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| Planned LinkedIn $1 billion stock offer is for expansion, products Tuesday, Sep 03, 2013 06:07 PM PDT  By Alexei Oreskovic SAN FRANCISCO (Reuters) - LinkedIn Corp said on Tuesday it will sell an additional $1 billion of its Class A common stock as the Internet company moves to bolster product development and perhaps make more acquisitions. LinkedIn shares, which have more than doubled this year, were down 2.3 percent at $240.49 in after hours trading on Tuesday following its announcement about the secondary share offering. LinkedIn, which had roughly $900 million in cash and short-term securities at the end of June, did not specify when the secondary offering would take place. ... Full Story | Top |
| Insight: As Finland reels, Microsoft doubles down with Nokia phone deal Tuesday, Sep 03, 2013 05:02 PM PDT  By Ritsuko Ando and Bill Rigby HELSINKI/SEATTLE (Reuters) - In an era when shiny new tech start-ups can be worth tens of billions of dollars, Microsoft's deal to acquire Nokia's mobile handset business for 5.44 billion euros ($7.2 billion) is a modest one from a strictly financial point of view. Yet the deal is likely to go down as a major turning point in the contemporary technology business, one that marks the end of a Finnish company's unlikely run as world-beating tech icon even as it shapes the future of Microsoft Corp - for better or for worse. ... Full Story | Top |
| Ride service Uber hires new CFO from Google Tuesday, Sep 03, 2013 04:38 PM PDT SAN FRANCISCO (Reuters) - Privately held ride service Uber, which has raised more than $300 million from investors, announced on Tuesday it hired a chief financial officer and a head of growth with experience at publicly held companies Google Inc and Facebook Inc. Uber said on a blog post it hired Brent Callinicos, most recently treasurer and chief accountant at Google, as CFO. It also hired Ed Baker, previously head of international growth at Facebook, as head of growth. ... Full Story | Top |
| Why Nokia didn't sell its patents to Microsoft Tuesday, Sep 03, 2013 04:05 PM PDT  By Dan Levine SAN FRANCISCO (Reuters) - Nokia may have sold its handset business to Microsoft Corp, but by hanging on to its valuable patent portfolio, the Finnish company could also get a big future payoff at the expense of Android phone makers. Microsoft agreed on Tuesday to pay 3.79 billion euros ($5 billion) for Nokia's handset business and another 1.65 billion euros for a 10-year license for Nokia's patents, considered some of the highest-quality patents in the mobile market. ... Full Story | Top |
| Will the 'smartwatch' become the new smartphone? Apple, Samsung, Sony all betting on it Tuesday, Sep 03, 2013 02:14 PM PDT  By Jeremy Wagstaff SINGAPORE (Reuters) - The smartwatch could be as revolutionary as the smartphone - an intelligent device on our wrist that connects our bodies to data and us to the world - but only a handful of companies have the heft and vision to be able to pull it off. It's not through lack of trying. Watchmakers and others have been adding calculators, calendars and wireless data connections to wrist-straps for at least 30 years. ... Full Story | Top |
| Microsoft swallows Nokia's phone business for $7.2 billion Tuesday, Sep 03, 2013 12:47 PM PDT  By Ritsuko Ando and Bill Rigby HELSINKI/SEATTLE (Reuters) - Microsoft Corp will buy Nokia's phone business and license its patents for 5.44 billion euros ($7.2 billion), a bold foray into mobile devices that also brings potential chief executive contender Stephen Elop back into the fold. Two years after hitching its fate to Microsoft's Windows Phone software, the Finnish phone maker that once dominated the global market collapsed into the arms of the U.S. software giant, its mobile business ravaged by nimbler rivals Apple Inc and Samsung Electronics. ... Full Story | Top |
| Timing of bullish Nokia options trades raises questions Tuesday, Sep 03, 2013 12:15 PM PDT  By David Gaffen (Reuters) - A flurry of bullish bets on Nokia just before markets closed on Friday are in line to pay off handsomely as a result of Microsoft's move to buy the Finnish company's handset business, and has once again raised questions about suspicious timing of such trades. Microsoft Corp said Monday that it would buy Nokia's handset business for $7.2 billion in a bid to win market share in the mobile business. The announcement sparked a massive rally in Nokia's U.S.-listed shares, which were up 30 percent on the day. ... Full Story | Top |
| Canadian telecom majors' shares surge as Verizon threat fades Tuesday, Sep 03, 2013 11:54 AM PDT  By Euan Rocha and Alastair Sharp TORONTO (Reuters) - Shares in Canada's big three wireless providers - BCE Inc, Rogers Communications Inc and Telus Corp - surged on Tuesday after Verizon Communications disclosed that it no longer plans a foray into Canada. Verizon had been sniffing around a possible move into Canada for months. But shortly after clinching a mega $130 billion deal to buy Vodafone Group out of its U.S. wireless business on Monday, the U.S. telecom giant made clear it will not enter the Canadian market for now. ... Full Story | Top |
| New iPhone expected as Apple asks media to September 10 event Tuesday, Sep 03, 2013 10:23 AM PDT  SAN FRANCISCO (Reuters) - Apple Inc on Tuesday sent official invitations to a September 10 event at which it is expected to unveil the latest version of the iPhone, possibly in colors other than its trademark black and white. "This should brighten everyone's day," the typically cryptic invitation read, under a graphic depicting pastel-colored circles surrounding a stark white Apple logo. ... Full Story | Top |
| Factbox: Microsoft's patchy deal history Tuesday, Sep 03, 2013 10:15 AM PDT SEATTLE (Reuters) - Microsoft Corp has agreed to buy Nokia's handset business for $7.2 billion, but there is no guarantee that acquiring the fading cellphone pioneer will accelerate the PC-centric software company's lumbering move toward mobile computing. Over the past two decades Microsoft has spent billions of dollars buying or investing in scores of companies as a shortcut to obtain the technology or market presence it does not possess. But few of those deals have yielded great results. ... Full Story | Top |
| Verizon eyes overseas assets, spectrum, paying down debt Tuesday, Sep 03, 2013 10:11 AM PDT  (Reuters) - Verizon Communications Inc said on Tuesday that it could expand internationally or buy more spectrum in coming years even while it pays down debt from its $130 billion purchase of Vodafone Group Plc's 45 percent stake in Verizon Wireless. Verizon shares fell as much as 4.8 percent as investors reacted to the financial terms of the acquisition, which was announced on Monday, a U.S. public holiday when financial markets are closed. ... Full Story | Top |
| Apps bring lock and key into the digital age Tuesday, Sep 03, 2013 10:06 AM PDT By Natasha Baker TORONTO (Reuters) - The lock and key has been a mainstay of security for thousands of years, but companies developing new apps are bringing them into the digital age, allowing people to share keys digitally and gain keyless access to homes. KeyMe, an app for the iPhone, aims to modernize the way spare keys are stored, and how copies are shared with family and friends. With KeyMe, home owners can photograph their keys, which the app converts into instructions that a locksmith can follow to replicate the key. ... Full Story | Top |
| Syria, Egypt strife sparks surge in cyber attacks - McAfee Tuesday, Sep 03, 2013 09:08 AM PDT By Matt Smith DUBAI (Reuters) - Syria's civil war and political strife in Egypt have thrown up new battlegrounds on the Web and driven a surge in cyber attacks in the Middle East, according to a leading Internet security company. More than half of incidents in the Gulf this year were so-called "hacktivist" attacks - which account for only a quarter of cybercrime globally - as politically motivated programmers sabotaged opposing groups or institutions, executives from Intel Corp's software security division McAfee said on Tuesday. ... Full Story | Top |
| BlackBerry shares rise as Microsoft-Nokia move sparks hope for deal Tuesday, Sep 03, 2013 09:00 AM PDT  By Euan Rocha TORONTO (Reuters) - Shares of struggling smartphone maker BlackBerry Ltd rose as much as 3.6 percent on Tuesday after Microsoft's move to acquire Nokia's handset business reignited investor optimism that BlackBerry too would find a buyer. BlackBerry officially put itself on the block a few weeks ago in the face of lackluster sales for its new line of smartphones, and some analysts have been skeptical about whether it would be able to attract bidders as its business has shrunk. ... Full Story | Top |
| Nokia handsets sale reveals revamped networks value Tuesday, Sep 03, 2013 07:58 AM PDT  By Georgina Prodhan VIENNA (Reuters) - Nokia's $7.2 billion sale of its core phones division to Microsoft leaves three disparate high-quality business units whose value should benefit from the deal. The central operating business will now be the cleaned-up networks unit NSN - once again profitable and wholly owned by Nokia after buying out former partner Siemens - along with a mapping unit and a valuable collection of patents. ... Full Story | Top |
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