Sunday, September 21, 2014 03:14
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Alibaba surges 38 percent on massive demand in market debut
By Liana B. Baker, Jessica Toonkel and Ryan Vlastelica NEW YORK (Reuters) - Alibaba Group Holding Ltd's shares soared 38 percent in their first day of trading on Friday as investors jumped at the chance for a piece of what is likely to rank as the largest IPO in history, in a massive bet on China's burgeoning middle class. It was an auspicious debut for the Chinese e-commerce company, which was founded by Jack Ma in his apartment in 1999 and now accounts for 80 percent of online sales in China...
Exclusive: Hyundai directors kept in dark on size of $10 billion land bid - sources
By Hyunjoo Jin SEOUL (Reuters) - Hyundai Motor and two listed affiliates did not seek board clearance for the size of their record $10 billion bid for a plot of land in Seoul, more than triple its appraised value, four board members of the companies told Reuters. Thursday's winning bid for the land sent shares in Hyundai Motor, Kia Motors and Hyundai Mobis plunging, wiping out $8 billion in shareholder value, and sparked howls of protest from investors, rekindling worries about corporate governance at South Korea's conglomerates, or chaebol...
When music stops for Oracle CEO dance, Catz may grab Ellison's chair : analysts
By Jeffrey Dastin and Sam Adams NEW YORK (Reuters) - If Larry Ellison sailed off on his yacht for good tomorrow, who would really run Oracle Corp ? Reuters asked a cast of Wall Streets analysts, and the verdict is dealmaker and finance guru Safra Catz. The question is on investors' minds after Ellison, 70, promoted both Catz and sales leader Mark Hurd to the CEO position on Thursday, while taking on the role of executive chairman and chief technology officer himself...
Exclusive: France's Iliad sets mid-Oct deadline for T-Mobile US bid - sources
By Sophie Sassard and Arno Schuetze LONDON/FRANKFURT (Reuters) - French low-cost telecom operator Iliad has set a mid-October deadline to decide whether to improve its bid for T-Mobile US or walk away as it faces resistance from seller Deutsche Telekom, several people familiar with the situation said. Deutsche Telekom, which owns 66 percent of the fourth-largest U.S. carrier, has doubts that Iliad will be able to improve the U...
German defense industry threatens to move production abroad
FRANKFURT (Reuters) - Germany's defense industry lobby has warned that companies were looking into shifting production abroad in response to the country's restrictive arms export policy. "All large defense contractors in Germany are assessing whether they can stay in the country in the long run," Armin Papperger, the chief executive of Rheinmetall and head the German defense industry association, was quoted as saying by newspaper Sueddeutsche Zeitung on Saturday...
U.S. court voids RadioShack class-action settlement over card receipts
By Jonathan Stempel (Reuters) - A federal appeals court on Friday voided RadioShack Corp's class-action settlement with customers who objected to its putting credit and debit card expiration dates on receipts, saying the benefits of the accord appeared too small relative to the proposed legal fees. The 7th U.S. Circuit Court of Appeals in Chicago said there was no showing that the proposed $1 million fee was reasonable for a settlement calling for roughly 83,000 class members to each receive a $10 voucher redeemable at RadioShack stores...
U.S. judge orders discovery to begin in some GM ignition switch cases
By Jessica Dye (Reuters) - A federal judge in Manhattan on Friday ordered discovery to begin for some cases filed against General Motors Co in connection with its recall of millions of cars for a faulty ignition switch. U.S. District Judge Jesse Furman in the Southern District of New York said plaintiffs could begin requesting documents from the company related to accidents, injuries and lost vehicle value linked to the switch that allegedly occurred after GM emerged from bankruptcy in 2009...
Air France pilots extend strike until Sept. 26
By James Regan and Gregory Blachier PARIS (Reuters) - Air France pilots have voted to extend their week-long strike over cost cuts and plans for the company's Transavia unit by a further four days until Sept. 26, the head of the SNPL union said on Saturday. More than four-fifths of the 74 percent of pilots who took part in the ballot agreed to pursue the industrial action beyond the current deadline of Monday, said Jean-Louis Barber, head of the Air France section of the SNPL...
The history of the Predator, the drone that changed the world (Q&A)
Longtime Pentagon correspondent Richard Whittle investigated the unmanned aircraft that gave the military the ability to attack targets from the other side of the world. He talked to CNET about the drone.>
Touch, hear, pal around in a virtual world: Oculus execs discuss the future
At firm's first confab for developers who'll make games to run on its headset, execs discuss, among other things, the trickiness of the controllers that'll let players pick up and move objects.>
Ex-NBA star arrested for allegedly stealing from Apple store
Rex Chapman, formerly a player and executive in the NBA, is accused of stealing $14,000 worth of merchandise from the Apple store in Scottsdale, Ariz.>
Oculus closer to launch with new virtual reality headset
"Crescent Bay" prototype promises a better display and new sensors to track player's movements while using the device.>
Man says he stood 44 hours in iPhone 6 line to win back wife
A Polish-born man in the UK says he split with his wife recently and getting an iPhone 6 might provide a path to getting her back.>
Don't panic: Those iPhone 6 carrier trade-in deals are still available
iPhone fans, you can still take advantage of carriers' hot deals, but see the new devices in person to ensure you're getting the right one, says CNET's Marguerite Reardon in this edition of Ask Maggie.>
Nvidia sinks moon landing hoax using virtual light
Using its new top-shelf graphics processing unit, Nvidia tackles one of the most persistent conspiracy theories in American history: the veracity of the 1969 to 1972 Apollo moon landings.>
The KICK App will help you talk like a Football Expert
The beautiful game has long enjoyed a loyal fan base across the clubs of Europe. From Manchester to Milan, fans live through the highs and lows of their beloved team. Now, a recent study commissioned -
Crave Ep. 175: 3D Pocketcopter crowdfunding soars despite no working prototype
A small, lightweight copter is taking off on Indiegogo based on the idea and computer generated renderings even though it hasn't actually been produced.>
'True' Apple fan weeps after being removed from iPhone 6 line
In Sydney, a student complains that many people in front of her were letting friends cut in line. She feared she wouldn't get a phone. But then she allegedly caused an obstruction.>
Renewed talk of Yahoo as acquisition target after Alibaba IPO
With Alibaba's IPO making big winners of the Chinese e-commerce giant and Japan-based stakeholder SoftBank, what are the odds that one of them buys Yahoo?>
Measuring Apple Pay's success: Give it years, not months
Apple Pay could realistically be a huge business, but adoption will depend on sales of iPhone 6 and 6 Plus, consumer willingness to change and retailer IT infrastructure.>
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