 | Good afternoon Bit |  |  | AT&T was expected to soon present a two-track plan that allows the company to try to find a settlement before the government lawsuit to block its planned $39 billion acquisition of smaller rival T-Mobile USA reaches the court. Details of AT&T's proposed settlement were not available, but it is expected to include pledges to maintain T-Mobile's relatively cheap mobile subscription plans, and asset sales.
TechCrunch founder Michael Arrington created a venture capital fund to invest in promising start-ups, sparking controversy over possible conflicts of interest involving the fund and questions about the integrity of the blog. Included in the debate was Arrington's employment status, with one AOL spokesperson claiming that Arrington was no longer employed by the owners TechCrunch, and another claiming he was. Arrington's creation of the "CrunchFund" comes months after he publicly announced that he had begun to actively invest in start-up companies, which also triggered a lively debate within the industry.
A senior exec from Acer said Microsoft will be the winner in Google's buy of Motorola Mobility as the deal makes Google a direct rival to its phone-making clients. "They work against some of their clients," said Walter Deppeler, president of Acer's operations in Europe, Middle East and Africa. "It was a good gift to Microsoft," he told Reuters. Acer uses operating software from both Microsoft and Google in its smartphones and tablets. Deppeler said Acer would consider the implications of the deal before deciding on future platform choices.
Pay-TV operator Starz Entertainment decided to stop providing its content for streaming on Netflix. Starz content includes exclusive rights to first-run Sony and Walt Disney movies and shows, but account for just 8 percent of U.S. subscribers' viewing, Netflix said. Netflix shares ended the day down 8.6 percent. UBS analyst Brian Fitzgerald said the announcement underscores the long-term concern that rising content costs and increasing competition will continue to weigh on the company's stock.
The New York Times, the Guardian, Der Spiegel, Spain's El Pais and France's Le Monde which collaborated with WikiLeaks condemned the website and its founder Julian Assange for making public thousands of "unredacted State Department cables, which may put sources at risk." In a message posted on its Twitter feed, which Assange is believed personally to control, WikiLeaks confirmed on Friday it had released "251,287 US embassy cables in searchable format." Earlier this week, WikiLeaks issued a lengthy statement accusing a Guardian journalist and a former WikiLeaks spokesman of having "negligently" disclosed top secret passwords to a copy of the cable database which had been floating, unnoticed, around the Internet for months. | | | LATEST NEWS | | United States loses video game jobs to Quebec | | September 02, 2011 04:48 PM ET | | MONTREAL (Reuters) - Outside, the sun is shining, but it is dark in the production room where more than 150 Ubisoft artists, animators and engineers are racing to finish the latest edition of "Assassin's Creed," one of this holiday's hotly anticipated games. | Full Article | | Next Jump to stop emailing Borders customers | | September 02, 2011 01:07 PM ET | | NEW YORK (Reuters) - Marketing engine Next Jump Inc agreed to stop emailing Borders Group Inc's customers while the parties hash out how to move forward in trademark infringement litigation, a lawyer for Borders said on Friday. | Full Article | | China state paper urges Internet rethink to gag foes | | September 02, 2011 01:10 PM ET | | BEIJING (Reuters) - China's Communist Party control is at risk unless the government takes firmer steps to stop Internet opinion being shaped by increasingly organized political foes, a team of party writers warned in a commentary published on Friday. | Full Article | | Microsemi says could walk away from Zarlink bid | | September 02, 2011 04:49 PM ET | | TORONTO (Reuters) - Chipmaker Microsemi Corp has dared takeover target Zarlink Semiconductor to show it can get a bid higher than the C$550 million ($561 million) it has offered, saying it is willing to walk away from the bid. | Full Article | | | BUSINESS NEWS
| | Labor market woes sink Wall Street | | September 02, 2011 04:46 PM ET | | NEW YORK (Reuters) - Stocks tumbled 2 percent on Friday after data showing zero jobs growth in August brought investors face-to-face with the prospect of another recession. | Full Article | | U.S. regulator sues major banks over mortgages | | September 02, 2011 04:52 PM ET | | WASHINGTON/NEW YORK (Reuters) - A U.S. regulator sued a number of major banks on Friday over losses on more than $41 billion in subprime mortgage bonds, which may hamper a broader government mortgage settlement with banks. | Full Article | | Job growth stalls, fuels recession fears | | September 02, 2011 04:33 PM ET | | WASHINGTON (Reuters) - U.S. employment growth ground to a halt in August, reviving recession fears and piling pressure on both President Barack Obama and the Federal Reserve to provide more stimulus to aid the frail economy. | Full Article | | Berkshire revised Wesco docs under SEC pressure | | September 02, 2011 02:45 PM ET | | NEW YORK (Reuters) - Berkshire Hathaway extensively revised documents related to the acquisition of Wesco Financial at the insistence of securities regulators, according to an April letter made public on Friday. | Full Article | | Murdoch and son get big bonuses, James declines | | September 02, 2011 04:36 PM ET | | NEW YORK (Reuters) - News Corp awarded Rupert Murdoch and his son James big compensation increases, though James declined his bonus, citing controversy over a phone hacking scandal at the UK newspaper unit that he oversees. | 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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