 | Good afternoon Bit |  |  | In an interview with Reuters, the head of HP's PC business Todd Bradley gave the throngs of people who lined up outside stores to snap up discontinued and deeply discounted TouchPads hope that the company wouldn't abandon them, saying the tablet could be resurrected. This, as the TouchPad was on track to become the second-best selling tablet of all time behind Apple's iPad.
GigaOm's Ryan Kim says HP's revelation muddies the waters, making the biggest maker of PCs in the world seem indecisive, which hurts it's stock price.
There are lessons to take away from HP's TouchPad firesale, argues Jon Collins of The Register. Chief among them is that there's a massive pent-up demand for tablets from any manufacturer at the expense low-end PC and netbook sales.
Barnes & Noble forecast sales of its Nook e-reader and e-books would more than double this fiscal year to $1.8 billion. Sales of the Nook group of devices, which includes a standalone as well as a touch-screen reader, rose 140 percent to $277 million in the quarter, comprising nearly 20 percent of the company's total sales and making it a larger business than the College Bookstore chain of 635 stores, where sales fell. CEO William Lynch said that the bookseller has 26 percent to 27 percent of the e-book market, the same market share he claimed last quarter.
Apple's iCloud isn't what it's made out to be, writes AllThingsD's Peter Kafka. In a demonstration of Apple's upcoming music service iTunes Match, what looked like streaming, whereby files are stored remotely and accessed online, was actually just an option to listen to songs while they are downloaded to the device used to play them. And that eliminates one of the main advantages of a cloud: freeing up much needed space on users' devices. Kafka suspects legal and licensing issues with big music labels and publishers are behind the move.
Google's board of directors faced a lawsuit for previously allowing Canadian pharmacies to advertise prescription drugs to U.S. customers via the Web search leader. The civil lawsuit claims the ads -- which Google stopped displaying in February 2010 -- led to what it calls the "illegal importation" of the drugs. Last week, the Department of Justice said Google agreed to pay $500 million to settle the investigation into ads it accepted for online Canadian pharmacies selling drugs in the United States.
Steve Jobs made Apple great by ignoring profit, Clayton Christensen and James Allworth argue. Disruptions, or incumbents moving upmarket and leaving the bottom of the market completely open for scrappy upstarts to enter, can explain the rise and fall of many great companies. But, despite being perceived as a premium, high-end player, Apple under Job's leadership has not only managed to avoid being disrupted by others, it has disrupted entire industries. Even more impressive, it's disrupting itself, Christensen and Allsworth add. | | | LATEST NEWS | | Graphene finding could lead to super-fast Internet | | August 30, 2011 11:55 AM ET | | LONDON (Reuters) - British scientists have devised a way of using graphene, the thinnest material in the world, to capture and convert more light than previously, paving the way for advances in high-speed Internet and other optical communications. | Full Article | | Samsung unveils 3 smartphones to run on own platform | | August 30, 2011 10:42 AM ET | | SEOUL (Reuters) - Samsung Electronics unveiled three smartphone models that run on its own operating system, as it seeks to expand market share in the low-end segment and diversify its lineups heavily focused on Google's Android software. | Full Article | | China state media urge crackdown on microblog "rumors" | | August 30, 2011 03:27 AM ET | | BEIJING (Reuters) - China's state-run news agency demanded on Tuesday that Internet companies, regulators and police do more to cleanse websites of "toxic rumors," adding to signs that the ruling Communist Party wants to tame the explosion of freewheeling microblogs. | Full Article | | | BUSINESS NEWS
| | Wall Street gains as Fed minutes boost stimulus bets | | August 30, 2011 04:37 PM ET | | NEW YORK (Reuters) - Stocks rose for a third straight day on Tuesday in a volatile session, after minutes from the latest Federal Reserve meeting boosted expectations the U.S. central bank will act again to stimulate the economy. | Full Article | | Consumer confidence crumbles to 2-year low | | August 30, 2011 04:35 PM ET | | NEW YORK (Reuters) - Consumer confidence plunged in August to its lowest since the 2007-2009 recession, after a bruising battle over the budget slammed stock prices and pushed the nation to the brink of default. | Full Article | | Exxon, Rosneft tie up in Russian Arctic, U.S. | | August 30, 2011 03:33 PM ET | | SOCHI, Russia (Reuters) - Exxon Mobil Corp and Rosneft announced a pact to extract oil and gas from the Russian Arctic, in the largest U.S.-Russian deal since President Barack Obama's push to improve ties. | Full Article | | Lehman payout plan OK'd for creditor vote | | August 30, 2011 04:30 PM ET | | NEW YORK (Reuters) - Creditors of Lehman Brothers Holdings Inc will be allowed to vote on the failed bank's $65 billion payback plan, clearing a major hurdle in the path to ending the biggest bankruptcy in U.S. history. | 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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