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  • Tokyo Court orders bankruptcy trustee to begin Mt. Gox liquidation

    Reuters - 21 minutes ago

    Tokyo District Court ordered liquidation to begin at failed bitcoin exchange Mt. Gox, the company said on Thursday, after the bankruptcy administrator said on April 16 that it would be difficult to rehabilitate the firm. Mt. Gox, once the largest bitcoin exchange in the world, filed for bankruptcy protection on February 28, saying that 750,000 of its customers' bitcoins had been taken from the exchange due to a security flaw in its code, as well as 100,000 belonging to the exchange. A document uploaded onto its website and signed by bankruptcy administrator, attorney Nobuaki Kobayashi, said that he would conduct an investigation regarding the liability of the representative director of the company, Mark Karpeles, regarding the missing assets. A group of investors under the umbrella of a company called Sunlot made a last-ditch attempt in mid-April to prevent the liquidation of the exchange, bidding to take over Mt. Gox in order to retrieve the cryptocurrency and cash belonging to its 127,000 creditors. More »Tokyo Court orders bankruptcy trustee to begin Mt. Gox liquidation

  • Five smartwatches available or coming soon

    Pocket-lint - 30 minutes ago

    Smartwatches are all the rage at the moment, with Samsung launching two devices alongside its latest flagship phone, Google announcing the Android Wear operating system, and more and more details appearing on the LG G Watch. Just like the Gear 2, the Gear 2 Neo comes with a range of fitness sensors such as a heart rate sensor, pedometer, gyroscope and accelerometer and it can also be used to track sleep and stress levels, claims Samsung. More »Five smartwatches available or coming soon

  • Facebook revenue soars nearly 70%

    Press Association - 3 hours ago

    Social network giant Facebook has reported an increase in revenue and profit despite recent acquisitions, the company's quarterly figures show tonight. More »Facebook revenue soars nearly 70%

  • Year-on-year revenue rise for Apple

    Press Association - 3 hours ago

    Technology giant Apple has experienced a revenue boost on the same time last year, its quarterly figures show tonight. More »Year-on-year revenue rise for Apple

  • Qualcomm's quarterly revenue growth dwindles, shares fall

    Reuters - 6 hours ago

    By Noel Randewich SAN FRANCISCO (Reuters) - Qualcomm Inc on Wednesday posted its smallest quarterly revenue increase since 2010 as it wrestles with a smartphone market that is losing steam and shifting to China, sending its shares lower. With expansion in the smartphone industry moving away from wealthy markets such as the United States and toward China and other developing countries, where consumers favour less expensive devices, Qualcomm's once-impressive revenue growth is tapering off and it is focusing on costs to preserve its profitability. It was far lower than the quarterly growth rates of over 20 percent that Qualcomm investors until recently have been accustomed to. Less growth than expected in recent months in China, where China Mobile is preparing to launch a new, faster network with 4G, or LTE, technology, hurt Qualcomm's results in the quarter, Chief Executive Steve Mollenkopf told Reuters. More »Qualcomm's quarterly revenue growth dwindles, shares fall

  • Qualcomm faces China bribery allegations from U.S. regulator

    Reuters - 6 hours ago

    By Noel Randewich SAN FRANCISCO (Reuters) - Leading mobile chipmaker Qualcomm said on Wednesday it could face a civil action from U.S. authorities over alleged bribery of officials associated with state-owned companies in China. With smartphone sales tapering off in the United States, China is a major market for Qualcomm, but doing business there has included disagreements over royalties and an antitrust investigation. In its fiscal second-quarter report, Qualcomm said it has received a notice from the Securities and Exchange Commission's Los Angeles office advising it of a preliminary determination to recommend an enforcement action against the company for violating the Foreign Corrupt Practices Act (FCPA). Qualcomm said the civil action could seek remedies including "disgorgement of profits, the retention of an independent compliance monitor to review the company's FCPA policies and procedures, an injunction, civil monetary penalties and prejudgment interest." Qualcomm said it first learned of and disclosed the SEC investigation in 2012. More »Qualcomm faces China bribery allegations from U.S. regulator

  • Mexico's Slim, Telekom Austria reach ownership deal

    Reuters - 6 hours ago

    By Georgina Prodhan and Dave Graham VIENNA/MEXICO CITY (Reuters) - Mexico's Carlos Slim struck an 11th-hour deal on Wednesday with the Austrian government that could give him effective control of Telekom Austria and allow the multi-billionaire to consolidate his foothold in Europe as he expands outside the Americas. Slim's telecoms group, America Movil, agreed to back a 1 billion euro capital increase for Telekom Austria and to pay 7.15 euros a share for the company's outstanding stock, in a co-ownership deal combining its stake with that of Austrian state holding company OIAG. The agreement is a coup for America Movil, which is facing increasing regulation and competition in Latin America, especially in its home market of Mexico. Rudolf Kemler, the head of OIAG, said in a statement the accord guaranteed a blocking minority and key posts at the state holding company and would enable Telekom Austria to embark on "massive growth" in Eastern and Central Europe. More »Mexico's Slim, Telekom Austria reach ownership deal

  • Facebook first-quarter revenue grows 72 percent on rising mobile ads

    Reuters - 6 hours ago

    By Alexei Oreskovic SAN FRANCISCO (Reuters) - Facebook Inc's mobile advertising business accelerated in the first three months of the year, helping the Internet social networking company top Wall Street's financial targets. Shares of Facebook were up nearly 3 percent at $63.05 (37.57 pounds) in after-hours trading on Wednesday. Facebook said that mobile ads represented 59 percent of its ad revenue in the first quarter, up from 30 percent in the year-ago period. Facebook's overall revenue grew 72 percent year-on-year to $2.5 billion in the first quarter, above the $2.36 billion expected by analysts polled by Thomson Reuters I/B/E/S. "They've got the right products for what advertisers are looking for and that's manifesting itself in the results you're seeing," said JMP Securities analyst Ronald Josey. More »Facebook first-quarter revenue grows 72 percent on rising mobile ads

  • Facebook's next growth engines still warming up

    Reuters - 7 hours ago

    By Alexei Oreskovic SAN FRANCISCO (Reuters) - Facebook Inc has a message for Wall Street: Don't expect new revenue streams anytime soon. The world's No. 1 Internet social network delivered its strongest revenue growth in several years during the first quarter, as its mobile ad business gained steam. But even as Facebook gave investors the good news, buoying its stock by roughly 3 percent in after-hours trading, the company made it clear that other money-making efforts such as video ads and ads within its Instagram photo-sharing app would not bear fruit in the near future. "Many folks were anticipating a next leg of growth." Facebook Chief Operating Officer Sheryl Sandberg told analysts on a conference call on Wednesday that Instagram ads, video ads and a nascent mobile ad network were all still in experimental phases and that none of them would make a meaningful contribution to revenue in 2014. More »Facebook's next growth engines still warming up

  • All at sea: global shipping fleet exposed to hacking threat

    Reuters - 7 hours ago

    By Jeremy Wagstaff SINGAPORE (Reuters) - The next hacker playground: the open seas - and the oil tankers and container vessels that ship 90 percent of the goods moved around the planet. Somali pirates help choose their targets by viewing navigational data online, prompting ships to either turn off their navigational devices, or fake the data so it looks like they're somewhere else; While data on the extent of the maritime industry's exposure to cyber crime is hard to come by, a study of the related energy sector by insurance brokers Willis this month found that the industry "may be sitting on an uninsured time bomb". Globally, it estimated that cyber attacks against oil and gas infrastructure will cost energy companies close to $1.9 billion by 2018. More »All at sea: global shipping fleet exposed to hacking threat

  • FCC to propose pay-for-priority Internet standards

    Associated Press - 8 hours ago

    LOS ANGELES (AP) — The Federal Communications Commission is set to propose new open Internet rules that would allow content companies to pay for faster delivery over the so-called "last mile" connection to people's homes, but enhance scrutiny of such deals so they don't harm competition or limit free speech. More »FCC to propose pay-for-priority Internet standards

  • U.S. judge denies Apple's move to hold off e-book antitrust trial

    Reuters - 8 hours ago

    A U.S. federal judge denied a bid by Apple Inc on Wednesday to hold off a trial in a case brought by state attorneys general accusing the company of conspiring with five major publishers to fix e-book prices. U.S. District Judge Denise Cote in a brief order said the July 14 trial had already been postponed once and should go forward, paving the way for more than two dozen states to pursue hundreds of millions of dollars in damages. Following a non-jury trial last year, Cote found that Apple from 2009 to 2010 conspired with the publishers to raise e-book prices and impede competitors such as Amazon.com Inc. The trial to assign damages was supposed to be held in May but it was pushed back two months to allow adequate time for class notification, Cote's order said. "The district court is ... pressing forward with class notice and a trial in both cases in July, despite the irreparable harm to Apple's reputation among its consumers if class notice is disseminated," the company said in its filing at the 2nd U.S. Circuit Court of Appeals. More »U.S. judge denies Apple's move to hold off e-book antitrust trial

  • Apple expands buybacks by $30 billion, OKs 7-for-1 stock split

    Reuters - 8 hours ago

    By Edwin Chan SAN FRANCISCO (Reuters) - Apple Inc has approved another $30 billion (17.8 billion pounds) in share buybacks till the end of 2015 and authorized a rarely seen seven-for-one stock split, addressing calls to share more of its cash hoard while broadening the stock's appeal to individual investors. Activist investor Carl Icahn, who had famously called on the iPhone maker to boost its buyback program, tweeted his approval of the move on Wednesday. On Wednesday, Apple reported sales of 43.7 million iPhones in the quarter ended March, far outpacing the roughly 38 million that Wall Street had predicted. But whether Apple can again produce a revolutionary new product remains the central question in investors' and Silicon Valley executives' minds. More »Apple expands buybacks by $30 billion, OKs 7-for-1 stock split

  • Apple slice: Share split makes joining the Dow more likely

    Reuters - 8 hours ago

    Who says Apple does not want to be in the Dow Jones industrial average? The iPhone maker's market value has stood high above most U.S. corporations' for a few years, yet Apple still isn't a component of that blue-chip stock benchmark. That is because the Dow weighs its 30 components by price, so a $500 (297.78 pounds) stock would overwhelm the index. A seven-for-one stock split that will chop the price to about $75 changes the picture. More »Apple slice: Share split makes joining the Dow more likely

  • Apple increases stock buyback, will split stock

    Associated Press - 9 hours ago

    SAN FRANCISCO (AP) — Apple is doling out more of its cash to shareholders and preparing to split its stock for the first time in nine years in an attempt to win back investors fretting about the iPhone maker's slowing sales growth and pace of innovation. More »Apple increases stock buyback, will split stock

  • Zynga's Pincus withdraws from operations amid turnaround

    Reuters - 10 hours ago

    By Malathi Nayak SAN FRANCISCO (Reuters) - Zynga Inc co-founder Mark Pincus is relinquishing the last of his operational duties at the social gaming company starting on Wednesday and retreating to an advisory role as Chief Executive Officer Don Mattrick pushes through a restructuring plan. Zynga shares were up 5 percent in after-hours trading on Wednesday after closing at $4.42 on the Nasdaq. Pincus, who remains chairman of the board, has decided to move on from day-to-day operations as chief product officer, Zynga said in a statement. He has been stepping back from the company that once dominated gaming on Facebook with "Farmville" and raked in over $1 billion (595 million pounds) in revenues, but is losing users to mobile game developers. More »Zynga's Pincus withdraws from operations amid turnaround

  • Slowest broadband streets named

    Press Association - 10 hours ago

    A street in Wales and another in Essex have been declared the slowest in the UK for broadband speeds in a new report. More »Slowest broadband streets named

  • Zynga founder Pincus leaving operations role

    Associated Press - 10 hours ago

    NEW YORK (AP) — Online game maker Zynga's founder Mark Pincus is stepping down as chief product officer, less than a year after he was replaced as the company's CEO, as the company's sales slide. More »Zynga founder Pincus leaving operations role

  • Facebook 1Q results soar; CFO to step down

    Associated Press - 10 hours ago

    NEW YORK (AP) — Facebook's earnings nearly tripled and revenue grew sharply in the first quarter, surpassing Wall Street's expectations thanks to an 82 percent increase in advertising revenue. More »Facebook 1Q results soar; CFO to step down

  • Brazil enacts Internet 'Bill of Rights'

    Associated Press - 10 hours ago

    SAO PAULO (AP) — Brazil's president signed into law on Wednesday a "Bill of Rights" for the digital age that aims to protect online privacy and promote the Internet as a public utility by barring telecommunications companies from charging for preferential access to their networks. More »Brazil enacts Internet 'Bill of Rights'

  • Facebook first revenue grows 72 percent on rising mobile ads

    Reuters - 11 hours ago

    By Alexei Oreskovic SAN FRANCISCO (Reuters) - Facebook Inc's mobile advertising business accelerated in the first three months of the year, helping the Internet social networking company top Wall Street's financial targets. Shares of Facebook were up nearly 3 percent at $63.05 (37.57 pounds) in after-hours trading on Wednesday. Facebook said that mobile ads represented 59 percent of its ad revenue in the first quarter, up from 30 percent in the year-ago period. Facebook's overall revenue grew 72 percent year-on-year to $2.5 billion in the first quarter, above the $2.36 billion expected by analysts polled by Thomson Reuters I/B/E/S. "They've got the right products for what advertisers are looking for and that's manifesting itself in the results you're seeing," said JMP Securities analyst Ronald Josey. More »Facebook first revenue grows 72 percent on rising mobile ads

  • High court nixes $3.4M award to child porn victim

    Associated Press - 11 hours ago

    WASHINGTON (AP) — The Supreme Court on Wednesday rejected a plea to make it easier for victims of child pornography to collect money from people who view their images online, throwing out a nearly $3.4 million judgment in favor of a woman whose childhood rape has been widely seen on the Internet. Two dissenting justices said Congress should change the law to benefit victims. More »High court nixes $3.4M award to child porn victim

  • Some notable social media gaffes, missteps

    Associated Press - 12 hours ago

    A feel-good Twitter request by the New York Police Department asking for pictures of people posing with officers quickly turned ugly when hundreds instead posted shots of baton-wielding cops battling protesters and taking down suspects. Other recent examples of Twitter gaffes: More »Some notable social media gaffes, missteps

  • Apple increases stock buyback, raises dividend

    Associated Press - 12 hours ago

    CUPERTINO, Calif. (AP) — Apple plans to buy back an additional $30 billion of its stock and raise its quarterly dividend by 8 percent amid a slowdown in revenue growth. More »Apple increases stock buyback, raises dividend

  • Boogeymen and shady deals define spin for Senate

    Associated Press - 12 hours ago

    WASHINGTON (AP) — The fight for the Senate majority boils down to boogeyman billionaires against the shifty septuagenarian — if party operatives' spin is to be believed. More »Boogeymen and shady deals define spin for Senate

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