 | Good afternoon Bit |  |  | Hewlett-Packard completed its $12 billion buy of British software firm Autonomy on Monday, the centerpiece of a botched strategy shift that cost ex-chief executive Leo Apotheker his job last month.
HP said its 25.50 pounds-per-share cash offer -- representing a 79 percent premium that many HP shareholders found excessive -- had been accepted by investors representing 87.34 percent of the company's shares, well ahead of the 75 percent threshold needed.
The rushed announcements and concerns about the lofty price offered for Autonomy sent HP's stock, and Apotheker's credibility, plunging. But according to analysts, it would have been nearly impossible under British takeover rules for HP to extract itself from the Autonomy deal.
Tim Cook finally gets his chance to stride out from under Steve Jobs' shadow, and he could not have picked a better time or device to mark his unofficial debut as Apple Inc's CEO. The latest generation of the iPhone -- still the smartphone industry's gold standard after four years -- is expected to see the light of day this Tuesday, just in time for the holidays.
FT says Apple's iPhone 5 debut is "the latest sign that Silicon Valley is taking on a fresh mantle of Smartphone Valley."
WSJ MarketBeat editor Mark Gongloff says that there is little pre-event buzz ahead of the iPhone 5 event and believes a factor is that Apple's competitors such as Google and Amazon are catching up.
Rhapsody, which is the largest U.S. digital music service with 800,000 subscribers, said Monday it would take over Napster, which is currently owned by retailer Best Buy Co Inc.
Reuters blogger Felix Salmon looks at a new study that suggests nearly half the content produced on Twitter comes from just 20,000 "elite users." | | | LATEST NEWS | | Microsoft CEO bonus lags on phone, tablet results | | October 03, 2011 05:54 PM ET | | SEATTLE (Reuters) - Microsoft Corp Chief Executive Steve Ballmer failed to clinch his maximum bonus for the second year running due to the company's slow progress in mobile phones and adapting to the tablet computer revolution. | Full Article | | | BUSINESS NEWS
| | Greek gloom shakes global markets, troubles lenders | | October 03, 2011 05:05 PM ET | | ATHENS (Reuters) - Greece's admission that it will miss its fiscal deficit target this year, despite ever deeper cost-cutting measures, provoked a sharp sell-off in stock markets on Monday and raised new doubts over a planned second international bailout. | Full Article | | AMR shares tumble 41 percent on bankruptcy fears | | October 03, 2011 05:17 PM ET | | (Reuters) - Shares of American Airlines parent AMR Corp fell as much as 41 percent on Monday on growing fears the third-largest U.S. airline is headed for bankruptcy, although the carrier said Chapter 11 is "not our goal." | Full Article | | Obama's jobs bill falls to pieces in Congress | | October 03, 2011 06:02 PM ET | | WASHINGTON (Reuters) - President Barack Obama's job-creation package effectively fell to pieces on Monday as a top Republican lawmaker said the House of Representatives will only pass portions of the $447 billion measure. | 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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