Technology Report: All aboard the privacy-breach gravy train

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	06/1/2011
Good afternoon Bit Google revealed that unknown hackers likely originating from central China tried to hack into the Gmail accounts of hundreds of users, including senior U.S. government officials, Chinese activists and journalists. Google said on its official blog that the hackers, who appeared to originate from Jinan, China, recently tried to crack and monitor email accounts by stealing passwords, but Google detected and "disrupted" the campaign. Analysts predicted more gloom ahead for Nokia and the struggling phone maker was forced to deny talk it would sell its core business to Microsoft. The company's stock fell as much as 10 percent but recovered in late trading, sparked by a website report that said its software partner Microsoft would buy out its phones business for $19 billion. Nokia called the report "100 percent baseless." Microsoft declined to comment. Microsoft has told chipmakers who want to use the next version of Windows for tablet computers, to work with only one manufacturer to speed up delivery, Bloomberg said, citing people with knowledge of the matter. Google Executive Chairman Eric Schmidt told a conference that Facebook had rebuffed its entreaties to team up, while acknowledging he had not pushed hard enough to address the rising threat posed by the social networking site during his tenure as CEO. "Three years ago I wrote memos talking about this general problem. I knew that I had to do something and I failed to do it," Schmidt said. Film studio Miramax and Internet video company Hulu signed a multi-year agreement to bring films made by the studio to some Hulu subscribers. Hulu Plus subscribers, who get access to some premium content, will be able to watch films like Pulp Fiction, Good Will Hunting and Scream, as part of the agreement. LATEST NEWS All aboard the privacy-breach gravy train June 01, 2011 05:02 PM ET NEW YORK (Reuters) - The hacking of a Sony Corp customer database this spring has attracted class-action lawyers and consumers eager to cash in on the high-profile privacy breach. | Full Article Expedia, Groupon create travel deal website June 01, 2011 04:03 PM ET CHICAGO (Reuters) - Online coupon service Groupon and online travel agency Expedia Inc have created a website to offer people travel deals and to let travel suppliers expose their brands to shoppers. | Full Article Twitter CEO says 80 percent of advertisers renew June 01, 2011 03:45 PM ET PALOS VERDES, Calif./SAN FRANCISCO (Reuters) - More than 80 percent of the companies that advertise on Twitter renew their marketing efforts on the microblogging service, the company's chief executive said on Wednesday. | Full Article North Korea hacker threat grows as cyber unit grows: defector June 01, 2011 08:35 AM ET SEOUL (Reuters) - Secretive North Korea is scouring its universities for computer prodigies to send overseas for training as part of a plan to expand its cyber warfare unit, a defector said on Wednesday, underscoring the increased risk of cyber attacks. | Full Article LightSquared near $2 billion a year Sprint deal: sources June 01, 2011 12:55 PM ET NEW YORK (Reuters) - Sprint Nextel Corp is close to completing a $2 billion-a-year network sharing agreement with hedge fund billionaire Phil Falcone's LightSquared telecommunications venture, sources familiar with the matter said on Wednesday. | Full Article BUSINESS NEWS June starts ominously for teetering Wall Street June 01, 2011 05:03 PM ET NEW YORK (Reuters) - Wall Street ended a four-day rally with its worst session since August on Wednesday and could suffer more losses in coming days as investors faced more signs the economic recovery is fading. | Full Article Nokia calls report of Microsoft deal "baseless" June 01, 2011 11:58 AM ET HELSINKI/NEW YORK (Reuters) - Shares in struggling mobile phone handset maker Nokia Oyj jumped on Wednesday in reaction to a web site report that said U.S.-based Microsoft Corp had struck a deal to buy its mobile phone business for $19 billion. | Full Article Jobs and factory slowdown pile on recovery fears June 01, 2011 03:15 PM ET NEW YORK (Reuters) - U.S. companies hired far fewer workers than expected in May and output in the manufacturing sector slowed to its lowest level since 2009, adding to concerns that the U.S. recovery is running out of steam. | Full Article May auto sales dip as price strategy backfires June 01, 2011 03:37 PM ET DETROIT (Reuters) - Major automakers are on track to report far weaker May auto sales than expected on Wednesday as higher vehicle prices prompted consumers to put off purchases in the face of a weakening economy. | Full Article Greece nears IMF/EU deal and dismisses drachma talk June 01, 2011 03:52 PM ET ATHENS (Reuters) - Greece should complete talks by the end of the week with EU and IMF inspectors on a medium-term budget plan plus a vital next slice of international aid, sources close to the negotiations said on Wednesday. | Full Article U.S. TOP NEWS Google reveals Gmail hacking, likely from China At White House, Obama presses Republicans on debt cap Libya's oil chief Ghanem defects, in Rome now Taxpayer loss on auto bailout narrows Syrian forces kill 41 civilians in Rastan: lawyer RELATED VIDEO Extreme weather keeps scientists on alert Belgian Shepherd trained to detect cancer Car parts from coal waste more than a concept A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. 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