Business

TV Networks vs. Technology: The Battle Rages On
April 29, 2013

Earlier this month, News Corp. Chief Operating Officer Chase Carey threatened to pull the Fox network off the airwaves and convert it to a pay-TV channel. This came following a court ruling that allowed New York City-based Aereo to allow its subscribers to view over-the-air TV broadcasts.

Amazon Droops Following Profit-Light Q1 Report
April 26, 2013

The market digested the earnings report Amazon released on Thursday, and toward the end of trading Friday it was clear investors were less than pleased, with the company's stock down by about 6.5 percent. Little wonder: Amazon reported that its net income decreased 37 percent to $82 million in the first quarter, compared with $130 million in the first quarter of 2012.

EC May Go Easy on Google
April 26, 2013

The EU Competition Commissioner has revealed more information about the remedies Google has proposed in order to settle a brewing antitrust case over its search operations. Among other things, Google has offered to more clearly label its own promoted content from YouTube, Google Shopping and Google+ Local in order to better differentiate it from organic search results.

MetroPCS Shareholders Bless T-Mobile Union
April 25, 2013

T-Mobile can breathe a sigh of relief: After an initial show of reluctance by MetroPCS Communication investors, 80 percent approved its sale to T-Mobile at a special shareholder meeting held on Wednesday. T-Mobile reportedly sweetened its bid for the company to bring on board those shareholders who felt the original offer undervalued MetroPCS.

No Extra Points for Zynga's Strong Q1
April 25, 2013

Zynga reported an unexpectedly strong Q1 this week, but investors chose to focus on its lower guidance for future growth in the casual gaming industry. The company brought in $264 million in revenue on the quarter, down 18 percent from the same time a year ago but beating estimates that were closer to $209 million. Despite those results, investors sent the company's stock sliding by about nine percent in after-hours trading.

Using Crowdfunding to Bring Businesses to Life
April 25, 2013

It has become a Web phenomenon, but many people still may not have heard of crowdfunding. In its simplest terms, it is a way an online group of individuals can come together to fund a particular project. To date, most of the projects funded are charitable causes such as free software development, scientific research, disaster relief, the support of artists by a fan base, and civic projects.

Q1 Wireless Gains Can't Help AT&T Chase Down Verizon
April 24, 2013

AT&T slightly missed analyst expectations on its first quarter earnings report this week, despite solid growth on the wireless data side of the business and record smartphone sales. The company reported net income of $3.7 billion, a slight increase from the $3.6 billion it reported a year earlier. At $31.34 billion, revenues were down 1.4 percent from the previous year.

Apple's Mixed Earnings Bag Includes Stock Sweetener
April 24, 2013

For any company in the world, a quarter with revenues of $43.6 billion and profits of $9.5 billion would be cause for celebration. Unfortunately, Apple isn't any company. "Apple beat highly lowered expectations for the quarter," said Trip Chowdhry, managing director for equity research at Global Equities Research. Apple's numbers disappointed financial analysts.

House C'tee Chair Tells Consumer Protection Chief to Take a Hike
April 24, 2013

If CFPB Director Richard Cordray ever imagined that House of Representatives Republicans would eventually warm up to the bureau, that hope has surely been dashed by now. Rep. Jeb Hensarling, R-Texas, chairman of the House Financial Services Committee, on Monday sent a letter to Cordray, saying that he would be barred from testifying before the committee because his appointment as director was invalid.

Apple's Q1 Beats Wall Street, but Breaks a Profit Streak
April 24, 2013

Apple dominated the earnings roundup this week. Investors braced for a quarterly report that could determine whether the company's stock heads back towards last September's highs -- or continues its 40 percent-plus decline. Expectations weren't stellar for Apple before the Q1 report, but the company did barely beat analyst estimates thanks to high sales for iPhones and iPads.

Netflix Plays Its Q1 Cards Right
April 23, 2013

The market is popping champagne corks over Netflix's latest earnings report. A day after the company delivered boffo results and beat Street expectations for the first quarter, its stock has soared by some 25 percent. Netflix posted net income of $3 million, compared with a loss of $5 million a year ago. Profits were 31 cents a share, far more than analysts' expectations of 20 cents.

Germany Levies Max Fine Against Google; Max Fine Is Piddly
April 23, 2013

Dramatic rhetoric, tiny fine. German data regulators fined Google less than $190,000 for collecting information from unsecured WiFi networks while it compiled data for Google Street View. The data scoop was, according to Germany's data chief, "one of the biggest known data protection violations in history." The fine? Hardly the biggest in history.

Microsoft Catches Activist Investor's Eye
April 22, 2013

Activist investor ValueAct Capital has invested US$2 billion in Microsoft, according to a report on CNBC Monday morning. Wall Street immediately reacted, driving the company's share price to $31.18 from its usual perch at $30.27 per share. That is the highest level the stock has since in the last seven months.

Cook Replacement Rumors Smolder
April 22, 2013

Steve Jobs left big shoes to fill, and rumors circulated this week that Apple CEO Tim Cook may not be living up to expectations. This comes as Apple's stock closed at a 52-week low last Friday. Adding to the company's misery, Apple reportedly has earned the nickname "Poison Apple" with some Asian suppliers who are finding its high standards and low price expectations somewhat hard to meet.

Schmidt on Google's UK Taxes: This Is How It's Done
April 22, 2013

Google Executive Chairman Eric Schmidt defended the company's tax practices in the United Kingdom, where Google and a handful of other U.S. tech companies have been chastised for not paying enough taxes. Google paid just over $9 million in UK taxes in 2011, despite hundreds of millions in turnover. The company was able to pull this off by operating out of Ireland, which has a much lower tax rate.

Provo Is Next Stop on the Google Fiber Express
April 20, 2013

One week after the announcement that the Google Fiber network would come to Austin, Texas, Provo found out it will be the third city to get the search company's gigabit high-speed service. The Utah city, home to a much-criticized, money-losing fiber optic network, will sell it to Google for $1. The announcement means the company will eventually provide the city with Internet service that is 100 times faster.

Power to the Wiki-People
April 20, 2013

Earlier this month, agents for France's top intelligence agency were accused of trying to force a Wikipedia volunteer to remove a Wikipedia page describing a French military radio relay station. The volunteer, a library curator, reportedly was threatened with jail unless he complied. Before any of the bullying took place, the DCRI had gone the conventional route, contacting the Wikimedia Foundation, which is Wikipedia's parent organization.

Mobile Ads Show Life in Google Q1 Earnings
April 19, 2013

Google released a quarterly earnings report Thursday that beat estimates and also showed the company may be coming to grips with the problem of monetizing its mobile platform. The tech giant reported net income of $3.35 billion, or $9.94 per share during the first three months of the year, a 16 percent jump from the same time a year ago. Google's first-quarter revenue was $13.97 billion, a 31 percent increase from a year earlier.

Verizon May Have Finagled a Less Taxing Way to Buy Out Vodafone
April 19, 2013

Verizon Communications, which posted a higher-than-expected quarterly profit on the performance of its wireless business, has increased the pressure on Vodafone Group to sell its 45 percent stake in Verizon Wireless. The sale would give Verizon Communications full control of the largest mobile carrier in the United States. "There has been a lot of speculation about the tax consequences of a purchase of this 45 percent," noted Verizon CFO Francis Shammo.

Icelandic App Aims to Prevent Accidental Incest
April 18, 2013

Before knocking boots, knock phones. Three software engineers at the University of Iceland have designed an app to alert people if a casual encounter might in fact be casual incest. By bumping their mobile devices together, the app lets users -- and potential partners -- instantly compare their lineage, showing the nearest common ancestors. If a close relative is detected, users are alerted via an alarm and text warning.