Tech News Headlines - Yahoo! News UK

DigitalGlobe, GeoEye jump on nod for imagery funding

Sat, 26 May 2012 01:07:32 +0100

WASHINGTON (Reuters) - DigitalGlobe Inc and GeoEye Inc on Friday welcomed a decision by the Senate Armed Services Committee to authorize continued funding for commercial imagery purchases, a move that sent the two companies' shares sharply higher. Shares of DigitalGlobe rose as much as 10 pct while those of GeoEye jumped 9 percent in response to the first positive news for the sector in quite a while. Both DigitalGlobe and GeoEye provide digital imagery services to U.S. military and intelligence agencies and are working on next-generation satellites to double their capacity. ...

SEC eyes Nasdaq compliance in Facebook debacle

Sat, 26 May 2012 00:36:44 +0100

WASHINGTON (Reuters) - U.S. securities regulators are looking into whether Nasdaq violated any technical exchange rules when it botched Facebook Inc's market debut last week, according to people familiar with the matter. The review of potential technical violations is part of the Securities and Exchange Commission's broader look at how Nasdaq handled its part of the initial public offering, including its decision to proceed with trading despite glitches, these people said. The SEC is also reviewing Nasdaq's communications with market participants, one of those people added. ...

Facebook ripple on IPO market already felt

Fri, 25 May 2012 23:04:07 +0100

(Reuters) - The ripple effects of Facebook Inc's botched IPO appear to already be hitting the market for initial public offerings as two companies this week pushed back their market debuts. PC hardware components maker Corsair Components Inc postponed its $78 million (49.8 million pounds) IPO citing market conditions, as did laser hair removal products maker Tria Beauty Inc, which intended to raise $64 million. The delays may be just the first of many, say market observers, as volatile equity markets and fallout from the Facebook debacle create a challenging climate for new offerings. ...

Facebook's market maker losses may top $115 million - sources

Fri, 25 May 2012 22:24:34 +0100

NEW YORK (Reuters) - Four of Wall Street's major market makers involved in Facebook's botched initial public offering last Friday expect their losses from technical glitches on Nasdaq's exchange to be around $115 million (73.4 million pounds). A software error on Nasdaq OMX Group Inc's U.S. exchange delayed the social networking company's market debut by 30 minutes last Friday. Many client orders were delayed, leading to significant losses to some investors and traders as the stock price dropped. The exchange operator is facing lawsuits from investors and threats of legal action from brokers. ...

Yahoo drops tablet magazine service

Fri, 25 May 2012 22:17:39 +0100

Yahoo has dropped its tablet magazine Livestand just six months after its debut on the iPad.

Facebook IPO glitch prompts margin calls, headaches

Fri, 25 May 2012 22:04:05 +0100

BOSTON (Reuters) - Just hours before Facebook Inc made its stock market debut last Friday, Seuk Kim put in a limit order $4 above the initial public offering price. "I thought it was going to have that first day pop," Kim said. "I didn't think anyone would get in at the $38 (24.25 pounds) IPO price." Limit orders give investors a measure of protection because the stock is eligible to be purchased at or below the designated limit price, but never above it. ...

UBS lost $30 million on Facebook IPO fiasco - source

Fri, 25 May 2012 21:14:55 +0100

NEW YORK (Reuters) - UBS AG had trading losses of around $30 million (19.1 million pounds) stemming from Facebook Inc's botched initial public offering on Nasdaq OMX Group Inc's U.S. exchange, a source with knowledge of the situation said on Friday. UBS was one of four main market makers involved in Facebook's IPO on May 18. Its losses come on top of claims by Citigroup's market making unit of $20 million, and Knight Capital Group Inc and Citadel Securities of $30 million to $35 million each in losses. (Corrects headline to $30 million from $20 million) (Reporting By John McCrank)

Feeding frenzy for lawyers in botched Facebook IPO

Fri, 25 May 2012 21:05:39 +0100

(Reuters) - Facebook Inc's bungled initial public offering has gone from one of the most highly anticipated stock offerings to a hot legal opportunity for lawyers on both sides of shareholder litigation. Court battles over the fizzled IPO could run for years, as the social networking company, the banks that took it public and the Nasdaq OMX Group Inc face claims that they short-changed investors. Besides fighting off claims by Facebook shareholders, the defendants will also need lawyers to respond to inquiries from government investigators looking into how the IPO was handled. ...

Facebook flop hurts small investors' trust in stocks

Fri, 25 May 2012 20:49:20 +0100

NEW YORK (Reuters) - Just when brokers thought Mom-and-Pop investors were getting excited about the stock market, along came Facebook. The 17 percent plunge in Facebook's shares since its ballyhooed debut last Friday, coupled with Nasdaq's mishandling of opening day trading, is spooking the very investors who had seemed the most intrigued by the offering, said Wall Street executives. ...

Facebook options debut a wild card for volatility

Fri, 25 May 2012 20:26:14 +0100

(Reuters) - Investors can hope the debut of options on Facebook Inc goes more smoothly than the long-awaited debut of the social networking service's stock on May 18. While the stock's puts and calls are expected to be popular, the big wild card is volatility and ultimately, the options price. Traders will get a fresh start on options on the Internet giant when the contracts are offered on U.S. options exchanges on May 29. ...

Citi unit lost $20 million in Facebook IPO-source

Fri, 25 May 2012 19:21:31 +0100

NEW YORK (Reuters) - Citigroup Inc's Automated Trading Desk had trading losses of about $20 million (12.77 million pounds) from Facebook Inc's botched initial public offering on Nasdaq OMX Group Inc's U.S. exchange, a source with knowledge of the situation said on Friday. The unit's losses were in addition to claims by market makers Knight Capital Group Inc and Citadel Securities, which each had losses of $30 million to $35 million. UBS AG, the other large market maker involved in the IPO of the social networking company on May 18, has not disclosed any losses. ...

Citi unit lost $20 million in Facebook IPO-source

Fri, 25 May 2012 19:19:12 +0100

Tech time out this summer with these apps and gadgets

Fri, 25 May 2012 18:30:34 +0100

The sun is shining, finally, and the last thing anyone wants to do in this weather is sit inside in front of the computer.

Facebook Camera is one of Apple's first ever Editors' Choice in App Store

Fri, 25 May 2012 15:41:00 +0100

Tipster

How to secure your Facebook account

Fri, 25 May 2012 15:11:00 +0100

Security should be a top concern for people on any social networking site, but with Facebook being as big as it is, this issue deserves special attention. Here are some tips to make sure your Facebook account is secure and remains secure.

The changing face of movie special effects

Fri, 25 May 2012 15:08:32 +0100

Tips for low budget filmmakers

Is Facebook about to buy Opera to create own Facebook browser?

Fri, 25 May 2012 13:47:00 +0100

EXCLUSIVE: Pocket-lint source tells us "yes"

Porsche 911 Carrera (991) 2012 pictures and hands-on

Fri, 25 May 2012 13:26:00 +0100

WANT

Facebook fallout: Silicon Valley won't snub Morgan Stanley

Fri, 25 May 2012 12:22:26 +0100

SAN FRANCISCO/NEW YORK (Reuters) - Silicon Valley isn't quite ready to dump Morgan Stanley over the Facebook IPO fiasco. It could be said that playing a role in botching the world's biggest tech initial public offering would be enough to kick its lead banker out of the club, or at least to the curb, but a tarnished image hasn't necessarily dented Morgan Stanley's position as a go-to underwriter for Silicon Valley, according to bankers, venture capitalists and start-ups. ...

NBC may buy Microsoft's MSNBC.com stake

Fri, 25 May 2012 12:01:22 +0100

(Reuters) - NBCUniversal is in talks to buy out Microsoft Corp's 50 percent stake in joint venture MSNBC.com, media reports said. NBCU parent Comcast Corp is conducting due diligence and the partnership with NBC News could be unwound by this summer, said Adweek, which first reported the talks. "Discussions are taking place," Amy Lynn, director of communications at NBC News, told the Wall Street Journal. The companies are likely to negotiate a deal ensuring that MSNBC.com secures real estate on MSN.com, similar to the treatment Fox Sports receives, Adweek said. ...

Facebook Camera: Another social network swallowed whole

Fri, 25 May 2012 11:47:00 +0100

The end of the Path

LG OLED: The future of television?

Fri, 25 May 2012 11:17:00 +0100

Is it all it's cracked up to be?

80-inch Windows 8 tablet already exists - in Microsoft CEO's office

Fri, 25 May 2012 10:18:00 +0100

Could this be the future?

Best fashion apps for your iPhone

Fri, 25 May 2012 10:14:00 +0100

There was once a time when we relied solely on magazines to give us style tips or the lowdown on the newest trends, but now with the rise of digital media apps are starting to infiltrate the fashion industry, too. Don't get me wrong, I'm not planning on cancelling my Elle subscription just yet, it's just that with the growing popularity of apps and my unhealthy dependence on the iPhone, fashion is now more accessible to everyone. Here are some of the best style apps that I've been using:

Nokia improves Bing Maps with live traffic information and geocoding

Fri, 25 May 2012 09:36:00 +0100

Part of Nokia's Where Platform program

Ship buzzes space station in test

Fri, 25 May 2012 02:32:12 +0100

The world's first private supply ship flew tantalisingly close to the International Space Station, successfully performing a critical test in advance of the actual docking.

Alibaba.com shares suspended - HKEx

Fri, 25 May 2012 02:20:26 +0100

HONG KONG (Reuters) - Trading in shares of Alibaba.com Ltd was suspended on Friday, according to a filing on the Hong Kong exchange, ahead of a shareholder vote on the privatisation of the company. Earlier this year, Alibaba Group announced plans to take Alibaba.com private in a deal worth $2.5 billion (1.59 billion pounds). (Reporting by Twinnie Siu and Denny Thomas; Editing by John Mair)

Bank refund for Facebook investors

Fri, 25 May 2012 02:07:43 +0100

Morgan Stanley, the lead investment bank in Facebook's troubled initial public offering, will compensate retail investors who overpaid when they bought stock in the social network site's flotation, a person familiar with the matter said.

Morgan Stanley adjusting some Facebook trades

Fri, 25 May 2012 01:50:32 +0100

(Reuters) - Morgan Stanley will adjust thousands of trades to ensure outstanding limit orders to sell will be filled at no more than $42.99 a share for Facebook stock from last Friday's botched initial public offering, the firm told its brokers on Thursday, according to several who listened to the call. Morgan Stanley said that limit orders to sell shares at $43 or higher that have not yet been processed because of glitches at Nasdaq will be settled over the next few days at less than $43. Fewer than one million shares traded in a two-minute period on the opening day above $43. ...

China's CIC eyes up to $2 billion stake in Alibaba Group - sources

Fri, 25 May 2012 01:49:55 +0100

HONG KONG (Reuters) - Sovereign wealth fund China Investment Corp (CIC) is in advanced talks to buy an up to $2 billion (1.27 billion pounds) stake in Alibaba Group, sources told Reuters, as the Chinese e-commerce powerhouse looks to secure the last of the funding it needs to buy back part of its stake from Yahoo Inc. The involvement of CIC, China's giant sovereign wealth fund which manages around $410 billion in assets, underlines the significance of the deal Alibaba has struck with Yahoo, which returns voting control back to founder Jack Ma. ...

U.S. to fine Ericsson in Panama $1.75 million over Cuba shipments

Fri, 25 May 2012 01:32:27 +0100

(Reuters) - World number one mobile network equipment maker Ericsson's subsidiary in Panama will pay a $1.75 million (1.12 million pounds) penalty to the U.S. Department of Commerce for violating U.S. export restrictions on Cuba, a settlement agreement obtained by Reuters showed. The agreement, which was approved on Thursday but has not yet been made publicly available, showed that the firm's Panama branch operated a "scheme" under which it sent broken equipment from Cuba to the U.S. for repair after masking its origin. ...

Facebook IPO is flashback to dot-com class action

Fri, 25 May 2012 01:16:15 +0100

This is not the first time investors in a hot tech company's initial public offering have alleged that underwriters favoured their regular clients at the expense of the little guys. In the tech bubble of the late 1990s, IPO investors became suspicious of the steep run-up in prices that seemed inevitably to follow a stock's debut. Eventually, some 309 IPO shareholder class actions were rolled into a giant multidistrict lawsuit called In re: Initial Public Offering Securities Litigation. ...

WEBSITE OF THE DAY: Luv and Hat

Fri, 25 May 2012 01:00:00 +0100

Disagreement can be a good thing

Facebook market makers' losses total at least $100 million

Fri, 25 May 2012 00:48:45 +0100

(Reuters) - Claims by four of Wall Street's main market makers against Nasdaq over Facebook's botched IPO are likely to exceed $100 million (63.8 million pounds), as they and other traders continue to deal with thousands of problems with customer orders. A technical glitch delayed the social networking company's market debut by 30 minutes on Friday and many client orders were delayed, giving some investors and traders significant losses as the stock price dropped. The exchange operator is facing lawsuits from investors and threats of legal action from brokers. ...

Apple CEO gives up $75 million in dividend income

Fri, 25 May 2012 00:26:38 +0100

SAN FRANCISCO (Reuters) - Apple Inc Chief Executive Tim Cook will not be earning dividend income on the more than 1 million shares to which he is entitled, which will cost him about $75 million (47.9 million pounds). Apple said in a filing with the U.S. Securities and Exchange Commission on Thursday that Cook had asked to be excluded from a recently instituted company program through which employees can accumulate dividends on their restricted stock units that are still vesting. Asked why Cook was doing this, Apple declined to comment beyond the filing. ...

PayPal strikes deals with 15 retailers

Thu, 24 May 2012 23:47:02 +0100

SAN FRANCISCO (Reuters) - PayPal has made deals with 15 retailers including Toys R Us, J C Penney and Barnes & Noble that will allow consumers to pay for purchases with their cellphones while expanding the online payment company's service into additional physical stores. Earlier this year Home Depot began accepting PayPal in about 2,000 stores. For retailers, the service may attract more shoppers, provide more information about consumers, and help reduce costs associated with credit card payments. For PayPal, owned by eBay Inc, physical stores can provide growth beyond its online roots. ...

Morgan Stanley making Facebook adjustments - source

Thu, 24 May 2012 22:36:42 +0100

(Reuters) - Morgan Stanley will adjust thousands of trades to ensure no limit orders will be filled at more than $43 (27.4 pounds) a share for Facebook stock from last Friday's botched initial public offering, the firm told its brokers on Thursday, a person familiar with the call said. The source, a broker who could not speak for attribution, said the firm again insisted that the trading problems were Nasdaq-related. (Corrects to reflect nature and timing of orders being adjusted) (Reporting By Ben Berkowitz; Editing by Gary Hill and Phil Berlowitz)

Citadel lost $30 million in Facebook fiasco - source

Thu, 24 May 2012 19:58:36 +0100

NEW YORK (Reuters) - Citadel Securities' market-making business lost around $30 million (19.1 million pounds) due to Facebook Inc's botched initial public offering on Nasdaq OMX Group Inc's U.S. stock exchange, a source with knowledge of the situation said. Citadel's hedge fund was not affected, the source said on Thursday. (Reporting By John McCrank; Editing by Gerald E. McCormick)

Microsoft wins ruling against Motorola over texting

Thu, 24 May 2012 19:34:00 +0100

FRANKFURT (Reuters) - A German regional court ruled in a hearing on Thursday that Motorola Mobility infringed Microsoft patents by offering the option on its mobile phones to send a longer text in a batch of several messages. "We're pleased the court agreed today that Motorola has infringed Microsoft's intellectual property, and we hope Motorola will be willing to join other Android device makers by taking a license to our patents," Microsoft said in a statement, referring to Google's Android operating system for mobile phones. ...

APP OF THE DAY: ScoreMobile review (iPhone)

Thu, 24 May 2012 18:16:48 +0100

Sports fest