Technology Report: Senators skeptical of Google, Apple mobile privacy

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	05/10/2011
Good afternoon Bit Microsoft's move to buy money-losing Internet phone service Skype for $8.5 billion was immediately skewered by critics and investors, who questioned the logic of the deal and suggested the software giant is paying far too much. The price is about double the expected value of Skype if it had gone ahead with its planned IPO. "They really have to do some explaining as to how this company merited that price and how they'll return the value to shareholders," said Kim Caughey Forrest, at Fort Pitt Capital Group, which holds Microsoft shares. The deal was a fresh reminder that Microsoft has no record of making acquisitions pay off. Its 2007 deal to buy online ad firm aQuantive for $6 billion was a flat-out failure, writes Bill Rigby. Google launched "Music Beta by Google", an online music locker service on that allows users to store and access their songs wherever they are, similar to one launched by Amazon.com in March. And like the Amazon Cloud Drive player, the Google music service is being introduced without any prior licensing deals with major music labels, following months of fruitless negotiations. Sony said it would take at least "a few more days" to restore service to its online PlayStation Network, which was breached by hackers in one of the largest Internet break-ins of all time. LATEST NEWS Senators skeptical of Google, Apple mobile privacy May 10, 2011 04:39 PM ET WASHINGTON (Reuters) - Lawmakers considering new privacy laws scolded Google and Apple on Tuesday for not doing enough to guard mobile device users' location data, despite executives' assertions that they do not abuse the information. | Full Article Warner Music beats estimates on digital sales May 10, 2011 04:36 PM ET NEW YORK (Reuters) - Warner Music Group, which is being bought by billionaire Len Blavatnik's Access Industries, reported a narrower-than-expected quarterly loss, helped by a 9 percent jump in digital revenue. | Full Article Twitter brings world closer for Japan quake charity e-book May 09, 2011 09:27 PM ET TOKYO (Reuters) - An avid Twitter user's desire to help Japan recover from the devastating March earthquake and tsunami has resulted in a charity e-book based on material gathered from around the world -- all within three days. | Full Article Analysis: Huawei lifts veil in bold bet on consumer gadgets May 10, 2011 03:07 AM ET HONG KONG (Reuters) - China's Huawei Technologies is making an aggressive push into the consumer electronics space, marketing its new smartphones and tablet PCs in glitzy Beijing malls and even a Milan fashion show as it seeks to emerge from decades of obscurity. | Full Article LinkedIn IPO price hints at social media caution May 09, 2011 06:05 PM ET NEW YORK/BANGALORE (Reuters) - LinkedIn Corp has priced its closely watched initial public offering at a bargain compared to rivals such as Renren Inc and Facebook, underscoring growing caution over social media valuations. | Full Article BUSINESS NEWS Utilities lift Wall Street as leadership shifts May 10, 2011 04:41 PM ET NEW YORK (Reuters) - Stocks rose for a third day on Tuesday, led by utilities and other defensive sectors that may drive further gains as investors bet on profit growth and set aside concerns about weakening demand. | Full Article Disney's rare revenue miss hurts shares May 10, 2011 04:47 PM ET NEW YORK (Reuters) - Walt Disney Co reported a rare revenue miss after a weak box office performance that sent its shares down 3 percent. | Full Article China offers concession on key trade irritant May 10, 2011 03:53 PM ET WASHINGTON (Reuters) - China on Tuesday pledged to make it easier for U.S. companies to win Chinese government contracts, addressing a long-standing complaint of foreign corporations seeking a piece of the fast-growing market. | Full Article Charity to auction lunch date with Warren Buffett May 10, 2011 03:01 PM ET NEW YORK (Reuters) - If you have a couple million dollars to spare and a taste for steak, Warren Buffett is looking for lunch companions. | Full Article EU paymaster Merkel guarded on new aid for Greece May 10, 2011 02:34 PM ET BERLIN/ATHENS (Reuters) - German Chancellor Angela Merkel, Europe's reluctant paymaster, said on Tuesday she could only discuss further aid for Greece after EU and IMF officials report on implementation of its existing rescue plan. | Full Article U.S. TOP NEWS U.S. hopes to question bin Laden's wives Bahrain expels Reuters correspondent CIA to let some senators see bin Laden photos Battle lines harden ahead of budget talks Scientists stung by theft of research bees RELATED VIDEO Exquisite chocolate source rediscovered through DNA testing Green and clean: electric trash carts hit Paris streets Dead flies and mice could power future robots A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. 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