Technology Report: AOL expands local news network in U.S.

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	05/16/2011
Good afternoon Bit (This newsletter has been corrected from an earlier version to say RIM shares neared a two-year low, did not hit a two-year low) Research in Motion shares neared a two-year low after the Blackberry maker said it has recalled about 1,000 of its Playbook tablets due to an operating system bug. Most of the devices affected remain in the distribution channel and haven't yet been sold to customers, the Canadian company said in a statement posted on CrackBerry.com. RIM said it will replace faulty tablets and prompted customers who had received one to contact the company for help. Engadget, the technology blog that first broke the news over the weekend, has compiled a spreadsheet of the 935 alleged serial numbers affected by the recall. Sony began restoring access to its PlayStation Network games service over the weekend, nearly a month after it was shut down due to a massive security breach that exposed personal details of 100 million users. The Japanese electronics and entertainment company apologized to customers for the service disruption and said it had implemented a new early warning system that would help prevent similar attacks in the future. Sony will phase in service on a country by country basis with the aim of having the process completed by May 31. AT&T plans to launch a wireless security service for consumers next year that will help combat a big spike in cyber attacks on mobile devices, said John Stankey, the company's head of enterprise business, in an interview ahead of the Reuters Technology and Telecommunications Summit. Stankey said customers' current reluctance to pay for such services will likely change as they become more aware of security threats that arise from using smartphones to download Web-based applications. Barnes & Noble marked a milestone on Monday as it announced that 1 million applications had been downloaded from its Nook Color marketplace after its first week of business. Angry Birds topped the list as the most popular paid application, with Solitaire, Drawing Pad, Aces Jewel Hunt and Astraware rounding out the top five on the list. LATEST NEWS AOL expands local news network in U.S. May 16, 2011 02:59 PM ET NEW YORK (Reuters) - AOL Inc is expanding its local news network, Patch, with the launch of 33 sites in targeted states as the United States gears up for a national election. | Full Article Yahoo faces tough ride to iron out differences with Alibaba May 16, 2011 09:43 AM ET SHANGHAI (Reuters) - Yahoo Inc and Alibaba Group will find it difficult to resolve their feud over the Chinese company's transfer of a major Internet asset, raising questions over how long its troubled marriage would last. | Full Article Libya says telecoms staff to act shield against NATO May 16, 2011 03:41 PM ET TRIPOLI (Reuters) - Libya said Monday that tens of thousands of telecoms workers would act as human shields to deter NATO strikes on communications infrastructure, which it said had inflicted serious financial damage. | Full Article AOL launches professional division May 15, 2011 08:01 PM ET NEW YORK (Reuters) - AOL Inc is launching a professional division called AOL Industry on Monday aimed at government, energy and defense executives. | Full Article Nasdaq leads Wall Street lower on economic worry May 16, 2011 04:25 PM ET NEW YORK (Reuters) - The Nasdaq sank, leading U.S. stocks lower on Monday, as investors sold recent winners in a sign of growing unease with pockets of U.S. economic weakness. | Full Article BUSINESS NEWS Nasdaq, ICE withdraw NYSE bid, cite regulators May 16, 2011 12:19 PM ET NEW YORK (Reuters) - Nasdaq OMX Group Inc and IntercontinentalExchange withdrew their hostile $11.3 billion bid for rival NYSE Euronext on Monday, citing opposition from U.S. antitrust regulators. | Full Article New TMX takeover proposal eyes foreign expansion May 16, 2011 03:42 PM ET TORONTO (Reuters) - A proposal by a group of Canadian banks and pension funds to take over the operator of the Toronto Stock Exchange offers cost savings and opportunities for international growth, the group said on Monday. | Full Article Gross says PIMCO "never" short Treasuries: report May 16, 2011 01:28 PM ET NEW YORK (Reuters) - Bill Gross, manager of top bond fund PIMCO, said on Monday it was a "misconception" that the firm was betting against U.S. Treasuries, despite his concerns about the U.S. fiscal outlook. | Full Article Lowe's cuts outlook after weak spring sales May 16, 2011 10:54 AM ET NEW YORK (Reuters) - Lowe's Cos reported weaker-than-expected quarterly results on a slow start to the spring selling season, prompting the world's second-largest home improvement chain to cut its forecast for the year. | Full Article Strauss-Kahn denied bail in sex assault case May 16, 2011 03:32 PM ET PLEASE NOTE: Sexually explicit language in paragraphs 13-14 | Full Article U.S. TOP NEWS ICC prosecutor targets Gaddafi as NATO steps up raids Ryan pushes spending cuts as U.S. hits debt limit Trump abandons designs on White House in 2012 Louisiana floodwaters creep toward bayou towns Three get jail in president corpse snatch RELATED VIDEO Shuttle Endeavour blasts off Shuttle Endeavour launches Solar plane's first international flight A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. 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