Technology Report: Facebook grabs Gowalla team, but not technology

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	12/5/2011
Good afternoon Bit Facebook has hired the co-founders of Gowalla, one of the pioneering companies that developed the concept of "checking in" at real-world locations with mobile phones. "While Facebook isn't acquiring the Gowalla service or technology, we're sure that the inspiration behind Gowalla will make its way into Facebook over time," Facebook says. SAP's $3.4 billion takeover of SuccessFactors will help it keep up with peers in the frenzied race for cloud-computing business, even if the price it paid is very high at first glance, analysts say. Shares in Samsung Electronics rose more than 2 percent on Monday after Apple's bid to halt U.S. sales of its Galaxy line of products was rejected, easing concern of slowing growth in its telecom business, which generates revenue of $13 billion per quarter. Online gaming firm Nexon Co fixed the price for its $1.2 billion initial public offering in Tokyo at the mid-point of a pre-set range, following U.S.-based rival Zynga in settling for a more conservative valuation amid tough stock market conditions. Comcast Corp will start selling Verizon Wireless products in four markets early next year. LATEST NEWS Facebook grabs Gowalla team, but not technology December 05, 2011 01:09 PM ET Dec 5 (Reuters) - Facebook has hired the co-founders of Gowalla, one of the pioneering companies that developed the concept of "checking in" at real-world locations with mobile phones. | Full Article SAP splashes out in cloud-computing frenzy December 05, 2011 02:27 PM ET FRANKFURT/NEW YORK (Reuters) - SAP AG's $3.4 billion takeover of SuccessFactors will help it keep up with peers in the frenzied race for cloud-computing business, even if the price paid is very high at first glance, analysts said on Monday. | Full Article Samsung up after Apple's bid to ban Galaxy rejected December 05, 2011 10:02 AM ET SEOUL (Reuters) - Shares in Samsung Electronics Co Ltd rose more than 2 percent on Monday after Apple Inc's bid to halt U.S. sales of its Galaxy line of products was rejected, easing concern of slowing growth in its telecom business, which generates revenue of $13 billion per quarter. | Full Article Zynga rival Nexon's Tokyo IPO set at $1.2 billion December 05, 2011 04:57 AM ET TOKYO (Reuters) - Online gaming firm Nexon Co fixed the price for its $1.2 billion initial public offering on Monday at the mid-point of a pre-set range, following U.S.-based rival Zynga in settling for a more conservative valuation amid tough stock market conditions. | Full Article EBay shares gain on holiday sales optimism December 05, 2011 11:51 AM ET (Reuters) - EBay Inc Inc shares rose more than 4 percent on Monday after an analyst upgraded the e-commerce company, citing strong holiday sales. | Full Article BUSINESS NEWS Franco-German budget plan demands EU treaty change December 05, 2011 02:32 PM ET PARIS (Reuters) - The leaders of France and Germany agreed a master plan on Monday for imposing budget discipline across the euro zone, saying the EU's basic treaty will need to be changed in the search for a sweeping solution to its debt crisis. | Full Article Fed must act now to boost economy, Evans says December 05, 2011 01:48 PM ET MUNCIE, Indiana (Reuters) - The Federal Reserve must take immediate action to inject new life into a moribund U.S. recovery or risk letting the nation settle into a permanently lower growth path, a top Fed official said on Monday. | Full Article Exclusive: Many Americans already done with holiday shopping December 05, 2011 02:24 PM ET (Reuters) - More than a third of U.S. shoppers are already done with most of their holiday shopping, a survey showed on Monday, signaling that retailers need to offer bigger incentives to win sales in the few weeks before Christmas. | Full Article U.S. Postal Service seeks to end next-day mail December 05, 2011 02:21 PM ET WASHINGTON (Reuters) - The cash-strapped U.S. Postal Service on Monday moved forward with plans to end next-day delivery of letters, postcards and other First Class mail. | Full Article Rajaratnam begins 11-year insider trading sentence December 05, 2011 01:49 PM ET (Reuters) - Hedge fund multimillionaire Raj Rajaratnam began serving his 11-year prison sentence on Monday - the longest on record for insider trading - at a former military base near a small, leafy Massachusetts town. | Full Article U.S. TOP NEWS Analysis: "Cold War" with Iran heats up across Mideast Putin's party clings to reduced majority in Russia U.S. official says Iran becoming a pariah state FAA chief on leave after drunken driving arrest Protester shaves year-old beard with new Belgian government RELATED VIDEO SAP taps SuccessFactors for cloud boom 3D mirror gives shoppers a new angle Chemical-free technology turns sea water into drinking water A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. 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