 | Good afternoon Bit |  |  | Verizon Wireless plans to pay $3.6 billion for wireless airwaves from a venture of cable companies Comcast, Time Warner Cable and Bright House Networks. Comcast said that the deal represented a 64 percent premium over the $2.2 billion price the cable consortium paid in 2006 for the wireless spectrum being sold to Verizon Wireless.
U.S. Representative Edward Markey asked the Federal Trade Commission to investigate whether software maker Carrier IQ violated millions of mobile phone users' privacy rights. Carrier IQ makes software that companies including AT&T and Sprint install in mobile devices. It runs in the background, transmitting data that the software maker says its customer companies use to better understand their devices and networks.
Zynga, which plans to go public in two weeks, slashed its value by more than 30 percent to $9 billion, hoping to avoid the fate of other recent Internet IPOs that have disappointed after stock market debuts. Just two weeks ago a filing listed the Facebook game maker's value, based on a third party assessment, at $14.05 billion. CEO Mark Pincus, a serial entrepreneur before he founded Zynga, will hold a class of shares with 70 times more voting power than the common stock that will be sold in the offering.
RIM booked a huge charge to write down inventories of its underwhelming PlayBook tablet, capping a dismal year with a steep profit warning that sent its shares tumbling. The company said it now no longer expects to meet its full-year earnings forecast, due to weak sales, the PlayBook writedown and a charge related to a damaging service outage in October. RIM's U.S. traded shares ended the day down almost 10 percent.
Google won approval from U.S. antitrust regulators to buy online advertising company Admeld without any conditions, the Justice Department said.
Britain's consumer watchdog said it is investigating Groupon UK after receiving complaints about how the daily-deal company was conducting its business. The Office of Fair Trading said it had been investigating Groupon UK, which offers daily deals on products from hotel stays to calendars, in secret since July.
Hard disk drive maker Western Digital, the worst hit by the Thai floods, could recover the market share it has lost to smaller rival Seagate Technology faster-than-anticipated, analysts said. Western Digital said it partly resumed production ahead of schedule and raised its outlook for the December quarter, prompting at least three brokerages to raise their price targets on the stock. | | | LATEST NEWS | | Publishers warm to e-books on their own terms | | December 02, 2011 09:57 AM ET | | PARIS (Reuters) - Book publishers have survived the first stage of a digital revolution in better shape than the music industry and are now embracing the shift to e-books in their search for new revenue streams and lower costs. | Full Article | | Old media executives too busy, private for Twitter | | December 02, 2011 02:13 PM ET | | LONDON (Reuters) - Twitter gives an instant snapshot of the buzz around television shows, computer game launches and even new ads, but many media executives are simply too busy to tweet or engage with the microblogging service very much themselves. | Full Article | | Ubisoft dances through holiday sales season | | December 02, 2011 02:10 PM ET | | PARIS (Reuters) - French video games maker Ubisoft said it was well-positioned for the Christmas season after Thanksgiving sales proved better than last year, helped by a dance game featuring pop group the Black Eyed Peas. | Full Article | | | BUSINESS NEWS
| | U.S. jobless rate drops to 2-1/2 year low | | December 02, 2011 01:59 PM ET | | WASHINGTON (Reuters) - The U.S. unemployment rate tumbled to a 2-1/2 year low in November, even though the pace of hiring remained too slow to suggest a significant acceleration in the labor market recovery. | Full Article | | Zynga seeks lower IPO value in tough market | | December 02, 2011 03:08 PM ET | | (Reuters)- Zynga Inc is seeking a more modest valuation than Wall Street expected for its initial public offering, hoping to attract investors after a series of Internet stocks fell below their IPO price in recent weeks. | Full Article | | AA woes menace Dallas, Miami, Chicago airports: Fitch | | December 02, 2011 02:52 PM ET | | WASHINGTON (Reuters) - The finances of three major U.S. airports could weaken from the bankruptcy filings of American Airlines and its parent company, Fitch Ratings said on Friday as it revised rating outlooks lower on some of their debt from negative to stable. | Full Article | | Senate panel may subpoena MF Global's Corzine | | December 02, 2011 04:44 PM ET | | WASHINGTON (Reuters) - The Senate Agriculture Committee will meet next week to vote on whether to subpoena former MF Global CEO Jon Corzine, if he and other company officials do not agree to appear before the panel on December 13. | 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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