We yesterday reported that since from the time Yahoo’s CEO Scott Thompson was appointed for the role, faces a proxy shutdown with hedge fund Third Point. The proxy battle will determine whether Thompson or a slate of dissident directors nominated by Dan Loeb, the hedge fund’s founder gets to chart the company’s course. With course of time, Yahoo has already named two of three five board of members but it is still urging to win the challenge it owes from activist shareholder Daniel Loeb of Third Point. Loeb has been trying aggressively...
Keeping an eye on the businesses overseas is what it defines as a successful business and when getting the results and aiming to double its approach, makes a long term valuable entity. With the focus on affordable handsets, Samsung aiming to double its share of African smartphone market to 20 percent by next year, reports Reuters. Kwang Kee Park, Samsung’s president and chief operating officer for Africa, told Reuters in an interview that the demand is on the increase for cheaper smartphones. “We intend to grow the smartphone...
With moving away from classified and listings businesses, Ebay agreed to sell its Rent.com business unit to PRIMEDIA, reports Reuters. Ebay bought up Rent.com back in 2004 for $400 million. The transaction is expected to close in the second quarter whereas deal terms and conditions were not disclosed. Rent.com is a leading online listing website for rental properties....
Reuters is reporting that an Oracle investor sued the company and members of its board of directors over alleged $200 million settlement. The lawsuit was filed in Delaware state court by investor Jordan Weinrib said the defendants, including Oracle CEO Lawrence Ellison and other past and present members of the company’s board of directors, breached their duty to shareholders by engaging themselves in prolonged litigation over the whistleblower’s allegations. Weinrib said in the complaint: “The board forced the government...
HP CEO Meg Whitman, at the company’s annual meeting of its shareholders, made the pitch to investors that the company hasn’t lost its wave in the market. Whitman outlined HP’s various businesses and assessed, from a bird’s eye view, the strengths and weaknesses of each and their priority within the company — foreshadowing acute changes in coming months. The “core” of this company is its infrastructure business, Whitman said: PCs, servers, printers, networking. “Let’s not run from that,” she said. “Let’s stand up...
French President Sarkozy announced that France from now onwards would seek to punish frequent visitors of extremist websites in order to fight its homegrown terrorists, reports Reuters. The announcement was made following the death of a 23-year-old gunman Mohamed Merah who said al Qaeda inspired him to kill seven French people “From now on, any person who habitually...
Apple which was recently comes under fire from EU consumer groups over “misleading” AppleCare warranties, has lost an appeal in the Italy court over the AppleCare issues. The court asked the Cupertino-based company to pay up on a €900,000 (about $1.2 million) fine and also add a notice over AppleCare packaging. The company can still re-appeal the ruling, and...
Apple acknowledged that “item cannot be downloaded” errors rounding up on iTune Cloud download error. Well, asking about the issue, Apple told TNW that the first occurrence they had heard of the issue was about 3:30 PST. The support person said that the problem, as far as they know, has to do with the iTunes cloud or its servers and that there was currently no...
China Mobile has announced that its chairman, Wang Jianzhou, has stepped down from his position “by reason of age”. The China Mobile board honored Wang “with the highest regard and deepest gratitude” and his eight year tenure has seen it grow to more than 650 million subscribers. His replacement will be Xi Guohua, the operator’s vice chairman. The Board of the company also announced that as proposed by the nomination, Committee of the Company and after review and approval by the Board, Mr. Xi Guohua, will work on the new position...
Japan’s leading mobile operator NTT DoCoMo has announced that its ‘Xi’ LTE network has now passed 2 million subscribers base following a surge in new sign ups, reports Tech In Asia. The carrier’s first million took a year to acquire, making its growth to two million more than four times faster than before. The subscribers to Xi (pronounced “crossy”),...
