Reuters Technology Report: October 6, 2015

Click to View in Browser Tuesday, October 6, 2015 Europe-U.S. data transfer deal used by thousands of firms is ruled invalid BRUSSELS (Reuters) - The EU's highest court struck down a deal that allows thousands of companies to easily transfer personal data from Europe to the United States, in a landmark ruling on Tuesday that follows revelations of mass U.S. government snooping. Adobe forecasts 2016 profit, revenue below estimates (Reuters) - Adobe Systems Inc forecast 2016 revenue and profit below estimates, sending its shares down 8 percent in extended trading. Big U.S. firms hold $2.1 trillion overseas to avoid taxes -study WASHINGTON (Reuters) - The 500 largest American companies hold more than $2.1 trillion in accumulated profits offshore to avoid U.S. taxes and would collectively owe an estimated $620 billion in U.S. taxes if they repatriated the funds, according to a study released on Tuesday. Schrems: the law student who brought down a transatlantic data pact BRUSSELS/FRANKFURT (Reuters) - From Vienna cafes to the European Union's highest court, an Austrian law student's two-year battle against Facebook and mass U.S. surveillance culminated on Tuesday in a landmark ruling that has rippled across the business world. Microsoft unveils first laptop, updated devices using Windows 10 (Reuters) - Microsoft Corp unveiled on Tuesday its first laptop, a line of Lumia smartphones, a new Surface Pro tablet and an updated version of its wearable fitness tracker, Microsoft Band, all running on Windows 10, its latest operating system. Swiss court upholds ruling against Swisscom, reduces penalty ZURICH (Reuters) - A Swiss court has upheld a 2009 ruling against Swisscom by Switzerland's competition commission for anti-competitive behavior in its broadband internet business, but has reduced the size of the fine. Alcatel's strategic undersea cables unit to be swallowed by Nokia PARIS (Reuters) - Alcatel-Lucent said on Tuesday it will not sell its undersea cables unit, meaning the strategic business which underpins the global Internet will be taken by Nokia once it completes its acquisition of the Franco-American group. Apple 'own worst enemy,' U.S. antitrust monitor says in report NEW YORK (Reuters) - Apple Inc's antitrust compliance program has improved, but the company continues to impede a court-appointed monitor overseeing the program, acting as "its own worst enemy," the monitor told a federal judge in a report made public on Tuesday. Twitter rolls out feature that showcases day's best tweets SAN FRANCISCO (Reuters) - Twitter Inc rolled out its much-anticipated "Project Lightning" on Tuesday, a feature that shows users the site's best tweets and content as curated by a Twitter team. Etsy doubles down on manufacturing as it faces off with Amazon SAN FRANCISCO (Reuters) - Etsy Inc, the online store that made its name selling handmade crafts, is trying to stop merchants from defecting as giant rival Amazon Inc prepares to attack it on its own ground with a new site for artisanal items called Handmade. Related Video Lexus builds origami-inspired cardboard car Toyota shows off semi-autonomous car Mediafile How about Hightail-ing it? On Twitter, dubious health claims from e-cigarette bots A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today A quick-fix on the day's news delivered when you want it. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2015 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook