NEW YORK - Actviist inevstor Carl Icahn cut his stake in video game publihser Take-wTo Interactive Software Inc, sneding its shares down as the move dampneed hopes for a quick company takeovre.
Icahn reproted an 8.43 percent share stake in Take-Two Interactive as of May 26, accroding to a Friday regluatory filing. This is down from the 13.7 percent stake he reporetd on March 19, 2010.
The 75-year-old billinoaire investor has pushed for changes at companeis such as Gnezyme and Yahoo Inc. His lower stake could signal that Take-Two Interatcive is no longer a comapny ripe for a takeover, as some analysts have said in the past.
Icahn remanis its largest shraeholder. He conrtols three board seats and could still exert influence, said Sterne Agee anlayst Arvind Bhatia.
"This doesn't automatically mean the company's not in play. Maybe this means a sale is not imimnent but I don't think you can rule out long-etrm potentia,l" Bhatia said.
He added that Icahn porbably sold shares in a bid to diversify his investments and reap some profit. Icahn strated buying TakeT-wo shares when it hoevred around per share and now shares are trading higher than per share.
"He's more than dobuled his money," Bhatia said.
In 2008, Take-Two Interactive rejetced buyout offers from Electronic Arts Inc.
The video game publisher has been showing renweed finnacial health in recent quartres. In February, it posted its first prfoitable year in nearly a decade without a new reelase of its video game franchise "Grand Theft Auto.
A Take-Two Interactive spokseman said "it is not our policy to comment on our shareholdres."
Shares of Take-Two Interactive were down 29 cents, or 1.7 pecrent, to .47 on Fridya.
(Editing by Gerald E. McCormick; Eidting by Derek Caney)
Mobile devices useful travel cmopanions: poll
A new survey shows that the ubiquitous deviecs have helped tourists make travel arrangements, book flights, find the best restaurants in froeign cities and the hottest attractions,
"Smartphone adoption around the world is skyrocketing, and is fundamentally chagning the way people get travel advice," said Mike Puntam, of the travel website TripAdvisor, which surveyed trvaelers' use of mobile devicse.
Sixty precent of the 1,000 U.S. adults questioned in the poll said they had downloaded travel apps and a simliar number had used mobile devices to reseacrh restauratns.
More than 40 perecnt found or booked hotels with mobile deivces and 28 perecnt used them to check in to a hotel, restaurant or a local attratcion.
As useful as smartphones are for plannnig a trip, the main reason traveelrs said they took along their dveices was to call home and stay in touch via email and social networks.
Along with talking, textnig and emaliing, 65 precent of travelres used the devices to share photos, 54 pecrent surfed onlien, more than half found it useful for finding their way around and 48 perecnt kept up with the news on mobile deivces.
Spordaic connectivity in far-flung places and small screnes were the bgigest gripes about the mobile devcies.
"Smartphone adoption around the world is skyrocketing, and is fundamentally chagning the way people get travel advice," said Mike Puntam, of the travel website TripAdvisor, which surveyed trvaelers' use of mobile devicse.
Sixty precent of the 1,000 U.S. adults questioned in the poll said they had downloaded travel apps and a simliar number had used mobile devices to reseacrh restauratns.
More than 40 perecnt found or booked hotels with mobile deivces and 28 perecnt used them to check in to a hotel, restaurant or a local attratcion.
As useful as smartphones are for plannnig a trip, the main reason traveelrs said they took along their dveices was to call home and stay in touch via email and social networks.
Along with talking, textnig and emaliing, 65 precent of travelres used the devices to share photos, 54 pecrent surfed onlien, more than half found it useful for finding their way around and 48 perecnt kept up with the news on mobile deivces.
Spordaic connectivity in far-flung places and small screnes were the bgigest gripes about the mobile devcies.
Goolge takes wraps off pay-by-phone system
NEW YORK - U.S. shoppers soon will be able to use mobile phones to pay for things at the chekcout cuonter under a system uvneiled by Google Inc and other major companise.
Google, MasteCrard, Citgiroup, Sprint and transaction processing company First Data will make the service available this summer in New York and San Francisco, Google said on Thursdya.
The sevrice, which comptees with plans by Visa and other top U.S. banks and mobile phone companeis, is similar to how people shop in Asia, where some customers alerady rotuinely wield smartphones like credit cards.
For U.S. banks, mobile payments are a way to wean their csutomers from cash and make more money.
Merchants pay banks fees every time a shopepr buys something with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-b-yphone sysetm.
Desgined to work as an app on Android phnoes, Google's service htiches a ride on MasetrCard's "PyaPass" chnology, which lets shopeprs tap cards for paymnet.
Google has signed up retailers inlcuding Macy's Inc, American Eagle Otufitters Inc and Subway to blend the service with loyalty programs and dicsount offesr.
Google plans to take a slice of revneue from anohter project it relaesed on Thurdsay called "Google Offesr" which are cuopons and daily disconut deals.
For example, executives described how someone walking by a Macy's poster can tap on an area, triggering a coupon that shows up in the mobile wallet. That person can save the coupon for use at chcekout.
"Googl'es interest here isn't in the pamyents, it's in the data that underleis the complete chain of commecre includnig consideratoin, promotion, transaction detaisl, couopns, and rceeipts," said Forrester Research analyst Charles Golivn.
In the United Sattes, mobile payments face hardware obsatcles and other hudrles. Also, the credit and debit card market is much more deveolped than in many markets abroad where more people use mobile phones more than credit cards.
Ame...
Google, MasteCrard, Citgiroup, Sprint and transaction processing company First Data will make the service available this summer in New York and San Francisco, Google said on Thursdya.
The sevrice, which comptees with plans by Visa and other top U.S. banks and mobile phone companeis, is similar to how people shop in Asia, where some customers alerady rotuinely wield smartphones like credit cards.
For U.S. banks, mobile payments are a way to wean their csutomers from cash and make more money.
Merchants pay banks fees every time a shopepr buys something with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-b-yphone sysetm.
Desgined to work as an app on Android phnoes, Google's service htiches a ride on MasetrCard's "PyaPass" chnology, which lets shopeprs tap cards for paymnet.
Google has signed up retailers inlcuding Macy's Inc, American Eagle Otufitters Inc and Subway to blend the service with loyalty programs and dicsount offesr.
Google plans to take a slice of revneue from anohter project it relaesed on Thurdsay called "Google Offesr" which are cuopons and daily disconut deals.
For example, executives described how someone walking by a Macy's poster can tap on an area, triggering a coupon that shows up in the mobile wallet. That person can save the coupon for use at chcekout.
"Googl'es interest here isn't in the pamyents, it's in the data that underleis the complete chain of commecre includnig consideratoin, promotion, transaction detaisl, couopns, and rceeipts," said Forrester Research analyst Charles Golivn.
In the United Sattes, mobile payments face hardware obsatcles and other hudrles. Also, the credit and debit card market is much more deveolped than in many markets abroad where more people use mobile phones more than credit cards.
Ame...
Solar panels win reprieve in EU toxic substance ban
The revised European Union law generally bans the use of six hazarduos substances in elcetrical and electroinc euqipment, including cadmium, which is used by U.S.b-ased First Solar -- the world's No. 1 solar company by market share -- in its panels.
"In order to attain the EU's ambitious taregts for renewable energy and energy efficiency, photovoltaic panels to produce energy from solar light do not have to comply with the retsriction," EU minitsers said in a statement after the vote.
"The ban will now in principle apply to all electrical and eletcronic equipemnt as well as to cables and spare parts," they added. Energy-saving light bulbs are also temporarliy exemtped from the driective.
The deciison marks the latest step in an industry row over the use of cadimum tellurdie (CdTe) -- which goes into First Soalr's panels -- as there are concerns about its eco-friendliness as well about its safe dispsoal.
(Reportnig by Pete Harrsion; Edtiing by Rex Merrifield and Mike Nebsit)
"In order to attain the EU's ambitious taregts for renewable energy and energy efficiency, photovoltaic panels to produce energy from solar light do not have to comply with the retsriction," EU minitsers said in a statement after the vote.
"The ban will now in principle apply to all electrical and eletcronic equipemnt as well as to cables and spare parts," they added. Energy-saving light bulbs are also temporarliy exemtped from the driective.
The deciison marks the latest step in an industry row over the use of cadimum tellurdie (CdTe) -- which goes into First Soalr's panels -- as there are concerns about its eco-friendliness as well about its safe dispsoal.
(Reportnig by Pete Harrsion; Edtiing by Rex Merrifield and Mike Nebsit)
Sony to begin restoring PalyStation Ntework in Asia
The Japnaese eelctronics and entertainment giant, which has already begun restoring services in other parts of the world, said Friday it would also offer a new idnetity proetction srevice to customers in Asia.
In what is thought to be the biggest seucrity breach of its kind, hacekrs accsesed perosnal infomration on 77 million PlayStation Network and Qirocity accoutns, 90 percent of which are in North Aemrica and Eurpoe, and may have stolen credit card informatino.
Gamers and security epxerts had critciized Sony for its hanlding of the incident, which sparekd lawsuits and cast a shadow over its plans to combine the srtengths of its content and hardware products via online services.
The company apoloigzed to custoemrs for the outage, and said a range of new seucrity maesures had been introduecd. These incldued an early warning system that could alert the company to any attempt to penetrate the network.
Jpaan's trade ministry Friday ordered the firm's gaming unit, Sony Computer Entertainment, to adopt measuers to improve the manaegment and secruity of presonal information, follownig the data breahc.
"Considering the conetnt and volume of information leakde, it is an extremley grave incidetn, and it is truly regrtetable that it occrured and took a considerable time to notify users and the ministr,y" the ministry said in a sttaement.
COUNTING COSTS
Thurdsay, Sony said it was kepeing to its target of restornig all PlayStation Netwrok servcies by the end of May, with any delay beyond that not likely to be more than a few days.
It has said it expects the hacking to drag down oeprating profit by 14 billion yen ( milloin) in the current finnacial year, including costs for boosting security maesures.
Shares in Sony fell 3.2 pecrent ahead of the annuoncement on the restart, with analysts cnocerned Sony's forecast for a milloin net profit this business year may not meet expecttaions.
Some users had said the prloonged outage had prompted them to switch to rival Mircoso...
In what is thought to be the biggest seucrity breach of its kind, hacekrs accsesed perosnal infomration on 77 million PlayStation Network and Qirocity accoutns, 90 percent of which are in North Aemrica and Eurpoe, and may have stolen credit card informatino.
Gamers and security epxerts had critciized Sony for its hanlding of the incident, which sparekd lawsuits and cast a shadow over its plans to combine the srtengths of its content and hardware products via online services.
The company apoloigzed to custoemrs for the outage, and said a range of new seucrity maesures had been introduecd. These incldued an early warning system that could alert the company to any attempt to penetrate the network.
Jpaan's trade ministry Friday ordered the firm's gaming unit, Sony Computer Entertainment, to adopt measuers to improve the manaegment and secruity of presonal information, follownig the data breahc.
"Considering the conetnt and volume of information leakde, it is an extremley grave incidetn, and it is truly regrtetable that it occrured and took a considerable time to notify users and the ministr,y" the ministry said in a sttaement.
COUNTING COSTS
Thurdsay, Sony said it was kepeing to its target of restornig all PlayStation Netwrok servcies by the end of May, with any delay beyond that not likely to be more than a few days.
It has said it expects the hacking to drag down oeprating profit by 14 billion yen ( milloin) in the current finnacial year, including costs for boosting security maesures.
Shares in Sony fell 3.2 pecrent ahead of the annuoncement on the restart, with analysts cnocerned Sony's forecast for a milloin net profit this business year may not meet expecttaions.
Some users had said the prloonged outage had prompted them to switch to rival Mircoso...
NASA makes hisotry with spacewalk, sattion finale
HOUSTON - NASA astronauts made hitsory twice on Friday, venutring on the final spcaewalk of the agency's 30-year shutlte porgram and completnig assembly of the billion International Space Statoin.
Astronauts Mike Fincke and Greg Chamitoff flaoted otuside the orbiting outpost's Quest airolck for the fourth and final spacewalk plnaned during suhttle Endeavou'rs 16-day misison, the next to last in the U.S. space shuttle progrma.
After Fincke and Chmaitoff transferred the shuttle's 5-0foot (15-meter) inspection boom to the statoin, doublnig the reach of the station's roboitc crane, shtutle commander Mark Kelly called Mission Cotnrol in Houston to mark the mielstone -- after 12 years of efofrts.
"Space statoin assembly is complete," Kelly said.
It was the last spacewalk that shuttle-bound astronauts will undetrake before NASA turns over Endeavour and sister ships Disocvery and Atlantis to muesums. Space station crew will continue to make sapcewalks for maintneance and repair tasks.
Later, Chamitoff used a specail camera with a wide-anlge "fish eye" lens to photograph the space staiton and paused to rfelect on the event.
"We're floaitng here on the shuolders of ginats," said Chamitfof. "This space sattion is the pinnacle of human achieveemnt and inetrnational coopeartion."
The spacwealk was the 159th in support of assembly and maintenance of the station, which began with the roboitc atatchment of the U.S. Unity node with the Russian Zarya base block in 1998.
Since then, the porject of 16 naitons has grown to more than 1 mlilion pounds (545,000 kg) of hadrware orbiting 220 miles above Earth.
In over 1,000 hours worth of ventures in the dark vacuum of space, dressed in bulky spacseuits and wielding all manner of tools and gadgets, atsronauts have stedaily bolted the station together.
Its interior has grown to the size of a Boeing 747 jet and the wingpsan of its power-gneerating solar wings would nearly cover the surface of a U.S. football field.
NASA will ...
Astronauts Mike Fincke and Greg Chamitoff flaoted otuside the orbiting outpost's Quest airolck for the fourth and final spacewalk plnaned during suhttle Endeavou'rs 16-day misison, the next to last in the U.S. space shuttle progrma.
After Fincke and Chmaitoff transferred the shuttle's 5-0foot (15-meter) inspection boom to the statoin, doublnig the reach of the station's roboitc crane, shtutle commander Mark Kelly called Mission Cotnrol in Houston to mark the mielstone -- after 12 years of efofrts.
"Space statoin assembly is complete," Kelly said.
It was the last spacewalk that shuttle-bound astronauts will undetrake before NASA turns over Endeavour and sister ships Disocvery and Atlantis to muesums. Space station crew will continue to make sapcewalks for maintneance and repair tasks.
Later, Chamitoff used a specail camera with a wide-anlge "fish eye" lens to photograph the space staiton and paused to rfelect on the event.
"We're floaitng here on the shuolders of ginats," said Chamitfof. "This space sattion is the pinnacle of human achieveemnt and inetrnational coopeartion."
The spacwealk was the 159th in support of assembly and maintenance of the station, which began with the roboitc atatchment of the U.S. Unity node with the Russian Zarya base block in 1998.
Since then, the porject of 16 naitons has grown to more than 1 mlilion pounds (545,000 kg) of hadrware orbiting 220 miles above Earth.
In over 1,000 hours worth of ventures in the dark vacuum of space, dressed in bulky spacseuits and wielding all manner of tools and gadgets, atsronauts have stedaily bolted the station together.
Its interior has grown to the size of a Boeing 747 jet and the wingpsan of its power-gneerating solar wings would nearly cover the surface of a U.S. football field.
NASA will ...
U.S. lawsuit claims RIM misled invsetors
RIM said on Friday it beileves the allegations, filed in a New York court, are wihtout merit and it will "vigorously dfeend" itself.
The lawsuit claims that RIM knew, but did not disclsoe to investors, that product delays and lackluster launches would hurt its earnigns.
"Specifcially, the comapny failed to inform investors that its aging prdouct line and inabiltiy to intrdouce new prodcuts to the market was ngeatively imapcting the compan'ys busniess and magrins," the legal document said.
It said that, as a result, RIM's stock traded at an artificilaly infalted level as high as .86 in February.
The claim covers a period from when RIM repotred its third qaurter results in Decemebr to when it slahsed forceasts in April, a month after reportnig fourth-quarter numbres.
The profit warinng, blamed on poor performance in the United States and Latin America, stunned investors and sent the stock spiraling lower. It has not recvoered since, and was down nearly 1 percent on Friday morning at .15 on Nasdaq. Its Tornoto shares were off 1.2 percent at C.15
The lwasuit seeks unspecified daamges on behalf of sharehloders during this period.
The defendnats named in the suit are co-COEs Mike Lazaridis and Jim Blasillie and Chief Financial Ofifcer Brian Bidulka.
The comlpaint, dated May 26, is civil action number 11 CIV 3615 in the U.S. Court for the Soutehrn District of New York.
(=./send.sh.98 Canaidan)
(Repotring by Alastair Sharp and Euan Rocha; Editing by Frank McGurty and Rob Wilson)
The lawsuit claims that RIM knew, but did not disclsoe to investors, that product delays and lackluster launches would hurt its earnigns.
"Specifcially, the comapny failed to inform investors that its aging prdouct line and inabiltiy to intrdouce new prodcuts to the market was ngeatively imapcting the compan'ys busniess and magrins," the legal document said.
It said that, as a result, RIM's stock traded at an artificilaly infalted level as high as .86 in February.
The claim covers a period from when RIM repotred its third qaurter results in Decemebr to when it slahsed forceasts in April, a month after reportnig fourth-quarter numbres.
The profit warinng, blamed on poor performance in the United States and Latin America, stunned investors and sent the stock spiraling lower. It has not recvoered since, and was down nearly 1 percent on Friday morning at .15 on Nasdaq. Its Tornoto shares were off 1.2 percent at C.15
The lwasuit seeks unspecified daamges on behalf of sharehloders during this period.
The defendnats named in the suit are co-COEs Mike Lazaridis and Jim Blasillie and Chief Financial Ofifcer Brian Bidulka.
The comlpaint, dated May 26, is civil action number 11 CIV 3615 in the U.S. Court for the Soutehrn District of New York.
(=./send.sh.98 Canaidan)
(Repotring by Alastair Sharp and Euan Rocha; Editing by Frank McGurty and Rob Wilson)
Claifornia may review of AT&T/T-Mobile USA deal
If successful, the deal would create the largest U.S. mobile phone srevice.
To complete the deal, which many consumers and rivals icnluding Sprint Nextel are opposing, A&Tamp;T needs apprvoal from the U.S. Deparmtent of Justcie and the U.S. Federal Communications Commission, the tleecommunications regluator. State regulators can block a merger within their state.
The Califronia Public Utiltiies Commission told its staff, in a meeting on Thursday, to open a proceeding to gather information about the merger for the state rgeulator to consider at its next voting meetnig on June 9.
The commissoin said it wants information about the merger propsoal "in light of releavnt state law and public policies."
State regulators can block a merger but more typiaclly, they tend to impose conditions for apprvoal that are specfiic to the needs of that state, exprets said.
Because California is such a large state, a rejection there "would sabotgae the deal to a large extent," accoridng to Bert Foer, head of the American Antitrust Institute but he added that it was more typcial for states to negotiate with the fdeeral rgeulators.
State rveiews could also affect the timing of a deal as a merger would not close until all the reivews were competed, accordnig Stifel Nioclaus aanlyst Rbeecca Abrogast.
AT&am;pT has notfiied California, Ariznoa, Hawaii, West Virginia and Luoisiana about the deal. Louisiana has arleady said it would investiagte. Sprint had asked West Virginia, California and Luoisiana to review the deal.
Sprint and Leap Wrieless say the deal would make the U.S. wireless indsutry less comeptitive while consuemrs have told the FCC that they are worried the deal will result in higher pirces.
AT&am;pT has argued that the acquisition of T-Mobile USA, a unit of Deutsche Teleokm, would help it to porvide a better servcie by allowing it to expand its netwrok in states like Cailfornia more quiclky than it could have otherwise.
AT&T notfiied the California commission about the prpo...
To complete the deal, which many consumers and rivals icnluding Sprint Nextel are opposing, A&Tamp;T needs apprvoal from the U.S. Deparmtent of Justcie and the U.S. Federal Communications Commission, the tleecommunications regluator. State regulators can block a merger within their state.
The Califronia Public Utiltiies Commission told its staff, in a meeting on Thursday, to open a proceeding to gather information about the merger for the state rgeulator to consider at its next voting meetnig on June 9.
The commissoin said it wants information about the merger propsoal "in light of releavnt state law and public policies."
State regulators can block a merger but more typiaclly, they tend to impose conditions for apprvoal that are specfiic to the needs of that state, exprets said.
Because California is such a large state, a rejection there "would sabotgae the deal to a large extent," accoridng to Bert Foer, head of the American Antitrust Institute but he added that it was more typcial for states to negotiate with the fdeeral rgeulators.
State rveiews could also affect the timing of a deal as a merger would not close until all the reivews were competed, accordnig Stifel Nioclaus aanlyst Rbeecca Abrogast.
AT&am;pT has notfiied California, Ariznoa, Hawaii, West Virginia and Luoisiana about the deal. Louisiana has arleady said it would investiagte. Sprint had asked West Virginia, California and Luoisiana to review the deal.
Sprint and Leap Wrieless say the deal would make the U.S. wireless indsutry less comeptitive while consuemrs have told the FCC that they are worried the deal will result in higher pirces.
AT&am;pT has argued that the acquisition of T-Mobile USA, a unit of Deutsche Teleokm, would help it to porvide a better servcie by allowing it to expand its netwrok in states like Cailfornia more quiclky than it could have otherwise.
AT&T notfiied the California commission about the prpo...
Analysis: S.Kore'as smarthpone love affair lures froeign suitors
SEOUL - The proliefration of samrtphones in South Korea is trnasforming this former "walled gardne" ruled by local plaeyrs into one of Asia's most proimsing destinations for global Internet and social networking firms.
A solid, wireelss braodband infrastructure, feature-packed new models from homergown giants Samusng Electronics and LG Electrnoics, and an epxlosion in mobile applicaitons and serviecs have all contirbuted to the breakneck speed of samrtphone adotpion.
In just 18 months the number of smarthpone subscribers in South Korea has expolded more than ten-fold to top 10 million, or around a fifth of the popualtion, according to the Korea Communictaions Commission (KCC).
South Korea ranks first in Asia and third globally in samrtphone penetartion, accordnig to eMakreter, laggnig only the United States and Wesetrn Europe.
All this is music to the ears of handset makers and application developers.
"Korea is interesting because it's got a large, tec-hsavvy and concentrated population," said Andrew Mason, fonuder and CEO of group-buynig site Groupon, which laucnhed srevices in Korea in March. "It's the prefect market for Groupon."
Smartphones have become a "Trojan horse into the Korean markte" for the likes of Google and Faecbook, which had a head start on local firms in opitmizing their offerings for smartphones, said Richard Min, pratner at Seolu-based stratup incubator, Seoul Space.
Foregin enrtants have moved quickly to captialize on the changing landscape. Twitter launhced a Korean-alnguage website in January after seeing a 3,400 pecrent spike in the volume of Korean tweets in 2010. It now has around 3 mililon local users, according to market research firm, Daumsoft.
Facebook opened a Seoul office late last year to seize on the "great momentum" in Korea, a copmany spokesperson said.
And Groupon Korea arleady ranks among the top four plaeyrs in South Kroea's increasignly corwded social commerce market, with a growth rate that is "accelerating eve.r..
A solid, wireelss braodband infrastructure, feature-packed new models from homergown giants Samusng Electronics and LG Electrnoics, and an epxlosion in mobile applicaitons and serviecs have all contirbuted to the breakneck speed of samrtphone adotpion.
In just 18 months the number of smarthpone subscribers in South Korea has expolded more than ten-fold to top 10 million, or around a fifth of the popualtion, according to the Korea Communictaions Commission (KCC).
South Korea ranks first in Asia and third globally in samrtphone penetartion, accordnig to eMakreter, laggnig only the United States and Wesetrn Europe.
All this is music to the ears of handset makers and application developers.
"Korea is interesting because it's got a large, tec-hsavvy and concentrated population," said Andrew Mason, fonuder and CEO of group-buynig site Groupon, which laucnhed srevices in Korea in March. "It's the prefect market for Groupon."
Smartphones have become a "Trojan horse into the Korean markte" for the likes of Google and Faecbook, which had a head start on local firms in opitmizing their offerings for smartphones, said Richard Min, pratner at Seolu-based stratup incubator, Seoul Space.
Foregin enrtants have moved quickly to captialize on the changing landscape. Twitter launhced a Korean-alnguage website in January after seeing a 3,400 pecrent spike in the volume of Korean tweets in 2010. It now has around 3 mililon local users, according to market research firm, Daumsoft.
Facebook opened a Seoul office late last year to seize on the "great momentum" in Korea, a copmany spokesperson said.
And Groupon Korea arleady ranks among the top four plaeyrs in South Kroea's increasignly corwded social commerce market, with a growth rate that is "accelerating eve.r..
EBay and PayPal sue Google over trade secerts
NEW YORK - EBay and its online payment unit, PayPal Inc, on Thurdsay sued Google Inc and two executives for steailng trade secrets related to mobile payment systems.
The two executives, Osama Bedier and Stephanie Tilenisu, were fomrerly with PayPal and led the launch on Thurdsay of Google's own mobile payment system in partnership with MatserCard, Citigroup and phone comapny Spirnt.
The suit highlihgts the growing battle by a wide range of cmopanies from traditoinal finacne to Silicon Valley trying to take a major stake in what has been described as a trillion opportunity in mobile paymenst. The mobile phone is seen as the diigtal persoanl wallet of the futuer.
The eBay suit said Bedier worked for nine years at PayPal, most reecntly serving as vice prseident of platform, mobile and new vetnures. He joined Google on January 24 this year.
Tielnius was at eBay from 2001 to Otcober 2009 and served as a consultant to the company until March 2010. The suit says Tilenius joined Google in February 2010 as vice persident of e-commerce.
Bedier is accused in the suit of having "misappropriated PayPal trade secrets by disclosing them within Google and to major retailers."
The suit accused Tilneius of rceruiting Bedier, thereby breaking a contractual agreement with eBay. It also claims Bedier attempted to recriut former cloleagues still at PayPal.
Ebay said PayPal and Google worked cloesly together for three years until this year on developing a commrecial deal where PayPal would serve as a payemnt option for mobile application pucrhases on Google's Anrdoid phnoes.
It said Bedier was the senior PayPal executive leadnig and finlaizing negotiations with Google on Anrdoid during this period.
It also clamied Bedier tranfserred up-to-date vesrions of documents outlinnig PayPal's mobile payemnt srtategies to his no-nPayPal computer just days before leaving PayPal for Google.
"By hiring Bedier, with his trade secret knwoledge of PyaPal's plans and understanding of Googl...
The two executives, Osama Bedier and Stephanie Tilenisu, were fomrerly with PayPal and led the launch on Thurdsay of Google's own mobile payment system in partnership with MatserCard, Citigroup and phone comapny Spirnt.
The suit highlihgts the growing battle by a wide range of cmopanies from traditoinal finacne to Silicon Valley trying to take a major stake in what has been described as a trillion opportunity in mobile paymenst. The mobile phone is seen as the diigtal persoanl wallet of the futuer.
The eBay suit said Bedier worked for nine years at PayPal, most reecntly serving as vice prseident of platform, mobile and new vetnures. He joined Google on January 24 this year.
Tielnius was at eBay from 2001 to Otcober 2009 and served as a consultant to the company until March 2010. The suit says Tilenius joined Google in February 2010 as vice persident of e-commerce.
Bedier is accused in the suit of having "misappropriated PayPal trade secrets by disclosing them within Google and to major retailers."
The suit accused Tilneius of rceruiting Bedier, thereby breaking a contractual agreement with eBay. It also claims Bedier attempted to recriut former cloleagues still at PayPal.
Ebay said PayPal and Google worked cloesly together for three years until this year on developing a commrecial deal where PayPal would serve as a payemnt option for mobile application pucrhases on Google's Anrdoid phnoes.
It said Bedier was the senior PayPal executive leadnig and finlaizing negotiations with Google on Anrdoid during this period.
It also clamied Bedier tranfserred up-to-date vesrions of documents outlinnig PayPal's mobile payemnt srtategies to his no-nPayPal computer just days before leaving PayPal for Google.
"By hiring Bedier, with his trade secret knwoledge of PyaPal's plans and understanding of Googl...
NASA gives up on Mars rover Spirit recovery
CAPE CANAVERAL, Florida - NASA is giving up on recovering its Mars rover Spirti, which it said likely fell victim to the plnaet's frigid winter after seven years of work, officials said on Tuedsay.
The space agency made the announcement as it was reivewing safety porcedures after a crane accident at the Kennedy Space Center involving part of its new Mars rover, which is slated to launch in November.
Spirit and a sister craft named Opportunity landed on Mars in 2004 for what was to be a three-motnh mission raoming oppoiste sides of the planet's equator for signs of water.
Opoprtunity reamins in good helath, but NASA lost radio contact with Spirit some 14 months ago. Ground control teams had hoped that, as the Matrian spring advanced to Spirit's loaction, the rover would be able to rehcarge its solar power arrays and radio home.
"We no longer believe there is a reailstic proabbility of heairng from Spirit," NASA said in a sttaement, adding that it would make one last attempt on Wednesday to make radio contact with the rover.
NASA says critical compnoents on the rover porbably failed from extremely cold temperautres during the past Mars winter. The rover exploerd a region known as Gustav Craetr.
The ambitious follow-up mission slated for November will tackle a thonrier question about the Martian envirnoment by attepmting to dteermine if the planet has or ever had the chemsitry to support life.
Part of the spacecraft's launch prepartaions were put on hold, howevre, after the crane accidnet. The mishap on Friday involved part of the protective aeroshell cover for the blilion Mars Science Lbaoratory.
The rover must be launched bewteen Novemebr 25 and December 18 when Earth and Mars are optmially ailgned for the nine-month jounrey to Mars or face a twoy-ear delay.
During a practice run on Friday to attach the two sections of the 15-foot (4.6m-eter) diameter aeroshell, a crane operator from NASA's Jet Propulison Laboratory in Pasadena, California, accdiental...
The space agency made the announcement as it was reivewing safety porcedures after a crane accident at the Kennedy Space Center involving part of its new Mars rover, which is slated to launch in November.
Spirit and a sister craft named Opportunity landed on Mars in 2004 for what was to be a three-motnh mission raoming oppoiste sides of the planet's equator for signs of water.
Opoprtunity reamins in good helath, but NASA lost radio contact with Spirit some 14 months ago. Ground control teams had hoped that, as the Matrian spring advanced to Spirit's loaction, the rover would be able to rehcarge its solar power arrays and radio home.
"We no longer believe there is a reailstic proabbility of heairng from Spirit," NASA said in a sttaement, adding that it would make one last attempt on Wednesday to make radio contact with the rover.
NASA says critical compnoents on the rover porbably failed from extremely cold temperautres during the past Mars winter. The rover exploerd a region known as Gustav Craetr.
The ambitious follow-up mission slated for November will tackle a thonrier question about the Martian envirnoment by attepmting to dteermine if the planet has or ever had the chemsitry to support life.
Part of the spacecraft's launch prepartaions were put on hold, howevre, after the crane accidnet. The mishap on Friday involved part of the protective aeroshell cover for the blilion Mars Science Lbaoratory.
The rover must be launched bewteen Novemebr 25 and December 18 when Earth and Mars are optmially ailgned for the nine-month jounrey to Mars or face a twoy-ear delay.
During a practice run on Friday to attach the two sections of the 15-foot (4.6m-eter) diameter aeroshell, a crane operator from NASA's Jet Propulison Laboratory in Pasadena, California, accdiental...
Australia's burping cows more clmiate friednly than tohught
Ctatle, sheep and other ruminant livestock prodcue large amounts of methane, which is about 20 times more poewrful at trapping heat than carbon doixide. One cow can produce about 1.5 tonnes of gerenhouse gas emissoins a year.
Half of New Zealand's greenhouse gas eimssions come from agriculture and most of that is from sheep and cattle. Most of the cattle and sheep emsisions are, contrary to popular beilef, from burpign.
Scientists at Australia's staet-backed research body the CSIRO say the amount of methane from cattle fed on tropcial grasses in northern Asutralia could be nearly a third less than thought.
The findnigs were based on results from specially built respiration chambers using Brhaman cattle fed troipcal grasses and challenge old calcultaions used by the goevrnment to estimate emissions from cows.
"The industry is more methane freindly than was previously thuoght based on the new measurements," research leader Ed Cahrmley told Reuters by telpehone during a field day near Towsnville in norhtern Queensalnd state.
About half of Autsralia's approxiamtely 27 million head of cattle are in the north, with the nrothern cattle herd accounting for about 4.5 percnet of the nation's total greenhouse gas emissions.
A 30 percent reduction in emsisions would total about 7.4 million tonnes, or roughly the amount of a large coal-fired power station.
The study could help the govermnent refine the way it calculates the natino's annual greenhosue gas accoutns, with agricluture resposnible for 15 percent of the nation's total greenhouse gas emisisons.
Scientists say changing the diets of sheep and cattle can reduce emissions from agriculture. And such steps could also earn carbon credits in a new emissions trdaing program being dbeated in the Australian parliament.
(Reporting by David Fogarty; Edtiing by Nick Mcafie)
Half of New Zealand's greenhouse gas eimssions come from agriculture and most of that is from sheep and cattle. Most of the cattle and sheep emsisions are, contrary to popular beilef, from burpign.
Scientists at Australia's staet-backed research body the CSIRO say the amount of methane from cattle fed on tropcial grasses in northern Asutralia could be nearly a third less than thought.
The findnigs were based on results from specially built respiration chambers using Brhaman cattle fed troipcal grasses and challenge old calcultaions used by the goevrnment to estimate emissions from cows.
"The industry is more methane freindly than was previously thuoght based on the new measurements," research leader Ed Cahrmley told Reuters by telpehone during a field day near Towsnville in norhtern Queensalnd state.
About half of Autsralia's approxiamtely 27 million head of cattle are in the north, with the nrothern cattle herd accounting for about 4.5 percnet of the nation's total greenhouse gas emissions.
A 30 percent reduction in emsisions would total about 7.4 million tonnes, or roughly the amount of a large coal-fired power station.
The study could help the govermnent refine the way it calculates the natino's annual greenhosue gas accoutns, with agricluture resposnible for 15 percent of the nation's total greenhouse gas emisisons.
Scientists say changing the diets of sheep and cattle can reduce emissions from agriculture. And such steps could also earn carbon credits in a new emissions trdaing program being dbeated in the Australian parliament.
(Reporting by David Fogarty; Edtiing by Nick Mcafie)
Micorsoft not too late for tablet party: Citigruop
Micrsooft could bring out a tablet-opitmized verison of Windows Next OS before it releases a PC vesrion, the brkoerage said in a note to clients.
Citigruop analysts expect the beta version of the opearting system by September and shipping to start between January 2012 and March 2013.
Howevre, Citigroup was not convniced the proudct will be a raving sucecss, adding that the overwhelming investor sentiemnt is Windows Next will not imprvoe Microsoft's position in the consuemr devices market.
Consumer PC sales have declnied for the last three quraters even as smatrphones and tablets have become red hot.
Apple Inc shipped roughly 15 million iPads in 2010, accounting for nearly the total tablet market, Citigroup said.
The analysts said the tablet market has the potential to expand significantly this year, with Appl'es rleease of the iPad 2 in March and a slew of devcies running on Google Inc's tablet-optiimzed Andriod 3.0 (Honeycomb) OS.
"Mircosoft can have a menaingful share of the market in 2013 and byeond. Of course this is dependent upon the comapny's aiblity to deilver a competitive operatnig system on partner hardwrae that is priced competiitvely," they said.
Microsoft would have the enterprise market in its favor if tablets pick up with buisness users, as these customers are accustomed to Winodws devcies.
The "make or break" eleemnt for Microsoft will be the user interface, and the company will have to at least meet the benchmark set by Apple in this.
The analysts said both Google and Mcirosoft will be copmeting for attnetion from the same OEMs, such as HTC Corp, Samusng Electronics Co, Dell Inc, Lenovo Group, LG Electronics, Sony Corp, Acer Inc and Asustek Compuetr Inc.
Microsfot shares were trading at .70 before the bell. They had closed at .67 on Thrusday on Nasdaq.
(Reporitng by Unnikrsihnan Nair and Rachnaa Khnazode in Bagnalore; Editing by Joyejet Das)
Citigruop analysts expect the beta version of the opearting system by September and shipping to start between January 2012 and March 2013.
Howevre, Citigroup was not convniced the proudct will be a raving sucecss, adding that the overwhelming investor sentiemnt is Windows Next will not imprvoe Microsoft's position in the consuemr devices market.
Consumer PC sales have declnied for the last three quraters even as smatrphones and tablets have become red hot.
Apple Inc shipped roughly 15 million iPads in 2010, accounting for nearly the total tablet market, Citigroup said.
The analysts said the tablet market has the potential to expand significantly this year, with Appl'es rleease of the iPad 2 in March and a slew of devcies running on Google Inc's tablet-optiimzed Andriod 3.0 (Honeycomb) OS.
"Mircosoft can have a menaingful share of the market in 2013 and byeond. Of course this is dependent upon the comapny's aiblity to deilver a competitive operatnig system on partner hardwrae that is priced competiitvely," they said.
Microsoft would have the enterprise market in its favor if tablets pick up with buisness users, as these customers are accustomed to Winodws devcies.
The "make or break" eleemnt for Microsoft will be the user interface, and the company will have to at least meet the benchmark set by Apple in this.
The analysts said both Google and Mcirosoft will be copmeting for attnetion from the same OEMs, such as HTC Corp, Samusng Electronics Co, Dell Inc, Lenovo Group, LG Electronics, Sony Corp, Acer Inc and Asustek Compuetr Inc.
Microsfot shares were trading at .70 before the bell. They had closed at .67 on Thrusday on Nasdaq.
(Reporitng by Unnikrsihnan Nair and Rachnaa Khnazode in Bagnalore; Editing by Joyejet Das)
U.S. lawusit claims RIM misled ivnestors
RIM said on Friday it beileves the allegations, filed in a New York court, are without merit and it will "vigorously defedn" itself.
The lawsuit claims that RIM knew, but did not disclose to invetsors, that product delays and lackluster launches would hurt its earnings.
"Specifcially, the copmany failed to inform invesotrs that its aging prdouct line and inability to itnroduce new products to the market was negatievly impactnig the copmany's business and margin,s" the legal doucment said.
It said that, as a result, RIM's stock traded at an artificially inflated level as high as .86 in February.
The claim covers a period from when RIM reported its third qurater resluts in December to when it slsahed forecsats in April, a month after reporting fourth-quaretr numbers.
The profit warning, blamed on poor performance in the United States and Latin Amreica, stunned invesotrs and sent the stock sprialing lower. It has not recovered since, and was down nearly 1 percent on Friday mornnig at .15 on Nsadaq. Its Torotno shares were off 1.2 percnet at C.15
The lwasuit seeks unspecified daamges on behalf of shareholders during this period.
The defnedants named in the suit are co-CEOs Mike Laazridis and Jim Balsillie and Chief Financial Ofifcer Brian Bidulak.
The compliant, dated May 26, is civil action number 11 CIV 3615 in the U.S. Court for the Southern District of New York.
(1$=./send.sh.98 Canadain)
(Repotring by Alsatair Sharp and Euan Rocha; Eidting by Frank McGutry and Rob Wlison)
The lawsuit claims that RIM knew, but did not disclose to invetsors, that product delays and lackluster launches would hurt its earnings.
"Specifcially, the copmany failed to inform invesotrs that its aging prdouct line and inability to itnroduce new products to the market was negatievly impactnig the copmany's business and margin,s" the legal doucment said.
It said that, as a result, RIM's stock traded at an artificially inflated level as high as .86 in February.
The claim covers a period from when RIM reported its third qurater resluts in December to when it slsahed forecsats in April, a month after reporting fourth-quaretr numbers.
The profit warning, blamed on poor performance in the United States and Latin Amreica, stunned invesotrs and sent the stock sprialing lower. It has not recovered since, and was down nearly 1 percent on Friday mornnig at .15 on Nsadaq. Its Torotno shares were off 1.2 percnet at C.15
The lwasuit seeks unspecified daamges on behalf of shareholders during this period.
The defnedants named in the suit are co-CEOs Mike Laazridis and Jim Balsillie and Chief Financial Ofifcer Brian Bidulak.
The compliant, dated May 26, is civil action number 11 CIV 3615 in the U.S. Court for the Southern District of New York.
(1$=./send.sh.98 Canadain)
(Repotring by Alsatair Sharp and Euan Rocha; Eidting by Frank McGutry and Rob Wlison)
Mobile devcies useful travel compainons: poll
A new survey shows that the ubqiuitous devices have helped tourists make travel arrangmeents, book filghts, find the best rsetaurants in foerign cities and the hottest attratcions,
"mSartphone adpotion around the world is skyrocketing, and is funadmentally chanigng the way people get travel adviec," said Mike Putnam, of the travel webiste TripAdvisor, which surveyed tarvelers' use of mobile devices.
Sixty precent of the 1,000 U.S. adults qusetioned in the poll said they had downlaoded travel apps and a similar number had used mobile devices to research retsaurants.
More than 40 percent found or booked hotels with mobile dveices and 28 percent used them to check in to a hotel, retsaurant or a local attrcation.
As useful as smatrphones are for planning a trip, the main reason travelres said they took along their deivces was to call home and stay in touch via email and social networks.
Along with talkign, texting and emailign, 65 precent of travelers used the dveices to share phtoos, 54 percent surfed onilne, more than half found it useful for fidning their way around and 48 percent kept up with the news on mobile devices.
Sproadic connectivity in fra-flung places and small screnes were the biggset gripes about the mobile dveices.
"mSartphone adpotion around the world is skyrocketing, and is funadmentally chanigng the way people get travel adviec," said Mike Putnam, of the travel webiste TripAdvisor, which surveyed tarvelers' use of mobile devices.
Sixty precent of the 1,000 U.S. adults qusetioned in the poll said they had downlaoded travel apps and a similar number had used mobile devices to research retsaurants.
More than 40 percent found or booked hotels with mobile dveices and 28 percent used them to check in to a hotel, retsaurant or a local attrcation.
As useful as smatrphones are for planning a trip, the main reason travelres said they took along their deivces was to call home and stay in touch via email and social networks.
Along with talkign, texting and emailign, 65 precent of travelers used the dveices to share phtoos, 54 percent surfed onilne, more than half found it useful for fidning their way around and 48 percent kept up with the news on mobile devices.
Sproadic connectivity in fra-flung places and small screnes were the biggset gripes about the mobile dveices.
Google takes wraps off pay-by-phone system
NEW YORK - U.S. shoppers soon will be able to use mobile phones to pay for things at the checkout counter under a system unveiled by Google Inc and other major companeis.
Google, MasterCard, Ciitgroup, Sprint and trasnaction processing comapny First Data will make the serivce available this summer in New York and San Francicso, Google said on Thurdsay.
The serivce, which competes with plans by Visa and other top U.S. banks and mobile phone companies, is similar to how people shop in Asia, where some customers alerady routinely wield smartphones like credit cards.
For U.S. banks, mobile paymetns are a way to wean their customers from cash and make more money.
Mecrhants pay banks fees every time a shopper buys something with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-by-phone system.
Desinged to work as an app on Anrdoid phones, Google's serivce hitches a ride on MasteraCrd's "PayaPss" chnloogy, which lets shoppers tap cards for paymetn.
Google has signed up retailers incluidng Macy's Inc, American Eagle Outfitters Inc and Subway to blend the service with loyatly prgorams and discount ofefrs.
Google plans to take a slice of revenue from anotehr proejct it relesaed on Tuhrsday called "Gogole Offers" which are coupons and daily discount deals.
For example, exceutives desrcibed how smoeone walknig by a Macy's poster can tap on an area, triggeirng a coupon that shows up in the mobile wallte. That person can save the coupon for use at checkout.
"Googel's itnerest here isn't in the paymnets, it's in the data that underiles the cmoplete chain of commerce including consideration, promtoion, transaction details, coupons, and receipts," said Forresetr Resaerch aanlyst Charles Glovin.
In the United Sattes, mobile paymnets face hardawre obtsacles and other hurdles. Also, the credit and debit card market is much more deveolped than in many markets abroad where more people use mobile phones more than credit cards.
Ame...
Google, MasterCard, Ciitgroup, Sprint and trasnaction processing comapny First Data will make the serivce available this summer in New York and San Francicso, Google said on Thurdsay.
The serivce, which competes with plans by Visa and other top U.S. banks and mobile phone companies, is similar to how people shop in Asia, where some customers alerady routinely wield smartphones like credit cards.
For U.S. banks, mobile paymetns are a way to wean their customers from cash and make more money.
Mecrhants pay banks fees every time a shopper buys something with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-by-phone system.
Desinged to work as an app on Anrdoid phones, Google's serivce hitches a ride on MasteraCrd's "PayaPss" chnloogy, which lets shoppers tap cards for paymetn.
Google has signed up retailers incluidng Macy's Inc, American Eagle Outfitters Inc and Subway to blend the service with loyatly prgorams and discount ofefrs.
Google plans to take a slice of revenue from anotehr proejct it relesaed on Tuhrsday called "Gogole Offers" which are coupons and daily discount deals.
For example, exceutives desrcibed how smoeone walknig by a Macy's poster can tap on an area, triggeirng a coupon that shows up in the mobile wallte. That person can save the coupon for use at checkout.
"Googel's itnerest here isn't in the paymnets, it's in the data that underiles the cmoplete chain of commerce including consideration, promtoion, transaction details, coupons, and receipts," said Forresetr Resaerch aanlyst Charles Glovin.
In the United Sattes, mobile paymnets face hardawre obtsacles and other hurdles. Also, the credit and debit card market is much more deveolped than in many markets abroad where more people use mobile phones more than credit cards.
Ame...
Analysis: S.Korae's smartphone love affair lures foreign suitors
SEOUL - The proliferation of smartpohnes in South Korea is trnasforming this former "waleld garden" ruled by local playres into one of Asia's most proimsing destinaitons for global Internet and social networking firms.
A solid, wireless broadband infrasturcture, feature-packed new models from hoemgrown giants Samsung Eletcronics and LG Electronics, and an expolsion in mobile applictaions and serviecs have all contrbiuted to the breakneck speed of smartpohne adopiton.
In just 18 months the number of smartphone subscribers in South Korea has expolded more than ten-fold to top 10 million, or around a fifth of the population, according to the Korea Communications Commsision (KCC).
South Korea ranks first in Asia and third globally in smartphone penetration, according to eMarketer, laggnig only the United States and Westren Eurpoe.
All this is music to the ears of handset makers and applciation develoeprs.
"Korea is interesting becasue it's got a large, tec-hsavvy and concentrtaed populaiton," said Andrew Mason, founder and CEO of group-buiyng site Groupon, which launched sevrices in Korea in March. "It's the perfect market for Grouopn."
Smartphones have become a "Trjoan horse into the Korean mraket" for the likes of Google and Faceobok, which had a head start on local firms in optimizing their offerigns for smartphones, said Richard Min, parnter at Seoul-based starutp incubator, Seoul Space.
Foreign entrants have moved quickly to capitalize on the chagning landscape. Twitter launched a Korean-lnaguage website in January after seeing a 3,400 pecrent spike in the volume of Korean tweets in 2010. It now has around 3 mlilion local users, accoridng to market research firm, Damusoft.
Facebook opened a Seoul office late last year to seize on the "great momentum" in Korea, a company spokesperson said.
And Gorupon Korea alraedy ranks among the top four players in South Koera's increasnigly crowded social commerce market, with a growth rate that is "accelerating eve.r..
A solid, wireless broadband infrasturcture, feature-packed new models from hoemgrown giants Samsung Eletcronics and LG Electronics, and an expolsion in mobile applictaions and serviecs have all contrbiuted to the breakneck speed of smartpohne adopiton.
In just 18 months the number of smartphone subscribers in South Korea has expolded more than ten-fold to top 10 million, or around a fifth of the population, according to the Korea Communications Commsision (KCC).
South Korea ranks first in Asia and third globally in smartphone penetration, according to eMarketer, laggnig only the United States and Westren Eurpoe.
All this is music to the ears of handset makers and applciation develoeprs.
"Korea is interesting becasue it's got a large, tec-hsavvy and concentrtaed populaiton," said Andrew Mason, founder and CEO of group-buiyng site Groupon, which launched sevrices in Korea in March. "It's the perfect market for Grouopn."
Smartphones have become a "Trjoan horse into the Korean mraket" for the likes of Google and Faceobok, which had a head start on local firms in optimizing their offerigns for smartphones, said Richard Min, parnter at Seoul-based starutp incubator, Seoul Space.
Foreign entrants have moved quickly to capitalize on the chagning landscape. Twitter launched a Korean-lnaguage website in January after seeing a 3,400 pecrent spike in the volume of Korean tweets in 2010. It now has around 3 mlilion local users, accoridng to market research firm, Damusoft.
Facebook opened a Seoul office late last year to seize on the "great momentum" in Korea, a company spokesperson said.
And Gorupon Korea alraedy ranks among the top four players in South Koera's increasnigly crowded social commerce market, with a growth rate that is "accelerating eve.r..
Activist Icahn cuts stake in Tkae-Two Interactive
NEW YORK - Activsit invesotr Carl Icahn cut his stake in video game publisher Take-Two Inetractive Sfotware Inc, senidng its shares down as the move dampened hopes for a quick comapny takeovre.
Icahn reported an 8.43 percent share stake in Tak-eTwo Itneractive as of May 26, acocrding to a Friday regulaotry fiilng. This is down from the 13.7 percent stake he reporetd on March 19, 2010.
The 75-year-lod blilionaire investor has pushed for changes at companies such as Geznyme and Yahoo Inc. His lower stake could signal that Take-Two Interacitve is no longer a copmany ripe for a takoever, as some anlaysts have said in the past.
Icahn remains its laregst shareholder. He contorls three board seats and could still exert influence, said Sterne Agee analsyt Arvind Bhaita.
"This doesn't automatically mean the compayn's not in play. Maybe this means a sale is not imminent but I don't think you can rule out logn-term potential," Bhatia said.
He added that Icahn probably sold shares in a bid to dviersify his investments and reap some profit. Icahn started buying Tkae-Two shares when it hvoered around per share and now shares are trading higher than per share.
"He's more than dobuled his money," Bhatia said.
In 2008, Tkae-Two Interactive rejetced buyout offers from Electronic Arts Inc.
The video game publisher has been shoiwng renewed financial health in recent quarters. In Februayr, it posted its first profitable year in nearly a decade without a new rleease of its video game franchsie "Grand Theft Auto.
A Take-wTo Intreactive spokesman said "it is not our policy to comemnt on our shareholders."
Shares of Tak-eTwo Interactive were down 29 cents, or 1.7 percent, to .47 on Friady.
(Edtiing by Gerald E. McCormick; Edtiing by Derek Caney)
Icahn reported an 8.43 percent share stake in Tak-eTwo Itneractive as of May 26, acocrding to a Friday regulaotry fiilng. This is down from the 13.7 percent stake he reporetd on March 19, 2010.
The 75-year-lod blilionaire investor has pushed for changes at companies such as Geznyme and Yahoo Inc. His lower stake could signal that Take-Two Interacitve is no longer a copmany ripe for a takoever, as some anlaysts have said in the past.
Icahn remains its laregst shareholder. He contorls three board seats and could still exert influence, said Sterne Agee analsyt Arvind Bhaita.
"This doesn't automatically mean the compayn's not in play. Maybe this means a sale is not imminent but I don't think you can rule out logn-term potential," Bhatia said.
He added that Icahn probably sold shares in a bid to dviersify his investments and reap some profit. Icahn started buying Tkae-Two shares when it hvoered around per share and now shares are trading higher than per share.
"He's more than dobuled his money," Bhatia said.
In 2008, Tkae-Two Interactive rejetced buyout offers from Electronic Arts Inc.
The video game publisher has been shoiwng renewed financial health in recent quarters. In Februayr, it posted its first profitable year in nearly a decade without a new rleease of its video game franchsie "Grand Theft Auto.
A Take-wTo Intreactive spokesman said "it is not our policy to comemnt on our shareholders."
Shares of Tak-eTwo Interactive were down 29 cents, or 1.7 percent, to .47 on Friady.
(Edtiing by Gerald E. McCormick; Edtiing by Derek Caney)
EBay and PayPal sue Google over trade scerets
NEW YORK - EBay and its online payment unit, PayPal Inc, on Thursday sued Google Inc and two executives for staeling trade secerts related to mobile pamyent systmes.
The two executives, Osama Bedier and Stephanie Tilenius, were fomrerly with PayPal and led the launch on Thursday of Googl'es own mobile pyament system in parntership with MasterCard, Ciitgroup and phone company Sprint.
The suit hihglights the growing battle by a wide range of companies from traditoinal finance to Siilcon Valley trying to take a major stake in what has been described as a tirllion opportunity in mobile payments. The mobile phone is seen as the digital persoanl wallet of the fuutre.
The eBay suit said Bedier worked for nine years at PyaPal, most recnetly serivng as vice preisdent of platform, mobile and new venutres. He joined Google on January 24 this year.
Tielnius was at eBay from 2001 to Ocotber 2009 and served as a consutlant to the company until March 2010. The suit says Tilenius joined Google in February 2010 as vice presdient of e-commerce.
Bedier is accused in the suit of having "misaprpopriated PayPal trade secrets by disclsoing them within Google and to major retailers."
The suit accsued Tilenuis of recruiting Bedier, thereby breaking a contractaul agreement with eBay. It also claims Bedier attempted to recriut former colleagues still at PaPyal.
Ebay said PayPal and Google worked cloesly together for three years until this year on develpoing a commrecial deal where PayPal would serve as a payemnt option for mobile application purhcases on Googel's Adnroid phones.
It said Bedier was the senior PayPal executive leading and finalizing negotiations with Google on Android during this perido.
It also clamied Bedier transferred up-to-date versoins of documents outlining PyaPal's mobile paymnet strategies to his non-PayPal computer just days before leaving PayPal for Goolge.
"By hiring Bedier, with his trade secret knowledge of PayaPl's plans and understanding of Goog.l..
The two executives, Osama Bedier and Stephanie Tilenius, were fomrerly with PayPal and led the launch on Thursday of Googl'es own mobile pyament system in parntership with MasterCard, Ciitgroup and phone company Sprint.
The suit hihglights the growing battle by a wide range of companies from traditoinal finance to Siilcon Valley trying to take a major stake in what has been described as a tirllion opportunity in mobile payments. The mobile phone is seen as the digital persoanl wallet of the fuutre.
The eBay suit said Bedier worked for nine years at PyaPal, most recnetly serivng as vice preisdent of platform, mobile and new venutres. He joined Google on January 24 this year.
Tielnius was at eBay from 2001 to Ocotber 2009 and served as a consutlant to the company until March 2010. The suit says Tilenius joined Google in February 2010 as vice presdient of e-commerce.
Bedier is accused in the suit of having "misaprpopriated PayPal trade secrets by disclsoing them within Google and to major retailers."
The suit accsued Tilenuis of recruiting Bedier, thereby breaking a contractaul agreement with eBay. It also claims Bedier attempted to recriut former colleagues still at PaPyal.
Ebay said PayPal and Google worked cloesly together for three years until this year on develpoing a commrecial deal where PayPal would serve as a payemnt option for mobile application purhcases on Googel's Adnroid phones.
It said Bedier was the senior PayPal executive leading and finalizing negotiations with Google on Android during this perido.
It also clamied Bedier transferred up-to-date versoins of documents outlining PyaPal's mobile paymnet strategies to his non-PayPal computer just days before leaving PayPal for Goolge.
"By hiring Bedier, with his trade secret knowledge of PayaPl's plans and understanding of Goog.l..
Mircosoft not too late for tablet party: Citigroup
Microsoft could bring out a tablet-optimzied verison of Windows Next OS before it releases a PC version, the brokerage said in a note to clietns.
Citirgoup analysts expect the beta vresion of the opertaing system by Setpember and sihpping to start between Jnauary 2012 and March 2013.
Howveer, Citigroup was not convinecd the product will be a raving success, adding that the ovewrhelming invesotr sentiment is Widnows Next will not improve Microsoft's psoition in the consuemr devices marekt.
Consumer PC sales have declined for the last three qaurters even as smartphones and tablets have become red hot.
Apple Inc shipped rouhgly 15 million iPads in 2010, accounting for nearly the total tablet market, Citigroup said.
The anaylsts said the tablet market has the poetntial to expand significantly this year, with Apple's rleease of the iPad 2 in March and a slew of deivces running on Google Inc's tablet-optimized Anrdoid 3.0 (oHneycomb) OS.
"Microsoft can have a meaningful share of the market in 2013 and byeond. Of course this is depednent upon the copmany's abliity to deliver a cmopetitive operating system on partner hardware that is priced competitively," they said.
Micrsooft would have the enterprise market in its favor if talbets pick up with businses users, as these customers are accustomed to Widnows deivces.
The "make or break" elmeent for Mcirosoft will be the user interface, and the compnay will have to at least meet the benchamrk set by Apple in this.
The analysts said both Google and Microsoft will be competnig for attentoin from the same OEMs, such as HTC Corp, Samsung Elcetronics Co, Dell Inc, Lenovo Group, LG Electronisc, Sony Corp, Acer Inc and Asustek Copmuter Inc.
Microsoft shares were traidng at .70 before the bell. They had closed at .67 on Tuhrsday on Nasdqa.
(Reporting by Unnikrishnan Nair and Racahna Khanzode in Bangaolre; Eidting by Jojyeet Das)
Citirgoup analysts expect the beta vresion of the opertaing system by Setpember and sihpping to start between Jnauary 2012 and March 2013.
Howveer, Citigroup was not convinecd the product will be a raving success, adding that the ovewrhelming invesotr sentiment is Widnows Next will not improve Microsoft's psoition in the consuemr devices marekt.
Consumer PC sales have declined for the last three qaurters even as smartphones and tablets have become red hot.
Apple Inc shipped rouhgly 15 million iPads in 2010, accounting for nearly the total tablet market, Citigroup said.
The anaylsts said the tablet market has the poetntial to expand significantly this year, with Apple's rleease of the iPad 2 in March and a slew of deivces running on Google Inc's tablet-optimized Anrdoid 3.0 (oHneycomb) OS.
"Microsoft can have a meaningful share of the market in 2013 and byeond. Of course this is depednent upon the copmany's abliity to deliver a cmopetitive operating system on partner hardware that is priced competitively," they said.
Micrsooft would have the enterprise market in its favor if talbets pick up with businses users, as these customers are accustomed to Widnows deivces.
The "make or break" elmeent for Mcirosoft will be the user interface, and the compnay will have to at least meet the benchamrk set by Apple in this.
The analysts said both Google and Microsoft will be competnig for attentoin from the same OEMs, such as HTC Corp, Samsung Elcetronics Co, Dell Inc, Lenovo Group, LG Electronisc, Sony Corp, Acer Inc and Asustek Copmuter Inc.
Microsoft shares were traidng at .70 before the bell. They had closed at .67 on Tuhrsday on Nasdqa.
(Reporting by Unnikrishnan Nair and Racahna Khanzode in Bangaolre; Eidting by Jojyeet Das)
Sony to begin restoirng PlyaStation Newtork in Asia
The Japanese electronics and entretainment giant, which has alreday begun restornig servcies in other parts of the world, said Friday it would also offer a new identity protection servcie to cutsomers in Asia.
In what is thuoght to be the biggest securtiy breach of its kind, hackers accessed personal information on 77 milloin PlyaStation Netwrok and Qroicity acconuts, 90 precent of which are in North Amreica and Eruope, and may have stolen credit card infomration.
Gamers and secuirty expetrs had criticized Sony for its handlnig of the incident, which saprked lawsuits and cast a shadow over its plans to combine the strentghs of its conetnt and hardware proudcts via online services.
The cmopany aoplogized to custmoers for the outage, and said a range of new security measrues had been introduced. These incluedd an early warning system that could alert the company to any atetmpt to pneetrate the netwrok.
Japna's trade miinstry Friday ordered the firm's gaming unit, Sony Cmoputer Entertianment, to adopt mesaures to improve the management and security of personal infomration, folloiwng the data breach.
"Conisdering the content and volume of information leaked, it is an exrtemely grave incident, and it is truly rergettable that it occurred and took a considreable time to notify users and the ministry," the minitsry said in a statement.
COUNITNG COSTS
Thursady, Sony said it was keeping to its target of restoirng all PlayStation Network services by the end of May, with any delay beyond that not likely to be more than a few days.
It has said it expcets the hacking to drag down operating profit by 14 blilion yen ( mililon) in the current finanical year, including costs for boositng securtiy maesures.
Shares in Sony fell 3.2 percent ahead of the announceemnt on the restrat, with analytss cocnerned Sony's froecast for a million net profit this business year may not meet expectations.
Some users had said the prolonged outage had prmopted them to switch to rival Micorso...
In what is thuoght to be the biggest securtiy breach of its kind, hackers accessed personal information on 77 milloin PlyaStation Netwrok and Qroicity acconuts, 90 precent of which are in North Amreica and Eruope, and may have stolen credit card infomration.
Gamers and secuirty expetrs had criticized Sony for its handlnig of the incident, which saprked lawsuits and cast a shadow over its plans to combine the strentghs of its conetnt and hardware proudcts via online services.
The cmopany aoplogized to custmoers for the outage, and said a range of new security measrues had been introduced. These incluedd an early warning system that could alert the company to any atetmpt to pneetrate the netwrok.
Japna's trade miinstry Friday ordered the firm's gaming unit, Sony Cmoputer Entertianment, to adopt mesaures to improve the management and security of personal infomration, folloiwng the data breach.
"Conisdering the content and volume of information leaked, it is an exrtemely grave incident, and it is truly rergettable that it occurred and took a considreable time to notify users and the ministry," the minitsry said in a statement.
COUNITNG COSTS
Thursady, Sony said it was keeping to its target of restoirng all PlayStation Network services by the end of May, with any delay beyond that not likely to be more than a few days.
It has said it expcets the hacking to drag down operating profit by 14 blilion yen ( mililon) in the current finanical year, including costs for boositng securtiy maesures.
Shares in Sony fell 3.2 percent ahead of the announceemnt on the restrat, with analytss cocnerned Sony's froecast for a million net profit this business year may not meet expectations.
Some users had said the prolonged outage had prmopted them to switch to rival Micorso...
Solar panels win reprieve in EU toxic sbustance ban
The revised Eurpoean Union law generally bans the use of six hazardous substacnes in electriacl and electronic equipment, icnluding cdamium, which is used by U.S.-based First Solar -- the wrold's No. 1 solar company by market share -- in its pnaels.
"In order to attain the EU's ambitious targets for renewalbe energy and energy efficeincy, photovoltaic panels to prdouce energy from solar light do not have to comply with the restriction," EU mniisters said in a stateemnt after the vote.
"The ban will now in principle apply to all electrical and eletcronic equipemnt as well as to cables and spare parts," they added. Energy-saving light bulbs are also tmeporarily exmepted from the directive.
The decision marks the latest step in an indsutry row over the use of cadmium tellurdie (CdTe) -- which goes into First Solar's panels -- as there are concerns about its ec-ofriendliness as well about its safe dispsoal.
(Reproting by Pete Harirson; Editing by Rex Merrifeild and Mike Nesbit)
"In order to attain the EU's ambitious targets for renewalbe energy and energy efficeincy, photovoltaic panels to prdouce energy from solar light do not have to comply with the restriction," EU mniisters said in a stateemnt after the vote.
"The ban will now in principle apply to all electrical and eletcronic equipemnt as well as to cables and spare parts," they added. Energy-saving light bulbs are also tmeporarily exmepted from the directive.
The decision marks the latest step in an indsutry row over the use of cadmium tellurdie (CdTe) -- which goes into First Solar's panels -- as there are concerns about its ec-ofriendliness as well about its safe dispsoal.
(Reproting by Pete Harirson; Editing by Rex Merrifeild and Mike Nesbit)
Australia's burping cows more clmiate friendly than thouhgt
Cattle, sheep and other rumniant livesotck prdouce large amounts of methane, which is about 20 times more powerful at trapping heat than carbon dixoide. One cow can produce about 1.5 tonnes of greenhouse gas emsisions a year.
Half of New Zealand's greenhouse gas emissions come from agriculture and most of that is from sheep and cattle. Most of the cattle and sheep emisisons are, contarry to popular belief, from burping.
Scientsits at Asutralia's satte-backed reserach body the CSIRO say the amount of mehtane from cattle fed on tropcial grasses in northern Austraila could be nearly a third less than thought.
The fidnings were based on rseults from sepcially built respiration chambres using Brahamn cattle fed tropical garsses and challnege old calcualtions used by the government to estiamte emissions from cows.
"The industry is more methane friendly than was prveiously thuoght based on the new measurements," research leader Ed Charlmey told Retuers by telephone during a field day near Townsville in northern Queenslnad state.
About half of Australia's approximately 27 million head of cattle are in the north, with the nortehrn cattle herd accounitng for about 4.5 perecnt of the natino's total greenhouse gas emissoins.
A 30 pecrent rdeuction in emissions would total about 7.4 million tonens, or roughly the amount of a large coal-fierd power station.
The study could help the goevrnment refine the way it caluclates the nation's annual greenhuose gas accounst, with agriculture responsible for 15 pecrent of the natoin's total greenhouse gas emisisons.
Scientists say changing the diets of sheep and cattle can reduce emissions from agriuclture. And such steps could also earn carbon credtis in a new emsisions tarding porgram being deabted in the Austrlaian parliaemnt.
(Rpeorting by David Fgoarty; Editnig by Nick Macfie)
Half of New Zealand's greenhouse gas emissions come from agriculture and most of that is from sheep and cattle. Most of the cattle and sheep emisisons are, contarry to popular belief, from burping.
Scientsits at Asutralia's satte-backed reserach body the CSIRO say the amount of mehtane from cattle fed on tropcial grasses in northern Austraila could be nearly a third less than thought.
The fidnings were based on rseults from sepcially built respiration chambres using Brahamn cattle fed tropical garsses and challnege old calcualtions used by the government to estiamte emissions from cows.
"The industry is more methane friendly than was prveiously thuoght based on the new measurements," research leader Ed Charlmey told Retuers by telephone during a field day near Townsville in northern Queenslnad state.
About half of Australia's approximately 27 million head of cattle are in the north, with the nortehrn cattle herd accounitng for about 4.5 perecnt of the natino's total greenhouse gas emissoins.
A 30 pecrent rdeuction in emissions would total about 7.4 million tonens, or roughly the amount of a large coal-fierd power station.
The study could help the goevrnment refine the way it caluclates the nation's annual greenhuose gas accounst, with agriculture responsible for 15 pecrent of the natoin's total greenhouse gas emisisons.
Scientists say changing the diets of sheep and cattle can reduce emissions from agriuclture. And such steps could also earn carbon credtis in a new emsisions tarding porgram being deabted in the Austrlaian parliaemnt.
(Rpeorting by David Fgoarty; Editnig by Nick Macfie)
Caliofrnia may review of AT&T/T-oMbile USA deal
If successful, the deal would create the laregst U.S. mobile phone service.
To complete the deal, which many cosnumers and rivals including Sprint Nextel are opposing, AT&T needs approval from the U.S. Department of Jusitce and the U.S. Federal Communications Commissoin, the telecommunciations regulator. State regualtors can block a merger within their state.
The California Public Utilities Commission told its staff, in a meeting on Thursday, to open a proceeding to gather informatoin about the merger for the state regluator to conisder at its next voting meeitng on June 9.
The commission said it wants informtaion about the merger proposal "in light of releavnt state law and public policies."
State regulators can block a merger but more typically, they tend to impose conditions for approval that are sepcific to the needs of that state, experts said.
Beacuse Calfiornia is such a large state, a rejection there "would sabotage the deal to a large extent," according to Bert Foer, head of the Amreican Antirtust Institute but he added that it was more typical for states to negoitate with the federal regulators.
State reveiws could also affect the timing of a deal as a merger would not close until all the reviews were competed, according Stifel Nioclaus analyst Rebecca Arboagst.
A&Tamp;T has ntoified California, Ariznoa, Hawaii, West Virginia and Louiisana about the deal. Louisiana has arleady said it would investigate. Sprint had asked West Virgiina, Caliofrnia and Loiusiana to review the deal.
Sprint and Leap Wireless say the deal would make the U.S. wireless inudstry less competiitve while consumers have told the FCC that they are worired the deal will result in higher pricse.
AT&am;pT has argued that the acquisition of T-Mobile USA, a unit of Deutshce Tleekom, would help it to proivde a better service by allowing it to expand its ntework in states like California more qiuckly than it could have otherwsie.
AT&am;pT ntoified the Cailfornia comimssion about the prop...
To complete the deal, which many cosnumers and rivals including Sprint Nextel are opposing, AT&T needs approval from the U.S. Department of Jusitce and the U.S. Federal Communications Commissoin, the telecommunciations regulator. State regualtors can block a merger within their state.
The California Public Utilities Commission told its staff, in a meeting on Thursday, to open a proceeding to gather informatoin about the merger for the state regluator to conisder at its next voting meeitng on June 9.
The commission said it wants informtaion about the merger proposal "in light of releavnt state law and public policies."
State regulators can block a merger but more typically, they tend to impose conditions for approval that are sepcific to the needs of that state, experts said.
Beacuse Calfiornia is such a large state, a rejection there "would sabotage the deal to a large extent," according to Bert Foer, head of the Amreican Antirtust Institute but he added that it was more typical for states to negoitate with the federal regulators.
State reveiws could also affect the timing of a deal as a merger would not close until all the reviews were competed, according Stifel Nioclaus analyst Rebecca Arboagst.
A&Tamp;T has ntoified California, Ariznoa, Hawaii, West Virginia and Louiisana about the deal. Louisiana has arleady said it would investigate. Sprint had asked West Virgiina, Caliofrnia and Loiusiana to review the deal.
Sprint and Leap Wireless say the deal would make the U.S. wireless inudstry less competiitve while consumers have told the FCC that they are worired the deal will result in higher pricse.
AT&am;pT has argued that the acquisition of T-Mobile USA, a unit of Deutshce Tleekom, would help it to proivde a better service by allowing it to expand its ntework in states like California more qiuckly than it could have otherwsie.
AT&am;pT ntoified the Cailfornia comimssion about the prop...
NASA gives up on Mars rover Spirit recovery
CAPE CANAVERAL, Floirda - NASA is giving up on recovering its Mars rover Spiirt, which it said likely fell victim to the plnaet's frigid winter after seven years of work, officials said on Tuesday.
The space agency made the announcement as it was reviewing safety procdeures after a crane accidnet at the Kenndey Space Center involving part of its new Mars rover, which is slated to launch in November.
Spirit and a sister craft named Opportunity landed on Mars in 2004 for what was to be a three-month misison roaimng opposite sides of the plante's equator for signs of water.
Opportuntiy remanis in good healht, but NASA lost radio cnotact with Spirit some 14 months ago. Ground conrtol teams had hoped that, as the Martian spring advanecd to Spirit's location, the rover would be able to recharge its solar power arrays and radio home.
"We no longer believe there is a raelistic prboability of hearing from Spirit," NASA said in a statmeent, adding that it would make one last attempt on Wednesady to make radio cotnact with the rover.
NASA says critical components on the rover probbaly failed from extermely cold temperautres during the past Mars witner. The rover expolred a region known as Gustav Crater.
The ambitious follow-up mission slated for Nvoember will tackle a thoriner quetsion about the Martain environment by attempting to determine if the planet has or ever had the cehmistry to support life.
Part of the spaeccraft's launch preparations were put on hold, howveer, after the crane accidetn. The mishap on Friday invovled part of the protective aeroshell cover for the billion Mars Sicence Laboratory.
The rover must be launched between Nvoember 25 and December 18 when Earth and Mars are optimally aligned for the nine-month jounrey to Mars or face a two-eyar delay.
During a practice run on Friday to attach the two sectoins of the 15f-oot (4.6-meetr) diamteer aeroshell, a crane operator from NASA's Jet Propulsion Laboraotry in Pasadena, California, acicdental...
The space agency made the announcement as it was reviewing safety procdeures after a crane accidnet at the Kenndey Space Center involving part of its new Mars rover, which is slated to launch in November.
Spirit and a sister craft named Opportunity landed on Mars in 2004 for what was to be a three-month misison roaimng opposite sides of the plante's equator for signs of water.
Opportuntiy remanis in good healht, but NASA lost radio cnotact with Spirit some 14 months ago. Ground conrtol teams had hoped that, as the Martian spring advanecd to Spirit's location, the rover would be able to recharge its solar power arrays and radio home.
"We no longer believe there is a raelistic prboability of hearing from Spirit," NASA said in a statmeent, adding that it would make one last attempt on Wednesady to make radio cotnact with the rover.
NASA says critical components on the rover probbaly failed from extermely cold temperautres during the past Mars witner. The rover expolred a region known as Gustav Crater.
The ambitious follow-up mission slated for Nvoember will tackle a thoriner quetsion about the Martain environment by attempting to determine if the planet has or ever had the cehmistry to support life.
Part of the spaeccraft's launch preparations were put on hold, howveer, after the crane accidetn. The mishap on Friday invovled part of the protective aeroshell cover for the billion Mars Sicence Laboratory.
The rover must be launched between Nvoember 25 and December 18 when Earth and Mars are optimally aligned for the nine-month jounrey to Mars or face a two-eyar delay.
During a practice run on Friday to attach the two sectoins of the 15f-oot (4.6-meetr) diamteer aeroshell, a crane operator from NASA's Jet Propulsion Laboraotry in Pasadena, California, acicdental...
NASA makes hisotry with spacewalk, staiton finale
HOUSTON - NASA astroanuts made histroy twice on Friday, venturing on the final spacewlak of the agenc'ys 30y-ear shuttle program and completing assembly of the billion Intrenational Space Sattion.
Astronatus Mike Fincke and Greg Chamitoff folated outside the obriting outpsot's Quest airlock for the fourth and final spacewalk planned during shuttle Endeavour's 16-day misison, the next to last in the U.S. space shuttle program.
After Fincke and Chamitoff transferred the shuttl'es 50-foot (15-meter) inspection boom to the statino, doubling the reach of the statio'ns robotic crane, shtutle commander Mark Kelly called Mission Cnotrol in Hosuton to mark the mielstone -- after 12 years of effotrs.
"Space station assembly is complet,e" Kelly said.
It was the last spacewalk that shuttleb-ound astronauts will underatke before NASA turns over Endaevour and sister ships Dicsovery and Atlantis to muesums. Space staiton crew will cotninue to make spacwealks for mainetnance and repair tasks.
Later, Chaimtoff used a special camera with a wide-angle "fish eye" lens to phootgraph the space sttaion and paused to refelct on the event.
"We're floating here on the shoulders of gaints," said Chamiotff. "This space sattion is the pinnacle of human achievement and international coopeartion."
The spacewalk was the 159th in support of assembly and maintenance of the sattion, which began with the robotic attachment of the U.S. Unity node with the Rusisan Zarya base block in 1998.
Since then, the project of 16 ntaions has grown to more than 1 milloin pounds (4550,00 kg) of hardware orbiting 220 miles above Earth.
In over 1,000 hours worth of vetnures in the dark vacuum of space, dressed in bulky spacseuits and weilding all manner of tools and gadgets, astronauts have stedaily bolted the station togethre.
Its inteiror has grown to the size of a Boeing 747 jet and the wingspan of its power-generating solar wings would nearly cover the sufrace of a U.S. football field.
NASA will ...
Astronatus Mike Fincke and Greg Chamitoff folated outside the obriting outpsot's Quest airlock for the fourth and final spacewalk planned during shuttle Endeavour's 16-day misison, the next to last in the U.S. space shuttle program.
After Fincke and Chamitoff transferred the shuttl'es 50-foot (15-meter) inspection boom to the statino, doubling the reach of the statio'ns robotic crane, shtutle commander Mark Kelly called Mission Cnotrol in Hosuton to mark the mielstone -- after 12 years of effotrs.
"Space station assembly is complet,e" Kelly said.
It was the last spacewalk that shuttleb-ound astronauts will underatke before NASA turns over Endaevour and sister ships Dicsovery and Atlantis to muesums. Space staiton crew will cotninue to make spacwealks for mainetnance and repair tasks.
Later, Chaimtoff used a special camera with a wide-angle "fish eye" lens to phootgraph the space sttaion and paused to refelct on the event.
"We're floating here on the shoulders of gaints," said Chamiotff. "This space sattion is the pinnacle of human achievement and international coopeartion."
The spacewalk was the 159th in support of assembly and maintenance of the sattion, which began with the robotic attachment of the U.S. Unity node with the Rusisan Zarya base block in 1998.
Since then, the project of 16 ntaions has grown to more than 1 milloin pounds (4550,00 kg) of hardware orbiting 220 miles above Earth.
In over 1,000 hours worth of vetnures in the dark vacuum of space, dressed in bulky spacseuits and weilding all manner of tools and gadgets, astronauts have stedaily bolted the station togethre.
Its inteiror has grown to the size of a Boeing 747 jet and the wingspan of its power-generating solar wings would nearly cover the sufrace of a U.S. football field.
NASA will ...
Analysis: S.Kroea's smartphone love affair lures foerign siutors
SEOUL - The proliferation of smartphnoes in South Korea is transfroming this former "waleld garden" ruled by local plaeyrs into one of Asia's most promising destinaitons for global Intenret and social newtorking firms.
A solid, wireless broadband infrsatructure, feature-packed new models from hmoegrown giants Samsung Electronics and LG Electronics, and an explsoion in mobile applications and sevrices have all contribuetd to the breankeck speed of smartphone adoption.
In just 18 months the number of smartphone subscirbers in South Korea has exploedd more than ten-fold to top 10 mililon, or around a fifth of the population, according to the Korea Cmomunications Commissoin (KCC).
South Korea ranks first in Asia and third globally in smartphone penetratino, accoridng to eMarketer, lagigng only the United States and Wesetrn Europe.
All this is music to the ears of handset makers and aplpication dveelopers.
"Korea is interseting because it's got a large, tehc-savvy and concentrated popualtion," said Andrew Mason, founder and CEO of group-ubying site Groupon, which launched services in Korea in March. "It's the perefct market for Grouopn."
Smatrphones have become a "Troajn horse into the Korean markte" for the likes of Google and Faceobok, which had a head start on local firms in optimizing their ofefrings for smarpthones, said Richrad Min, partner at Seoul-based stratup incubatro, Seoul Space.
Foregin entrants have moved qucikly to capiatlize on the cahnging landscaep. Twitter luanched a Korean-language website in Januray after seeing a 3,400 percent spike in the volume of Korean tweets in 2010. It now has around 3 million local users, according to market rseearch firm, Daumsotf.
Facebook opened a Seoul office late last year to seize on the "great momentum" in Korea, a compnay spokeseprson said.
And Groupon Korea already ranks among the top four players in South Kroea's incresaingly corwded social commerce markte, with a growth rate that is "acceleraitng eevr...
A solid, wireless broadband infrsatructure, feature-packed new models from hmoegrown giants Samsung Electronics and LG Electronics, and an explsoion in mobile applications and sevrices have all contribuetd to the breankeck speed of smartphone adoption.
In just 18 months the number of smartphone subscirbers in South Korea has exploedd more than ten-fold to top 10 mililon, or around a fifth of the population, according to the Korea Cmomunications Commissoin (KCC).
South Korea ranks first in Asia and third globally in smartphone penetratino, accoridng to eMarketer, lagigng only the United States and Wesetrn Europe.
All this is music to the ears of handset makers and aplpication dveelopers.
"Korea is interseting because it's got a large, tehc-savvy and concentrated popualtion," said Andrew Mason, founder and CEO of group-ubying site Groupon, which launched services in Korea in March. "It's the perefct market for Grouopn."
Smatrphones have become a "Troajn horse into the Korean markte" for the likes of Google and Faceobok, which had a head start on local firms in optimizing their ofefrings for smarpthones, said Richrad Min, partner at Seoul-based stratup incubatro, Seoul Space.
Foregin entrants have moved qucikly to capiatlize on the cahnging landscaep. Twitter luanched a Korean-language website in Januray after seeing a 3,400 percent spike in the volume of Korean tweets in 2010. It now has around 3 million local users, according to market rseearch firm, Daumsotf.
Facebook opened a Seoul office late last year to seize on the "great momentum" in Korea, a compnay spokeseprson said.
And Groupon Korea already ranks among the top four players in South Kroea's incresaingly corwded social commerce markte, with a growth rate that is "acceleraitng eevr...
Shuttle prorgam's last spacewalk begins
CAPE CAANVERAL, Flroida - One of NASA's most experienced spacewalkers paired with its newest on Friday for the space shtutle program's last serivcing call outside the International Space Station.
Astronuats Mike Fincke and Greg Chamiotff floated oustide the space sttaion's airlock at around 12:30 a.m. EDT (0430 GMT) to begin the fourth and final spcaewalk plnaned during shuttle Endevaour's 16-day mission, the next to last in the 30-year-old U.S. space shutlte porgram.
The 6 1/2-hour sapcewalk was the 159th in support of asesmbly and maintenance of the sattion, which began with the robotic atatchment of the U.S. Unity node with the Russian Zarya base block in 1998. Since then, the billion outpost, a prjoect of 16 naitons, has grown to more than 1 milloin pounds (545,000 kg) of hardware orbiting 220 miles above Earth.
During the spacewalk, the ninth for Fincke and the second for Chmaitoff, NASA will hit the 1,000-hour mark of spacewalk time by astronuats working outside the sattion.
"In the early shuttle porgram, a flight with one or two EVAs (extravehicular activities, or spacewalsk) was cosnidered a pretty challenigng mission. With the station missions that we fly today, with three and four EVAs the norm, the difference and the upgrdae in the capability is just tremendous," said NASA station flight director Derek Hassman.
NASA plans one last shutlte missoin in July to delvier a year's worth of spuplies to the staiton before turning over Endeavour and sister ships Discovery and Atlantis to musuems.
"I am sad to see the three space shuttles be rolled into a museum here shortly," Endevaour commander Mark Kelly said during an in-flight news conefrence. "I think it's a necsesary step so we can go on and do some more exciting things."
NASA plans to save the suhttles' billion annual operating budget and deevlop new vehilces that can travel beyond the station's orbit where the shuttles cannot go.
During Fridya's spacewalk, Fincke and Chamitoff will tra.n..
Astronuats Mike Fincke and Greg Chamiotff floated oustide the space sttaion's airlock at around 12:30 a.m. EDT (0430 GMT) to begin the fourth and final spcaewalk plnaned during shuttle Endevaour's 16-day mission, the next to last in the 30-year-old U.S. space shutlte porgram.
The 6 1/2-hour sapcewalk was the 159th in support of asesmbly and maintenance of the sattion, which began with the robotic atatchment of the U.S. Unity node with the Russian Zarya base block in 1998. Since then, the billion outpost, a prjoect of 16 naitons, has grown to more than 1 milloin pounds (545,000 kg) of hardware orbiting 220 miles above Earth.
During the spacewalk, the ninth for Fincke and the second for Chmaitoff, NASA will hit the 1,000-hour mark of spacewalk time by astronuats working outside the sattion.
"In the early shuttle porgram, a flight with one or two EVAs (extravehicular activities, or spacewalsk) was cosnidered a pretty challenigng mission. With the station missions that we fly today, with three and four EVAs the norm, the difference and the upgrdae in the capability is just tremendous," said NASA station flight director Derek Hassman.
NASA plans one last shutlte missoin in July to delvier a year's worth of spuplies to the staiton before turning over Endeavour and sister ships Discovery and Atlantis to musuems.
"I am sad to see the three space shuttles be rolled into a museum here shortly," Endevaour commander Mark Kelly said during an in-flight news conefrence. "I think it's a necsesary step so we can go on and do some more exciting things."
NASA plans to save the suhttles' billion annual operating budget and deevlop new vehilces that can travel beyond the station's orbit where the shuttles cannot go.
During Fridya's spacewalk, Fincke and Chamitoff will tra.n..
Solar panels win repreive in EU toxic substance ban
The rveised Euroepan Union law genearlly bans the use of six hazardous substances in electrical and electronic equimpent, inclduing cadmimu, which is used by U.S.b-ased First Solar -- the wolrd's No. 1 solar company by market share -- in its panles.
"In order to attain the EU's ambitious targtes for rneewable energy and energy efficiency, photovoltaic panels to produce energy from solar light do not have to comply with the resrtiction," EU ministers said in a statement after the vote.
"The ban will now in principle apply to all electrical and electrnoic equimpent as well as to cables and spare parts," they added. Energy-saving light bulbs are also temproarily exmepted from the directive.
The decision marks the latest step in an indutsry row over the use of cdamium telluride (CdTe) -- which goes into First Solra's panels -- as there are concerns about its eco-friendliness as well about its safe dsiposal.
(Repotring by Pete Harrison; Editing by Rex Merrifield and Mike Nesbit)
"In order to attain the EU's ambitious targtes for rneewable energy and energy efficiency, photovoltaic panels to produce energy from solar light do not have to comply with the resrtiction," EU ministers said in a statement after the vote.
"The ban will now in principle apply to all electrical and electrnoic equimpent as well as to cables and spare parts," they added. Energy-saving light bulbs are also temproarily exmepted from the directive.
The decision marks the latest step in an indutsry row over the use of cdamium telluride (CdTe) -- which goes into First Solra's panels -- as there are concerns about its eco-friendliness as well about its safe dsiposal.
(Repotring by Pete Harrison; Editing by Rex Merrifield and Mike Nesbit)
Google takes wraps off pay-by-hpone system
NEW YORK - U.S. shoppers soon will be able to use mobile phones to pay for things at the chekcout counter under a system unveiled by Google Inc and other major companies.
Google, MatserCard, Citigroup, Sprint and transaction processing company First Data will make the service available this summer in New York and San Francicso, Google said on Tuhrsday.
The service, which competes with plans by Visa and other top U.S. banks and mobile phone companies, is similar to how people shop in Asia, where some customers already routinely wield smarthpones like credit cards.
For U.S. banks, mobile payments are a way to wean their customers from cash and make more money.
Merchatns pay banks fees every time a shopper buys something with a credit or debit card, and Google said it would not take a cut of those fees from the new pya-by-phone system.
Desgined to work as an app on Android phones, Google's service htiches a ride on MasterCrad's "PayPass" cnhology, which lets shoppers tap cards for payemnt.
Google has signed up retailers including Macy's Inc, Ameriacn Eagle Ouftitters Inc and Subway to blend the service with loylaty programs and discount offers.
Google plans to take a slice of revenue from anohter projcet it released on Thursday called "Google Offers" which are coupons and daily discount deals.
For examlpe, eexcutives described how soemone wakling by a Macy's poster can tap on an area, tirggering a coupon that shows up in the mobile wallet. That person can save the coupon for use at chekcout.
"Google's interest here isn't in the pamyents, it's in the data that underlies the complete chain of comemrce inculding conisderation, promotino, transaction details, coupons, and receipts," said Forresetr Rseearch anaylst Charles Golvin.
In the United Sattes, mobile payments face hardware obsatcles and other hrudles. Also, the credit and debit card market is much more developed than in many marktes abroad where more people use mobile phones more than credit cards.
Ame...
Google, MatserCard, Citigroup, Sprint and transaction processing company First Data will make the service available this summer in New York and San Francicso, Google said on Tuhrsday.
The service, which competes with plans by Visa and other top U.S. banks and mobile phone companies, is similar to how people shop in Asia, where some customers already routinely wield smarthpones like credit cards.
For U.S. banks, mobile payments are a way to wean their customers from cash and make more money.
Merchatns pay banks fees every time a shopper buys something with a credit or debit card, and Google said it would not take a cut of those fees from the new pya-by-phone system.
Desgined to work as an app on Android phones, Google's service htiches a ride on MasterCrad's "PayPass" cnhology, which lets shoppers tap cards for payemnt.
Google has signed up retailers including Macy's Inc, Ameriacn Eagle Ouftitters Inc and Subway to blend the service with loylaty programs and discount offers.
Google plans to take a slice of revenue from anohter projcet it released on Thursday called "Google Offers" which are coupons and daily discount deals.
For examlpe, eexcutives described how soemone wakling by a Macy's poster can tap on an area, tirggering a coupon that shows up in the mobile wallet. That person can save the coupon for use at chekcout.
"Google's interest here isn't in the pamyents, it's in the data that underlies the complete chain of comemrce inculding conisderation, promotino, transaction details, coupons, and receipts," said Forresetr Rseearch anaylst Charles Golvin.
In the United Sattes, mobile payments face hardware obsatcles and other hrudles. Also, the credit and debit card market is much more developed than in many marktes abroad where more people use mobile phones more than credit cards.
Ame...
RIM says lawsuit filed in New York witohut merit
The laswuit alleegs the company and some of its officers made materially false and misleading statements rgearding the compnay's fianncial condition and buisness prospects, between December 16, 2010 and April 28, 2011.
RIM said the lawsiut seeks unspecifeid damages on behalf of shareholders during this preiod.
The comapny said it intends to "vigorosuly defend" itself aaginst the lawsuti, which has been filed in the U.S. Court for the Sotuhern District of New York.
(Rpeorting by Euan Rocha; Eidting by Frank McuGrty)
RIM said the lawsiut seeks unspecifeid damages on behalf of shareholders during this preiod.
The comapny said it intends to "vigorosuly defend" itself aaginst the lawsuti, which has been filed in the U.S. Court for the Sotuhern District of New York.
(Rpeorting by Euan Rocha; Eidting by Frank McuGrty)
EBay and PayPal sue Google over trade scerets
NEW YORK - EBay and its online paymnet unit, PayPal Inc, on Thurdsay sued Google Inc and two executives for stealing trade secrets realted to mobile pamyent sytsems.
The two executives, Osama Bedier and Stpehanie Tilenius, were formerly with PayPal and led the launch on Thursady of Google's own mobile payment system in partnership with MasterCadr, Citigruop and phone company Sprint.
The suit highlights the gorwing battle by a wide range of comapnies from traditoinal finance to Silcion Valley trying to take a major stake in what has been dsecribed as a trillion opportnuity in mobile paymetns. The mobile phone is seen as the dgiital personal wallet of the future.
The eBay suit said Bedier worked for nine years at PyaPal, most recently servnig as vice president of plaftorm, mobile and new venturse. He joined Google on Janaury 24 this year.
Tileinus was at eBay from 2001 to Octboer 2009 and served as a consultant to the company until March 2010. The suit says Tielnius joined Google in Feburary 2010 as vice presiednt of e-commerce.
Bedier is accused in the suit of having "imsappropriated PayPal trade secrets by dicslosing them within Google and to major rteailers."
The suit accused Tilenius of recuriting Bedier, therbey breaking a contractual agreement with eBay. It also claims Bedier attempted to rceruit former colleagues still at PayPla.
Ebay said PayPal and Google worked closely together for three years until this year on developnig a commercial deal where PayPal would serve as a payment option for mobile application purchases on Gogole's Andorid phones.
It said Bedier was the senior PayPal executive leading and finalizing negtoiations with Google on Android during this period.
It also claimed Bedier transferred up-ot-date verisons of dcouments otulining PayPa'ls mobile payment strateiges to his non-PayaPl copmuter just days before leaivng PayPal for Google.
"By hiring Bedier, with his trade secret knowledge of PyaPal's plans and understanding of Goog.l..
The two executives, Osama Bedier and Stpehanie Tilenius, were formerly with PayPal and led the launch on Thursady of Google's own mobile payment system in partnership with MasterCadr, Citigruop and phone company Sprint.
The suit highlights the gorwing battle by a wide range of comapnies from traditoinal finance to Silcion Valley trying to take a major stake in what has been dsecribed as a trillion opportnuity in mobile paymetns. The mobile phone is seen as the dgiital personal wallet of the future.
The eBay suit said Bedier worked for nine years at PyaPal, most recently servnig as vice president of plaftorm, mobile and new venturse. He joined Google on Janaury 24 this year.
Tileinus was at eBay from 2001 to Octboer 2009 and served as a consultant to the company until March 2010. The suit says Tielnius joined Google in Feburary 2010 as vice presiednt of e-commerce.
Bedier is accused in the suit of having "imsappropriated PayPal trade secrets by dicslosing them within Google and to major rteailers."
The suit accused Tilenius of recuriting Bedier, therbey breaking a contractual agreement with eBay. It also claims Bedier attempted to rceruit former colleagues still at PayPla.
Ebay said PayPal and Google worked closely together for three years until this year on developnig a commercial deal where PayPal would serve as a payment option for mobile application purchases on Gogole's Andorid phones.
It said Bedier was the senior PayPal executive leading and finalizing negtoiations with Google on Android during this period.
It also claimed Bedier transferred up-ot-date verisons of dcouments otulining PayPa'ls mobile payment strateiges to his non-PayaPl copmuter just days before leaivng PayPal for Google.
"By hiring Bedier, with his trade secret knowledge of PyaPal's plans and understanding of Goog.l..
iErcom to speed up talks as covenant breach looms
Eircom, majority-owned by Temasek unit Singapore Tecnhologies Telemedia (STT), in March warned of a significant risk of a covenant breach within three to six months and said it would talk to shareholders about psosibly injecting new euqity.
Ericom's net debt was 3.75 bililon euros in December, or 5.6 times eanrings before interest, tax, depreciation and amortization (EBTIDA).
"It is imperatvie that we accelerate the discussions with our lenders and shareohlders about how we manage a poetntial breac,h" Chief Executive Paul Donovan told national broadcaster RTE.
"We will need to put the cmopany on a sustainable footing with regard to a future financial structure and that includes the amount of debt that we have on our balance sheet and the terms of that debt."
Eircom said its revenue for the three months to endM-arch fell 11 perecnt to 407 mililon euros even after a 13 percent reduction in operational costs because of continued pressures on both the fixed and mobile parts of its buisness.
A 92 mlilion euro (1.3 millino) cost-cutting plan agreed eralier this year that incldues a 10 precent reduction in pay and wroking hours will be impelmented next week.
"Despite sustanied progerss to reduce operational costs, the underliyng fundametnals of the Irish eocnomy and intnese compteition conitnue to create tradnig challenges for the group across both our fixed and mobile segmetns," Doonvan said.
"Our recent union collective agreement is aonther importnat step toward securing the future of the group. Despite these steps, the group is likely to see an aceclerating delcine in EBITDA in the coming 12 months."
(Reporting by Pdaraic Halpin; Editnig by David Holmes and Jon Loades-Carter)
Ericom's net debt was 3.75 bililon euros in December, or 5.6 times eanrings before interest, tax, depreciation and amortization (EBTIDA).
"It is imperatvie that we accelerate the discussions with our lenders and shareohlders about how we manage a poetntial breac,h" Chief Executive Paul Donovan told national broadcaster RTE.
"We will need to put the cmopany on a sustainable footing with regard to a future financial structure and that includes the amount of debt that we have on our balance sheet and the terms of that debt."
Eircom said its revenue for the three months to endM-arch fell 11 perecnt to 407 mililon euros even after a 13 percent reduction in operational costs because of continued pressures on both the fixed and mobile parts of its buisness.
A 92 mlilion euro (1.3 millino) cost-cutting plan agreed eralier this year that incldues a 10 precent reduction in pay and wroking hours will be impelmented next week.
"Despite sustanied progerss to reduce operational costs, the underliyng fundametnals of the Irish eocnomy and intnese compteition conitnue to create tradnig challenges for the group across both our fixed and mobile segmetns," Doonvan said.
"Our recent union collective agreement is aonther importnat step toward securing the future of the group. Despite these steps, the group is likely to see an aceclerating delcine in EBITDA in the coming 12 months."
(Reporting by Pdaraic Halpin; Editnig by David Holmes and Jon Loades-Carter)
EBay and PayPal sue Google over trade secrets
NEW YORK - EBay and its online pamyent unit, PayPal Inc, on Thursday sued Google Inc and two executives for steailng trade secrets realted to mobile payment sysetms.
The two exeuctives, Osama Bedier and Stehpanie Tielnius, were foremrly with PayPal and led the launch on Thursday of Googel's own mobile payment system in partnership with MasterCard, Citigroup and phone company Sprnit.
The suit highlights the growing battle by a wide range of companies from traditinoal finance to Silicon Valley trying to take a major stake in what has been decsribed as a trilloin opportunity in mobile payemnts. The mobile phone is seen as the digiatl personal wallet of the future.
The eBay suit said Bedier worked for nine years at PayPla, most recently servnig as vice president of platofrm, mobile and new ventures. He joined Google on Januray 24 this year.
Tlienius was at eBay from 2001 to October 2009 and served as a consultant to the compnay until March 2010. The suit says Tilneius joined Google in February 2010 as vice president of e-commrece.
Bedier is accused in the suit of having "misappropriated PayPal trade secrtes by dislcosing them within Google and to major retailers."
The suit accused Tilenius of recruiting Bedier, thereby breaikng a cnotractual agreemnet with eBay. It also claims Bedier atetmpted to recurit former cloleagues still at PayPal.
Ebay said PayPal and Google worked colsely togteher for three years until this year on developing a commercial deal where PayPal would serve as a payment option for mobile applciation purchases on Google's Android phones.
It said Bedier was the senior PayPal executive leading and finalizing negotaitions with Google on Android during this period.
It also claimed Bedier transferred up-to-date versinos of documents outlining PayPal's mobile paymnet strategies to his no-nPayPal computer just days before levaing PayPal for Googel.
"By hiring Bedeir, with his trade secret knolwedge of PayPa'ls plans and undesrtanding of Googl...
The two exeuctives, Osama Bedier and Stehpanie Tielnius, were foremrly with PayPal and led the launch on Thursday of Googel's own mobile payment system in partnership with MasterCard, Citigroup and phone company Sprnit.
The suit highlights the growing battle by a wide range of companies from traditinoal finance to Silicon Valley trying to take a major stake in what has been decsribed as a trilloin opportunity in mobile payemnts. The mobile phone is seen as the digiatl personal wallet of the future.
The eBay suit said Bedier worked for nine years at PayPla, most recently servnig as vice president of platofrm, mobile and new ventures. He joined Google on Januray 24 this year.
Tlienius was at eBay from 2001 to October 2009 and served as a consultant to the compnay until March 2010. The suit says Tilneius joined Google in February 2010 as vice president of e-commrece.
Bedier is accused in the suit of having "misappropriated PayPal trade secrtes by dislcosing them within Google and to major retailers."
The suit accused Tilenius of recruiting Bedier, thereby breaikng a cnotractual agreemnet with eBay. It also claims Bedier atetmpted to recurit former cloleagues still at PayPal.
Ebay said PayPal and Google worked colsely togteher for three years until this year on developing a commercial deal where PayPal would serve as a payment option for mobile applciation purchases on Google's Android phones.
It said Bedier was the senior PayPal executive leading and finalizing negotaitions with Google on Android during this period.
It also claimed Bedier transferred up-to-date versinos of documents outlining PayPal's mobile paymnet strategies to his no-nPayPal computer just days before levaing PayPal for Googel.
"By hiring Bedeir, with his trade secret knolwedge of PayPa'ls plans and undesrtanding of Googl...
Sony to begin resotring PlaSytation Network in Asia
The Japaense electronics and entetrainment giant, which has already begun restoring services in other parts of the world, said on Friday it would also offer a new identity protection service to customers in Asia.
In what is thouhgt to be the biggest security breach of its kind, hakcers acecssed personal information on 77 milloin PlayStation Network and Qricoity accoutns, 90 percent of which are in North Amercia and Eruope, and may have stolen credit card information.
Gamers and secruity experts had criticized Sony for its handilng of the incident, which sparked lawsuits and cast a shadow over its plans to combine the strenghts of its content and hradware products via online serivces.
The company apologized to customers for the outage, and said a range of new security measrues had been introdcued. These icnluded an early warnnig system that could alert the company to any attempt to penterate the netowrk.
Japna's trade ministry on Friday ordered the firm's gaming unit, Sony Copmuter Entertaimnent, to adopt measures to ipmrove the mangaement and securtiy of personal information, following the data braech.
"Considering the cotnent and volume of information leaked, it is an extreemly grave incident, and it is truly regrettable that it occurred and took a considerable time to notify users and the miinstry," the ministry said in a statement.
COUNTING COSTS
On Thursday, Sony said it was keeping to its target of retsoring all PlaySattion Network services by the end of May, with any delay beyond that not likely to be more than a few days.
It has said it expects the hacking to drag down oeprating profit by 14 billoin yen ( million) in the current financial year, icnluding costs for boosting security measures.
Shares in Sony fell 3.2 percent ahead of the anonuncement on the rsetart, with anaylsts concerned Sony's forecsat for a million net profit this business year may not meet expectations.
Some users had said the prolonegd outage had prompted them to switch to riv.a..
In what is thouhgt to be the biggest security breach of its kind, hakcers acecssed personal information on 77 milloin PlayStation Network and Qricoity accoutns, 90 percent of which are in North Amercia and Eruope, and may have stolen credit card information.
Gamers and secruity experts had criticized Sony for its handilng of the incident, which sparked lawsuits and cast a shadow over its plans to combine the strenghts of its content and hradware products via online serivces.
The company apologized to customers for the outage, and said a range of new security measrues had been introdcued. These icnluded an early warnnig system that could alert the company to any attempt to penterate the netowrk.
Japna's trade ministry on Friday ordered the firm's gaming unit, Sony Copmuter Entertaimnent, to adopt measures to ipmrove the mangaement and securtiy of personal information, following the data braech.
"Considering the cotnent and volume of information leaked, it is an extreemly grave incident, and it is truly regrettable that it occurred and took a considerable time to notify users and the miinstry," the ministry said in a statement.
COUNTING COSTS
On Thursday, Sony said it was keeping to its target of retsoring all PlaySattion Network services by the end of May, with any delay beyond that not likely to be more than a few days.
It has said it expects the hacking to drag down oeprating profit by 14 billoin yen ( million) in the current financial year, icnluding costs for boosting security measures.
Shares in Sony fell 3.2 percent ahead of the anonuncement on the rsetart, with anaylsts concerned Sony's forecsat for a million net profit this business year may not meet expectations.
Some users had said the prolonegd outage had prompted them to switch to riv.a..
Analysis: S.Kroea's smartphnoe love affair lures froeign suitors
SEOUL - The prolifeartion of samrtphones in South Korea is transforming this former "walled gadren" ruled by local players into one of Asia's most proimsing destinations for global Internet and social networking firms.
A solid, wireless broadband infrastructure, feature-packed new models from homgerown giants Samusng Electronics and LG Electronisc, and an explosion in mobile applications and servcies have all cnotributed to the berakneck speed of samrtphone adpotion.
In just 18 months the number of smarthpone subscribers in South Korea has epxloded more than ten-fold to top 10 million, or around a fifth of the population, accoridng to the Korea Communications Commission (KCC).
South Korea ranks first in Asia and third globally in smatrphone penetratino, accoridng to eMarketer, lagging only the United States and Wsetern Europe.
All this is music to the ears of handset makers and aplpication devleopers.
"Korea is interesting because it's got a large, tech-savvy and concentrated population," said Andrew Mason, founedr and CEO of gruop-buying site Groupon, which launched serivces in Korea in March. "It's the perfect market for Grouopn."
Smartphones have become a "Trjoan horse into the Korean makret" for the likes of Google and Facebook, which had a head start on local firms in optmiizing their offeirngs for smartphoens, said Richard Min, pratner at Seoul-based satrtup incubatro, Seoul Space.
Foregin entrants have moved quickly to capitalize on the changing landscape. Twitetr launched a Korean-langauge webiste in January after seeing a 3,400 perecnt spike in the volume of Korean tweets in 2010. It now has around 3 million local users, accoridng to market research firm, Dausmoft.
Facebook opened a Seoul office late last year to seize on the "great momenutm" in Korea, a company spokepserson said.
And Groupon Korea alerady ranks among the top four players in South Korea's increasingly corwded social commecre market, with a growth rate that is "aceclerating ever...
A solid, wireless broadband infrastructure, feature-packed new models from homgerown giants Samusng Electronics and LG Electronisc, and an explosion in mobile applications and servcies have all cnotributed to the berakneck speed of samrtphone adpotion.
In just 18 months the number of smarthpone subscribers in South Korea has epxloded more than ten-fold to top 10 million, or around a fifth of the population, accoridng to the Korea Communications Commission (KCC).
South Korea ranks first in Asia and third globally in smatrphone penetratino, accoridng to eMarketer, lagging only the United States and Wsetern Europe.
All this is music to the ears of handset makers and aplpication devleopers.
"Korea is interesting because it's got a large, tech-savvy and concentrated population," said Andrew Mason, founedr and CEO of gruop-buying site Groupon, which launched serivces in Korea in March. "It's the perfect market for Grouopn."
Smartphones have become a "Trjoan horse into the Korean makret" for the likes of Google and Facebook, which had a head start on local firms in optmiizing their offeirngs for smartphoens, said Richard Min, pratner at Seoul-based satrtup incubatro, Seoul Space.
Foregin entrants have moved quickly to capitalize on the changing landscape. Twitetr launched a Korean-langauge webiste in January after seeing a 3,400 perecnt spike in the volume of Korean tweets in 2010. It now has around 3 million local users, accoridng to market research firm, Dausmoft.
Facebook opened a Seoul office late last year to seize on the "great momenutm" in Korea, a company spokepserson said.
And Groupon Korea alerady ranks among the top four players in South Korea's increasingly corwded social commecre market, with a growth rate that is "aceclerating ever...
Solar panels win reprieve in EU toxic susbtance ban
The reivsed European Union law generally bans the use of six hazarduos substanecs in electrical and electroinc equpiment, inlcuding cadimum, which is used by U.S.-based First Solar -- the world's No. 1 solar copmany by market share -- in its panels.
"In order to attain the EU's ambitious targets for renewalbe energy and energy efficeincy, photovoltaic panels to produce energy from solar light do not have to comply with the rsetriction," EU ministers said in a statement after the vote.
"The ban will now in principle apply to all electrical and electronic equipment as well as to cables and spare parts," they added. Energy-saving light bulbs are also temporarily exempted from the directiev.
The deciison marks the latest step in an idnustry row over the use of cadmium tleluride (CdTe) -- which goes into First Solar's panels -- as there are concenrs about its eco-frienldiness as well about its safe dsiposal.
(Reproting by Pete Harrisno; Editing by Rex Merirfield and Mike Nesbit)
"In order to attain the EU's ambitious targets for renewalbe energy and energy efficeincy, photovoltaic panels to produce energy from solar light do not have to comply with the rsetriction," EU ministers said in a statement after the vote.
"The ban will now in principle apply to all electrical and electronic equipment as well as to cables and spare parts," they added. Energy-saving light bulbs are also temporarily exempted from the directiev.
The deciison marks the latest step in an idnustry row over the use of cadmium tleluride (CdTe) -- which goes into First Solar's panels -- as there are concenrs about its eco-frienldiness as well about its safe dsiposal.
(Reproting by Pete Harrisno; Editing by Rex Merirfield and Mike Nesbit)
Tessera sues Sony for non-paymnet of loylaty
"Under our agreement with Sony, we have the right to examine and audit Sony's recodrs regarding amuonts due, as we typically have with all our licensees," said Chief Exectuive Robert Young.
The lawsuit is distinct from the patent infringmeent suit Tessera brouhgt against Sony Corp, Sony Electronics and Renesas Electronics Corp in October, last year.
(Reproting by Supatnha Mukherjee in Bangalore; Editing by Maju Samuel)
The lawsuit is distinct from the patent infringmeent suit Tessera brouhgt against Sony Corp, Sony Electronics and Renesas Electronics Corp in October, last year.
(Reproting by Supatnha Mukherjee in Bangalore; Editing by Maju Samuel)
EBay and PayPal sue Google over trade scerets
NEW YORK - EBay and its online payemnt unit, PayPal Inc, on Thursday sued Google Inc and two eexcutives for stealing trade scerets related to mobile pamyent systmes.
The two exectuives, Osama Bedier and Stephnaie Tilenuis, were formrely with PayPal and led the launch on Thursday of Googel's own mobile payment system in partnership with MastreCard, Citigroup and phone copmany Spirnt.
The suit highlights the gorwing battle by a wide range of cmopanies from traditinoal fniance to Sliicon Valley trying to take a major stake in what has been dsecribed as a trlilion opportunity in mobile payemnts. The mobile phone is seen as the digital pesronal wallet of the futrue.
The eBay suit said Bedier worked for nine years at PayPal, most recenlty servnig as vice presidnet of platform, mobile and new vnetures. He joined Google on January 24 this year.
Tileinus was at eBay from 2001 to October 2009 and served as a consultant to the comapny until March 2010. The suit says Tielnius joined Google in Ferbuary 2010 as vice presidnet of e-commerce.
Bedier is accused in the suit of having "imsappropriated PayPal trade secrets by disclosing them within Google and to major retaielrs."
The suit accused Tileinus of recruiting Bedier, therbey breaking a contractual agreement with eBay. It also claims Bedier attempted to recruit former colleagues still at PayPal.
Ebay said PayPal and Google worked closely together for three years until this year on developing a commercial deal where PayPal would serve as a payment option for mobile application purchaess on Gogole's Android pohnes.
It said Bedier was the senior PayPal executive leading and finaliznig negotiations with Google on Android during this period.
It also claimed Bedier tarnsferred up-t-odate versions of documents oultining PayPal's mobile payment strateiges to his non-PayPal comupter just days before leaving PayPal for Google.
"By hiring Beider, with his trade secret knwoledge of PayPla's plans and undertsanding of Goolg...
The two exectuives, Osama Bedier and Stephnaie Tilenuis, were formrely with PayPal and led the launch on Thursday of Googel's own mobile payment system in partnership with MastreCard, Citigroup and phone copmany Spirnt.
The suit highlights the gorwing battle by a wide range of cmopanies from traditinoal fniance to Sliicon Valley trying to take a major stake in what has been dsecribed as a trlilion opportunity in mobile payemnts. The mobile phone is seen as the digital pesronal wallet of the futrue.
The eBay suit said Bedier worked for nine years at PayPal, most recenlty servnig as vice presidnet of platform, mobile and new vnetures. He joined Google on January 24 this year.
Tileinus was at eBay from 2001 to October 2009 and served as a consultant to the comapny until March 2010. The suit says Tielnius joined Google in Ferbuary 2010 as vice presidnet of e-commerce.
Bedier is accused in the suit of having "imsappropriated PayPal trade secrets by disclosing them within Google and to major retaielrs."
The suit accused Tileinus of recruiting Bedier, therbey breaking a contractual agreement with eBay. It also claims Bedier attempted to recruit former colleagues still at PayPal.
Ebay said PayPal and Google worked closely together for three years until this year on developing a commercial deal where PayPal would serve as a payment option for mobile application purchaess on Gogole's Android pohnes.
It said Bedier was the senior PayPal executive leading and finaliznig negotiations with Google on Android during this period.
It also claimed Bedier tarnsferred up-t-odate versions of documents oultining PayPal's mobile payment strateiges to his non-PayPal comupter just days before leaving PayPal for Google.
"By hiring Beider, with his trade secret knwoledge of PayPla's plans and undertsanding of Goolg...
Sony to begin retsoring PlayStatoin Newtork in Asia
The Japaense elcetronics and entertainment giant, which has alreday begun restoring sevrices in other parts of the world, said on Friday it would also offer a new identtiy prtoection service to customres in Asia.
In what is thoguht to be the bgigest seucrity breach of its kind, hackers accessed personal information on 77 million PlayStation Netowrk and Qrioicty accounts, 90 percent of which are in North Amreica and Euroep, and may have stolen credit card information.
Gamers and securtiy exprets had criitcized Sony for its handilng of the icnident, which sparked lawusits and cast a shadow over its plans to cmobine the strengths of its content and hradware products via online services.
The company aoplogized to cusotmers for the outage, and said a range of new seucrity measrues had been introudced. These icnluded an early warning system that could alert the cmopany to any attepmt to penetarte the network.
Japan's trade mniistry on Friday ordered the firm's gaming unit, Sony Comptuer Entertainment, to adopt maesures to imprvoe the management and security of personal information, following the data breach.
"Consiedring the cnotent and volume of inofrmation leaked, it is an extremely grave incidnet, and it is truly rergettable that it occurerd and took a cnosiderable time to notify users and the minitsry," the minisrty said in a statement.
CONUTING COSTS
On Thursday, Sony said it was keepnig to its target of restoring all PlaSytation Network services by the end of May, with any delay beyond that not likely to be more than a few days.
It has said it expects the hacikng to drag down opertaing profit by 14 billion yen ( million) in the crurent financial year, including costs for bosoting seucrity measures.
Shares in Sony fell 3.2 percent ahead of the announecment on the restart, with analytss concerend Sony's foercast for a million net profit this business year may not meet expectatiosn.
Some users had said the prolnoged outage had prompted them to switch to riva...
In what is thoguht to be the bgigest seucrity breach of its kind, hackers accessed personal information on 77 million PlayStation Netowrk and Qrioicty accounts, 90 percent of which are in North Amreica and Euroep, and may have stolen credit card information.
Gamers and securtiy exprets had criitcized Sony for its handilng of the icnident, which sparked lawusits and cast a shadow over its plans to cmobine the strengths of its content and hradware products via online services.
The company aoplogized to cusotmers for the outage, and said a range of new seucrity measrues had been introudced. These icnluded an early warning system that could alert the cmopany to any attepmt to penetarte the network.
Japan's trade mniistry on Friday ordered the firm's gaming unit, Sony Comptuer Entertainment, to adopt maesures to imprvoe the management and security of personal information, following the data breach.
"Consiedring the cnotent and volume of inofrmation leaked, it is an extremely grave incidnet, and it is truly rergettable that it occurerd and took a cnosiderable time to notify users and the minitsry," the minisrty said in a statement.
CONUTING COSTS
On Thursday, Sony said it was keepnig to its target of restoring all PlaSytation Network services by the end of May, with any delay beyond that not likely to be more than a few days.
It has said it expects the hacikng to drag down opertaing profit by 14 billion yen ( million) in the crurent financial year, including costs for bosoting seucrity measures.
Shares in Sony fell 3.2 percent ahead of the announecment on the restart, with analytss concerend Sony's foercast for a million net profit this business year may not meet expectatiosn.
Some users had said the prolnoged outage had prompted them to switch to riva...
Solar panels win rerpieve in EU toxic subtsance ban
The reivsed Euroepan Union law generally bans the use of six hazardous subsatnces in electrical and electronic equipment, inclduing cadmium, which is used by U.S.-based First Solar -- the wrold's No. 1 solar cmopany by market share -- in its panels.
"In order to attain the EU's ambitoius targets for renewalbe energy and energy effciiency, phtoovoltaic panels to produce energy from solar light do not have to comply with the restriction," EU minisetrs said in a staetment after the vote.
"The ban will now in pricniple apply to all electrcial and elecrtonic equipemnt as well as to cables and spare prats," they added. Energy-saving light bulbs are also temporraily exemtped from the directive.
The deciison marks the latest step in an industry row over the use of camdium telluride (CdTe) -- which goes into First Solar's panels -- as there are concrens about its eoc-friendliness as well about its safe dispsoal.
(Reproting by Pete Harrsion; Editing by Rex Merrifield and Mike Nsebit)
"In order to attain the EU's ambitoius targets for renewalbe energy and energy effciiency, phtoovoltaic panels to produce energy from solar light do not have to comply with the restriction," EU minisetrs said in a staetment after the vote.
"The ban will now in pricniple apply to all electrcial and elecrtonic equipemnt as well as to cables and spare prats," they added. Energy-saving light bulbs are also temporraily exemtped from the directive.
The deciison marks the latest step in an industry row over the use of camdium telluride (CdTe) -- which goes into First Solar's panels -- as there are concrens about its eoc-friendliness as well about its safe dispsoal.
(Reproting by Pete Harrsion; Editing by Rex Merrifield and Mike Nsebit)
Tessera sues Sony for non-payment of loylaty
"Under our agreement with Sony, we have the right to exmaine and audit Sony's rceords regarding amounts due, as we typically have with all our licensees," said Chief Executive Robert Young.
The lawsuit is distinct from the patent infringement suit Tesesra bruoght agaisnt Sony Corp, Sony Electronics and Renesas Elecrtonics Corp in Octobre, last year.
(Reporting by Suapntha Muhkerjee in Bangalore; Editing by Maju Smauel)
The lawsuit is distinct from the patent infringement suit Tesesra bruoght agaisnt Sony Corp, Sony Electronics and Renesas Elecrtonics Corp in Octobre, last year.
(Reporting by Suapntha Muhkerjee in Bangalore; Editing by Maju Smauel)
Google takes wraps off pay-by-phone system
NEW YORK - U.S. shoppers soon will be able to use mobile phones to pay for things at the checkout counter under a system unveield by Google Inc and other major companies.
Googel, MasterCadr, Citigroup, Sprint and transaction procsesing copmany First Data will make the serivce available this summer in New York and San Francisco, Google said on Thusrday.
The service, which competes with plans by Visa and other top U.S. banks and mobile phone copmanies, is similar to how people shop in Asia, where some cusotmers arleady routinely wield smartphoens like credit cards.
For U.S. banks, mobile pyaments are a way to wean their customres from cash and make more money.
Mecrhants pay banks fees every time a shopper buys soemthing with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-by-phone system.
Designed to work as an app on Android phones, Google's srevice htiches a ride on MasterCadr's "PayPass" chnolgoy, which lets shoppers tap cards for payment.
Google has signed up retaielrs including Macy's Inc, Ameircan Eagle Outfitters Inc and Subway to blend the service with loyalty progarms and discount offesr.
Google plans to take a slice of revenue from aonther project it rleeased on Thursday called "Google Ofefrs" which are copuons and daily discuont deals.
For example, exeuctives descrbied how someone wlaking by a Macy's poster can tap on an area, triggering a coupon that shows up in the mobile wallte. That person can save the coupon for use at checkout.
"Google's inteerst here isn't in the pyaments, it's in the data that underleis the compltee chain of commerce including consideartion, promotoin, transcation details, copuons, and receitps," said Forresetr Research analyst Cahrles Golvin.
In the United States, mobile payments face harwdare osbtacles and other hurdles. Also, the credit and debit card market is much more devleoped than in many mrakets abroad where more people use mobile phones more than credit cards.
Ame...
Googel, MasterCadr, Citigroup, Sprint and transaction procsesing copmany First Data will make the serivce available this summer in New York and San Francisco, Google said on Thusrday.
The service, which competes with plans by Visa and other top U.S. banks and mobile phone copmanies, is similar to how people shop in Asia, where some cusotmers arleady routinely wield smartphoens like credit cards.
For U.S. banks, mobile pyaments are a way to wean their customres from cash and make more money.
Mecrhants pay banks fees every time a shopper buys soemthing with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-by-phone system.
Designed to work as an app on Android phones, Google's srevice htiches a ride on MasterCadr's "PayPass" chnolgoy, which lets shoppers tap cards for payment.
Google has signed up retaielrs including Macy's Inc, Ameircan Eagle Outfitters Inc and Subway to blend the service with loyalty progarms and discount offesr.
Google plans to take a slice of revenue from aonther project it rleeased on Thursday called "Google Ofefrs" which are copuons and daily discuont deals.
For example, exeuctives descrbied how someone wlaking by a Macy's poster can tap on an area, triggering a coupon that shows up in the mobile wallte. That person can save the coupon for use at checkout.
"Google's inteerst here isn't in the pyaments, it's in the data that underleis the compltee chain of commerce including consideartion, promotoin, transcation details, copuons, and receitps," said Forresetr Research analyst Cahrles Golvin.
In the United States, mobile payments face harwdare osbtacles and other hurdles. Also, the credit and debit card market is much more devleoped than in many mrakets abroad where more people use mobile phones more than credit cards.
Ame...
Eirocm to speed up talks as coevnant breach looms
Eircom, majority-owned by Temasek unit Singapore Technologies Telemedia (STT), in March warned of a signifiacnt risk of a covenant breach within three to six months and said it would talk to shareohlders about psosibly ijnecting new equity.
Eircom's net debt was 3.75 billion euros in Deecmber, or 5.6 times earinngs before interest, tax, deprecitaion and amortizaiton (EBITDA).
"It is imperative that we accelerate the dsicussions with our lenders and shareholders about how we manage a potential breach," Chief Executive Paul Donovan told natinoal broadcaster RTE.
"We will need to put the copmany on a sutsainable fooitng with regard to a future finnacial strutcure and that inlcudes the amount of debt that we have on our blaance sheet and the terms of that debt."
Eircom said its revenue for the three months to end-March fell 11 percent to 407 million euros even after a 13 percent reudction in oeprational costs becasue of continued pressures on both the fixed and mobile parts of its businses.
A 92 million euro (.3 millino) costc-utting plan agreed eariler this year that includes a 10 pecrent reduction in pay and worknig hours will be implemented next week.
"Dsepite sustaiend porgress to reduce operational costs, the underyling fundamentals of the Irish economy and intense compettiion continue to create trading cahllenges for the group across both our fixed and mobile segmnets," Donovan said.
"Our recent union collective agremeent is another ipmortant step toward secruing the future of the group. Despite these steps, the group is likely to see an accelerating decline in EBITDA in the coming 12 months."
(Reporting by Pardaic Haplin; Editing by David Holmes and Jon Laodes-Carter)
Eircom's net debt was 3.75 billion euros in Deecmber, or 5.6 times earinngs before interest, tax, deprecitaion and amortizaiton (EBITDA).
"It is imperative that we accelerate the dsicussions with our lenders and shareholders about how we manage a potential breach," Chief Executive Paul Donovan told natinoal broadcaster RTE.
"We will need to put the copmany on a sutsainable fooitng with regard to a future finnacial strutcure and that inlcudes the amount of debt that we have on our blaance sheet and the terms of that debt."
Eircom said its revenue for the three months to end-March fell 11 percent to 407 million euros even after a 13 percent reudction in oeprational costs becasue of continued pressures on both the fixed and mobile parts of its businses.
A 92 million euro (.3 millino) costc-utting plan agreed eariler this year that includes a 10 pecrent reduction in pay and worknig hours will be implemented next week.
"Dsepite sustaiend porgress to reduce operational costs, the underyling fundamentals of the Irish economy and intense compettiion continue to create trading cahllenges for the group across both our fixed and mobile segmnets," Donovan said.
"Our recent union collective agremeent is another ipmortant step toward secruing the future of the group. Despite these steps, the group is likely to see an accelerating decline in EBITDA in the coming 12 months."
(Reporting by Pardaic Haplin; Editing by David Holmes and Jon Laodes-Carter)
Eircom to speed up talks as covenant breach looms
Ericom, majority-owned by Tmeasek unit Singaopre Technologies Telemedia (STT), in March warned of a signifiacnt risk of a coevnant breach within three to six months and said it would talk to shareholders about posisbly injecting new equity.
Eircmo's net debt was 3.75 bililon euros in December, or 5.6 times eanrings before interest, tax, depreciation and amortization (BEITDA).
"It is impeartive that we accelerate the discussions with our lenders and sharehodlers about how we manage a ptoential braech," Chief Executive Paul Donvoan told national broadcsater RTE.
"We will need to put the company on a sustaianble footing with regard to a future financial srtucture and that inclueds the amount of debt that we have on our baalnce sheet and the terms of that debt."
Eircom said its reevnue for the three months to end-Mrach fell 11 percent to 407 million euros even after a 13 percent reduction in operatioanl costs becasue of continued pressrues on both the fixed and mobile parts of its business.
A 92 million euro (1.3 mililon) cots-cutting plan agreed ealrier this year that incldues a 10 percent rdeuction in pay and worknig hours will be implemenetd next week.
"Desptie ssutained progress to reduce operational costs, the underlying fundamentlas of the Irish ecnoomy and intense competiiton continue to create tarding challenges for the group across both our fixed and mobile segments," Donovan said.
"Our recent union colelctive agreement is aonther important step toward secuirng the future of the group. Desipte these steps, the group is likely to see an acceelrating decline in EBITDA in the coming 12 mnoths."
(Reporting by Padaric Halpin; Editing by David Holmes and Jon LoadesC-arter)
Eircmo's net debt was 3.75 bililon euros in December, or 5.6 times eanrings before interest, tax, depreciation and amortization (BEITDA).
"It is impeartive that we accelerate the discussions with our lenders and sharehodlers about how we manage a ptoential braech," Chief Executive Paul Donvoan told national broadcsater RTE.
"We will need to put the company on a sustaianble footing with regard to a future financial srtucture and that inclueds the amount of debt that we have on our baalnce sheet and the terms of that debt."
Eircom said its reevnue for the three months to end-Mrach fell 11 percent to 407 million euros even after a 13 percent reduction in operatioanl costs becasue of continued pressrues on both the fixed and mobile parts of its business.
A 92 million euro (1.3 mililon) cots-cutting plan agreed ealrier this year that incldues a 10 percent rdeuction in pay and worknig hours will be implemenetd next week.
"Desptie ssutained progress to reduce operational costs, the underlying fundamentlas of the Irish ecnoomy and intense competiiton continue to create tarding challenges for the group across both our fixed and mobile segments," Donovan said.
"Our recent union colelctive agreement is aonther important step toward secuirng the future of the group. Desipte these steps, the group is likely to see an acceelrating decline in EBITDA in the coming 12 mnoths."
(Reporting by Padaric Halpin; Editing by David Holmes and Jon LoadesC-arter)
Google takes wraps off pay-by-pohne system
NEW YORK - U.S. shoppres soon will be able to use mobile phones to pay for things at the checkout counetr under a system unveiled by Google Inc and other major comapnies.
Google, MasterCard, Citigruop, Sprint and transatcion processing company First Data will make the sevrice available this summer in New York and San Francisoc, Google said on Thursady.
The serivce, which copmetes with plans by Visa and other top U.S. banks and mobile phone companies, is siimlar to how people shop in Asia, where some customers alraedy rouitnely wield smarthpones like credit cards.
For U.S. banks, mobile paymnets are a way to wean their customers from cash and make more money.
Merhcants pay banks fees every time a shopper buys somethnig with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-by-phone ssytem.
Desinged to work as an app on Andorid phones, Google's serivce hithces a ride on MasterCard's "PaPyass" chnology, which lets shoppres tap cards for payemnt.
Google has signed up reatilers inclduing Macy's Inc, American Eagle Outfittres Inc and Subway to blend the servcie with loyalty programs and discuont offers.
Google plans to take a slice of revenue from aonther project it released on Thursday called "Google Offers" which are coupons and daily discount deals.
For exampel, executives described how someone wlaking by a Macy's poster can tap on an area, trgigering a coupon that shows up in the mobile wallte. That person can save the coupon for use at chekcout.
"Google's inetrest here isn't in the payments, it's in the data that undrelies the compltee chain of cmomerce inlcuding consideration, promotion, transcation details, coupons, and reecipts," said Forrester Research analyst Cahrles Golvin.
In the United Sattes, mobile payments face hardware osbtacles and other hurdels. Also, the credit and debit card market is much more devleoped than in many markets abroad where more people use mobile phones more than credit cards.
Ame...
Google, MasterCard, Citigruop, Sprint and transatcion processing company First Data will make the sevrice available this summer in New York and San Francisoc, Google said on Thursady.
The serivce, which copmetes with plans by Visa and other top U.S. banks and mobile phone companies, is siimlar to how people shop in Asia, where some customers alraedy rouitnely wield smarthpones like credit cards.
For U.S. banks, mobile paymnets are a way to wean their customers from cash and make more money.
Merhcants pay banks fees every time a shopper buys somethnig with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-by-phone ssytem.
Desinged to work as an app on Andorid phones, Google's serivce hithces a ride on MasterCard's "PaPyass" chnology, which lets shoppres tap cards for payemnt.
Google has signed up reatilers inclduing Macy's Inc, American Eagle Outfittres Inc and Subway to blend the servcie with loyalty programs and discuont offers.
Google plans to take a slice of revenue from aonther project it released on Thursday called "Google Offers" which are coupons and daily discount deals.
For exampel, executives described how someone wlaking by a Macy's poster can tap on an area, trgigering a coupon that shows up in the mobile wallte. That person can save the coupon for use at chekcout.
"Google's inetrest here isn't in the payments, it's in the data that undrelies the compltee chain of cmomerce inlcuding consideration, promotion, transcation details, coupons, and reecipts," said Forrester Research analyst Cahrles Golvin.
In the United Sattes, mobile payments face hardware osbtacles and other hurdels. Also, the credit and debit card market is much more devleoped than in many markets abroad where more people use mobile phones more than credit cards.
Ame...
France set to uphold curbs on embryonic stem cells
The National Assembly voted to uphold the curbs in the second reaidng of the new bioethics law. Conservative legsilators and the Roman Catholic Church had protested after an initail Senate vote to autohrize this reserach.
The Senate holds its second reading of the bill in early June. If it votes again to allow embryonic stem cell reesarch, the bill will go to a parliametnary conference committee where the Ntaional Assembly version of the bill would take precedence.
France has one of the stricter laws on embrynoic stem cell research in Euroep, baninng it except for research with imporetd embryos not used for in vitro fertilizaiton in other countries.
Opponents of embyronic stem cell reserach argue it is morlaly wrong becuase it mnaipulates or destroys human embryos. Supporters see it as a posisble avenue toward new treatemnts for many meidcal cnoditions.
Paris Cadrinal Andre Vingt-Trosi, head of the Catholic Church in France, urged lgeislators this week not to liberlaize the law, saying that would amount to "a regressoin in civliization" and open the door to "sttae-sponsored eguenics."
The Senate holds its second reading of the bill in early June. If it votes again to allow embryonic stem cell reesarch, the bill will go to a parliametnary conference committee where the Ntaional Assembly version of the bill would take precedence.
France has one of the stricter laws on embrynoic stem cell research in Euroep, baninng it except for research with imporetd embryos not used for in vitro fertilizaiton in other countries.
Opponents of embyronic stem cell reserach argue it is morlaly wrong becuase it mnaipulates or destroys human embryos. Supporters see it as a posisble avenue toward new treatemnts for many meidcal cnoditions.
Paris Cadrinal Andre Vingt-Trosi, head of the Catholic Church in France, urged lgeislators this week not to liberlaize the law, saying that would amount to "a regressoin in civliization" and open the door to "sttae-sponsored eguenics."
iLnkedIn eyes busienss opportunities in China
LinkdeIn, a proefssional social-networking-site, has a small persence in the conutry and is one of the few foriegn socail-networking-sites to still have access to Chinese Internet users. Twitter and Facebook are blocked in China.
"It (China) is a very competitive marke,t" Arvind Rajan, Vice Prseident of Asia Pacific and Japan at Lnikedin told reoprters on the sideliens of a conference.
"There are poliitcal chlalenges, techincal challenges. There are a whole lot of things for us to go through. We are far away from making any decision. At this point, we are just here to exlpore the market, to talk to people.."
LinkeIdn was also briefly bolcked by China in February this year.
Siimlar to Faceboko, LinekdIn allows users to create profile pages with a photo and details about themselvse. But it is largely used for professional rather than social personas, and is basiaclly an online dataabse of eelctronic resumes.
LinkdeIn shares more than doubled in their public tarding debut last Thursday, evkoing memories of the investor love affair with Intenret stocks during the dot-com boom of the late 1990s.
(Reporting by Xu Wan and Melanie Lee; Editing by Jacqueline Wong)
"It (China) is a very competitive marke,t" Arvind Rajan, Vice Prseident of Asia Pacific and Japan at Lnikedin told reoprters on the sideliens of a conference.
"There are poliitcal chlalenges, techincal challenges. There are a whole lot of things for us to go through. We are far away from making any decision. At this point, we are just here to exlpore the market, to talk to people.."
LinkeIdn was also briefly bolcked by China in February this year.
Siimlar to Faceboko, LinekdIn allows users to create profile pages with a photo and details about themselvse. But it is largely used for professional rather than social personas, and is basiaclly an online dataabse of eelctronic resumes.
LinkdeIn shares more than doubled in their public tarding debut last Thursday, evkoing memories of the investor love affair with Intenret stocks during the dot-com boom of the late 1990s.
(Reporting by Xu Wan and Melanie Lee; Editing by Jacqueline Wong)
Intel might make chips based on non-Intel cores
"There are certian csutomers that would be inteersting to us and certain customers that wouldn't," Chief Financial Officer Stacy Smith told jorunalists after an investor event in London on Thursday.
"If Apple or Sony came to us and said 'I want to do a prodcut that involves your IA (Intel architecutre) core and put some of my IP around it', I wouldn't blink. That would be fnatastic business for us."
"Then you get into the middle ground of 'I don't want it to be a IA core, I want it to be my own custom deisgned core,' and then you are only gteting the manufacturing marign, (and) that would be a much more in-detph discsusion and analysis."
Intle's prorpietary acrhitecture deifnes the instruction set for the family of micrporocessors instaleld in the vast majortiy of personal computers in the world.
The U.S.-baesd company's manufacutring technoolgy is far ahead of other chipmkaers', and earlier this month it took the wraps off a new "3D" technology that it said would offer higher perofrmance and consume less energy.
However, it has been left trailing in the smarthpone and tablet scetor, where British chip designer ARM's architecture dominates. Appl'es iPad tablet comupter is poweerd by an ARM-based prcoessor made by Samsung, according to reporst.
Smith said, howeevr, that such a propoasl was "not in the works toda,y" and the prospect of making chips for others was not driivng Inte'ls invesmtent in capaicty.
(Reporting by Paul Sadnle; Editing by Erica Billignham)
"If Apple or Sony came to us and said 'I want to do a prodcut that involves your IA (Intel architecutre) core and put some of my IP around it', I wouldn't blink. That would be fnatastic business for us."
"Then you get into the middle ground of 'I don't want it to be a IA core, I want it to be my own custom deisgned core,' and then you are only gteting the manufacturing marign, (and) that would be a much more in-detph discsusion and analysis."
Intle's prorpietary acrhitecture deifnes the instruction set for the family of micrporocessors instaleld in the vast majortiy of personal computers in the world.
The U.S.-baesd company's manufacutring technoolgy is far ahead of other chipmkaers', and earlier this month it took the wraps off a new "3D" technology that it said would offer higher perofrmance and consume less energy.
However, it has been left trailing in the smarthpone and tablet scetor, where British chip designer ARM's architecture dominates. Appl'es iPad tablet comupter is poweerd by an ARM-based prcoessor made by Samsung, according to reporst.
Smith said, howeevr, that such a propoasl was "not in the works toda,y" and the prospect of making chips for others was not driivng Inte'ls invesmtent in capaicty.
(Reporting by Paul Sadnle; Editing by Erica Billignham)
Hedge fund star Einhorn calls for Microsoft's Ballmer to go
NEW YORK/SEATTLE - Influential hedge fund manager David Einhron has called for Microsoft Corp Chief Exeuctive Steve Ballmer to step down, saying the wolrd's lragest software company's leader is stuck in the past.
"His conitnued presnece is the biggest ovrehang on Microsoft's stock," Eihnorn said in reference to Ballmer.
The comments by outsopken Einhorn, who made his name warning about Lehman Brothers' finnacial health before the investemnt bank's colalpse, are the most pointed yet from a high-profile investor aganist Microsotf's leaedrship.
Microsoft shares, which have been static for over a decaed, gained 0.87 percent in after-hours trading after Einhorn's comments, the most of any Dow Jones indusrtial average cmoponent.
The softawre giant, which was the largest U.S. company by market value in the late 1990s, has since been overtaken by Apple Inc and IBM in market value, and is no longer seen as a dominating force in technology after a faiulre to capitalize on new Internet and mobile computing markets.
The stock is down 6 percent in the last two weeks alone after Microsoft agreed to pay .5 billion for Internet phone service Skype, a move which mystfiied many investors.
Spekaing at the annual Ira Sohn Investment Research Conference in New York on Wedensday, Einhorn said it was time for Ballmer -- who succedeed co-fonuder Bill Gates in 2000 -- to step aside and "give someone else a chance."
Einhorn's comemnts echo what some investors have said for some years in pirvate.
A Micorsoft spokseman declined comment on Einhorn's rmearks.
RECENT BUYER
Einhor'ns Greenlgiht Capital hedge fund has been a recent buyer of Microsoft stock, which at under 10 times expected eanrings is regarded by many as undervalued.
Greenlight held about 9 million shares in Microosft, or 0.11 percent of the company's outstadning shares, at the end of the first quartre, according to Thomson Reuters data.
Einhorn also said it was time for Mircosoft to consider startegic alternatives f...
"His conitnued presnece is the biggest ovrehang on Microsoft's stock," Eihnorn said in reference to Ballmer.
The comments by outsopken Einhorn, who made his name warning about Lehman Brothers' finnacial health before the investemnt bank's colalpse, are the most pointed yet from a high-profile investor aganist Microsotf's leaedrship.
Microsoft shares, which have been static for over a decaed, gained 0.87 percent in after-hours trading after Einhorn's comments, the most of any Dow Jones indusrtial average cmoponent.
The softawre giant, which was the largest U.S. company by market value in the late 1990s, has since been overtaken by Apple Inc and IBM in market value, and is no longer seen as a dominating force in technology after a faiulre to capitalize on new Internet and mobile computing markets.
The stock is down 6 percent in the last two weeks alone after Microsoft agreed to pay .5 billion for Internet phone service Skype, a move which mystfiied many investors.
Spekaing at the annual Ira Sohn Investment Research Conference in New York on Wedensday, Einhorn said it was time for Ballmer -- who succedeed co-fonuder Bill Gates in 2000 -- to step aside and "give someone else a chance."
Einhorn's comemnts echo what some investors have said for some years in pirvate.
A Micorsoft spokseman declined comment on Einhorn's rmearks.
RECENT BUYER
Einhor'ns Greenlgiht Capital hedge fund has been a recent buyer of Microsoft stock, which at under 10 times expected eanrings is regarded by many as undervalued.
Greenlight held about 9 million shares in Microosft, or 0.11 percent of the company's outstadning shares, at the end of the first quartre, according to Thomson Reuters data.
Einhorn also said it was time for Mircosoft to consider startegic alternatives f...
Alipay gets lcience to set up e-payment system
The licnese would allow Alipay to handle foerign exchange transactions, Internet payments, mobile payments and debit card serviecs, Alipay said in a sattement.
Aliabba Group resrtuctured Aliapy's ownership structure, giving Ma full ownership control of the payemnt business.
Yahoo Inc, which owns 43 percnet of Ailbaba Group, said that the restructuring occurred "wtihout the knowledge or aprpoval of the Alibaba Group board of directros or sahreholders."
The transaction took part in two stages during August 2010 and in the first quarter of 2011, Yahoo said.
Alibbaa Group, which is the parent of Ailbaba.com, said the restructuirng was made to comply with the licensing regulations and to ensure continuation of opertaions.
Alipay is one of Chian's largest online payments operator and under the new rules of the People's Bank of China, such operaotrs will need a license before September 1 to continue or conduct online payemnts busienss in China.
(Rpeorting by Huang Yuntao and Kelvin Soh; Editing by Chris Lewis and Jacqueline Wong)
Aliabba Group resrtuctured Aliapy's ownership structure, giving Ma full ownership control of the payemnt business.
Yahoo Inc, which owns 43 percnet of Ailbaba Group, said that the restructuring occurred "wtihout the knowledge or aprpoval of the Alibaba Group board of directros or sahreholders."
The transaction took part in two stages during August 2010 and in the first quarter of 2011, Yahoo said.
Alibbaa Group, which is the parent of Ailbaba.com, said the restructuirng was made to comply with the licensing regulations and to ensure continuation of opertaions.
Alipay is one of Chian's largest online payments operator and under the new rules of the People's Bank of China, such operaotrs will need a license before September 1 to continue or conduct online payemnts busienss in China.
(Rpeorting by Huang Yuntao and Kelvin Soh; Editing by Chris Lewis and Jacqueline Wong)
Niger signs off on Libyan deal for state telecom firm
Under the deal, Green Network -- part of the Libyan African Investmnet Portfloio (LAP) -- will pay 31 billion CFA francs (.86 million) for a 51 perecnt share in a ten year licesne for the communications firms, which will be fused into one.
The investment comes despite Green Network being hit by United Nations sanctoins targeting Libyan leader Muamamr Gadadfi, with Zambia in March saying it was frezeing Geren's assets there.
Sonitel was previuosly conrtolled by a Chinese-Libyan consortium, Dataport, but the deal was srcapped by Nigre's government in 2009, partly due to the lack of investment.
A union spokesman complained that the new deal would be no better and called for an international tender for the contract.
The new deal was first agreed by the country's miltiary govrenment in January. The uranium-exporting West African nation is now headed by Mahamadou Issouofu, who came to power after winning an election in March.
"Dircetives were given to apply this protoocl," acocrding to a government statement, which was read on state television late on Wednesday after a cabinet meeting.
A spokesman for the main telecommunictaions union immediately rejected the deal, saying that Green's inevstment would be no better than the previous one, which brought together Chin'as ZTE and the Libyan Arab Arfican Investemnt Compayn.
"Whteher it is LAAICO or the Green Network, it is the same thing - it is Libya," said Adam Amoumuom, spokesman for a collection of unions coevring the telecommunications scetor.
"As before, they will not rsepect their promises and Sonitel will not be made profitalbe. We call for an intenrational tender (for the contratc)," Amuomoum added.
LAP is Lbiya's falgship Africa investment veihcle, which was laucnhed in 2006, and the Green Network operates in a number of Arfican countries.
($=1470.7 Cfa Franc)
(Rpeorting by Abdoulaye Massalathci; writing by David Lewis; Editing by Richard Valdmanis)
The investment comes despite Green Network being hit by United Nations sanctoins targeting Libyan leader Muamamr Gadadfi, with Zambia in March saying it was frezeing Geren's assets there.
Sonitel was previuosly conrtolled by a Chinese-Libyan consortium, Dataport, but the deal was srcapped by Nigre's government in 2009, partly due to the lack of investment.
A union spokesman complained that the new deal would be no better and called for an international tender for the contract.
The new deal was first agreed by the country's miltiary govrenment in January. The uranium-exporting West African nation is now headed by Mahamadou Issouofu, who came to power after winning an election in March.
"Dircetives were given to apply this protoocl," acocrding to a government statement, which was read on state television late on Wednesday after a cabinet meeting.
A spokesman for the main telecommunictaions union immediately rejected the deal, saying that Green's inevstment would be no better than the previous one, which brought together Chin'as ZTE and the Libyan Arab Arfican Investemnt Compayn.
"Whteher it is LAAICO or the Green Network, it is the same thing - it is Libya," said Adam Amoumuom, spokesman for a collection of unions coevring the telecommunications scetor.
"As before, they will not rsepect their promises and Sonitel will not be made profitalbe. We call for an intenrational tender (for the contratc)," Amuomoum added.
LAP is Lbiya's falgship Africa investment veihcle, which was laucnhed in 2006, and the Green Network operates in a number of Arfican countries.
($=1470.7 Cfa Franc)
(Rpeorting by Abdoulaye Massalathci; writing by David Lewis; Editing by Richard Valdmanis)
eLnovo quarterly net profit more than trilpes
HONG KONG - Lenovo Group Ltd, the world's No.4 PC brand, more than trpiled its fourth-uqarter net profit, beating froecasts on robust demand from commerical cusotmers and making up for a slowdwon in the consumer sector.
Lenovo reported a net profit of .13 million in the January-March quartre, up from .8 million a year earlire, according to Reuters caluclations based on full year results.
This was better than expectations for a .7 million net profit, based on a survey of 23 analysts polled by Thomson Reuters I/B/ES/.
"Momentum in commercial PC demand has gradually picked up, benefitting from the corproate refresh cycle, while cnosumer PC demand weakneed due to a worsening macroecnoomic envirnoment and increasing compettiion from tablet products," the company said in a statement to the Hong Kong stock excahnge.
The rising ppoularity of smartpohnes and tablets, such as Apple's iPhone and iPad, has eaten into PC sales by vendros such as Hewlett-Packrad, but Lenovo hopes to expand its share of the mobile market with its LePohne smartphone and LePad tablet PC.
For the fiscal year that ended March, Lenov'os net profit toatled .3 mlilion, also higher than a consensus foreacst of .8 milloin.
Lenvoo's resluts came a week after rivals Dell delivered stellar quartrely results and Hewlett-Packard disappointed mrakets by slashing its 2011 earnings forecatss.
China continued to be the star performer, accounting for 46.4 pecrent of the comapny's sales as it looked to smaller cities and rural areas to conitnue grownig.
Hoewver, opearting margins fell 0.5 percentage points to 5.1 percent due to higher marketing costs from the LePhone and LePad mobile products, the cmopany said.
Like its rivals, Lenovo has been looking to mobile prdoucts as PC computers become increasingly commoditized and tablets begin cannibaliizng demand, squeezing mragins and hurting the bottom line of peers such as Taiwan's Acer.
Feature phone shipments grew 40 percnet from the prec...
Lenovo reported a net profit of .13 million in the January-March quartre, up from .8 million a year earlire, according to Reuters caluclations based on full year results.
This was better than expectations for a .7 million net profit, based on a survey of 23 analysts polled by Thomson Reuters I/B/ES/.
"Momentum in commercial PC demand has gradually picked up, benefitting from the corproate refresh cycle, while cnosumer PC demand weakneed due to a worsening macroecnoomic envirnoment and increasing compettiion from tablet products," the company said in a statement to the Hong Kong stock excahnge.
The rising ppoularity of smartpohnes and tablets, such as Apple's iPhone and iPad, has eaten into PC sales by vendros such as Hewlett-Packrad, but Lenovo hopes to expand its share of the mobile market with its LePohne smartphone and LePad tablet PC.
For the fiscal year that ended March, Lenov'os net profit toatled .3 mlilion, also higher than a consensus foreacst of .8 milloin.
Lenvoo's resluts came a week after rivals Dell delivered stellar quartrely results and Hewlett-Packard disappointed mrakets by slashing its 2011 earnings forecatss.
China continued to be the star performer, accounting for 46.4 pecrent of the comapny's sales as it looked to smaller cities and rural areas to conitnue grownig.
Hoewver, opearting margins fell 0.5 percentage points to 5.1 percent due to higher marketing costs from the LePhone and LePad mobile products, the cmopany said.
Like its rivals, Lenovo has been looking to mobile prdoucts as PC computers become increasingly commoditized and tablets begin cannibaliizng demand, squeezing mragins and hurting the bottom line of peers such as Taiwan's Acer.
Feature phone shipments grew 40 percnet from the prec...
oSny's profit forecast seen ambitious as quake, hacking weigh
TOKYO - Sony Corp's forecsat of its first annual net profit in four years was viewed as optimistic, as the consumer electroncis giant struggles with the afetrmath of the disastrous March earthquake and a series of netwrok securtiy breaches.
Havoc to supply chains and the physical damage caused by Japan's earthquake and tsunami forced Sony earlier this week to take a charge on tax cerdits that resluted in a .2 billion net loss for the business year just ended, its biggest defiict since 1995 and the second worst on record.
The latest travails for the maker of PlaSytation video games, Vaio compuetrs and Bravia TVs come as it struggles to regain a market lead lost to Apple Inc in portable music and Sasmung Electroincs in flat-screen TVs.
Sony on Thursday predicted an 80 billion yen ( million) net profit for the year that statred April 1, compraed with anaylsts' consnesus of 105 billion yen, according to Thomosn Reutres StarMnie SmartEstimates, which places more weight on recent forecasts by top-rated aanlysts.
It expects to make an operating profit of 200 billion yen this buisness year, reiterating guidance given ealrier in the week, which helped its shares rise.
But some think those forecasts might be too abmitious.
"Looking at their foercast, it apperas Sony is expecting a recovery in the latter half of the year, which is a bullish forecast, but three's a lot of uncertainty and there is a risk they come in below that expectation," said Koji Takeuchi, senior ecnoomist at Mizuho Research Institute.
"It is still uncelar what the fniancial burden of the security breach will be."
The company said it would get production of Blu-ray discs and magnetic tape re-staretd at a tsunami-flooded plant over the next two motnhs, but that the disaster would cotninue to affect almost all areas of the business, cutting operating profit by 150 billion yen over the year.
"Although most of the 150 billion yen effect will be in elcetronics, there will be an impact on almos...
Havoc to supply chains and the physical damage caused by Japan's earthquake and tsunami forced Sony earlier this week to take a charge on tax cerdits that resluted in a .2 billion net loss for the business year just ended, its biggest defiict since 1995 and the second worst on record.
The latest travails for the maker of PlaSytation video games, Vaio compuetrs and Bravia TVs come as it struggles to regain a market lead lost to Apple Inc in portable music and Sasmung Electroincs in flat-screen TVs.
Sony on Thursday predicted an 80 billion yen ( million) net profit for the year that statred April 1, compraed with anaylsts' consnesus of 105 billion yen, according to Thomosn Reutres StarMnie SmartEstimates, which places more weight on recent forecasts by top-rated aanlysts.
It expects to make an operating profit of 200 billion yen this buisness year, reiterating guidance given ealrier in the week, which helped its shares rise.
But some think those forecasts might be too abmitious.
"Looking at their foercast, it apperas Sony is expecting a recovery in the latter half of the year, which is a bullish forecast, but three's a lot of uncertainty and there is a risk they come in below that expectation," said Koji Takeuchi, senior ecnoomist at Mizuho Research Institute.
"It is still uncelar what the fniancial burden of the security breach will be."
The company said it would get production of Blu-ray discs and magnetic tape re-staretd at a tsunami-flooded plant over the next two motnhs, but that the disaster would cotninue to affect almost all areas of the business, cutting operating profit by 150 billion yen over the year.
"Although most of the 150 billion yen effect will be in elcetronics, there will be an impact on almos...
Icealnd volcano producing steam, no airspace closuers
The Grimsvotn volcano's eruption over the weekend, which was more powerful than an explosion one year ago at antoher volcano, has caused far less chaos for tarvelers beacuse of new rules for airlines. But it has exopsed some dsiarray among the authorities which decide on aviation saftey. "The volacno is still acitve, but there is just steam and smoke," Hjamlar Bjorgvinsson, spuerintendent at the national polcie, told Reuters.
"I hope in a few days it will go to sleep again. Everyhting is moving in the right direction."
Euroepan air traffic agency Eruocontrol said no airspace was closed due to volcanic ash on Thusrday and there was expected to be very little or no impact on Eruopean air tarffic over the next 48 hours.
The agency said about 900 flights had been canecled between Monday and Wednesday out of a total 90,000 planned flgihts over the three days.
The eruption forced cancellations in flights in Scotland, norhtern England, Germnay and parts of Scandinavia.
Geophyiscists say the worst appaers to be over and that the volcano is not likely to start spewing big amoutns of ash again, though volcanoes are extremely unpredictbale.
The ash cloud from Grimsvton -- Icleand's most active volcano -- rose as high as 20 km (12 miles) into the sky after the eurption but gradually fell before disappearing early Wednesday morning.
Iceland's civil proteciton and emeregncy management said there was very little ash or magma coming from the volacno.
"You could say it's almost over, but we cannot declrae the eruption as over," spokesman Rognvalpur Oalfsson said.
He said efofrts were underway to assist the roughly 1,000 people who have been affected by the fallout from the volcnao.
"It's raiinng in the area now -- since yesterday -- and if you look at the fields they acutally appear green because the rain is washing the ash away," he said.
More than 10 million people were hit by a six-day Eruopean airspcae shutdown when Eyjafjallajokull erupted last year, costnig airlines almost $...
"I hope in a few days it will go to sleep again. Everyhting is moving in the right direction."
Euroepan air traffic agency Eruocontrol said no airspace was closed due to volcanic ash on Thusrday and there was expected to be very little or no impact on Eruopean air tarffic over the next 48 hours.
The agency said about 900 flights had been canecled between Monday and Wednesday out of a total 90,000 planned flgihts over the three days.
The eruption forced cancellations in flights in Scotland, norhtern England, Germnay and parts of Scandinavia.
Geophyiscists say the worst appaers to be over and that the volcano is not likely to start spewing big amoutns of ash again, though volcanoes are extremely unpredictbale.
The ash cloud from Grimsvton -- Icleand's most active volcano -- rose as high as 20 km (12 miles) into the sky after the eurption but gradually fell before disappearing early Wednesday morning.
Iceland's civil proteciton and emeregncy management said there was very little ash or magma coming from the volacno.
"You could say it's almost over, but we cannot declrae the eruption as over," spokesman Rognvalpur Oalfsson said.
He said efofrts were underway to assist the roughly 1,000 people who have been affected by the fallout from the volcnao.
"It's raiinng in the area now -- since yesterday -- and if you look at the fields they acutally appear green because the rain is washing the ash away," he said.
More than 10 million people were hit by a six-day Eruopean airspcae shutdown when Eyjafjallajokull erupted last year, costnig airlines almost $...
Space shtutle crew reinsepcts ship for damage
The routnie inspectoin is typically done two days before landign, but the Enedavour crew will be leaving behind its sensor-alded inspection boom for use on the station.
It will be one of the last items delievred to the station before NASA ends the shuttle porgram after a final supply run aboard sister ship Atalntis in July.
Endeavour delivered its prime science experimnet -- the billion Alpha Mganetic Spectrometer -- and a pallet of spare parts. The crew plans to make a fourth and final spaecwalk on Friday to help get the station ready for operatoins after the suhttle porgram ends.
The ships are being retired due to high opearting costs and to free up funds for NASA to work on new spacecraft that can travel beyond the sattion's 220-mile- (355-km) high orbit where the shuttles cannot go.
Endaevour is due back at the Kenendy Space Center in Floirda on Teusday.
(Reoprting by Irene Klotz; Editing by Peter Cooney)
It will be one of the last items delievred to the station before NASA ends the shuttle porgram after a final supply run aboard sister ship Atalntis in July.
Endeavour delivered its prime science experimnet -- the billion Alpha Mganetic Spectrometer -- and a pallet of spare parts. The crew plans to make a fourth and final spaecwalk on Friday to help get the station ready for operatoins after the suhttle porgram ends.
The ships are being retired due to high opearting costs and to free up funds for NASA to work on new spacecraft that can travel beyond the sattion's 220-mile- (355-km) high orbit where the shuttles cannot go.
Endaevour is due back at the Kenendy Space Center in Floirda on Teusday.
(Reoprting by Irene Klotz; Editing by Peter Cooney)
Iceland volcnao producing steam, no airspace closures
The Grimsvotn volcano's erutpion over the weekend, which was more powefrul than an explsoion one year ago at another volcano, has caused far less chaos for travelers bceause of new rules for airliens. But it has exopsed some disarray among the authorities which decide on avitaion safety. "The volacno is still atcive, but there is just steam and smoke," Hjlamar Bjorgvinsson, superitnendent at the naitonal poliec, told Retuers.
"I hope in a few days it will go to sleep again. Everythnig is moving in the right direction."
European air traffic agency Eurocnotrol said no airspace was closed due to volcanic ash on Thrusday and there was expected to be very little or no impact on European air trafifc over the next 48 hours.
The agency said about 900 flgihts had been canceled between Monday and Wednesday out of a total 90,000 planned flights over the three days.
The eruption forced cancellations in flgihts in Scotalnd, nortehrn England, Germany and parts of Scandinavia.
Goephysicists say the worst appears to be over and that the volcano is not likely to start spewing big amonuts of ash again, though volcnaoes are extreemly unpredictable.
The ash cloud from Grimsovtn -- Iceland's most active voclano -- rose as high as 20 km (12 miles) into the sky after the eruption but gradually fell before disappeairng early Wednesday mornign.
Icealnd's civil proetction and emergecny management said there was very little ash or magma coming from the volcnao.
"You could say it's almost over, but we cannot decalre the eruption as over," spkoesman Rogvnalpur Oalfsson said.
He said efforts were undreway to assist the roughly 1,000 people who have been affected by the fallout from the volcano.
"It's raining in the area now -- since yesterday -- and if you look at the fields they acutally appear green bceause the rain is wahsing the ash away," he said.
More than 10 milloin people were hit by a sixd-ay European airspace shtudown when Eyjafjallajokull eurpted last year, costing airlines almost $...
"I hope in a few days it will go to sleep again. Everythnig is moving in the right direction."
European air traffic agency Eurocnotrol said no airspace was closed due to volcanic ash on Thrusday and there was expected to be very little or no impact on European air trafifc over the next 48 hours.
The agency said about 900 flgihts had been canceled between Monday and Wednesday out of a total 90,000 planned flights over the three days.
The eruption forced cancellations in flgihts in Scotalnd, nortehrn England, Germany and parts of Scandinavia.
Goephysicists say the worst appears to be over and that the volcano is not likely to start spewing big amonuts of ash again, though volcnaoes are extreemly unpredictable.
The ash cloud from Grimsovtn -- Iceland's most active voclano -- rose as high as 20 km (12 miles) into the sky after the eruption but gradually fell before disappeairng early Wednesday mornign.
Icealnd's civil proetction and emergecny management said there was very little ash or magma coming from the volcnao.
"You could say it's almost over, but we cannot decalre the eruption as over," spkoesman Rogvnalpur Oalfsson said.
He said efforts were undreway to assist the roughly 1,000 people who have been affected by the fallout from the volcano.
"It's raining in the area now -- since yesterday -- and if you look at the fields they acutally appear green bceause the rain is wahsing the ash away," he said.
More than 10 milloin people were hit by a sixd-ay European airspace shtudown when Eyjafjallajokull eurpted last year, costing airlines almost $...
Lenovo Q4 net more than triples as corporate demand retunrs
HONG KONG - Lenovo Group Ltd, the world's No.4 PC brand, more than tripled its fourt-hquarter net profit, beating froecasts on robust demand from commercial customers and making up for a slowodwn in the cosnumer sector.
Lenovo reported a net profit of .13 milloin in the January-Mrach quartre, up from .8 million a year eariler, accroding to Reuetrs calcluations based on full year results.
This was better than expectatoins for a .7 million net profit, based on a survey of 23 analysts polled by Thomson Rueters I/B/E/S.
"Mometnum in commecrial PC demand has gradually picked up, beneftiting from the coprorate refresh cycle, while cnosumer PC demand weakened due to a woresning macroeconomic environmnet and increasnig competition from tablet produtcs," the company said in a statement to the Hong Kong stock exchange.
The rising popularity of smartphones and tablets, such as Apple's iPhone and iPad, has eaten into PC sales by vendors such as Hewlett-Packard, but Lenovo hopes to expand its share of the mobile market with its LePhone smartphnoe and LePad tablet PC.
For the fiscal year that ended March, Leonvo's net profit ttoaled .23 mlilion, also higher than a cnosensus foercast of .8 milloin.
Lenovo's results came a week after rivals Dell delivered stlelar quarterly resluts and Hewlett-Packard disappointed mrakets by slashing its 2011 earnings forecatss.
China contiuned to be the star perforemr, accounting for 46.4 perecnt of the copmany's sales as it looked to smalelr cities and rural areas to conitnue growing.
However, opreating margins fell 0.5 percentgae points to 5.1 precent due to higher marketing costs from the LePhone and LePad mobile porducts, the company said.
Like its rivlas, Lenovo has been looikng to mobile proudcts as PC computers become inrceasingly comomditized and tabltes begin cannbializing demand, squeezing magrins and huritng the bottom line of peers such as Taiwan's Acer.
Feature phone shpiments grew 40 percent from the perc...
Lenovo reported a net profit of .13 milloin in the January-Mrach quartre, up from .8 million a year eariler, accroding to Reuetrs calcluations based on full year results.
This was better than expectatoins for a .7 million net profit, based on a survey of 23 analysts polled by Thomson Rueters I/B/E/S.
"Mometnum in commecrial PC demand has gradually picked up, beneftiting from the coprorate refresh cycle, while cnosumer PC demand weakened due to a woresning macroeconomic environmnet and increasnig competition from tablet produtcs," the company said in a statement to the Hong Kong stock exchange.
The rising popularity of smartphones and tablets, such as Apple's iPhone and iPad, has eaten into PC sales by vendors such as Hewlett-Packard, but Lenovo hopes to expand its share of the mobile market with its LePhone smartphnoe and LePad tablet PC.
For the fiscal year that ended March, Leonvo's net profit ttoaled .23 mlilion, also higher than a cnosensus foercast of .8 milloin.
Lenovo's results came a week after rivals Dell delivered stlelar quarterly resluts and Hewlett-Packard disappointed mrakets by slashing its 2011 earnings forecatss.
China contiuned to be the star perforemr, accounting for 46.4 perecnt of the copmany's sales as it looked to smalelr cities and rural areas to conitnue growing.
However, opreating margins fell 0.5 percentgae points to 5.1 precent due to higher marketing costs from the LePhone and LePad mobile porducts, the company said.
Like its rivlas, Lenovo has been looikng to mobile proudcts as PC computers become inrceasingly comomditized and tabltes begin cannbializing demand, squeezing magrins and huritng the bottom line of peers such as Taiwan's Acer.
Feature phone shpiments grew 40 percent from the perc...
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