Thursday, October 1, 2015
Short sellers cash in Apple bets as stock declines
Verizon launches new mobile video service 'go90'
Hackers attack forex broker FXCM
FXCM Inc, an online foreign exchange broker, said its systems were hacked and a "small number" of unauthorized wire transfers were made from customer accounts, sending the company's shares down 25 percent to a record low.All funds have been returned to the accounts that were compromised, the company said on Thursday.FXCM said it received an email from a hacker claiming to have illegal access to customer information and that it had notified the Federal Bureau of Investigation.An FBI spokeswoman said the bureau was "aware of the incident and is investigating." FXCM said it was working with a cybersecurity firm to determine the scale of the incident and identify affected customers.The company did not say when it was hacked or give any further details on the incident. FXCM did not immediately respond to a request for comment. FXCM is the latest U.S. corporation to become a victim of a cybersecurity attack, adding to a list that includes Target Corp, Apple Inc and JPMorgan Chase & Co.Accusations against China have increased amid growing concerns about national security. Last week, U.S. President Barack Obama and his Chinese counterpart Xi Jinping signed a pact to fight cyber warfare. FXCM's shares were down 4.6 percent, recouping some losses after hitting a record low of $6.51. The stock had fallen about 95 percent this year mainly due to losses stemming from the Swiss National Bank's removal of the cap on the Swiss franc in January. (Reporting By Sudarshan Varadhan in Bengaluru; Editing by Saumyadeb Chakrabarty and Savio D'Souza)
Apple appoints former Boeing CFO to its board
Autonomy's Mike Lynch counter sues HP over $11 billion deal
British entrepreneur Mike Lynch on Thursday said he would file a claim against Hewlett-Packard for $150 million in damages over allegations the U.S company made about his role in the acquisition of his software company Autonomy in 2011.Autonomy was a $11 billion bet on move into software for HP, but this strategy began to unravel only days after the deal was announced, documents have shown. Just over a year later, HP wrote off three-quarters of the deal's value, accusing Lynch and his colleagues of financial mismanagement.The two sides have been locked in an acrimonious battle ever since. (Reporting by Paul Sandle. Editing by Jane Merriman)
HP board approves split, expects completion on Nov. 1
Online retailer dreams of printing off bespoke shoes at home
The co-founder of Australian online retailer Shoes of Prey, which allows customers to design their own footwear, hopes to one day allow customers to print out pairs at home as technology improves and consumer demand grows for personalized products.Founded in 2009, Shoes of Prey allows women to create unique designs on its website, choosing from 300,000 trillion possible permutations of materials, colors, styles and sizes. It promises to deliver in four weeks but often manages two. Jodie Fox, who set up Shoes of Prey in 2009 with former Google Inc employees Michael Fox and Mike Knapp, expects consumer demand for faster delivery to keep rising."Ideally we would get to a point ... where we are able to (deliver) overnight a pair of shoes to you that you designed the day before," Fox said in a telephone interview from Sydney.That will only be possible once advances in 3-D printing technology allow the company, which currently ships worldwide from a factory in China, to set up small manufacturing hubs around the globe.Longer-term, Fox can imagine being able to check the weather, choose an outfit and design a pair of matching shoes that can print out in her wardrobe while she takes a shower."To truly marry real customization and immediacy is a way bigger challenge," she said. "My dream of the future is manufacturing in the home." CUSTOM MADE Sportswear firms such as Nike and Adidas already allow fans to personalize sneakers ordered online and Adidas hopes to be able to produce a custom-made running shoe from scratch in store by next year. A survey by consultants Deloitte shows 37 percent of consumers are interested in buying personalized footwear, rising to 48 percent for those aged between 16 and 24.Fox said Shoes of Prey's sales had risen 120 percent in the last year, helped by the six design studios the brand has opened in the United States in upscale Nordstrom department stores.Fox, 33, said customers still prefer to buy shoes in store despite the advent of e-commerce. "We want to touch it, we want to see it, we want to understand it in its physical form before we buy it. That hasn't changed," she said.The top five materials her customers choose are all black, Fox said, and the most popular style is a three-inch stiletto, often with a personal twist like a colorful lining. Fox, who prefers either totally flat shoes or a heel at least four inches high, said her typical customer is a 25- to 35-year-old professional woman with above-average income, not surprising given a price tag of about $220 per pair. "Honestly, Shoes of Prey is not about shoes. It is about this whole idea of getting you what you want, when you want it, and that will extend into many products," Fox said.She said her Italian grandmother had laughed when she described her business, noting cobblers used to make made-to-measure shoes when she grew up in Sicily."We're reimagining something that was a product of days past with the capabilities we have today," Fox said. "That is why technology is so exciting." (Editing by David Holmes)
Toshiba may lay off appliances, TV and PC workers: CEO
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