| Business News |
Wall Street tumbles, led by financials
(Reuters)
Reuters - Stocks tumbled more than 2 percent on
Thursday after a report showing yet another drop in U.S. home
sales prompted investors to take profits in financial shares,
which had rallied over the past week.
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Microsoft CEO backs Web spending, "done" with Yahoo
(Reuters)
Reuters - Chief Executive Steve
Ballmer on Thursday defended Microsoft Corp's need to
make heavy investments in its Internet businesses but said the
company was "done," for now, with pursuing Yahoo Inc .
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Wachovia CFO Wurtz to leave
(Reuters)
Reuters - Wachovia Corp , which posted a
record $8.86 billion second-quarter loss Tuesday, said Chief
Financial Officer Thomas Wurtz will resign from the
fourth-largest U.S. bank after a successor is named.
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Home sales at 10-year low, jobless claims jump
(Reuters)
Reuters - Jobless claims jumped and the pace
of existing home sales tumbled to a 10-year low as slowing
growth hit hiring and a glut of unsold houses weighed on real
estate, data released on Thursday showed.
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Morgan Stanley aggressively recruiting brokers
(Reuters)
Reuters - Morgan Stanley said on Thursday
it is poaching brokers from Merrill Lynch and other
rivals, accelerating the expansion of its global wealth
management business during a period of turbulence on Wall
Street.
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Jobless claims jump as housing market gets weaker
(AP)
AP - Two cornerstones of the economy — jobs and housing — sank to new depths Thursday, with unemployment claims bolting higher and home prices recording one of their steepest drops on record.
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| Academic says gadgets threaten Internet's future - 08, May 2008 |
By Peter GriffithsLONDON (Reuters) - The rise of gadgets like the iPhone, Blackberry and Xbox threatens to unravel the decades of innovation that helped to build the Internet, a leading academic has warned in a new book.Professor Jonathan Zittrain says the latest must-have devices are sealed, "sterile" boxes that stifle creativity and turn consumers into passive users of technology.Unlike home computers, new Internet-enabled gadgets don't lend themselves to the sort of tinkering and collaboration that leads to technological advances, he says.The mix of gadgets, over-regulation and Internet security fears could destroy the old system where mainstream technology could be "influenced, even revolutionized, out of left field"."I don't want to see a two-tier world where only the experts can survive ... and the non-experts are stuck between something they don't understand and something that limits them," Zittrain told Reuters in an interview.Zittrain, professor of Internet governance and regulation at the Oxford Internet Institute, Oxford University, says the Internet's simple, open architecture is key to its enormous success and also its flaws.Amateur enthusiasts have come up with scores of new ideas by tinkering with the Internet on home computers. However, hackers have caused huge disruption by exploiting its loose structure.Zittrain contrasts one of the first mass-produced home computers, the Apple II from the 1970s, with Apple's latest gadget, the iPhone. He says the iPhone is typical of what he calls "tethered appliances".
(c) 2008 Reuters
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| Other news from Technology category: |
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REDMOND, Washington (Reuters) - Chief Executive Steve Ballmer on Thursday defended Microsoft Corp's need to make heavy investments in its Internet businesses but said the company was "done," for now, with pursuing Yahoo Inc.
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WASHINGTON (Reuters) - U.S. regulators reached an agreement to conditionally approve Sirius Satellite Radio Inc's purchase of XM Satellite Radio Holdings Inc as the companies said they would pay millions of dollars to settle allegations of past rule vio
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KABUL (Reuters) - The once media-shy Taliban have gone hi-tech with DVDs, mobile phone messages, ring-tones, emails and a website to publicize their exploits and lambast their Afghan and Western enemies, a think-tank said on Thursday.
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NEW YORK (Reuters) - Couch potatoes love television, but some simply have no interest in watching sports or kids shows. So why should they pay for it?
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GENEVA (Reuters) - A Scottish schoolboy must surrender a Web address tied to the Narnia fantasy world, which his father says he gave him as a present, after a ruling by a United Nations arbitrator, an official report said on Thursday.
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NEW YORK (Reuters) - U.S. communications equipment maker Juniper Networks Inc named senior Microsoft veteran Kevin Johnson as its new chief executive, saying he will start work in September.
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SAN DIEGO (Reuters) - Batman fans inspired by his latest box office hit can bam and kapow alongside the Caped Crusader and other superheroes with the launch of the world's first licensed massively multiplayer online comic book game.
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LONDON (Reuters) - For the Olympic movement, the digital revolution is armed with a double-edged sword -- it has lured the younger generation away from sport but could open up the Olympic experience to a far wider audience.
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NEW YORK (Reuters) - Qualcomm Inc and Nokia late on Wednesday settled a 3-year, three-continent legal battle over patent licenses and royalties for the next 15 years.
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SEATTLE (Reuters) - Microsoft Corp said on Wednesday that Kevin Johnson, who as president of Microsoft's largest business division spearheaded the company's pursuit of Yahoo Inc , is leaving the software maker.
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