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Qualcomm to buy NXP Semiconductors for enterprise value of $47 billion
Samsung Electronics vows mobile rebound, dangles buyback after Note 7 shock
Samsung Electronics Co Ltd on Thursday said it aims to recover quickly from the disastrous withdrawal of the fire-prone Galaxy Note 7 that dragged third-quarter mobile earnings to their lowest level in nearly eight years. It also held out the prospect of greater returns by disclosing consideration of a share buyback, talked up its semiconductor business and promised to consider proposals for a corporate makeover from U.S. hedge fund Elliott Management. Investors expect sweeping management changes in response to the Note 7 failure, especially after voting on Thursday to make parent conglomerate Samsung Group's [SAGR.UL] de facto chief, Jay Y. Lee, a Samsung Electronics director.
Tech privacy ally Feingold leads in Wisconsin Senate race
By Dustin Volz WASHINGTON (Reuters) - Next month's Senate election in Wisconsin could gain Silicon Valley a key ally in Washington in the high-tech industry's battle against the U.S. government's growing appetite for more access to private data. Democrat Russ Feingold, 63, the only lawmaker to vote against the USA Patriot Act in 2001, leads incumbent Republican Senator Ron Johnson in the state in opinion polls ahead of the Nov. 8 election. Johnson, 61, rode a wave of support from conservative Tea Party activists to victory six years ago, sweeping Feingold out of office.
Italy judge agrees tax probe settlement with head of Apple's Irish unit: source
A Milan judge has accepted a settlement agreement with the head of Apple's Irish-based unit Apple Sales International as part of a probe into allegations the U.S. tech giant failed to pay corporate taxes in Italy to the tune of 879 million euros ($959.43 million), a judicial source said. Under the settlement agreement, a six-month jail sentence for the executive has been converted into the payment of a 45,000 euro ($49,126) fine, the source said. Under Italian law, a settlement agreement does not imply an admission of guilt.
LG Electronics says third-quarter profit down 3.7 percent vs. year earlier
SEOUL (Reuters) - South Korea's LG Electronics Inc said on Thursday its third-quarter operating profit fell 3.7 percent from a year earlier, dragged down by a record quarterly loss for its mobile division. The world's No. 2 television maker behind Samsung Electronics Co Ltd said in a regulatory filing its July-September profit was 283 billion won ($248 million), matching an earlier estimate. Revenue for the quarter dropped 5.7 percent to 13.2 trillion won. LG's mobile division reported its worst-ever quarterly operating loss of 436. ...
First Mercedes car under new electric brand to be made in Bremen
Mercedes-Benz will build the first model under its new EQ electric vehicle brand in the northern German city of Bremen by the end of the decade, parent Daimler said on Thursday. Mercedes-Benz and Daimler's Smart brand aims to launch more than 10 electric cars by 2025, in major push in pure electric vehicles thanks to advances in battery technology and greater consumer acceptance of zero-emissions vehicles. The model to be built in Bremen will be based on the sporty SUV coupe-style EQ vehicle it presented at the Paris auto show last month, Daimler said.
Software maker Misys tops list of ditched UK IPOs
By Dasha Afanasieva and Rachel Armstrong LONDON (Reuters) - After struggling for weeks to woo buyers for a proposed public offering, financial software firm Misys scrapped plans to relist on the London stock market, blaming shaky market conditions and adding to a run of aborted floatations in recent weeks. Misys is the largest initial public offering (IPO) to be pulled or postponed in London this year amid investor caution about pricing and the outlook for markets. The company said this month it had hoped to raise around 500 million pounds ($611 million) by selling a quarter of the company through the IPO, but underwriters scaled back the offering after finding it hard to sign up investors.
Viral Facebook pages are passing off old space clips as live footage to millions of viewers
Facebook has been pushing live video as its next big format for a while now, and that means there are plenty of media outlets trying to take advantage of the extra visibility. Some, though, aren’t being so honest about it, with Mashable pointing out this week that some viral Facebook pages have been passing off archive footage from the International Space Station as live streams from off the planet. UNILAD and Viral USA are two pages that tricked viewers in this way, launching hours-long "live" streams from space earlier this week.
Samsung still stumped by charred Note 7s; heir joins board
Samsung Electronics is still trying to figure out why its Galaxy Note 7 smartphones were catching fire, the company said Thursday, as shareholders appointed the grandson of the company's founder to its ...
Samsung Note 7 probe results to be come at year-end: Samsung SDI executive
Samsung Electronics and battery supplier Samsung SDI expect to announce the results of their probe into the cause of fires in some Galaxy Note 7 smartphones late this year, a SDI executive said on Thursday. Samsung SDI later said in a statement that Samsung Electronics would announce the results of the probe, without giving a timeframe. Analysts have said Samsung SDI supplied about 60 percent of the batteries for the Note 7.
Nokia shares plunge to three-year low after warning of tough network markets
Nokia has succumbed to a downturn in the telecoms equipment business, posting a sharp drop in quarterly earnings and warning that demand for the kit which drives global network traffic would shrink further in the coming year. The network gear market is in decline after demand for 4G equipment peaked last year and a new cycle of 5G network upgrades is not expected to begin until around 2020, a trend which earlier this month pummeled rival Ericsson . "Although their underlying profitability is solid, it does not compensate for reported figures being weak... It's a bit better than Ericsson's, but it is not a good report," said Swedbank analyst Mathias Lundberg, who rates the stock "neutral".
Fujitsu confirms Lenovo PC tie-up talks, says to retain brand
Japan's Fujitsu Ltd on Thursday confirmed it was in talks with China's Lenovo Group to cooperate in the design and manufacture of personal computers (PC), and that any outcome would see it retain its own PC brand. The possible alliance with the world's largest PC maker "is aimed at strengthening our brand and business," Fujitsu President Tatsuya Tanaka said at a briefing in Tokyo after the company released its latest earnings report. Fujitsu and Lenovo, in a joint statement, said they were exploring means of cooperation and were discussing financial support with the state-backed Development Bank of Japan.
Yoko Ono channels Simpsons by exhibiting a single plum, floating in perfume, served in a man’s hat
As outlandish drink orders go, few are more memorable than the “single plum, floating in perfume, served in a man’s hat” requested by The Simpsons’ Yoko Ono analog. Now the woman herself has even paid homage the line, including the drink — plum and all — in an Icelandic exhibit that celebrates her works. The piece is on show as part of the Yoko Ono: One More Story exhibition at the Reykjavik Art Museum.
This AI-powered alarm clock promises to make your life better, more French
The French cook well, they dress well, and, according to a Kickstarter campaign for an AI-powered alarm clock, they're even better at getting up in the morning. The alarm clock in question is called the Bonjour and pledges to be your "morning assistant," making your life easier and more luxurious. It offers all the sorts of features you'd get from Google Assistant or Alexa (warning you about traffic on your way to work, checking your calendar, playing music, etc) but houses this information in a chic-looking circular alarm clock with an animated UI and built-in speaker.
Samsung Electronics to buy $159 million of shares in Samsung Heavy rights issue
SEOUL (Reuters) - Samsung Electronics Co Ltd said on Thursday it will buy 181 billion won ($158.71 million) worth of Samsung Heavy Industries Co Ltd shares as part of the shipbuilder's 1.14 trillion won ($999.59 million) rights issue.
Nokia in Q3 loss, sales drop amid networks downturn
HELSINKI (AP) — Mobile networks operator Nokia continued to be hit by a downturn in the industry, reporting a loss in the third quarter and a 12-percent drop in sales that saw the company's share price plunge 7 percent.
Nokia reduces losses as merger with rival proceeds
Finnish telecom equipment giant Nokia said Thursday it has managed to reduce losses but remained in the red in the third quarter after acquiring its former rival, French-American Alcatel-Lucent. Thanks to the Alcatel-Lucent acquisition, the company's net sales grew by nearly 94 percent to 5.89 billion euros from 3.04 billion for Nokia alone a year before (to $6.43 billion from $3.32 billion). Nokia's chief executive Rajeev Suri described the results as solid "despite market conditions that are softer than expected".
Indonesia hopes to reach tax settlement with Google: finmin
JAKARTA (Reuters) - Indonesia aims to reach a tax settlement with Alphabet Inc's Google, Finance Minister Sri Mulyani Indrawati said on Thursday. "We've already communicated with Google. At least there's an understanding why Indonesia would like to have a fair share of the revenue. We do hope that we are going to have a settlement," Indrawati told foreign journalists in Jakarta, the capital, without disclosing any timeline. ...
Federal tech innovation service to be led by Ex-Pixar exec
A former Pixar executive who won the first ever Oscar for software is taking over a U.S. government agency responsible for improving federal digital technology. Rob Cook, whose credits include "Toy ...
Samsung posts 30 percent profit plunge on Note 7 crisis
Samsung Electronics on Thursday reported an expected 30 percent profit plunge on the back of a highly damaging recall crisis that hammered the reputation of the world's largest smartphone maker. Samsung said its operating profit for the July-September period stood at 5.2 trillion won ($4.6 billion), compared with 7.3 trillion won a year ago. The profit slump was in line with a revised earning estimate issued by Samsung two weeks earlier after it killed off its flagship Galaxy Note 7 smartphone due to devices overheating and bursting into flames.
Sale or no sale, changes could come to Twitter users
El proyecto de autos autónomos de Alphabet será un negocio independiente
Samsung SDI widens loss in third quarter after demise of Galaxy Note 7s
Samsung SDI, a battery supplier for Samsung Electronics' Galaxy Note 7 phones, posted a worse-than-expected operating loss in the third quarter, weighed down by the termination of the fire-prone devices. The Samsung Electronics affiliate posted an operating loss of 110 billion won ($96.33 million) for the July-to-September period, compared with a loss of 48 billion won a year earlier and a consensus forecast of a loss of 55 billion won. Analysts said Samsung SDI supplied about 60 percent of the batteries for the Note 7, which Samsung scrapped earlier this month due to over-heating problems.
Samsung Galaxy Note 7 troubles, by the numbers
SEOUL, South Korea (AP) — Samsung Electronics said Thursday that it has confirmed 140 cases of the Galaxy Note 7 smartphone overheating or catching fire. Samsung's President Shin Jong-kyun apologized at a meeting with shareholders, saying the company still does not know what is causing the problem.
As Mexico lauds telecom reform, rural poor search for connection
By Christine Murray SANTA CRUZ ITUNDUJIA, Mexico (Reuters) - Toddler Priscila Rubi Sanchez lived in a remote Mexican hamlet with no fixed line or cell phone network, so when a mouthful of corn partially blocked her throat late one night and her parents could not call for help, she died. Life is tough in Santa Cruz Itundujia in the mountains of Oaxaca state and it is made even harder here and in other isolated towns throughout Mexico's rugged interior by a lack of connectivity that complicates everything from education to getting help in medical emergencies. In these remote indigenous hills, President Enrique Pena Nieto's telecommunications reform, credited with slashing prices for many Mexicans and boosting competition against billionaire Carlos Slim's company America Movil, is coming up short.
Telefonica will decide on O2 listing when markets steady: UK CEO
By Paul Sandle LONDON (Reuters) - Telefonica will not list its British mobile business in 2016, the unit's chief executive said, citing softer demand for initial public offerings and the impact of the weaker pound, and would only go ahead in 2017 if market conditions are right. The Spanish telecoms group said last month it planned to either list or sell a stake in O2 UK before early 2017 as part of its plan to cut its 50 billion euros ($55 billion) of debt. It decided to seek a London listing or a partial sale of the business after European regulators blocked an agreed 10.3 billion pounds ($13.7 billion) takeover by CK Hutchison Holdings, the owner of British rival Three, earlier this year.
Ex-Pixar executive to head federal tech innovation service
Samsung’s Q3 profits are way down after Note 7 recall
Samsung profits slipped significantly as a result of the Note 7 debacle, the company confirmed today in financial results for the third quarter of 2016. The year-on-year drop of more than a third marks the first decline in profits in a year for Samsung, which started to turn around a stagnant financial situation in the third quarter of 2015. Prior to its decision to fully recall the Galaxy Note 7, Samsung had anticipated slight increases in operating profit for the quarter.
Samsung heir joins board, moving toward top leadership role
Verizon warily staying with deal to buy Yahoo
A Verizon executive overseeing the purchase of Yahoo said Wednesday the deal was moving ahead pending the outcome of an investigation into an epic hack. Verizon expected that within 60 days it would have the "outcome" of how the massive breach at Yahoo will affect, if at all, the $4.8 billion purchase of the struggling internet pioneer by the US telecom titan. "We are not going to jump off a cliff blindly, but strategically the deal still does make sense to us," Verizon executive vice president of product and new business innovation Marni Walden said at a WSJD Live technology conference in California.
‘Planet Earth 2’ finally has a premiere date and an awesome new teaser video
After releasing a tantalizing teaser video for Planet Earth 2 last week, BBC today finally gave us some information regarding when its award-winning documentary series is slated to return. Originally scheduled to air sometime in 2016, it appears that the debut of the highly anticipated series has been pushed back ever so slightly. Now comes word via BBC that Planet Earth 2 will hit our TV screens on January 28 on BBC America. DON'T MISS: This is going to be the first problem that 2016 MacBook Pro buyers need to fix While the first installment of Planet Earth made waves because it was shot and aired in HD -- still something of a novelty back then -- Planet Earth 2 is taking things to an entirely new level. Featuring narration from David Attenborough, Planet Earth 2 was filmed with 4K cameras, advanced drones and an assortment of next-gen remote recording equipment. "The epic scale and ambition of this series is second to none,” series executive producer Mike Gunton explained a few months ago. “It will be a truly immersive experience, providing audiences with a unique perspective on the most extraordinary places and animals on our planet.” Footage for the documentary was captured over the last three years, and if the first installment is any indication, Planet Earth 2 will be must-see TV. To further get us amped up for the series premiere, frustratingly still three months away, BBC earlier today released a new teaser video to hold us over for the time being. You can check a trailer for the upcoming 6-part series below. https://www.youtube.com/watch?v=BTTzMR0JdSk
OPPO leapfrogs smartphone rivals with ad blitz and sales force
By Eveline Danubrata and Sijia Jiang JAKARTA/HONG KONG (Reuters) - Chinese smart phone company OPPO doesn’t believe in subtle marketing. It has built a massive network of 320,000 retail outlets across China and other parts of Asia, its sales representatives earn commissions on every phone they sell, and it has filled the airwaves and covered thousands of billboards with advertising based on the endorsement of some of the hottest Asian pop stars. OPPO also sells a lot of devices through its own stores, deals directly with any retail partners rather than through layers of middlemen, and provides them with sales reps and generous incentives.
Samsung Electronics says Note 7 probe goes beyond batteries
SEOUL (Reuters) - Samsung Electronics Co Ltd said on Thursday it will examine every aspect of the Galaxy Note 7 such as hardware, software and the manufacturing process to determine the root cause of the fires that led to the phone's cancellation.
Samsung Elec shareholders OK board seat for Samsung Group scion
SEOUL (Reuters) - Samsung Electronics Co Ltd shareholders voted on Thursday to make Vice Chairman Jay Y. Lee a board director, a move seen as further cementing the 48-year-old's role as the leader of Samsung Group. The seat gives the scion of the founding Lee family an official leadership position at Samsung Group's flagship company and allows him to publicly weigh in on strategic decisions. (Reporting by Joyce Lee, writing by Se Young Lee; Editing by Stephen Coates)
Samsung Elec to respond to Elliott in November
SEOUL (Reuters) - Samsung Electronics Co Ltd on Thursday said it is considering activist hedge fund Elliott Management's proposals for a radical corporate makeover and will respond by the end of November. Robert Yi, head of Samsung's investor relations, said the response will be made along with its overall shareholder returns plans. He said the response will likely speak in broad directions as opposed to specific details. (Reporting by Se Young Lee; Editing by Stephen Coates)