Wednesday, September 30, 2015
LG Electronics says handset sales to improve starting in fourth quarter
SoftBank leads $1 billion investment in U.S. fintech startup SoFi
Toronto eyes ride-sharing rules in 2016; Uber asked to halt until then
Toronto eyes ride-sharing rules in 2016; Uber asked to halt until then
Tencent, eBay join Kakao bid for new South Korean Internet bank
Kakao Corp, the operator of South Korea's largest mobile messaging app, said Tencent Holdings Ltd and eBay Inc have joined its bid for a new South Korean Internet bank license. Tencent and eBay will make their investments through subsidiaries, which are expected to take stakes of 4 percent or less in the bank should a license be gained, a Kakao spokesman said. He declined to comment on financial terms.South Korea is expected to grant one or two licenses for Internet banks this year. Kakao's bid is one of at least three known bids. An Internet bank provides banking and financial services without physical branches. (Reporting by Joyce Lee; Editing by Edwina Gibbs)
Argentina celebrates second satellite launch, technology milestone
With the launch of its second telecommunications satellite made in Argentina on Wednesday, President Cristina Fernandez celebrated the country's technology milestone and wants the South American nation to manufacture eight more over the next 20 years.Launched from French Guyana atop an Ariane 5 rocket, the satellite will provide telecommunications services across much of the western hemisphere. Argentina last year launched its first satellite which provided country-wide coverage.The geostationary satellite reduces Argentina's reliance on foreign satellites. Its construction is a source of national pride and a relatively new industry for the country, which hopes to export its technology.Fernandez's government, which has faced a drought of good news lately in view of double-digit inflation and a stagnant economy, has been celebrating the launch under the Twitter hashtag #satellitesovereignty.Argentines go to polls on Oct. 25 to elect a new president. While Fernandez cannot run for a third consecutive term, she has endorsed the candidacy of Buenos Aires Province Governor Daniel Scioli. Many Argentines expect she may run again in the future. "The future has arrived, today we saw it take off," Fernandez said in a televised speech. "And in parliament we are going to institutionalize it."Fernandez said her government was sending a new draft law to Congress to promote the satellite industry in Argentina, saying it would require investment worth $1.201 billion. She foresees building eight more satellites over the next 20 years, some of which will be sold abroad, adding that Buenos Aires had invested $1.05 billion in the satellite industry since 2003.Fernandez said the satellite launch was proof that the country had also left its 2001/02 economic crash far behind it. The president gave much of the credit to her predecessor and late husband Nestor Kirchner, who created Argentina's satellite company Arsat back in 2006 and oversaw strong economic growth during his 2003-2007 mandate. (Reporting by Sarah Marsh and Maximiliano Rizzi; Editing by Lisa Shumaker)
As Twitter, Square interests converge, CEO Dorsey risks conflicts
If Jack Dorsey becomes permanent CEO of both Twitter Inc and mobile payments company Square, he could struggle with conflicts of interest in the business that is key to both companies' futures: e-commerce.Corporate governance experts and some investors have already expressed concern that Dorsey faced tough choices in his role as interim Twitter chief and head of Square. That intensified on Wednesday after a report by technology news website Re/code that Dorsey is expected to be named permanent chief executive at Twitter as early as Thursday, while keeping his job at Square. “The biggest conflict would simply be the allocation of his time,” Esther Dyson, an early Square investor who holds several board and advisory positions at tech companies, told in an email on Tuesday. “CEO is a full-time job.” Neither company commented on the Re/code report. Dorsey has acknowledged the risk of a conflict of interest, publicly saying he recuses himself from decisions involving both companies. Still, that leaves him out of discussions in a key area of growth.Twitter has increased its payments and e-commerce options since Dorsey took the helm as acting Twitter chief on July 1. Earlier this month, Twitter announced a partnership with Square that would enable users to make political donations directly through the site. And on Wednesday, Twitter said it was partnering with U.S. retailers to help them sell products through a "buy now" button in tweets, a feature that does not involve Square, and relies on potential rivals to Square's service. The clearest conflict would be if Twitter continues to roll out payments and e-commerce features in partnership with Square. Dorsey would have a fiduciary duty to pursue both parties' best interests, lawyers said, which could pose problems."The list of conflicts is as long as the imagination will permit," said Lawrence Hamermesh, professor of corporate and business law at Widener University School of Law. "Every waking moment, Dorsey is going to have to decide, 'Am I going to work on Twitter or Square?'"Slow user growth and muted response to a new advertising feature led Twitter to lower its revenue forecast for the year in April. Its shares went public in 2013 and gained as much as 60 percent that year but have since fallen to near the initial public offering price. "There might come a time where (accepting payments) is so important to (Twitter's) strategic vision that the challenge becomes too great," said Stanford law and business professor Robert Daines. Both companies declined to comment on the conflict of interest issue.DUAL CEOS Dorsey would not be the first person to run two major companies. Steve Jobs led Apple Inc and animated movie studio Pixar for several years. Elon Musk runs electric car pioneer Tesla Motors Inc and rocket maker SpaceX. Twitter shares rose on the Re/code report, and some investors voiced confidence that Dorsey could run both companies long term, pointing to faster product rollouts at Twitter since he returned as interim leader."After watching Jack execute on his vision at Square, and more recently at Twitter as CEO, we are highly confident in Jack's ability to serve as CEO of both companies," said Justin Dini, spokesman for Rizvi Traverse Management, an investor in both Square and Twitter. Yet Twitter and Square's interests overlap more frequently than those juggled by Jobs and Musk, corporate lawyers and payments executives said. Square is also expected to file for an IPO later this year, which will require substantial time from Dorsey.Moreover, Twitter's president of global revenue and partnerships, Adam Bain, is a clear number two to Dorsey, while Square's management structure has no such backup. One potential solution is for the two companies to merge or form a deeper partnership. "It could result in the two companies combining at some point," said FBN Securities analyst Shebly Seyrafi. (Reporting by Yasmeen Abutaleb; Additional reporting by Heather Somerville and Devika Krishna Kumar; Editing by Peter Henderson and Bill Rigby)
News Corp sells digital education brand Amplify
News Corp said it sold its digital education brand, Amplify, to a management team supported by a group of private investors following slowing growth in the digital curriculum market.The company did not disclose financial terms of the deal.News Corp said in August that it was reviewing strategic options for Amplify and that it was in the final phase of talks with a potential acquirer for the business. Larry Berger, chief executive of Amplify Learning division, will lead the new company, according to an internal memo seen by . Amplify also said there were job cuts but did not specify the number. (Reporting By Arathy S Nair in Bengaluru and Liana B. Baker in New York; Editing by Maju Samuel)
Microsoft, Google stand down in patent battles
Berlin candy store offers 3D printed sweet treats
A German candy maker is hoping to tempt the taste-buds of Berliners with customized fruit gum sweets made with a 3D printer.German company Katjes (pron. CUT-yes) say they have developed a way to produce food from a 3D printer. A Katjes store in Berlin's trendy Mitte district showcases the Magic Candy Factory where sweet-lovers young and old can choose from 3D template designs that include individual fruit gum animals and shapes, as well as letters and words.The 3D printer at Cafe Gruen Ohr (Cafe Green Ear) is the first ever to produce fruit gum candy, according to Katjes.The makers hope that allowing customers to choose their own custom-made sweets will give the printed product a sense of magic."Candy is the perfect medium to bring this really cool concept to the consumer in a friendly and fun way," explained managing director for Magic Katjes UK, Melissa Snover. "The Magic Candy Factory focuses on the idea that science actually is magic and if we look at it that way and we focus on the amazing ability to create, and not the cold technology side, then we create an incredible experience for the customer and start getting people warmed up to 3D-printed food," she added, showcasing the fruit gum creations in Berlin.Customers can choose from a range of designs and flavors on a tablet. The trade-marked 3D printer then extrudes lines of the heated fruit gum mixture to build the design into a 3D product. "The heated fruit gum mixture is transmitted via a nozzle and line by line, it creates a shape or a word. Because the fruit gum mixture dries immediately, we are able to put one layer on top of the other. This is how we achieve the 3D effect," said Stephanie Speckmann, from Katjes' public relations company.According to Snover, her company has been making candy "in a traditional way for a long time. But one of the limitations of that is that you can't really make anything unless you are willing to make a million of it." Using the popular new production method of 3D printing means customers can personalize their candy."What the Magic Candy Factory allows us to do is make a different candy customized every single time so every single customer walks out with exactly what they want. So to me, that's a dream come true, that's where the inspiration came from," she said.Katjes currently stocks 14 designs of the fruit gum treats, retailing at a cost of five euros (around $5.60 USD). Sweets that features words or names cost ten euros ($11 USD) each.While the Magic Candy factory's parent company Katjes International had a turnover of 146 million euros ($163 million USD) in 2014, 3D printed sweets are only available in Berlin at the moment. The company plans to expand its technology beyond Cafe Gruen Ohr to other European cities.
Chipmaker Synaptics rejects Chinese firm's offer: Bloomberg
Touchscreen chip maker Synaptics Inc rejected an offer from a Chinese investment group valuing the company at nearly $4 billion, Bloomberg reported on Wednesday.The Chinese state-backed group bid $110 per share for Synaptics, Bloomberg reported, citing people familiar with the matter. The offer price is a near 70 percent premium to Synaptics' Tuesday close. The company's shares rose as much as 26 percent to $81.86 on Wednesday. Synaptics is not interested in selling at that level, one person told Bloomberg, and added that Synaptics might be holding out for a bid as high as $125 per share.A $125 per share bid would value Synaptics at $4.5 billion, based on the company's outstanding shares on Aug. 14. The Bloomberg report did not name the Chinese company.A Synaptics spokesman declined to comment. Earlier on Wednesday, U.S. data storage company Western Digital Corp said a unit of Tsinghua Holdings Co Ltd would buy a 15 percent stake in the company for $3.78 billion. (Reporting by Anya George Tharakan in Bengaluru; Editing by Kirti Pandey)
Twitter likely to name Dorsey permanent CEO: Re/code
Facebook updates profile options for mobile users, adds videos
Thousands of companies await EU ruling on U.S. data privacy pact
Twitter partners with retailers for 'Buy Now' button
U.S. car buyers unwilling to pay for automatic safety systems: study
U.S. car buyers are not willing to pay for a new generation of automatic safety devices without an extra push from legislators, regulators, manufacturers, dealers and insurers, according to a new study. The survey, released on Tuesday, covered a range of new safety features, from automatic parking, typically a $395 option, to infrared night vision ($2,260)."These technologies are not inexpensive," said Steve Handschuh, chief executive officer of the Motor & Equipment Manufacturers Association.The Boston Consulting Group, which conducted the survey for the association, estimated the cost of seven automated safety systems at $8,240 but said consumers were willing to pay only 25 percent to 70 percent of that. U.S. car buyers are more willing to spend money on convenience ahead of safety, said Xavier Mosquet, who heads Boston Consulting's North American automotive practice. Advanced safety systems such as adaptive cruise control, that are partially automated but relieve some of the tedium of driving, are therefore more attractive, he said.Because many advanced driver assistance features are still so expensive, their adoption in the United States continues to grow slowly, at an annual rate of 2 percent to 5 percent, Boston Consulting said. "Motivation is obviously needed" to boost those rates, which in turn could dramatically reduce costs, Handschuh said.Without such motivation, from lower insurance rates to new government regulations, it will take 20 to 25 years for widespread adoption, he said. Boston Consulting said automated driver assistance systems could help U.S. drivers avert 28 percent of vehicle crashes and save 9,900 lives each year.Suppliers of advanced driver assistance systems include Robert Bosch GmbH [ROBG.UL], Autoliv Inc, Continental AG, Delphi Automotive PLC, Valeo SA and Denso Corp. (Reporting by Paul Lienert in Detroit; Editing by Lisa Von Ahn)
London proposes tougher rules for app-based taxi firms like Uber
Italy's Renzi faces uphill struggle over Google Tax plan
China's Unisplendour to invest $3.78 billion in Western Digital
U.S. data storage company Western Digital Corp said Chinese state-backed Unisplendour Corp Ltd would invest $3.78 billion in the company for a 15 percent stake.Western Digital shares rose about 10 percent to $75.99 in premarket trading on Wednesday.The company will issue new shares to Unisplendour at $92.50 each, a 33.3 percent premium to Western Digital's Tuesday close.Unisplendour, owned by Tsinghua Holdings, will have the right to nominate one representative to Western Digital's board. The board representative right terminates if Unisplendour's ownership falls below 10 percent. Unisplendour has agreed to a five-year lock-up on the shares, during which it would have voting restrictions, Western Digital said. Western technology companies have struggled to win customers in China after former U.S. National Security Agency contractor Edward Snowden's revelations of cyberspying program involving U.S. firms. Many companies are now seeking local partners in China or looking to sell off assets altogether to Chinese buyers. (Reporting by Ankit Ajmera in Bengaluru; Editing by Kirti Pandey)
Montage Technology offers to buy Pericom
Analog chip maker Montage Technology Group Ltd said it has offered to buy Pericom Semiconductor Corp in a deal valued at $430 million.Montage Technology's all-cash offer of $18.50 per share is at a premium of 9.5 percent to Pericom's Tuesday close of $16.90.Earlier this month, chipmaker Diodes Inc proposed to buy Pericom in a deal valued at about $400 million to boost its analog and mixed-signal chip businesses. (Reporting By Lehar Maan in Bengaluru; Editing by Anil D'Silva)
Average Apple Watch sells for $529, at top end of estimates: report
Top U.S. spy says skeptical about U.S.-China cyber agreement
Target to match online prices with over two dozen online rivals: AP
Rocket Internet start-ups see revenue jump, losses mount
Tuesday, September 29, 2015
Tesla delivers Model X electric SUV to take on luxury carmakers
Telsa Motors delivered the first of its long-awaited Model X electric sports-utility vehicles on Tuesday, a product investors are counting on to make the pioneering company profitable after years of losses.The launch of the Model X represents a milestone for the loss-making Silicon Valley automaker during a period of high spending and modest growth, because it can now boast a second model in production beyond its Model S sedan, launched in 2012."I think we got a little carried away with the X," Chief Executive Officer Elon Musk told reporters ahead of a launch event near the company's Fremont factory, where luxury Model Xs have been moving down the production line in recent weeks, nearly two years behind the company's original schedule.Musk estimated that 25,000 customers had pre-ordered the crossover online or in its stores and that it would take 8-12 months for those ordering from now to receive the SUV.In retrospect, the company may have done less, Musk said."There is far more there than is really necessary to sell a car. And some of the things are so difficult, they make the car better but the difficulty of engineering those parts is so high." Between 4,000-6,000 guests filled a cavernous space for the launch. Invited to the event were Model X reservation holders, Tesla employees and Model S and Roadster owners. The Roadster sportscar, which is no longer in production, was the company's first vehicle.Musk has said the all-wheel drive Model X - with two electric motors, the ability to travel about 250 miles (about 400 km) on a single charge and seating for seven people - was "the hardest car to build in the world". Priced as high as $144,000, it features so-called "falcon-wing" doors that open upward rather than to the side - controlled by sensors that can modulate the height to clear garage ceilings - seats that can be adjusted separately and a panoramic windshield that extends overhead. Musk said the biggest challenges were making the doors open in a graceful "balletic" manner, the expansive windshield - which he said was the largest piece of glass ever used in a car - plus its sun visor and the moveable seats, which he said were deceptively tricky."One of the hardest things to design is a good seat," he said. Although global adoption of electric vehicles has been slow, Tesla has been the U.S. pioneer in luxury electric cars charged by batteries. It is betting that high-performance and stylish offerings will boost acceptance amid a sea of alternatives, such as hybrids or electric vehicles powered by hydrogen. Tesla predicted its SUV would receive 5-star safety ratings in all categories, based on data from its crash tests, due to its low center of gravity, which helps reduce rollovers. The Model X, like the Model S, will be continuously improved, Tesla said, due to software transmitted "over the air". A highly anticipated update expected within the next month will allow for an auto-pilot function, in which cars can be driven hands-free on freeways.AHEAD OF PACKThe buzz surrounding Tesla's Model S sedan - whose P85D variant won a top score of 100 from Consumer Reports magazine in August - has managed to preempt high-end German rivals such as Volkswagen's Audi and Porsche, BMW and Daimler's Mercedes-Benz.At the Frankfurt Auto Show earlier this month, Audi unveiled its e-tron quattro sport-utility vehicle, and Porsche showed off its first battery-powered sports car, although neither will be available before 2018. But spending on the Model X, a new Nevada battery factory and the lower-cost Model 3 due by late 2017, have all increased capital expenses, which totaled $831.2 million in the first half of the year. The Model X, he said, "gives us a cashflow stream we can use to develop and facilitate" Tesla's three vehicles either in production or development. Six new cars were delivered on Tuesday to a group made up of Tesla board members, investors and friends of Musk who had pre-ordered. In August, Musk said Tesla would make between 50,000-55,000 Model S and Model X vehicles this year, with the capacity for 1,600-1,800 vehicles per week on its production line next year.Tuesday's unveiling showcased the top-of-the-line "Signature" Model X, priced between $132,000 and $144,000, with optional add-ons such as acceleration upgrades, packages for subzero weather package or towing.The company has not disclosed pricing for the base model, but Musk said that in the future, there would be a "lower-cost" Model X. (Reporting By Alexandria Sage; Editing by Ken Wills)
Apple launches Apple Music in China
Former U.S. spy agency contractor Snowden draws crowd with Twitter debut
Edward Snowden has come in from the cold - on Twitter.Snowden, the fugitive former National Security Agency contractor who leaked details about the U.S. government's massive surveillance programs, started a Twitter account on Tuesday from exile in Russia with a simple handle - @snowden.He attracted more than 171,000 followers in about an hour and had 740,000 by Tuesday evening. But Snowden himself was following only one other Twitter account - his former employer's."Meanwhile, a thousand people at Fort Meade just opened Twitter," Snowden said in a tweet, referring to the U.S. Army base in Maryland that is the home of the NSA.Snowden's initial tweet was "Can you hear me now?" The message, a take-off on a cellphone provider television commercial, was retweeted 25,000 times within an hour. In his Twitter profile, Snowden described himself by saying: "I used to work for the government. Now I work for the public." Supporters see Snowden as a whistleblower who boldly exposed government excess. But the U.S. government has filed espionage charges against him for leaking intelligence information. Snowden fled the United States in May 2013 and has been living in Russia since being granted asylum there later that year.Initial reaction on social media to Snowden was more positive than negative. Based on a Thomson proprietary algorithm that looked at Twitter posts mentioning Snowden or his official Twitter handle, there were about 1,109 positive tweets versus 156 negative, a ratio of about 7 to 1, within the first hour of his initial tweet. The counts were from a representative sample. In his earlier hours on Twitter, Snowden exchanged tweets with prominent astrophysicist and radio talk-show host Neil deGrasse Tyson, who had encouraged Snowden to try Twitter during an interview on his show this month.On Twitter, the two discussed the discovery of water on Mars, and Snowden joked that his work for the Freedom of the Press Foundation keeps him busy, "but I still find time for cat pictures."Tyson asked how he felt about being considered a traitor as well as a hero, noting that "you're a geek to me." Snowden responded that he was "just a citizen with a voice." The user name @Snowden had already been claimed by someone who had not used it in three years. The American Civil Liberties Union, which represents Snowden, said Twitter officials were contacted and agreed to turn over the handle to Snowden. (Writing and reporting by Bill Trott; Additional reporting by Peter Cooney; Data compiled by Connie Yee, Thomson F&R; Editing by Richard Chang and Leslie Adler)
China's cabinet promotes online-offline business links
China's State Council, or cabinet, has issued guidelines encouraging deeper links between online businesses and bricks-and-mortar stores, pledging to cut red tape and promote tax and financial support to make it happen.The guidelines, dated Sept. 18 and published late on Tuesday, were cast as a way to spur consumption and economic activity. They come at a time when China's economic growth is at its slowest in years."Online-offline interaction has become one of the most dynamic forms of economic activity. It is a new channel for promoting consumption and a bright spot in innovation and development of the flow of commerce," it said."Developing online-offline interaction is very important to the transformation of physical stores, the promotion of business model innovation, the enhancement of new driving forces in economic development and in serving the entrepreneurship and innovation among the masses." The guidelines encouraged quicker uptake of mobile Internet, big data, the Internet of Things, cloud computing, the made-in-China Beidou Navigation System, global positioning, and biological identification in authentication, direct payment and logistics.The government encouraged partnerships between Internet companies and physical stores in order to combine their advantages. It also promoted the development of e-commerce and improved logistics in rural areas, and encouraged the merging of domestic and overseas markets via the Internet. State news agency Xinhua said the government would also unveil financial support for the sector. (Reporting by John Ruwitch; Editing by Paul Tait)
Rio de Janeiro mayor bans Uber, open to debating regulation
AppDynamics names Adobe's David Wadhwani CEO
From pixels to pixies: the future of touch is sound
Ultrasound - inaudible sound waves normally associated with cancer treatments and monitoring the unborn - may change the way we interact with our mobile devices.Couple that with a different kind of wave - light, in the form of lasers - and we're edging towards a world of 3D, holographic displays hovering in the air that we can touch, feel and control.UK start-up Ultrahaptics, for example, is working with premium car maker Jaguar Land Rover [TAMOJL.UL] to create invisible air-based controls that drivers can feel and tweak. Instead of fumbling for the dashboard radio volume or temperature slider, and taking your eyes off the road, ultrasound waves would form the controls around your hand."You don't have to actually make it all the way to a surface, the controls find you in the middle of the air and let you operate them," says Tom Carter, co-founder and chief technology officer of Ultrahaptics.Such technologies, proponents argue, are an advance on devices we can control via gesture - like Nintendo's Wii or Leap Motion's sensor device that allows users to control computers with hand gestures. That's because they mimic the tactile feel of real objects by firing pulses of inaudible sound to a spot in mid air. They also move beyond the latest generation of tactile mobile interfaces, where companies such as Apple and Huawei [HWT.UL] are building more response into the cold glass of a mobile device screen.Ultrasound promises to move interaction from the flat and physical to the three dimensional and air-bound. And that's just for starters. By applying similar theories about waves to light, some companies hope to not only reproduce the feel of a mid-air interface, but to make it visible, too.Japanese start-up Pixie Dust Technologies, for example, wants to match mid-air haptics with tiny lasers that create visible holograms of those controls. This would allow users to interact, say, with large sets of data in a 3D aerial interface."It would be like the movie 'Iron Man'," says Takayuki Hoshi, a co-founder, referencing a sequence in the film where the lead character played by Robert Downey Jr. projects holographic images and data in mid-air from his computer, which he is then able to manipulate by hand. BROKEN PROMISESJapan has long been at the forefront of this technology. Hiroyuki Shinoda, considered the father of mid-air haptics, said he first had the idea of an ultrasound tactile display in the 1990s and filed his first patent in 2001.His team at the University of Tokyo is using ultrasound technology to allow people to remotely see, touch and interact with things or each other. For now, the distance between the two is limited by the use of mirrors, but one of its inventors, Keisuke Hasegawa, says this could eventually be converted to a signal, making it possible to interact whatever the distance.For sure, promises of sci-fi interfaces have been broken before. And even the more modest parts of this technology are some way off. Lee Skrypchuk, Jaguar Land Rovers' Human Machine Interface Technical Specialist, said technology like Ultrahaptics' was still 5-7 years away from being in their cars. And Hoshi, whose Pixie Dust has made promotional videos of people touching tiny mid-air sylphs, says the cost of components needs to fall further to make this technology commercially viable. "Our task for now is to tell the world about this technology," he says.Pixie Dust is in the meantime also using ultrasound to form particles into mid-air shapes, so-called acoustic levitation, and speakers that direct sound to some people in a space and not others - useful in museums or at road crossings, says Hoshi.FROM KITCHEN TO CARBut the holy grail remains a mid-air interface that combines touch and visuals. Hoshi says touching his laser plasma sylphs feels like a tiny explosion on the fingertips, and would best be replaced by a more natural ultrasound technology. And even laser technology itself is a work in progress.Another Japanese company, Burton Inc, offers live outdoor demonstrations of mid-air laser displays fluttering like fireflies. But founder Hidei Kimura says he's still trying to interest local governments in using it to project signs that float in the sky alongside the country's usual loudspeaker alerts during a natural disaster.Perhaps the biggest obstacle to commercializing mid-air interfaces is making a pitch that appeals not just to consumers' fantasies but to the customer's bottom line.Norwegian start-up Elliptic Labs, for example, says the world's biggest smartphone and appliance manufacturers are interested in its mid-air gesture interface because it requires no special chip and removes the need for a phone's optical sensor.Elliptic CEO Laila Danielsen says her ultrasound technology uses existing microphones and speakers, allowing users to take a selfie, say, by waving at the screen.Gesture interfaces, she concedes, are nothing new. Samsung Electronics had infra-red gesture sensors in its phones, but says "people didn't use it". Danielsen says her technology is better because it's cheaper and broadens the field in which users can control their devices. Next stop, she says, is including touchless gestures into the kitchen, or cars. (Reporting by Jeremy Wagstaff; Editing by Ian Geoghegan)
General Electric sees digital revenue tripling to $15 billion by 2020
Microsoft turns spotlight on cloud, mobile with new reporting style
Russian sentenced to four-and-a-half years in U.S. prison for 'Citadel' malware
A Russian national was sentenced on Tuesday to 4-1/2 years in U.S. prison for using sophisticated malware known as “Citadel” to try to steal banking information from thousands of computers, authorities said.Dimitry Belorossov, 22, of St. Petersburg, had pleaded guilty in July 2014 to one count of conspiring to commit computer fraud for his role in a $500 million global cyber crime scheme that infected more than 11 million computers worldwide.U.S. District Judge Thomas Thrash in Atlanta imposed the sentence, which also requires Belorossov to pay more than $320,000 in restitution.Belorossov's defense lawyer did not immediately respond to a request for comment. Citadel, which first appeared in 2011, was designed to capture banking and credit card information from computers and had the ability to block antivirus software.Criminals installed the malware through malicious attachments contained in spam emails and other means. Belorossov, who used the online alias “Rainerfox,” downloaded one version of Citadel in 2012 and eventually gained access to more than 7,000 computer systems, U.S. authorities said. Microsoft Corp and the Federal Bureau of Investigation, working with authorities in dozens of countries, launched an assault in 2013 on the malicious computer networks that were used by the Citadel gang. The company said the attack had freed as many as five million personal computers from the malware.The global crime ring was believed to have stolen more than $500 million from dozens of financial institutions, including American Express Co, Bank of America Corp, Citigroup Inc, Credit Suisse AG, PayPal Holdings Inc, HSBC Holdings PLC, JPMorgan Chase & Co, Royal Bank of Canada and Wells Fargo & Co, Microsoft said in 2013. Belorossov was extradited from Spain in 2014. (Reporting by Joseph Ax; Editing by Tom Brown)
Twitter looking beyond 140 characters with new product: Re/code
Snowden draws crowd with Twitter debut
Google unveils two Nexus smartphones
Exclusive: GM to tap into connectivity, expand car sharing services - CEO
General Motors Co Chief Executive Mary Barra said the automaker plans new efforts to capitalize on the connectivity built into its cars, expanding car sharing services, offering more autonomous driving features and enabling services through smartphone apps."Our goal is to disrupt ourselves, and own the customer relationship beyond the car," Barra told in an interview Monday ahead of a meeting with investors and analysts scheduled for Oct. 1.Using technology embedded in its cars, she said, a customer who owns a Chevrolet Malibu could step into a Cadillac CTS and the luxury car could import from a smartphone app the driver’s preferences for how the car should function. It would be "a hop, skip and a jump" for GM to offer broader car sharing services, she said. GM’s autonomous driving feature, SuperCruise, will also make use of high-speed data connections in cars when it launches next year. Connectivity and apps will also help GM keep tabs on what customers are doing with their cars and how they are responding to features such as automatic braking or hands-free highway driving, Barra said. Companies such as Apple Inc and Google Inc are pushing to dominate dashboard displays with their software, but "we have the platform" of the vehicle itself, Barra said. GM has moved more aggressively than most of its rivals to put high-speed, 4G LTE data connections in its cars."We sold more 4G LTE connected vehicles in three days in June than the rest of the industry did in the first half of the year," Phil Abram, GM’s executive director for connectivity said in a separate interviewGM forecasts that from 2014 to 2018 it will earn about $350 million before interest and taxes on connectivity related services – a rounding error on GM’s projected revenue. Barra said the value in connectivity will grow if GM can inspire customers to stick with its brands for life, and provide data GM can use to tailor features and services. GM and many of its established rivals, including Ford Motor Co, BMW AG,Daimler AG and Volkswagen AG (VOWG_p.DE) are under pressure to demonstrate they will not be left in the dust as companies with roots in the digital technology industry, including Apple and search giant Google Inc, electric car pioneer Tesla Motors Inc and ride-sharing power Uber try to reinvent transportation.The threat from Silicon Valley, concern about rising regulatory costs in the wake of Volkswagen AG emissions scandal and economic uncertainty in China have combined to drive most auto stocks into the ditch this year. GM’s shares traded Monday about 12 percent below their $33 per share initial public offering price – despite Barra’s promise earlier this year to return $10 billion to shareholders in the form of buybacks and dividends through 2016. Barra gets good marks from analysts and investors for delivering on the automaker’s profit targets so far – including maintaining a forecast of 9 to 10 percent profit margins in China despite rapidly decelerating growth in vehicle demand. Earlier this month, GM paid $900 million to settle a criminal probe of mishandled recalls, dispelling a dark cloud on its horizon. Barra in the interview confirmed earlier forecasts of 9 to 10 percent profit margins in China, breaking even in Europe next year and completing the $5 billion in share buybacks by the end of next year. "We think the market is not fairly valuing the progress GM has made," said Barclays analyst Brian Johnson. While he welcomed GM’s initiatives on autonomous driving and disruptive mobility, "we’re not sure that will move the needle on the stock price." (Reporting By Joseph White and Paul Lienert; Editing by Bernard Orr)
All four French telecoms groups submit applications for mobile auction
Pentagon says U.S. needs to beef up ability to deter cyber attacks
Yahoo shares rise on decision to proceed with Alibaba stake spinoff
Yahoo Inc shares rose on Tuesday after the company said it would go ahead with the planned spinoff of its stake in Alibaba Group Holding Ltd despite the risk that the deal might not be tax free.Shares of Yahoo, which said this month that the U.S. Internal Revenue Service (IRS) had denied its request for a private letter ruling on a possible tax-free deal, rose 3.6 percent to $28.60 in light premarket trading."We believe the likelihood of a positive tax outcome for the company could be more likely now," Mizuho Securities analysts wrote in a note. "In our opinion, the IRS is maintaining the status quo on this issue, and with no changes to guidance on this matter, we believe that Yahoo should be able to complete this transaction in a tax-free manner."Mizuho cut its price target on Yahoo's stock to $40 from $43, based on Alibaba's lower valuation, joining several other brokerages in doing so. Yahoo Chief Executive Marissa Mayer has been under intense pressure from shareholders to spin off its stake in the Chinese e-commerce giant. The 15 percent stake is worth nearly $23 billion, as much as Yahoo's market value, having halved this year as Alibaba's stock has slumped 45 percent. Yahoo's shares are also down 45 percent. At a 40 percent rate, tax on the spinoff would be around $9 billion."The decision could potentially put shareholders on the hook for any tax liability should the IRS challenge (Yahoo's) interpretation of tax treatment in the future. We expect this would trigger a legal battle," MKM Partners analyst Rob Sanderson wrote in a note. "We think this would present an overhang until clarity arrives," he said, but added that the uncertainty was fully priced in. (Reporting by Sayantani Ghosh in Bengaluru; Editing by Kirti Pandey)
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