BRUSSELS (Reuters) - The European Union's antitrust chief on Monday ratcheted up the pressure on Google, giving it a matter of weeks to settle an investigation into allegations of anti-competitive behavior and avoid formal charges and a possible fine. Even if Google, the world's most popular search engine, offers concessions to resolve the issue, it will still be under the EU spotlight after fresh complaints about its Android mobile software, the top operating system for Internet-enabled smartphones. ...
Yahoo! News: Technology News (10 unread)
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EU offers Google last chance in antitrust case
Posted: May 21st, 2012, 3:55pm EDT
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CableWiFi to offer more than 50,000 free access points to cable subscribers
Posted: May 21st, 2012, 3:35pm EDT
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Five major U.S. cable companies have teamed up to offer more than 50,000 free Wi-Fi hotspots to subscribers. The service will be known as “CableWiFi,” and will be offered to customers of Bright House Networks, Cablevision, Comcast, Cox Communications and Time Warner Cable. The service initially launched in New York City and central Florida earlier May, and is set to expand to other markets in the coming months. “This effort adds great value to our high speed Internet customers by providing free wireless Internet access on all of their WiFi enabled devices in our markets and additional areas across the country,” said Nomi Bergman, President of Bright House Networks. The joint press release follows below. Major U.S. Cable Companies Join
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Where are Facebook's friends? Stock down after IPO
Posted: May 21st, 2012, 3:33pm EDT
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Facebook's stock is tumbling well below its $38 IPO price in the social network's second day of trading as a public company on Monday.
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The Facebook Effect: Zynga, other stocks down
Posted: May 21st, 2012, 3:30pm EDT
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Facebook's tepid start as a publicly traded company dragged other social media and related stocks lower on Monday. -
Facebook shares sink as reality overtakes hype
Posted: May 21st, 2012, 3:21pm EDT
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(Reuters) - Facebook shares sank in the first day of trading without the full support of the company's underwriters, leaving some investors down almost 25 percent from where they were Friday and driving others to switch back to more established stocks. Facebook's debut was beset by problems, so much so that Nasdaq said on Monday it was changing its IPO procedures. That may comfort companies considering a listing, but does it little for Facebook, whose lead underwriter, Morgan Stanley, had to step in and defend the $38 offering price on the open market. ...
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Court won't reduce student's music download fine
Posted: May 21st, 2012, 3:13pm EDT
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A former Boston University student who was ordered to pay $675,000 for illegally downloading and sharing 30 songs on the Internet says he will continue fighting the penalty, despite the Supreme Court's refusal Monday to hear his appeal.
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In Cuba, mystery shrouds fate of Internet cable
Posted: May 21st, 2012, 3:10pm EDT
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It was all sunshine, smiles and celebratory speeches as officials marked the arrival of an undersea fiber-optic cable they promised would end Cuba's Internet isolation and boost web capacity 3,000-fold. Even a retired Fidel Castro had hailed the dawn of a new cyber-age on the island.
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Early Facebook mutual fund buyers likely made money
Posted: May 21st, 2012, 3:07pm EDT
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(Reuters) - Fidelity Investments and other big mutual fund families that were early backers of Facebook Inc are likely still winners despite the social network's troubled stock market debut. Facebook shares were initially priced at $38 per share on Thursday after the market closed. Despite an initial bump, they have since fallen and were trading around $34 a share on Monday afternoon. That led to much hand-wringing among technology investors who had expected a bigger boost for the widely-used service. ... -
Investors relieved they got shut out of Facebook IPO
Posted: May 21st, 2012, 3:07pm EDT
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NEW YORK (Reuters) - Curtis Arnold tried to buy Facebook Inc stock 10 times throughout the day on Friday through his online brokerage, E*Trade Financial Inc. Each time, he tried to make the $25,000 purchase of shares, E*Trade's trading site either timed out or he received a message that said trading in the stock had halted, Arnold said. "I finally got so frustrated that I quit," he said. Now that the stock is trading 10 percent below its original $38-per-share price, Arnold, who is founder of credit card rating site Cardratings.com, said he is relieved. ... -
Apple, Samsung CEOs in U.S. court talks on patents
Posted: May 21st, 2012, 3:02pm EDT
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SAN FRANCISCO (Reuters) - The chief executives of Apple Inc and Samsung Electronics Co Ltd were summoned for court-directed mediation on Monday over the iPhone maker's claims the Korean firm has "slavishly" copied some of its products. Apple's Tim Cook and Samsung's Choi Gee-sung were instructed by a federal judge to appear for a two-day mediation to help resolve the bitter patent litigation between the two companies. There was no sign of either CEO at the San Francisco federal courthouse on Monday. ...