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Reuters - 23 minutes ago
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Twitter COO Costolo replaces co-founder as CEO
SAN FRANCISCO - Twitter co-founder Ev Williams will hand the chief executive job to COO Dick Costolo, who joined the fast-growing microblogging company about one year ago to spearhead its money making efforts. Williams will focus completely on product strategy effective immediately, he wrote in a post on the Internet company's official blog on Monday.
Hard drive makers face challenge from tablets
LOS ANGELES - Hard drive makers like Seagate Technology <STX.O> and Western Digital Corp <WDC.N> could experience slower growth as more and more consumers swap PCs for tablets, but they shouldn't be counted out. With Apple's <AAPL.O> iPad and tablets from a host of others -- from Hewlett-Packard <HPQ.N> to Research in Motion <RIM.TO> -- poised to take market share from PCs in coming months, Seagate and others are scrambling to adapt to a future where fewer consumers will tote laptops, and tablets use flash memory instead of hard drives.
Verizon Wireless to pay refunds for billing errors
NEW YORK - Verizon Wireless in a statement Sunday said it will pay millions of dollars in refunds to 15 million cell phone customers who were erroneously charged for data sessions or Internet use. Verizon did not disclose how much exactly it would have to pay but said 15 million customers would receive credits or refund checks that in most cases would range from $2 to $6 but would go beyond this in some cases, on their October or November bills.
LG Elec says Android 2.2-based tablet plan dropped
SEOUL - LG Electronics Inc <066570.KS> said on Monday that it had scrapped a plan to launch a tablet computer based on Google Inc's <GOOG.O> Android 2.2 operation system known as "Froyo," a decision that may delay the rollout of its first tablet PC slated for next quarter. The decision could mark another setback for the South Korean company, which is seeking to bolster its loss-making handset division with attractive new devices, as its tablet may come too late to a suddenly congested market led by Apple Inc's <AAPL.O> successful iPad.
Disney names two execs to head digital business
LOS ANGELES - Walt Disney Co <DIS.N> on Sunday appointed two digital veterans to lead its loss-making stable of Internet properties, underscoring a renewed focus on developing digital businesses. James Pitaro, an experienced Internet executive who just left his post at running the media properties at Yahoo Inc <YHOO.O>, will oversee Disney Online, the home of Disney branded web and social media sites.
Microsoft hopes to bury iPhone, Android
SEATTLE - Last month, a few hundred Microsoft Corp <MSFT.O> employees acted out their fantasy with a mock funeral for Apple Inc's <AAPL.O> iPhone at its Redmond, Washington campus. The bizarre gathering, which morphed into a spirited Michael Jackson "Thriller" dance routine, marked the completion of its Windows Phone 7 software, and showed how badly Microsoft wants to resurrect itself in the viciously competitive phone market.
Facebook movie underscores cultural phenomenon
SAN FRANCISCO - Facebook now counts one of every two Americans as a user, would rank behind only China and India in population if it were a country and has an estimated value of more than $30 billion, larger than that of Starbucks <SBUX.O>. What could possibly be next for a website that was created in a Harvard dorm room six years ago? Try a Hollywood film, "The Social Network," that opens nationally on Friday and is already prompting discussion of Academy Awards.
Microsoft sues Motorola over Android phones
SEATTLE - Microsoft Corp <MSFT.O> sued Motorola Inc <MOT.N>, alleging patent infringement on the handset maker's line of Android phones, in the latest development in a web of legal actions in the evolving smartphone business. Microsoft, the world's largest software company, charged that former ally Motorola infringed nine of its patents in the Android-based smartphones, which run on software built by Google Inc <GOOG.O>.
New HP CEO fails to rouse investors, shares slide
SAN FRANCISCO - Hewlett-Packard Co's new CEO failed to impress Wall Street in his first conference call with investors, as doubts persisted as to whether the Silicon Valley outsider has the experience to steer the sprawling company. HP shares slid 3.4 percent after former SAP CEO Leo Apotheker provided few details on his plans to accelerate sales growth, in a performance one analyst called "lackluster."
Cyber Command slips behind schedule
WASHINGTON - Cyber Command, responsible for shielding 15,000 U.S. military networks and for being ready to go to war in cyberspace, has slipped behind schedule for becoming fully operational, the Defense Department said on Friday. The command is still putting necessary capabilities in place, said Bryan Whitman, a Pentagon spokesman.
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Other News on Tuesday, 5 October 2010 Afghan attacks kill five NATO soldiers
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