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Sony surprises with first quarter profit

Jul 31, 2014

TOKYO (AP) — Sony reported a surprise eightfold jump in quarterly profit as sales got a perk from a cheap yen and its bottom line was helped by gains from buildings and its stake in a video-game maker.

Sony Corp. said Thursday that profit for the April-June fiscal first quarter rose to 26.8 ...

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Samsung profit falls as smartphone sales slow

Jul 31, 2014

By YOUKYUNG LEE, AP Technology Writer

SEOUL, South Korea (AP) — Samsung Electronics Co. reported a bigger-than-expected fall in second quarter profit on Thursday and said it was uncertain if earnings from its handset business would improve in the current quarter.

Samsung warned earlier this month ...

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Portland OKs Airbnb-type short-term rentals

Jul 30, 2014

By STEVEN DUBOIS, Associated Press

PORTLAND, Ore. (AP) — The Portland City Council voted Wednesday to legalize short-term rentals in single-family homes, giving added legitimacy to rental websites such as Airbnb.

Homeowners will be allowed to rent one or two bedrooms once a safety inspection is ...

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Nintendo reports loss on shaky Wii U sales

Jul 30, 2014

By YURI KAGEYAMA, AP Business Writer

TOKYO (AP) — Nintendo Co. sank to a worse-than-expected loss for the fiscal first quarter on lagging Wii U and 3DS video-game machine sales.

But the Japanese company behind Super Mario and Pokemon games stuck to its annual forecasts Wednesday for a 20 billion ...

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Indian online retailer Flipkart raises $1 billion

Jul 30, 2014

MUMBAI, India (AP) — India's largest online e-commerce company, Flipkart, says it has raised $1 billion in new capital as the company gears up for competition with Amazon's push into the Indian market.

The company says the funds will be used to invest in expansion, especially in mobile technology.

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Twitter 2Q results soar, stock flies high

Jul 29, 2014

By BARBARA ORTUTAY, AP Technology Writer

NEW YORK (AP) — The little blue bird is flying high. Stronger-than-expected financial results pushed Twitter's stock sharply higher on Tuesday after the short messaging service said its revenue more than doubled in the second quarter.

Twitter also grew its ...

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EU antitrust body clears Apple's $3bn Beats deal

Jul 28, 2014

BRUSSELS (AP) — The European Union's antitrust authority has cleared Apple's $3 billion deal to buy Beats Electronics, which makes headphones and offers music streaming services.

The 28-nation bloc's executive Commission said Monday the transaction does not threaten competition because the firms'

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Professors object to FAA restrictions on drone use

Jul 27, 2014

By JOAN LOWY, Associated Press

WASHINGTON (AP) — University and college professors are complaining that government restrictions on the use of small drones are likely to stifle academic research.

In a letter to the Federal Aviation Administration on Friday, 30 professors said a clarification the ...

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Comic-Con gets first look at 'Mockingjay' trailer

Jul 25, 2014

SAN DIEGO (AP) — The trailer for the next film in the popular "Hunger Games" series is making its premiere at Comic-Con.

Fans gathered Friday at the Capitol Gallery in downtown San Diego, where holographic versions of victors Peeta Meelark and Johanna Reyes offered visitors a silent welcome before ...

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Lyft says it's starting New York City service

Jul 25, 2014

ALBANY, N.Y. (AP) — The on-demand ride-sharing app Lyft says it is starting limited service in New York City after reaching agreement with state and city officials to resolve regulatory issues.

New York's attorney general and Department of Financial Services say the company agreed to operate "in ...

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Report: China to declare Qualcomm a monopoly

Jul 25, 2014

By JOE McDONALD, AP Business Writer

BEIJING (AP) — Chinese regulators have concluded Qualcomm Inc., one of the biggest makers of chips used in mobile devices, has a monopoly, a government newspaper reported Friday.

Regulators have completed an investigation of Qualcomm, the China Daily newspaper ...

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Baidu profit up 34 percent as mobile service grows

Jul 24, 2014

BEIJING (AP) — Baidu Inc., which operates China's most popular search engine, says its quarterly profit rose 34 percent over a year earlier as its mobile business grew.

Baidu said Friday it earned 3.5 billion yuan ($571.1 million) in the three months ended June 30. Revenue rose 58.5 percent to ...

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Amazon shares fall on 2Q loss

Jul 24, 2014

SEATTLE (AP) — Shares of Amazon.com Inc. fell Thursday after the e-commerce retailer reported a deeper-than-expected second quarter loss as expenses outpaced a surge in revenue.

Amazon has long focused on spending the money it makes to grow and expand into new areas. In one of its most ...

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Texas governor's startup fund is not all it seems

Jul 24, 2014

By PAUL J. WEBER, Associated Press

AUSTIN, Texas (AP) — Texas Gov. Rick Perry has distributed $205 million in taxpayer money to scores of technology startups using a pet program designed to bring high-paying jobs and innovation to the nation's second most-populous state.

But a closer look at the ...

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Nokia sees brighter future without handset unit

Jul 24, 2014

By JARI TANNER, Associated Press

HELSINKI (AP) — There is life after mobile phones for Nokia.

Shares in the Finnish wireless equipment maker surged Thursday after it reported higher profits and an improved earnings outlook in the wake of the sale to Microsoft of its troubled handset division.

The ...

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Facebook 2Q earnings, revenue soar

Jul 23, 2014

By The Associated Press

MENLO PARK, Calif. (AP) — Facebook is on a roll. The world's largest online social network posted sharply higher earnings on Wednesday as revenue from mobile advertising continued to grow, and more people used it, more often.

The company's shares climbed nearly 4 percent in ...

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Twitter admits to diversity problem in workforce

Jul 23, 2014

SAN FRANCISCO (AP) — Twitter is acknowledging that it has been hiring too many white and Asian men to fill high-paying technology jobs, just like several other major companies in Silicon Valley.

The lack of diversity in Twitter's workforce of roughly 3,000 people was spelled out in data released ...

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Social Security spent $300M on 'IT boondoggle'

Jul 23, 2014

WASHINGTON (AP) — Six years ago the Social Security Administration embarked on an aggressive plan to replace outdated computer systems overwhelmed by a growing flood of disability claims. Nearly $300 million later, the new system is nowhere near ready and agency officials are struggling to salvage ...

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Awarded a Pell Grant? Better double-check

Jul 23, 2014

WASHINGTON (AP) — Potentially tens of thousands of students awarded a Pell Grant or other need-based federal aid for the coming school year could find it taken away because of a mistake in filling out the form.

The mistake primarily stems from an online form change to the Free Application for ...

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NYC official: Thieves got into 1K StubHub accounts

Jul 23, 2014

By JENNIFER PELTZ, Associated Press

NEW YORK (AP) — The Manhattan district attorney says six people have been indicted in an international ring that managed to take over more than 1,000 StubHub users' accounts and fraudulently buy tickets to such prime events as Jay-Z and Elton John concerts, a New ...

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