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| Founder told to sweeten offer for Dell as Icahn ups the stakes Tuesday, Jul 02, 2013 08:46 PM PDT  By Soyoung Kim, Michelle Sierra and Leela Parker NEW YORK (Reuters) - Michael Dell has been advised to raise his $24.4 billion offer for Dell Inc, coming under further pressure as billionaire investor Carl Icahn revealed he had committed more than $3 billion to back an alternative proposal. The PC maker's special committee told Dell's founder and chief executive a few days ago that he should raise his offer if he wants it to succeed, a person familiar with the matter said on Tuesday. ... Full Story | Top |
| Yahoo buys mobile app co Qwiki Tuesday, Jul 02, 2013 05:28 PM PDT  (Reuters) - Yahoo Inc said that it will buy Qwiki Inc, a mobile app for creating videos in Apple Inc's iPhone, as it tries to increase its presence in the world of smartphones and tablets. The company paid about $50 million for the deal, tech blog AllThingsD cited sources as saying. Terms of the deal however were not disclosed. This is Yahoo's third acquisition since May when it bought blogging service Tumblr for $1.1 billion in cash. Earlier this week, the company reportedly acquired Bignoggins Productions, another mobile app developer. ... Full Story | Top |
| Apple hires former Yves Saint Laurent CEO for 'special projects' Tuesday, Jul 02, 2013 04:54 PM PDT  By Poornima Gupta SAN FRANCISCO (Reuters) - Apple Inc has hired the former chief executive of French luxury group Yves Saint Laurent for "special projects" reporting to Chief Executive Officer Tim Cook. "We're thrilled to welcome Paul Deneve to Apple," spokeswoman Kristin Huguet said. "He'll be working on special projects as a vice president reporting directly to Tim Cook." Deneve, who joined Yves Saint Laurent in 2011 after holding senior positions at fashion brands Courreges, Nina Ricci and Lanvin, held several sales and marketing jobs at Apple in Europe between 1990 and 1997. ... Full Story | Top |
| Oklahoma, Nebraska press Google to stop ads for illegal products Tuesday, Jul 02, 2013 03:10 PM PDT WASHINGTON (Reuters) - Nebraska and Oklahoma on Tuesday joined Mississippi in pressuring Google Inc to crack down on Internet advertisements for drugs, including powerful painkillers, that are sold without a prescription, and other counterfeit products. In a letter sent to Google, Nebraska Attorney General Jon Bruning and Oklahoma Attorney General Scott Pruitt complained about Google's practice of placing before some YouTube videos advertisements for pharmacies willing to sell percocet and oxycontin without a prescription. ... Full Story | Top |
| IRS battles tech companies over 2004 offshore tax holiday Tuesday, Jul 02, 2013 01:37 PM PDT By Patrick Temple-West WASHINGTON (Reuters) - The Internal Revenue Service and two technology firms are fighting in court over tax bills from a 2004 corporate tax holiday, with other multinationals watching closely for a result that could come any day, said tax lawyers. In separate cases, BMC Software Inc and Analog Devices Inc are challenging IRS demands that the companies pay more tax, arguing the agency's claim breaches the controversial tax holiday law Congress enacted nine years ago. The two cases are believed to be the first U.S. ... Full Story | Top |
| Zynga, seeking salvation, names Microsoft Xbox head as CEO Tuesday, Jul 02, 2013 12:06 PM PDT  By Gerry Shih and Malathi Nayak SAN FRANCISCO (Reuters) - Zynga Inc's decision to bring in the head of Microsoft Corp's Xbox business to replace founder Mark Pincus is a bold stroke that was hailed on Wall Street, but it still leaves questions as to who is ultimately in charge at the troubled game-maker. Don Mattrick was personally recruited by Pincus. But Pincus holds on to 61 percent of the voting rights due to a two-tiered stock structure and will remain Zynga's chairman and its chief product officer. ... Full Story | Top |
| Telecom Italia, Hutchison talks stalled ahead of board meeting: sources Tuesday, Jul 02, 2013 10:02 AM PDT  By Danilo Masoni and Leila Abboud MILAN/PARIS (Reuters) - Hutchison Whampoa is losing patience with Telecom Italia over lack of progress on a proposed merger of their Italian mobile phone units, people familiar with the talks said, casting doubt on prospects for a deal. The Hong Kong-based conglomerate, backed by Asian magnate Li Ka Shing, favors consolidation to bolster its position in its six European markets and is eager to do a deal in Italy, where it is the smallest mobile operator with a 10 percent market share. ... Full Story | Top |
| JP Morgan leads Nokia's 1.2 billion euro acquisition loan: sources Tuesday, Jul 02, 2013 08:42 AM PDT  By Alasdair Reilly LONDON (Reuters) - JP Morgan is leading the 1.2 billion euro ($1.56 billion) loan backing Finnish mobile handset maker Nokia's 1.7 billion euro acquisition of Siemens' 50 percent stake in joint-venture Nokia Siemens Networks (NSN), banking sources said. The new financing will cover the 1.2 billion euro cash portion due at the closing of the acquisition, with the balance to be paid in the form of a 500 million euro, one-year secured loan from Siemens. The acquisition is expected to close in the third quarter of 2013. Nokia is rated BB- by Standard & Poor's and Ba3 by Moody's. ... Full Story | Top |
| Analysis: Investors buy into software-defined networks, will customers follow? Tuesday, Jul 02, 2013 08:06 AM PDT  By Sayantani Ghosh (Reuters) - As Superstorm Sandy bore down on the East coast last year, companies with data centers in its path needed another location fast. But moving computer servers is tricky, and usually planned over days or weeks. Enter a new technology: software-defined networking, or SDN. Such urgent data moves could now be done within a few hours. Investors, including some of the world's biggest technology companies, are buying into the start-ups behind SDN, a technology that allows users to substitute some of the most complex hardware functions in server switches with software. ... Full Story | Top |
| Bahrain to study restrictions on VoIP services Tuesday, Jul 02, 2013 04:00 AM PDT By Matt Smith DUBAI (Reuters) - Bahrain is to study whether to restrict Internet-based telecom services, the communications minister of the restive Arab state told Reuters, although no final decision was imminent. Internet-based communications including Voice over Internet Protocol (VoIP), instant messaging and social media helped activists launch and nurture the uprisings that toppled long-standing rulers in Tunisia, Egypt and Libya in 2011. ... Full Story | Top |
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