|
AP Technology NewsBrief at 3:35 p.m. EST
(Associated Press Via Acquire Media NewsEdge) Facebook creates dual-class stock structureNEW YORK (AP) _ Facebook has created a dual-class stock structure designed to give existing shareholders control over the company. The social network says the move announced Tuesday shouldn't be seen as a sign that it's planning to go public.
Senators press EU to speed its Oracle-Sun probeSAN FRANCISCO (AP) _ U.S. senators are pressuring European antitrust regulators to hurry their investigation of Oracle Corp.'s proposed acquisition of Sun Microsystems Inc., citing Sun's "precarious" financial condition and fears about more layoffs at the struggling computing company. A group of 59 senators outlined the concerns in a letter Tuesday to the European Commission, which has held up the $7.4 billion deal over worries that Oracle would be too dominant in the market for database software.
Rare economic espionage case ends in jury deadlockSAN FRANCISCO (AP) _ Two men accused of the rare charge of economic espionage against the U.S. have been acquitted on two counts, but they could face a retrial on three other counts on which a jury deadlocked. Lan Lee and Yuefei Ge were the first defendants to go to a jury trial on a charge of economic espionage, which alleges that someone stole trade secrets from a U.S. company with the intent to benefit a foreign government. Their case was being heard in U.S. District Court in San Jose, Calif.
HP profit jumps on cost cuts, new market expansionSAN FRANCISCO (AP) _ Hewlett-Packard Co.'s cost-cutting and push into new markets is helping soften the blow from weakness in the company's mainstay businesses. HP on Monday reported big revenue declines in four of its main divisions _ PCs, servers, software and printers _ in the latest quarter. A bright spot was technology services, a division HP beefed up last year with the $13.9 billion acquisition of Electronic Data Systems and which posted better profits. HP is eliminating 24,600 jobs as part of that takeover.
Joost assets bought by online ad company AdconionNEW YORK (AP) _ The struggling online video startup Joost, begun with much fanfare by the creators of Skype and Kazaa, has been sold to an online advertising company. Adconion Media Group said Tuesday it bought Joost assets for an undisclosed sum. These include the technology behind Joost's video platform and the Joost trademark.
EU drops Qualcomm antitrust probeBRUSSELS (AP) _ European Union antitrust regulators on Tuesday dropped a monopoly abuse probe into wireless chip maker Qualcomm Inc. after mobile phone companies withdrew complaints about high royalty fees. Broadcom Corp., NEC Corp., Nokia Corp., LM Ericsson, Panasonic Mobile Communications and Texas Instruments Inc. backed off complaints they made in October 2005 that Qualcomm broke agreements among patent holders to keep costs at reasonable levels for key WCDMA patents used in third-generation phones.
Friends go online at Foursquare to meet offlineSAN FRANCISCO (AP) _ Laura Fitton's ascent has been staggering: In less than a year, she's become mayor of nine different places in several different states, all without giving any speeches or kissing any babies. Instead, Fitton has gone out. A lot. And that's allowed her to build an empire in the world of a rapidly growing Internet startup called Foursquare, which rewards users with points and virtual "mayorships" for checking in on their cell phones when they're out and about.
Top 2 booksellers report losses, their shares fallNEW YORK (AP) _ Barnes & Noble Inc. and Borders Group Inc., the nation's two largest brick-and-mortar book sellers, both posted quarterly losses Thursday and forecast a difficult holiday season, saying competition from discount chains and online retailers is stiffening. Barnes & Noble, the larger of the two, also cut its forecast for annual profit, and shares of both retailers fell.
Nokia to ax 220 R&D jobs in JapanHELSINKI (AP) _ Nokia Corp. said Tuesday it is axing 220 jobs at research and development units in Japan as the world's largest mobile phone maker continues to cut costs. Last week it announced 330 job cuts in Finland and Denmark at its R&D operations that globally employ 17,000 workers.
Canada woman to fight insurance co. over FacebookMONTREAL (AP) _ A Canadian woman on sick leave for depression said Monday she would fight an insurance company's decision to cut her benefits after her agent found photos on Facebook of her vacationing, at a bar and at a party. Nathalie Blanchard said Monday she was diagnosed with major depression and was receiving monthly sick-leave benefits until payments dried up this fall.
(c) 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
[ Back To Homepage ]
|