Technology Report: Facebook to buy Instagram for $1 billion

Click to View in Browser 04/9/2012 Facebook to buy Instagram for $1 billion SAN FRANCISCO (Reuters) - Facebook will pay $1 billion in cash and stock for Instagram, a 2-year-old photo-sharing application developer, in its largest-ever acquisition just months before the No. 1 social media website is expected to go public. Sony to ax 10,000 jobs in turnaround bid: Nikkei TOKYO (Reuters) - Japan's Sony Corp is cutting 10,000 jobs, about 6 percent of its global workforce, the Nikkei newspaper reported on Monday, as new CEO Kazuo Hirai looks to steer the electronics and entertainment giant back to profit after four years in the red. Microsoft trumps Amazon, others for AOL patents (Reuters) - AOL Inc's months-long auction to sell the majority of its patent trove attracted interest from e-commerce giants Amazon and eBay, which have been largely absent from the recent patent wars. Court revives Rosetta Stone suit vs Google (Reuters) - A federal appeals court on Monday revived the bulk of language-software maker Rosetta Stone Inc's trademark infringement lawsuit against Google Inc. Global business groups press India on technology plan WASHINGTON (Reuters) - Global business groups urged Indian Prime Minister Manmohan Singh on Monday to rescind new government rules for technology purchases that they said unfairly discriminate against foreign firms and potentially violate World Trade Organization rules. Splunk sees IPO priced at $8-$10 per share (Reuters) - Splunk Inc, which makes software that collects and indexes data, said it expects its initial public offering of 13.5 million shares to be priced between $8 and $10 apiece. "Anonymous" says plans more attacks against China sites SHANGHAI (Reuters) - The activist hacker group Anonymous plans to launch further attacks on Chinese government websites in a bid to uncover corruption and lobby for human rights, a member of the group said on Monday. Marine who criticized Obama on Facebook should be dismissed: panel SAN DIEGO (Reuters) - A Marine who posted on Facebook that he would not follow orders from President Barack Obama should be dismissed from the military with a less-than-honorable discharge, a Marine Corps review board ruled. New app transfers money with the tap of a phone TORONTO (Reuters) - Splitting the bill at a restaurant or settling road trip expenses can be as simple as tapping two phones together to transfer the funds. Thousands of AT&T workers to stay on job as talks continue NEW YORK (Reuters) - More than 40,000 employees at AT&T Inc will keep working under the terms of an expired labor contract while their union continues negotiations with the telephone company, averting a potentially costly strike for now. Related Video Hydroponics bring low-cost solution to high food prices 'Rapunzel number' untangles secret of ponytails Mediafile Lisa Richwine Three in a row: 'Hunger Games' leads box office Lisa Richwine More room at box office table for 'Hunger Games' A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. 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 - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend