Technology Report: Analysis: Press barons lose information monopoly in Twitter era

If you are having trouble viewing this email or would like to view it in your web browser, CLICK HERE
	07/14/2011
Good afternoon Bit Google shares soared in after-hours trade as the company's second-quarter revenue zoomed past Wall Street expectations. The Internet giant's net revenue, which excludes fees paid to partner websites, jumped 36 percent to $6.92 billion in the second quarter. Growth in a range of business from mobile to online video helped the company ring up a strong quarterly profit that also exceeded investor expectations. "Google should be viewed as a growth company again this quarter," Stifel Nicolaus analyst Jordan Rohan told Reuters. "The combination of mobile search, Android, ad exchange, YouTube, and the core search businesses, they're all doing well. Google is no longer a one-trick pony." The pool of underwriters working on Groupon's upcoming initial public offering just got a lot bigger. The online daily deals website has added 11 new underwriters, including JPMorgan, Allen & Co, Bank of America Merrill Lynch, Barclays Capital, Citigroup, Deutsche Bank Securities, William Blair & Co, Citadel Securities, Loop Capital Markets, RBC Capital Markets and the Williams Capital Group, according to an updated regulatory filing. They join Morgan Stanley, Goldman Sachs and Credit Suisse, who were the lead underwriters named in the earlier filing. Blockbuster unveiled a new promotion on Thursday aimed at scooping up Netflix subscribers who are unhappy about new price increases the company announced this week to its streaming-and-DVD plan. Blockbuster, which is owned by Dish Network, offered Netflix customers who switched to one of Blockbuster's "total access" plans a 30-day free trial. Netflix has tried to deflect the rage from its subscribers. "We knew there would be some people who would be upset," a company spokesman told the International Business Times recently. "To most people, it's a latte or two." Is Research in Motion working on a Web TV device? Boy Genius Report picks up on a post over at BlackBerry fan site NerdBerry.net that claims the company will launch the media player this fall. Codenamed "BlackBerry Cyclone", the device is rumored to be similar to Apple's TV box and will enable users to stream media from sites such as Neflix and YouTube directly to their television. LATEST NEWS Analysis: Press barons lose information monopoly in Twitter era July 14, 2011 01:57 PM ET LONDON (Reuters) - Britain's celebrities might no longer have to worry about the News of the World hacking phones or rifling their bins, but the manner of the paper's demise shows controlling information is getting much more difficult. | Full Article Pentagon to treat cyberspace as "operational domain" July 14, 2011 05:31 PM ET WASHINGTON (Reuters) - The Defense Department unveiled a new strategy for protecting military computer networks from hackers on Thursday, designating cyberspace as an "operational domain" U.S. forces will be trained to defend. | Full Article Blockbuster targets disgruntled Netflix customers July 14, 2011 04:16 PM ET NEW YORK (Reuters) - Blockbuster is seeking to persuade incensed Netflix Inc customers to switch their allegiances, after the fast-growing online video service provoked a storm of outrage this week by raising prices as much as 60 percent | Full Article Apple pays S.Korean user compensation over iPhone tracking July 14, 2011 05:48 AM ET SEOUL (Reuters) - Apple Inc's Korean unit has paid compensation to a user of its popular iPhone after collecting location data without consent, lawyers and court officials said, the first payout by the company over these complaints. | Full Article Bernanke halts Wall St rally; Google jumps late July 14, 2011 04:58 PM ET NEW YORK (Reuters) - Stocks fell on Thursday as Fed Chairman Ben Bernanke backed off hints additional near-term stimulus could be on the way, removing a possible catalyst from a market already facing plenty of obstacles. | Full Article BUSINESS NEWS Jobless claims fall, but retail sales timid July 14, 2011 02:54 PM ET WASHINGTON (Reuters) - The economy may not see a strong pick-up in growth in the second half of 2011 as the number of Americans filing for first-time jobless benefits remained high last week and retail sales barely rose in June. | Full Article JPMorgan profit rises, loan book grows July 14, 2011 05:14 PM ET NEW YORK (Reuters) - JPMorgan Chase & Co posted a higher-than-expected second-quarter profit as it wrote off fewer bad mortgages and credit card loans. | Full Article Bernanke warns spending cuts could derail recovery July 14, 2011 06:11 PM ET WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke warned on Thursday that overzealous cuts to government spending in the short term could derail a shaky recovery and said a debt default could wreak financial havoc. | Full Article UBS wins review of Madoff trustee's $2.6 billion suits July 14, 2011 04:34 PM ET NEW YORK (Reuters) - UBS AG won review by a Manhattan federal judge of $2.6 billion of lawsuits brought by the trustee liquidating Bernard Madoff's firm, at least the fourth time a bank has obtained access to that court. | Full Article Murdochs bow to pressure to attend UK parliament July 14, 2011 06:22 PM ET LONDON (Reuters) - Rupert Murdoch on Thursday caved in to pressure from Britain's parliament to answer questions over alleged crimes at one of his newspapers, setting up a showdown with lawmakers keen to break the media mogul's grip on politics. | Full Article U.S. TOP NEWS Obama, lawmakers debate taxes in latest deficit talk FBI to probe News Corp 9/11 hacking allegations Moody's puts U.S. ratings on review for downgrade Deutsche Boerse owners back $9.7 billion NYSE merger JetBlue offers $4 L.A.-area "Carmageddon" flights RELATED VIDEO New players enter voucher market New players enter voucher market Munich scientists set to electrify Frankfurt Auto Show 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 Cuddling, caressing more important for men: study Full Article Earliest Austen manuscript fetches $1.6 million Sister Wives family to challenge Utah polygamy laws Sisters sue cemetery over grave mix-up Calif. woman charged with torture in severed penis case - 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. Follow us on Twitter Friend us on Facebook Forward to a friend