| Good afternoon Bit | | | Apple said it sold 4 million iPhone 4S devices in the new smartphone's first three days on the market, setting up a strong December quarter for the world's largest technology company. Helped by availability in more countries and on more telecommunications carrier networks, the iPhone 4S, which went on sale last Friday, managed to outshine the iPhone 4, which sold 1.7 million over its first three days. Unveiled just a day before Steve Jobs died, it was initially dubbed a disappointment, partly because it looked identical to its predecessor. But anticipation of its "Siri" voice software helped it set an online record in pre-orders on October 7. Shares of RIM dropped 6.55 percent in the U.S., closing at $22.40, after the company sought to appease disgruntled BlackBerry customers by offering free apps and technical support to make up for last week's global smartphone outage. RIM said it will offer premium apps worth more than $100 to customers and a month of technical support for businesses free of charge, hoping to stem fresh defections from the BlackBerry, whose market share was already shrinking before the incident. RIM Co-CEO Jim Balsillie declined to estimate how much the offer would cost RIM and said he was unable to say whether RIM might have to revise its earnings forecast for the current quarter, which ends in late November. Samsung said that it had filed for sales bans on Apple's iPhone 4S in Australia and Japan, escalating a legal battle with its arch-rival and biggest client. The move came after Samsung filed preliminary injunction motions against the latest iPhone in France and Italy less than a day after the device was unveiled, claiming the product infringed its patents. Samsung's latest salvo came after the South Korean electronics giant suffered a series of setbacks in its ongoing legal battles with Apple. The flash sales business has lost some of its flash, forcing online luxury clothing merchants to radically change their business models. Businesses such as Gilt Groupe, Ideeli and Rue La La burst onto the fashion scene during the recession to try to move a mountain of unsold clothes. Now there is less luxury inventory and flash sales sites are bigger. That has forced companies to pay more or find other ways to get their products. "Bad evoloution" in the flash sales business is also to blame for the gloomy outlook, said Mike Steib, CEO of vente-privee USA, a joint venture between Vente Privee and American Express, which is launching a flash sales site in the U.S.. "People are worried about the luxury buyer going down market." Amazon.com will publish 122 books and e-books this fall in an array of genres, bypassing the traditional publisher and making deals with authors, The New York Times's David Streitfeld wrote. The acceleration of the retailer's fledging publishing program will place Amazon squarely in competition with the New York houses that are also its most prominent suppliers, Streitfeld added. | | LATEST NEWS | IBM meets Q3 expectations, raises outlook | October 17, 2011 04:35 PM ET | (Reuters) - IBM's third-quarter revenue met expectations as corporate spending on information technology held up in the face of economic worries, and the company bumped up its 2011 earnings outlook. | Full Article | Olympus dives 24 percent, hit by payments reports | October 17, 2011 06:37 AM ET | TOKYO (Reuters) - Shares in Olympus Corp plunged by a quarter on Monday after media reports quoted its ousted chief executive of accusing the board of firing him for probing allegations of improper payments related to acquisitions. | Full Article | HTC loses early U.S. decision vs Apple | October 17, 2011 12:38 PM ET | (Reuters) - Taiwan's HTC Corp lost a patent infringement complaint filed against Apple Inc in a preliminary decision at the U.S. International Trade Commission on Monday. | Full Article | Wireless initiative stalls new billing rules | October 17, 2011 01:14 PM ET | WASHINGTON (Reuters) - The U.S. wireless industry is rolling out more consumer-friendly billing practices, fending off a plan by communications regulators to impose new rules against unexpected charges. | Full Article | | | BUSINESS NEWS
| Germany's caution on debt plan sinks Wall Street | October 17, 2011 04:29 PM ET | NEW YORK (Reuters) - Stocks suffered their worst loss in two weeks on Monday after comments from Germany's finance minister caused investors to fear Europe's solution to its debt crisis may not come fast enough. | Full Article | Industrial output up, NY manufacturing contracts | October 17, 2011 03:49 PM ET | NEW YORK (Reuters) - Industrial production rose in September and a gauge of manufacturing in New York State hinted at stabilization in October, suggesting the factory sector will keep supporting the economic recovery. | Full Article | Berlin tempers summit hopes, banks under pressure | October 17, 2011 03:39 PM ET | DUESSELDORF, Germany (Reuters) - Germany said on Monday that a summit of EU leaders next Sunday would not produce a miracle cure for the euro zone's sovereign debt crisis, a warning that pushed down markets after a rise in the past week on expectations of a breakthrough. | 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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