 | Good afternoon Bit |  |  | Sony warned of a fourth straight year of losses, with its television unit alone set to lose $2.2 billion on tumbling demand and a surging yen, sinking its U.S. shares and raising concerns about the viability of its high-profile TV business. Investors had expected Sony to reduce its profit forecast, but not flag a swing to massive losses.
The maker of Bravia TVs, Vaio computers and PlayStation game consoles cut its sales forecast for TVs, cameras and DVD players and said it may report a 90 billion yen ($1.1 billion) net loss for the current financial year, scrapping its earlier net profit estimate of 60 billion yen.Sony's U.S. listed shares closed down nearly 6 percent.
A small Spanish tablet maker won a patent infringement battle with Apple in a rare victory against the tech giant in its global defense of markets for its iPads, a court document showed. Spain's Nuevas Tecnologias y Energias Catala (NT-K) successfully appealed a 2010 injunction from a local court to ban the import of its tablet computer -- manufactured in China -- to Spain. NT-K, from the Valencia region of Spain, is demanding compensation from Apple for losses during the ban of its product and is suing the U.S. giant for alleged anticompetitive behavior.
WikiLeaks founder Julian Assange should be sent to Sweden from Britain to face questioning over alleged sex crimes, the British High Court ruled, rejecting his appeal against extradition. Assange now has two weeks to consider whether to make a final appeal to the Supreme Court. However, any recourse to Britain's highest judicial body can only be made on a point of law considered by judges to be of general public interest, so permission to appeal must be obtained first from the High Court.
Google launched and then pulled a much-anticipated Gmail app for Apple iOS devices via Apple's App Store. Initially launched to make access to Google's email service faster and easier, the app was removed after it quickly became apparent that it wasn't working, causing "users to see an error message when first opening the app," Google said in a blog posting. No estimate was given for when the Gmail app would return to the App Store.
Yahoo unveiled a handful of products to try and bolster its mobile and social networking offerings, as the struggling Web company continues to evaluate its future. Among the new products unveiled were a multimedia newsstand for tablets dubbed Livestand, a weather application for Android mobile devices, and a new version of IntoNow, a social application related to television, for the iPad. Yahoo has long endured criticism for lacking a more comprehensive strategy for engaging Web users who are drifting away from PCs and spending more time on tablets and smartphones.
AOL's third-quarter revenue dropped 6 percent because of its dwindling dial-up Internet access business though it beat analysts expectations and its stock rose more than 11 percent. "Investors have gotten used to disappointment from AOL especially in the forward outlook," said Benchmark analyst Clayton Moran. "Mainly there are no negative surprises in this quarter... and the forward outlook seems to be more stable." Prior to the rally, AOL shares were down more than 40 percent year to date.
Mobile gaming firm Rovio said its hit game Angry Birds had reached a record 500 million downloads in less than two years since its launch. "It's more than any game ever before," Rovio's marketing chief Peter Vesterbacka told a conference in Helsinki. Unlike most mobile-game crazes, Angry Birds -- in which players use a slingshot to attack pigs who steal the birds' eggs -- has stayed at the top of the charts since it was launched for Apple's iPhone on Dec 11, 2009. | | | LATEST NEWS | | Exclusive: Groupon IPO may be $1-$2 above range | | November 02, 2011 04:43 PM ET | | (Reuters) - Groupon Inc could price shares in its initial public offering $1 or $2 above the current range of $16 to $18 per share, according to two investors who said they spoke with the lead underwriters on Wednesday. | Full Article | | Yahoo unveils tablet, smartphone apps | | November 02, 2011 04:13 PM ET | | SUNNYVALE, California (Reuters) - Yahoo Inc unveiled a handful of products to try and bolster its mobile and social networking offerings, as the struggling Web company continues to evaluate its future. | Full Article | | Small chipmakers see macro economy hurting Q4 | | November 02, 2011 02:04 PM ET | | (Reuters) - Smaller chipmakers warned of tough times ahead for the sector as macroeconomic uncertainties squeeze customer spending, echoing sentiments expressed by larger rivals such as Texas Instruments last month. | Full Article | | UK says governments' Internet power grab will fail | | November 02, 2011 04:29 PM ET | | LONDON (Reuters) - Attempts by China, Russia and others to gain more control over the Internet are doomed to failure, Britain said on Wednesday, after hosting a major conference on cyberspace that it said sent a clear signal to authoritarian governments. | Full Article | | THQ widens losses, sales beat Street | | November 02, 2011 04:22 PM ET | | (Reuters) - Video game maker THQ Inc posted a bigger loss than a year earlier but its quarterly sales beat Wall Street expectations as its Warhammer shooter title performed well in September. | Full Article | | | BUSINESS NEWS
| | Wall Street on edge over Greece but Bernanke soothes | | November 02, 2011 04:31 PM ET | | NEW YORK (Reuters) - Stocks rebounded from two days of sharp losses on Wednesday after the Federal Reserve said it is prepared to do more for the economy if conditions warrant, helping to stanch the panicky reaction to Europe's debt crisis. | Full Article | | Fed lowers GDP forecast, holds policy steady | | November 02, 2011 04:23 PM ET | | WASHINGTON (Reuters) - The Federal Reserve on Wednesday slashed its forecast for economic growth, raised projections for unemployment and suggested Europe's debt crisis posed big downside risks to the U.S. economy. | Full Article | | Regulators pushed MF Global on risky bets months ago | | November 02, 2011 04:48 PM ET | | (Reuters) - U.S. regulators started raising concerns about MF Global's European sovereign debt exposure as early as June, according to a source familiar with the matter, four months before the company's collapse into bankruptcy. | Full Article | | France, Germany demand quick Greek decision on euro | | November 02, 2011 04:34 PM ET | | CANNES, France/ATHENS (Reuters) - Germany and France pressed Greece on Wednesday to make up its mind fast whether it wants to stay in the euro zone after a shock decision to call a referendum on an EU/IMF bailout stirred panic on global markets. | Full Article | | News Corp posts higher adjusted profit | | November 02, 2011 04:12 PM ET | | (Reuters) - Rupert Murdoch's News Corp on Wednesday posted a higher adjusted quarterly profit driven by carriage fees at its cable and Fox broadcast networks even as the company struggles with speculation about future leadership at the family-controlled media conglomerate. | 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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