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)
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