 | Good afternoon Bit |  |  | Nokia is likely to be paid hundreds of millions of dollars by Apple after victory in a legal wrangle over technology used in its arch-rival's top-selling iPhone. Nokia said the deal would boost second-quarter earnings. Analysts said it was clear the sums involved would be significant, with some experts estimating Apple's one-off payment at $650 million.
J.C. Penney is bringing in Ron Johnson, Apple's senior vice president of retail, who oversaw the iPad maker's wildly successful foray into brick and mortar stores as its new chief executive. Johnson will take the reigns November 1, Penney said.
The recent string of sensational hacker attacks is driving companies to seek "cyberinsurance" worth hundreds of millions of dollars, even though many policies can still leave them exposed to claims, writes Ben Berkowitz. Insurers and insurance brokers say demand is soaring, as companies try to protect themselves against civil suits and the potential for fines by governments and regulators, but also as they seek help paying for mundane costs like "sorry letters" to customers.
World leaders should put cyber security on the international agenda at forums such as the G20 and bring pressure to bear on "slower-moving" nations to take a stand against hacking, Peter Coroneos, co-founder of the International Internet Industry Association said. "Getting the issue elevated to a level like the G20 would be a good way to promote engagement with economies that might otherwise move a little slower," Coroneos told Reuters.
It may take the Supreme Court to end a years-long battle between Olympic rowing twins Cameron and Tyler Winklevoss, and Facebook founder Mark Zuckerberg. The identical twin brothers are challenging a San Francisco federal appeals court ruling that upheld a $65 million cash-and-stock settlement they reached with Facebook in 2008. While they appeal to the Supreme Court, related litigation will be on hold, the appeals court ruled late on Monday.
Advanced Micro Devices is launching new processors aimed at mainstream personal computers and challenging rivals Intel and Nvidia. AMD's Llano chips, which include both central and graphics processors, are aimed at mid- to high-end laptops and desktop computers. The chips, part of AMD's Fusion family, have much-improved battery life and will soon be available in laptop and desktop computers, the Sunnyvale, California-based company said.
Google and solar power company SolarCity formed a partnership to create a new $280 million fund designated for residential solar projects -- the largest of its kind in the U.S.. Customers who want solar panels installed on their homes but do not want to make a big upfront investment, are able to tap the fund. SolarCity has more than 15,000 solar projects and finances about 80 percent of the its customers' solar systems. | | | LATEST NEWS | | Google shows features to speed up Web searches | | June 14, 2011 02:41 PM ET | | SAN FRANCISCO (Reuters) - Google Inc unveiled new features and technology to speed up Web searches and to make it easier for people to use its flagship search engine as they increasingly access the Internet from handheld mobile devices. | Full Article | | After RIM warning, all eyes on new product outlook | | June 14, 2011 03:50 PM ET | | TORONTO (Reuters) - Ever since Research In Motion warned about its quarterly results a month ago, investors have wanted to find out what the BlackBerry maker is doing to save its current quarter as it struggles to roll out competitive new products. | Full Article | | California judge sides with Rambus on shredding | | June 14, 2011 04:32 PM ET | | SAN FRANCISCO (Reuters) - Rambus successfully fended off an attempt by opponents in an upcoming $4.38 billion antitrust trial to use a recent negative court ruling over document shredding against the chipmaker. | Full Article | | Yemeni blogger seeks Swedish asylum after threats | | June 14, 2011 02:17 PM ET | | STOCKHOLM (Reuters) - A Yemeni blogger said on Tuesday she has applied for political asylum in Sweden after receiving death threats for her criticism of President Ali Abdullah Saleh and fears growing violence in her homeland. | Full Article | | | BUSINESS NEWS
| | Wall Street rebounds in oversold market | | June 14, 2011 04:22 PM ET | | NEW YORK (Reuters) - Stocks posted their biggest gains in nearly two months on Tuesday as retail sales figures allayed fears over the economy that had driven a six-week slump in the market. | Full Article | | Consumers spend less, recovery seen on horizon | | June 14, 2011 04:41 PM ET | | WASHINGTON (Reuters) - Consumers have not pulled back aggressively despite the recent slowdown in the economy, retail sales data showed on Tuesday, and falling gasoline prices should support growth in the months ahead. | Full Article | | Bernanke warns of crisis if debt limit not raised | | June 14, 2011 04:26 PM ET | | WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke warned on Tuesday that a failure to lift the government's $14.3 trillion debt ceiling risks a potentially disastrous loss of confidence in America's creditworthiness. | 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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