Pearson and Macmillan, a unit of Verlagsgruppe Georg von Holtzbrinck GmbH. ...
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Best Buy CEO resigns during personal conduct probe
Tue,10 Apr 2012 04:19 PM PDT
Reuters -  (Reuters) - Best Buy Co Chief Executive Brian Dunn suddenly resigned from the company during an investigation into allegations of personal misconduct, the electronics retailer said on Tuesday. The surprise departure comes as Best Buy, the world's largest electronics retailer, has struggled because consumers are purchasing more electronics online and can easily compare competitors' prices on their mobile devices while looking at a product in a Best Buy store. "Certain issues were brought to the board's attention regarding Mr. ...
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Ford, Yahoo reality show to tout electric Focus
Tue,10 Apr 2012 04:00 PM PDT
Reuters -  NEW YORK/DETROIT (Reuters) - Ford Motor Co will partner with Yahoo Inc on a reality show this spring to promote its first electric passenger car, a move that comes as the auto industry is growing more pessimistic about the prospects for these kinds of vehicles. The show, called "Plugged In," will be broadcast on Yahoo's streaming video site starting in May, Ford said in a news release on Tuesday. Three two-person teams will travel to 10 major U.S. cities, including Los Angeles and New York, and compete in a scavenger hunt while driving the Focus Electric. ...
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Best Buy CEO resigns during personal conduct probe
Tue,10 Apr 2012 02:59 PM PDT
Reuters -  (Reuters) - Best Buy Co Chief Executive Brian Dunn suddenly resigned from the company during an investigation into allegations of personal misconduct, the electronics retailer confirmed on Tuesday. "Certain issues were brought to the board's attention regarding Mr. Dunn's personal conduct, unrelated to the company's operations or financial controls, and an audit committee investigation was initiated. Prior to the completion of the investigation, Mr. Dunn chose to resign," said Claire Koeneman, an external spokeswoman for Best Buy. She would not comment on what the issues were. ...
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Sony sees record $6.4 billion loss on tax hit
Tue,10 Apr 2012 02:15 PM PDT
Reuters -  TOKYO (Reuters) - Japan's Sony Corp flagged a record $6.4 billion annual net loss, double an earlier forecast and a fourth straight year of red ink, as it writes off deferred tax credits, heaping more pressure on its new CEO to turn around the electronics giant. Sony, which plans to axe 10,000 jobs - around 6 percent of its global workforce - according to media reports this week, has been hammered by weak demand for its televisions and overtaken by more innovative gadget rivals such as Apple Inc and Samsung Electronics. ...
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Exclusive: China's ZTE planned U.S. computer sale to Iran
Tue,10 Apr 2012 01:53 PM PDT
Reuters -  (Reuters) - China's ZTE Corp, which recently sold Iran's largest telecommunications firm a powerful surveillance system, later agreed to ship to Iran millions of dollars worth of embargoed U.S. computer equipment, documents show. The American components were part of an 8 million euro ($10.5 million) equipment-supply contract, dated June 30, 2011, between ZTE, a Chinese trading firm and a unit of the consortium that controls the Iranian telecom, Telecommunication Co. of Iran, according to documents reviewed by Reuters. ZTE is China's second-largest telecommunications equipment maker. ...
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Yahoo CEO sketches out new plan to jump-start growth
Tue,10 Apr 2012 01:32 PM PDT
Reuters -  SAN FRANCISCO (Reuters) - Yahoo Inc Chief Executive Scott Thompson outlined how the Internet pioneer will revive itself by putting in place a new structure to sharpen its focus on users, advertisers and overlooked areas such as commerce. The company said last week it would lay off 2,000 people or 14 percent of its workforce, and it set in motion a broad restructuring. Thompson, a former PayPal executive credited with driving growth at eBay Inc's payments division, said in an internal memo on Tuesday the company would be organized along three core divisions beginning May 1. ...
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Court narrows reach of computer fraud law
Tue,10 Apr 2012 01:24 PM PDT
Reuters - (Reuters) - A U.S. appeals court rejected the government's broad reading of a computer fraud law to prosecute workers who steal from company computers, saying it could expose millions of Americans to prosecution for harmless activities at work. The 9-2 decision by the 9th U.S. Circuit Court of Appeals in San Francisco diverges from broader readings of the federal Computer Fraud and Abuse Act by three other federal appeals courts. This raises the chance that the U.S. Supreme Court might decide to try to resolve the issue. ... Full Story | Top |
Tablet boom waiting for corporate wave
Tue,10 Apr 2012 12:30 PM PDT
Reuters - (Reuters) - When John Sperling, 91-year old chairman of Apollo Group Inc , calls into meetings at the education company he founded, he opens an iPad app Fuze instead of video conferencing gear installed at his home. Software crucial for corporate users - such as apps for video conferencing - has started to find its way into Apple's iPad and other tablet computers, opening the door to potentially vast demand for tablets from businesses. ... Full Story | Top |
Equity finance an option, but no plans: Sony CFO
Tue,10 Apr 2012 11:37 AM PDT
Reuters - TOKYO (Reuters) - Sony Corp Chief Financial Officer Masaru Kato told a news briefing on Tuesday that equity finance is an option for the consumer electronics firm, but it has no current plans to raise capital. The ailing Japanese electronics giant said earlier in the day it will post a record net loss of 520 billion yen ($6.4 billion) for the year that ended in March, more than double its previous forecast. ($1 = 81.3900 Japanese yen) (Reporting by Tim Kelly; Editing by Edmund Klamann) Full Story | Top |
Sharp in talks with Toppan, Dai Nippon for Sakai plant
Tue,10 Apr 2012 10:58 AM PDT
Reuters -  OSAKA, Japan (Reuters) - Sharp Corp, Japan's last major fabricator of liquid crystal displays for televisions, said on Tuesday it was in talks with suppliers Toppan Printing and Dai Nippon Printing to sell new shares in its main Sakai plant to spin it off. Sharp, struggling with a glut in supply of LCDs and weak demand for televisions, further raised its overall loss forecast for the year that ended March 31 to a record net deficit of 380 billion yen ($4.8 billion), from an estimate in February for a loss of 290 billion yen. ...
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