 | Good afternoon Bit |  |  | Shares of daily deals site Groupon rose more than 50 percent in their stock market debut, but at least some of the early trading exuberance may have come from limiting the fraction of the company that was sold. The shares rose as high as $31.14, or 55.7 percent above the IPO price, in early trading on the Nasdaq, at one point pushing the market value of the company up to $19.9 billion. The shares later eased back, closing at $26.11. Despite the early success, there are still lingering questions about Groupon's business model and about competition from better-funded rivals such as Amazon.com and Google.
Yahoo has signed confidentiality agreements with several parties interested in buying all or part of the company, according to people familiar with the matter. The Internet pioneer said potential buyers had to sign an agreement by Friday to be allowed a close look at Yahoo's finances. But the Friday deadline could be extended into next week to provide more time for other firms to sign on, the sources said. Some private equity firms have balked at signing Yahoo's nondisclosure agreement because of restrictions that would prevent them from forming consortiums, sources told Reuters last week.
EU regulators are investigating whether Samsung and Apple may have breached EU antitrust laws with patent infringement claims in their global legal battle over the lucrative smartphone and tablet market. "The (European) Commission has indeed sent requests for information to Apple and Samsung concerning the enforcement of 'standards-essential' patents in the mobile telephony sector," the European Commission said in a statement. Standards-essential patents means they have been incorporated in internationally accepted technology standards, which in the case of Samsung and Apple, means 3G and UMTS technology.
China dismissed a U.S. report on online spying as "irresponsible," rejecting the charge that China uses cyber espionage to steal lucrative U.S. trade and technology secrets. "Online attacks are notable for spanning national borders and being anonymous. Identifying the attackers without carrying out a comprehensive investigation and making inferences about the attackers is both unprofessional and irresponsible," Hong told a daily news briefing in answer to a question about the report.
Japan's Olympus replaced its auditor in 2009 after a disagreement over how to account for several acquisitions, but it decided not to reveal the dispute to investors, an internal document shows. In May 2009, Tsuyoshi Kikukawa, the then president of the camera-maker and medical equipment firm, announced that the contract for its then auditor, KPMG, had ended and that another global accounting firm, Ernst & Young, would take over. Kikukawa made no mention of any row with KPMG, although Japanese disclosure rules require companies to notify investors of "any matters concerning the opinions" of an outgoing auditor. | | | Police GPS tracking case to be heard by Supreme Court | | November 04, 2011 02:35 PM ET | | WASHINGTON (Reuters) - The Supreme Court for the first time will hear arguments on Tuesday on whether police need a warrant to track a suspect's vehicle with a GPS device, another clash between new surveillance technology and basic privacy rights. | Full Article | | | BUSINESS NEWS
| | Wall Street closes lower ahead of Greek vote | | November 04, 2011 04:05 PM ET | | NEW YORK (Reuters) - Stocks fell on Friday, ending four weeks of back-to-back gains, as political instability resurfaced in Europe and investors braced for a confidence vote in Greece after U.S. markets close. | Full Article | | No new euro zone money for debt crisis at G20 | | November 04, 2011 03:52 PM ET | | CANNES, France (Reuters) - The euro zone won verbal support but no new money at a G20 summit on Friday for its tortured efforts to overcome a sovereign debt crisis, while Italy was effectively placed under IMF supervision. | Full Article | | Jobs report hints at some improvement | | November 04, 2011 01:53 PM ET | | WASHINGTON (Reuters) - Hiring slowed in October but the unemployment rate hit a six-month low and job gains in the prior two months were stronger than previously thought, pointing to some improvement in the still-weak labor market. | Full Article | | MF Global CEO Jon Corzine quits under fire | | November 04, 2011 03:17 PM ET | | (Reuters) - Jon Corzine, one of Wall Street's best-known stars, stepped down as MF Global Holdings Ltd's chairman and chief executive after his bets on European debt drove the futures brokerage into bankruptcy. | 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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