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Europe debates how far to push 'right to be forgotten'
News ImageBy Leila Abboud and Julia Fioretti PARIS/BRUSSELS (Reuters) - European regulators have not yet decided whether to try to force search engines such as Google and Microsoft's Bing to scrub results globally when people invoke their "right to be forgotten" in the region. Isabelle Falque-Pierrotin - who heads France's privacy watchdog and the WP29 group of EU national data protection authorities - said in an interview on Friday that no consensus had yet been reached on what she called a "complicated issue". The European Union's top court ruled in May that search engines must take down certain results shown under a search of a person's name if the information was "inadequate, irrelevant or no longer relevant". Although the "right to be forgotten" existed as a concept in European law, the ruling marked the first time companies like Google have been asked to field such requests from the public.
Fri, 25 Jul 2014 13:13:09 -0400
Amazon's spending spree raises margin concerns
News ImageAmazon.com Inc's heavy investment in content and technology to fight off deep-pocketed rivals is proving to be more costly than many had expected, raising fears that operating earnings will be remain under pressure indefinitely. Amazon's shares fell 12 percent to $314.76 in early trading on Friday, wiping out about $18 billion from its market value. Amazon is engaged in "a massive ecosystem war" with Apple Inc, Google Inc and Microsoft Corp Macquarie Research analyst Ben Schachter said. Chinese e-commerce giant Alibaba Holdings Group Ltd [IPO-BABA.N] also looms as a threat to Amazon as it expands in the U.S. market, Schachter and others say.
Fri, 25 Jul 2014 11:27:23 -0400
Lower printer sales hurt Xerox's revenue
News Image(Reuters) - Xerox Corp reported a 2 percent fall in second-quarter revenue, hurt by lower demand in its printing business. Net income attributable to Xerox fell to $266 million, or 22 cents per share, for the quarter ended June 30, from $271 million, or 21 cents per share, a year earlier. Revenue fell to $5.29 billion from $5.39 billion a year earlier. Revenue from its printing business, which accounts for 40 percent of total revenue, fell 6 percent. (Reporting by Soham Chatterjee in Bangalore; Editing by Savio D'Souza)
Fri, 25 Jul 2014 09:17:02 -0400
Cynk Tech shares crash after trading suspension lifted
By Rodrigo Campos NEW YORK (Reuters) - Cynk Technology shares plummeted more than 80 percent on Friday after the end of a temporary trading suspension, but the stock was only being exchanged in private deals. In mid-morning trading, Cynk was down 82 percent at $2.50 as 255,000 shares changed hands. OTC Markets Group, where the stock had traded prior to its suspension by the U.S. Securities and Exchange Commission, was not used for the trades, a spokeswoman for OTC Markets said. "Those transactions are taking place over the phone," said Saskia Sidenfaden, spokeswoman for OTC Markets Group. Fri, 25 Jul 2014 11:28:23 -0400
Seattle man gets 1-1/2 years for Microsoft insider trades
By Bill Rigby SEATTLE (Reuters) - An online stock trader who profited from inside information passed to him by a former Microsoft Corp finance employee was sentenced to 1-1/2 years in prison in Seattle on Friday. Sean Stokke had pleaded guilty to charges of insider trading, which federal prosecutors said netted more than $400,000 in illicit profits over an 18-month period for him and his Microsoft accomplice, Brian Jorgenson. Prosecutors had asked for a 1-1/2 year sentence for Stokke, 29, far short of the maximum prison sentence of 20 years for the charges of criminal insider trading, given his cooperation with investigators. Fri, 25 Jul 2014 13:11:08 -0400
Hedge fund Greenlight details short bets, still likes Apple
Apple logo is pictured inside the newly opened Omotesando Apple store at a shopping district in TokyoBOSTON (Reuters) - Hedge fund manager David Einhorn's Greenlight Capital told investors on Friday that it has short bets against supermarket chain Safeway Inc. and Questcor Pharmaceuticals which was is being taken over by Mallinckrodt Pharmaceuticals. The firm is also short cigarette maker Lorillard Inc. Martin Marietta Materials and said that Mallinckrodt might make for an "attractive short sale candidate" if the merger is completed. Einhorn, whose comments on stocks are widely watched, also threw his weight behind long-time favorites Apple Inc. ...
Fri, 25 Jul 2014 13:29:39 -0400
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