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According to a report, Nokia Siemens Network (NSN) is successful in raising more than 1.2 billion euros from a group of 14 U.S. and European banks. Actually amount the group was seeking is 1.5 billion euros, but market turmoil results in settling them to a smaller amount. The joint group needed the amount to restructure its business and pay costs of a big redundancy. As per Reuters, Nokia Siemens Network has faced aggressive pricing from rivals and an economic downturn that has even forced telecom companies to cut spending. JPMorgan,...

Research in Motion on Sunday announced that Thorsten Heins as company’s new President and Chief Executive Officer. Mike Lazaridis, former Co-Chair and Co-CEO, has become Vice Chair of RIM’s Board and Chair of the Board’s new Innovation Committee. The Globe has reported that the company finally buckled to a year of pressure to replace Jim Balsillie and Mike Lazaridis, the two men who were the face of the company for decades, and who ran the company in a co-CEO system that investors had long ago declared untenable. On the transition...

Microsoft Corporation reported its Q2 2012 earnings with revenue of $20.89 billion, a 5% increase from the prior year period. The company operating income, net income, and diluted earnings per share for the quarter were $7.99 billion, $6.62 billion, and $0.78 per share, compared with $8.17 billion, $6.63 billion and $0.77 per share, respectively, in the prior year period. “We delivered solid financial results, even as we prepare for a launch year that will accelerate many of our key products and services,” said Steve Ballmer, chief...

Twitter, the world’s biggest micro-blogging website, made another move with the acquisition of Summify, a service that culls through your social media profile to deliver a daily digest of the most relevant stories to your inbox or an iPhone app. “Our long-term vision at Summify has always been to connect people with the most relevant news for them, in the most...

With the news confirmed, Yahoo has lost one of its top advertising sales executive Seth Dallaire to Amazon. Dallaire, earlier left Microsoft for Yahoo, and has worked with the company all since 2009 as an advertising sales executive. At Amazon, he will take a newly created role of VP of North America sales. His departure is a blow to Yahoo, especially at the time...

Sony Ericsson this morning reports that its pre-tax loss of 247 million euros ($318 million) in the 2011 Q4, after reporting a profit of 31 million euros in 2011 Q3. The company is a 50-50 percent joint-venture between Sony and Ericsson. The company blames the loss is due to the unfavourable macroeconomic conditions and effects from the flooding in Thailand. The...

Eastman Kodak Company (“Kodak”) announced today that it and its U.S. subsidiaries filed voluntary petitions for chapter 11 business reorganization in the U.S. Bankruptcy Court for the Southern District of New York. The Company has made pioneering investments in digital and materials deposition technologies in recent years, generating approximately 75% of its revenue from digital businesses in 2011. Kodak has obtained a fully-committed, $950 million debtor-in-possession credit facility with an 18-month maturity from Citigroup to enhance...

Zynga, a social network game company confirmed the names of all those four small mobile game companies it has recently acquired. The company’s top mobile executive David Ko told reuters that it had acquired the companies in recent months. The company acquired Hanover based GameDoctors in December, San Francisco based Page44 Studios in September, another San Francisco based HipLogic in August and New York based Astro Ape Studios. It did not disclose the sums paid for those companies. GameDoctors created mobile game ZombieSmash, Page44...

Samsung Group, south-Korean’s biggest business conglomerate group, announced that it would invest $41.4 billion in 2012 on new technologies, research and development, mergers and acquisitions and building new facilities, told reporters. Analysts strongly expect that company will raise its investment bar in mobile chips and next-generation OLED (organic light emitting...

Code 42 Software, a Minnesota-based online backup company, which is known well for the popular PC backup service Crashplan, has raised $52.5 million in investment led by Accel Partners with Split Rock Partners. Accel Partners and Split Rock Partners do holds now a minority stake in the company.  Code 42 has been doing Crashplan since from 2007. The point then was...