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Reuters - Tuesday, July 14
Microsoft takes on Google as Office moves to Web
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BOSTON - Microsoft Corp <MSFT.O> will release three versions of its dominant Office software that users can access over the Web, catching up with products that rival Google Inc <GOOG.O> launched three years ago. The news helped send shares in the world's largest software maker up 2.7 percent by midday, more than double the gain in the Nasdaq Composite Index.
Facebook gets $6.5 billion valuation with share sale
SAN FRANCISCO - Facebook netted a $6.5 billion valuation for its common shares on Monday, further underscoring the fast-growing Internet social networking site's high rank among technology and media industry heavyweights. Russia's Digital Sky Technologies said it will pay $14.77 a share for Facebook common stock, boosting its stake to as much as 3.5 percent and valuing Facebook at about $6.5 billion.
Mosaid sues IBM for patent infringement
TORONTO products.
Six in 10 companies plan to skip Windows 7: survey
SAN FRANCISCO - Six in 10 companies in a survey plan to skip the purchase of Microsoft Corp's <MSFT.O> Windows 7 computer operating system, many of them to pinch pennies and others over concern about compatibility with their existing applications. Windows 7 will be released October 22, but has already garnered good reviews, in contrast to its disappointing current version, Windows Vista.
LG launches app store, initial focus on Asia
SEOUL - LG Electronics Inc <066570.KS>, the world's No. 3 handset maker, is launching an online store for mobile phone applications Tuesday with an initial focus on Asia and aspirations for a more global reach by year-end. Phone makers and mobile firms worldwide are in a race to match the success of Apple's <AAPL.O> App Store, creating their own virtual stores where users can download software and content.
Take Two reduces forecast, delays game launch
SAN FRANCISCO - Take Two Interactive Software Inc <TTWO.O> cut its financial outlook for the next two quarters due to the delayed release of its BioShock 2 video game and lower-than-expected retail orders for other titles. Shares of Take Two slid 11 percent, or 98 cents, to $8 in after-hours trade on Monday.
Mexico sets rules for mobile telephone banking
MEXICO CITY - Mexico's central bank has established rules on paying for goods and services and making other financial transactions through bank accounts associated with mobile telephones. The bank said in a statement on Monday that it had set out regulations for telephone operators and banks to open "mobile accounts" for their clients.
Big media seek 21st century business models
SUN VALLEY, Idaho - Media moguls at this week's Sun Valley conference have spent as much time discussing how to reconfigure business models disrupted by the Web as they have worrying about the weak economy. With difficult credit markets and an unclear future, talk of dealmaking has been at a minimum this year. Yet there has never been a more important time for media conglomerates and their financiers to act and adapt to the Internet age.
North Korea army behind South web attack: report
SEOUL - North Korea's military is behind a series of cyber attacks against South Korean and U.S. websites that slowed or disabled access by saturating them with traffic this week, a South Korean news report said on Saturday. The attacks on dozens of U.S. and South Korean government and business sites appeared to have all but ceased as of Friday but have crippled hundreds of personal computers that had been turned into "zombies" when they were enlisted for the attacks.
Azeri blogger detained, oil major presses case
LONDON said.
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US-TECH Summary
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