 | Good afternoon Bit |  |  | Apple denied it is tracking the movements of its iPhone customers, but said it will provide a software update that stores less location information on phones in response to public outcry over privacy issues. Apple plans to release a software update that would cut the size of the wireless hotspot location database stored on its iPhones, and stop backing up that information. The software will be released in the next few weeks, it said.
Users of location-based services like those offered on iPhones have a hard time reconciling the security and privacy implications that come with allowing third parties access to their information, writes Mashable's Christina Warren.
Sony's delay in announcing that hackers had stolen names, addresses and possibly credit card details from the 77 million user accounts of its video game online network sparked an online furor from users. Some gamers writing in online forums called for a boycott of Sony products, while shoppers at London video-games stores said they might leave the PSN network, which allows them to play games with other members and buy games online. A Sony spokesman said that after learning of the breach it took "several days of forensic investigation" before the company knew consumers' data had been compromised.
One U.S. class-action lawyer said he was considering filing a lawsuit against Sony on behalf of consumers as soon as this week. Also, the Iowa and Connecticut attorneys general, who act as consumer advocates for their states, were discussing the matter with their staff, according to their offices. And a government watchdog in Britain said it had already launched an investigation of the incident, which put credit card information at risk.
Nokia will axe 7,000 jobs and outsource its legacy Symbian software to cut $1.46 billion of costs as it struggles to compete in the fierce smartphone market. The move includes laying off 4,000 staff and transferring another 3,000 to services firm Accenture - a total 12 percent of its phone unit workforce. Accenture will take over Symbian software activities and support future smartphones, including those running on Microsoft's Windows platform.
Google introduced its Docs app for Android phones, which allows users to upload content and open documents directly from Gmail. The app can also perform optical character recognition, turning text captured from the phone's camera into an editable document. | | | LATEST NEWS | | EBay profit tops forecasts on higher sales | | April 27, 2011 04:34 PM ET | | NEW YORK (Reuters) - EBay Inc reported a higher than expected quarterly profit as it sold much more merchandise on its marketplaces and its PayPal payment system was used by more merchants. | Full Article | | FBI probes of some cyber attacks face troubles | | April 27, 2011 01:31 PM ET | | WASHINGTON (Reuters) - FBI agents have had trouble investigating cyber attacks involving national security because they lack the needed technical expertise or are often transferred or diverted to other cases, according to a government report released on Wednesday. | Full Article | | Rivals seek joint review of AT&T's deals | | April 27, 2011 02:49 PM ET | | NEW YORK (Reuters) - AT&T's rivals have asked U.S. regulators to combine a review of AT&T's proposed purchase of T-Mobile USA with their examination of its plan to buy wireless airwaves from Qualcomm Inc . | Full Article | | PepsiCo to launch social vending machine | | April 27, 2011 03:03 PM ET | | NEW YORK (Reuters) - PepsiCo Inc is introducing a "social vending" machine that lets users buy each other drinks remotely, further proof that its decades-old rivalry with Coca-Cola Co is going ever-more high tech. | Full Article | | | BUSINESS NEWS
| | Nasdaq ends at 10-year high in Bernanke-fueled rally | | April 27, 2011 04:33 PM ET | | NEW YORK (Reuters) - The Nasdaq jumped to a 10-year high as U.S. stocks rallied on Wednesday after Fed Chairman Ben Bernanke's first-ever press conference did nothing to short-circuit investors' optimistic outlook on the economy. | Full Article | | GE sees best profit outlook in a decade, execs say | | April 27, 2011 04:05 PM ET | | SALT LAKE CITY (Reuters) - General Electric Co sees its best earnings growth prospects in a decade as the global economic recovery drives demand for the heavy energy and aviation equipment it makes, top executives said. | Full Article | | | | U.S. TOP NEWS | | | | | RELATED VIDEO | | |  |  | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today. |  | | Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents. Register Today. |  | | The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.. Register Today. | | | » MORE NEWSLETTERS | | | ODDLY ENOUGH | | | | | | |
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