Technology Report: Nokia drops targets and shares slump to 13-year low

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	05/31/2011
Good afternoon Bit Apple's Chief Executive Steve Jobs, who spent months on medical leave, will open an annual developers' conference on June 6 showcasing the iPad maker's latest computer software and a new cloud computing service. But it's unclear if he's returning from medical leave or simply kicking off the conference. Jobs and his team plan to unveil a new cloud-based service called iCloud, which will offer remote computing and data over the Internet, and a slew of software upgrades at the conference including Lion, its Mac OS X computer operating system, and iOS 5, the next version of its mobile operating system. Nokia abandoned hope of meeting key targets just weeks after setting them, raising questions over whether its new boss can deliver on the turnaround he promised in February. The news sent its shares tumbling 18 percent to their lowest in 13 years, wiping some $5.5 billion off its market value. Investors are worried the company, once the leading force in its industry, is losing so much market share it may never regain its footing. World Health Organization (WHO) cancer experts say using a cell phone may increase the risk of developing certain types of brain tumor and consumers should consider ways of reducing their exposure. A working group of 31 scientists from 14 countries meeting at the WHO's International Agency for Research on Cancer (IARC) say a review of all the available scientific evidence suggested cell phone use should be classified as "possibly carcinogenic." The WHO had previously said there was no established evidence for a link between cell phone use and cancer. And for a sneak peak of the Cr-48 laptop, the first implementation of Google's cloud-based Chrome operating system, give Steve Levy's piece in Wired a read. Levy's not quite sure we're ready for a "cloud"-based future. See what you think. LATEST NEWS Nokia drops targets and shares slump to 13-year low May 31, 2011 01:02 PM ET HELSINKI (Reuters) - Mobile phone maker Nokia Oyj abandoned hope of meeting key targets just weeks after setting them, raising questions over whether its new boss can deliver on the turnaround he promised in February. | Full Article Intel unveils laptops that include tablet features May 31, 2011 08:31 AM ET TAIPEI/SAN FRANCISCO (Reuters) - Intel unveiled a new category of laptops that it says will include the best features of tablets as the world's top chipmaker struggles to find its footing in the exploding market for mobile gadgets. | Full Article WHO says cell phone use "possibly carcinogenic" May 31, 2011 02:52 PM ET LONDON (Reuters) - Using a mobile phone may increase the risk of developing certain types of brain tumor and consumers should consider ways of reducing their exposure, World Health Organization (WHO) cancer experts said on Tuesday. | Full Article Sony to cut TV losses by about 50 percent in 2011/12: report May 31, 2011 03:13 PM ET BANGALORE (Reuters) - Sony Corp will look to reduce operating losses in its television business by at least half in the current fiscal year through March 2012, Chief Financial Officer Masaru Kato said in an interview with the Nikkei business daily. | Full Article Greece hopes lift stocks, but economy drags May 31, 2011 01:44 PM ET NEW YORK (Reuters) - Hopes of more financial aid for debt-stricken Greece lifted Wall Street on Tuesday, but a sharp bounce at the open was largely eroded as more weak economic data brought investors back to earth. | Full Article BUSINESS NEWS Weak data point to sluggish economy May 31, 2011 03:42 PM ET NEW YORK (Reuters) - A double-dip in home prices, pessimistic consumers and a slowdown in regional manufacturing raised concerns on Tuesday that the economy's soft patch could become protracted. | Full Article Greece moves on austerity deal, opposition wants more May 31, 2011 02:44 PM ET ATHENS (Reuters) - Greece appears to have agreed a tax cut with its international lenders, aimed at forging a broad consensus for more austerity to avoid a debt default, but the opposition said on Tuesday this would still not win its support. | Full Article Higher prices, fewer cars likely hurt May auto sales May 31, 2011 02:22 PM ET DETROIT (Reuters) - Higher car prices and a shortage of fuel-efficient vehicles likely threw a roadblock in the U.S. auto industry's recovery path in May, when the Japan crisis had its biggest impact on U.S. sales so far. | Full Article Ally Financial bets on risky subprime car loans May 31, 2011 02:02 PM ET NEW YORK (Reuters) - Ally Financial Inc, the United States' largest maker of car loans, hopes that people have forgotten the time when "subprime" became a synonym for "disaster." | Full Article U.S. files new charges against September 11 accused May 31, 2011 02:52 PM ET MIAMI (Reuters) - U.S. military prosecutors have filed new charges against the self-described mastermind of the September 11 attacks in 2001, Khalid Sheikh Mohammed, and four alleged co-conspirators held at the Guantanamo detention camp. | Full Article U.S. TOP NEWS Yemen truce ends in blasts, stokes civil war worries Libya's Gaddafi: I will not leave my country Palin tour: campaign prelude or publicity stunt? Egypt's Mubarak unfit for prison move: prosecutor Malta backs introduction of divorce in referendum RELATED VIDEO Car parts from coal waste more than a concept Google's cash-free shopping spree Paying by phone not credit card 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 Infamous tax man faces new trial over fake passport Full Article - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. 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