 | Good afternoon Bit |  |  | EU regulators investigating Apple and Samsung over their patents dispute are worried intellectual property rights may be unfairly used by some firms against their rivals, the EU antitrust chief said. "We need to look at this because IP rights can be used as a distortion of competition but we will need to look at the answers," EU Competition Commissioner Joaquin Almunia told reporters. "Apple and Samsung is only one case where IP rights can be used as an instrument to restrict competition," he said.
Netflix's shares dropped as much as 7 percent after it warned of a loss for 2012, a move that prompted several Wall Street analysts to cut their price targets for the online video and DVD rental company. Netlfix said that it had recently lost a "significant" number of customers, who objected to Netflix's decisions to raise its prices and split up its streaming and DVD business -- an idea it later dropped. "If we do not reverse the negative consumer sentiment toward our brand, and if we continue to experience significant customer cancellations and a decline in subscriber additions, our results of operations including our cash flow will be adversely impacted," Netflix said. Netflix shares ended the day down 5.4 percent at $70.45.
Groupon stock slumped on concern about increased competition, leaving shares of the largest daily deal company close to their $20 initial public offering price. LivingSocial, Groupon's closest rival, announced plans on Monday to offer 20 deals with national merchants on the crucial Black Friday shopping period. Groupon shares ended the trading day down nearly 15 percent.
Samsung Electronics, the world's top TV maker, is in last-stage talks with Google to roll out its Google TVs, the head of Samsung's TV division told reporters. Samsung in January displayed a new Google TV-enabled Blu-ray player and companion box at the Consumer Electronics Show, but did not commercialize the offerings. The company said it plans to unveil its Google TV at an event next year without elaborating on the schedule. | | | LATEST NEWS | | HP can keep secret report on Hurd departure | | November 22, 2011 03:35 PM ET | | (Reuters) - Hewlett-Packard Co does not have to turn over to a shareholder an internal report that led to the departure of former chief executive Mark Hurd, Delaware's Supreme Court ruled. | Full Article | | Olympus ex-CEO Woodford to attend board meeting | | November 22, 2011 10:30 AM ET | | TOKYO/LONDON (Reuters) - The sacked chief executive of Japan's disgraced Olympus Corp says he has accepted an invitation to attend the company's board meeting this week, which could be a hopeful sign for investors who want him to return and lead a clean-up of the firm. | Full Article | | Epic fail for Qantas Twitter competition | | November 22, 2011 08:57 AM ET | | CANBERRA (Reuters) - Australia's Qantas Airlines has been left red-faced after an ill-timed public relations campaign and Twitter competition backfired, drawing thousands of angry responses. | Full Article | | | BUSINESS NEWS
| | Third-quarter growth cut on weak inventories | | November 22, 2011 03:17 PM ET | | WASHINGTON (Reuters) - The U.S. economy grew more slowly than previously estimated in the third quarter but a drawing down of stocks held by companies and firm consumer spending suggested output would pick up in late 2011. | 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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