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| Under pressure Infosys recalls Narayana Murthy as chairman Saturday, Jun 01, 2013 12:18 AM PDT  MUMBAI (Reuters) - Indian IT services firm Infosys Ltd, grappling with a string of disappointing results and loss of market share, has recalled founder and former chairman N.R. Narayana Murthy to act as executive chairman for five years. He replaces current chairman K.V.Kamath, who will become lead independent director, effective June 1. The current executive co-chairman S. Gopalakrishnan will be re-designated executive vice chairman, while current chief executive officer S.D. Shibulal will remain in his position, Infosys said in a statement on Saturday. ... Full Story | Top |
| DirecTV, two others bid over $1 billion for Hulu: source Friday, May 31, 2013 05:10 PM PDT  By Ronald Grover and Liana B. Baker (Reuters) - Satellite operator DirecTV and two other bidders have offered more than $1 billion apiece to buy Hulu, a source with knowledge of the bidding process said on Friday, increasing the likelihood that owners News Corp and Walt Disney Co will be able to shed the video streaming service they failed to sell in 2011. Hulu board members, who are being advised by Guggenheim Partners on the auction, fielded at least seven buyout offers last week, the source said. ... Full Story | Top |
| Trade panel delays decision in Apple-Samsung fight Friday, May 31, 2013 03:44 PM PDT  WASHINGTON (Reuters) - The U.S. International Trade Commission, which hears many patent fights, on Friday extended its deadline for ruling on whether Apple Inc infringes patents owned by Samsung Electronics Co Ltd in making the iPod Touch, iPhone and iPad. The ITC had said it would make a decision on Friday but delayed it until Tuesday, June 4. It gave no reason for the extension. An administrative law judge at the ITC had said in a preliminary ruling in September that Apple was innocent of violating the patents. The next step is for the full commission to weigh in. ... Full Story | Top |
| Yelp open to partnering with Facebook's rival offering: CFO Friday, May 31, 2013 03:37 PM PDT By Chandni Doulatramani (Reuters) - Consumer review aggregator Yelp Inc, which analysts say could face intense competition from Facebook Inc's "graph search", is open to partnering with the social networking website's latest offering, Yelp's Chief Financial Officer Rob Krolik told Reuters. Facebook, in January, unveiled its graph search feature, available in a beta version, letting users trawl their network of friends to find everything from restaurants to movie recommendations, bringing it into direct competition with Yelp. ... Full Story | Top |
| Apple joins other foreign brands in raising prices in Japan Friday, May 31, 2013 01:04 PM PDT  TOKYO (Reuters) - Apple Inc raised prices of iPads and iPods in Japan on Friday, becoming the highest-profile brand to join a growing list of foreign firms asking Japanese consumers to pay more as a weakening yen squeezes profit. Some U.S. companies have inoculated themselves at least temporarily against the yen's fall through financial hedging instruments, while others are charging customers more. The yen has fallen more than 20 percent against the U.S. ... Full Story | Top |
| LinkedIn boosts security, offering similar technology as Twitter Friday, May 31, 2013 12:58 PM PDT  (Reuters) - LinkedIn Corp unveiled technology to improve the security of the social networking site for professionals, about a week after Twitter introduced similar tools following a surge in high-profile attacks on its users. The optional service, known as two-factor authentication, is designed to verify the identity of users as they log in by requiring them to enter numeric codes sent via text message. LinkedIn introduced the service on Friday, about a year after a highly publicized breach that exposed passwords of millions of its users. ... Full Story | Top |
| Dell urges shareholders to approve CEO's buyout offer Friday, May 31, 2013 11:21 AM PDT  (Reuters) - Dell Inc called on shareholders on Friday to approve a $24.4 billion buyout offer by founder and CEO Michael Dell and private equity firm Silver Lake, saying the bid was superior to other strategic options. Activist investor Carl Icahn and Southeastern Asset Management launched a counter offer for Dell earlier this month that would allow shareholders to keep their shares. Dell shareholders are scheduled to vote on the Michael Dell/Silver Lake offer at a special meeting on July 18. ... Full Story | Top |
| Ireland rejects U.S. senator claims as tax spat rumbles on Friday, May 31, 2013 09:37 AM PDT  By Padraic Halpin DUBLIN (Reuters) - Ireland has rejected claims by two U.S. senators that Ireland is a tax haven and had handed Apple Inc a special tax deal, a charge the pair stood by on Friday. Ireland's ambassador to the United States Michael Collins has written to the two senators, Carl Levin and John McCain, arguing Ireland's tax system is transparent, according to the text released by the finance ministry. But Levin and former U.S. presidential candidate McCain said records obtained by their committee showed Apple paid a nominal rate far below Ireland's statutory rate of 12.5 percent. ... Full Story | Top |
| India authorities dismiss Nokia tax appeal Friday, May 31, 2013 05:42 AM PDT  NEW YORK (Reuters) - Indian authorities dismissed Nokia's appeals over an income tax demand of 20.8 billion Indian rupees ($370 million), the phone company said, a setback for its efforts to resolve the dispute in a crucial market. Nokia's India unit was served in March with the tax demand for five years starting from 2006/07, in one of several tax disputes involving a foreign company in India. The Finnish phone company said on Friday that it will examine all options, including taking the case back to the Delhi High Court. ($1 = 56. ... Full Story | Top |
| Telecom Italia shares fall more than 4 percent Friday, May 31, 2013 04:43 AM PDT  MILAN (Reuters) - Shares in Telecom Italia fell more than 4 percent on Friday after being briefly halted from trading, a day after the company took the first step to spin off its fixed-line network. The Italian phone company said it would discuss a possible tie-up with Hutchison Whampoa's Italian mobile phone unit, 3 Italia, at a board meeting due to take place on June 5. "The focus is now on what the board will decide regarding the tie-up with Hutchison," said an analyst in Milan, adding there was great uncertainty on the outlook for the company. (Reporting By Giancarlo Navach) Full Story | Top |
| Vodafone and China Mobile pull out of Myanmar race Friday, May 31, 2013 03:19 AM PDT  LONDON (Reuters) - Britain's Vodafone and China Mobile said on Friday they had pulled out of the battle to win a new license in Myanmar, saying the conditions set by the country did not suit the two operators. The Chinese and British groups, the first and second-largest operators in the world respectively, said in April that they had joined forces to bid for a license in the country formerly known as Burma, where the government wants to increase the number of mobile operators from two to four. They were among 12 applicants to reach the short list. ... Full Story | Top |
| Hon Hai sets up display R&D company in Japan Friday, May 31, 2013 02:46 AM PDT  TAIPEI (Reuters) - Taiwan's Hon Hai Precision Industry Co Ltd, said it set up a research and development company in Japan for displays and touch panels, its latest effort to strengthen its display business. The world's largest contract electronics manufacturer, which purchased a 38 percent stake in a Sharp Corp TV panel plant in Sakai, Japan last year, has been investing to integrate its display business as the company looks to diversify from the low-margin contract manufacturing business. ... Full Story | Top |
| Carlyle, Advent, others in hunt for HP's MphasiS stake: sources Friday, May 31, 2013 01:59 AM PDT  By Indulal PM and Sumeet Chatterjee MUMBAI (Reuters) - Private equity giants Carlyle Group LP and Blackstone Group LP as well as Indian outsourcers L&T Infotech and Tech Mahindra Ltd, are lining up bids for Hewlett-Packard Co's $1 billion stake in India's MphasiS Ltd, several sources involved in the process said. Buyout firms Advent International and Bain Capital LLC are also in talks to bid for HP's 60.5 percent stake in MphasiS, an IT services exporter, said the sources, who declined to be named as details of a potential deal are not yet public. ... Full Story | Top |
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