Connect to share and comment

Users report burn injuries from iPhone cables: consumer agency

(ATTNS: CHANGES headline, lead) SEOUL, April 17 (Yonhap) -- The state-run consumer advocacy body said Thursday it asked the Korean unit of Apple Inc. to inform users of the risks of burns from using iPhone cables after reports of such injuries. The Korea Consumer Agency (KCA) said three people have reported sustaining second- to third-degree burns since last year while using Apple's lightning cable, which is used to transmit data and recharge the batteries of the iPhone 5.

Weibo IPO below expectations, raises $285.6 mn

Sina Weibo has sold fewer shares than expected in its US IPO which has been priced below expectations, a report said Thursday, ahead of its listing which takes place after selloffs on Wall Street. The Beijing-based firm, often described as China's version of Twitter, sold 16.8 million US depositary shares at $17, raising $285.6 million before the sale of any additional shares to underwriters, Dow Jones Newswires said, quoting two people familiar with the deal.

IBM's 1st-quarter earnings hurt by reorganization charge; revenue slips amid hardware drop

NEW YORK, N.Y. - IBM's first-quarter earnings fell and revenue came in below Wall Street's expectations amid an ongoing decline in its hardware business, one that was exasperated by weaker demand in China and emerging markets. The world's largest technology services company has been working to expand into new areas as its hardware business falters, but the latest results show that these efforts have yet to fully pay off.

IBM's quarterly revenue sinks to 5-year low as hardware sales fall

By Supantha Mukherjee and Soham Chatterjee (Reuters) - IBM Corp, the world's biggest technology services company, reported its lowest quarterly revenue in five years on Wednesday, as Big Blue struggles with falling demand for its hardware and faces challenges in growth markets like China. Shares of IBM fell as much as 4 percent to $188.20 in after-hours trade. Revenue for the Armonk, NY-based firm fell 4 percent to $22.5 billion in the first quarter, below analysts' average estimate of $22.91 billion.

Alibaba steals Yahoo's thunder ahead of IPO

If Yahoo appears back in favor, it can thank Alibaba, the Chinese Web giant in which it holds a big stake and that is set for a public stock offering. Yahoo shares soared 6.26 percent to close at $36.35 Wednesday on the heels of a better-than-expected quarterly report, but some were more focused on the Alibaba financial results buried in the document. "The salient point of Yahoo's first quarter results was the very strong December quarter results from Alibaba," said Jordan Rohan, analyst at the brokerage Stifel.

'Chief Yahoo' David Filo returns to board

Yahoo announced the nomination Wednesday of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo." Filo was named along with Charles Schwab, head of a big investment firm bearing his name, and H. Lee Scott, former president and chief executive at Walmart.

Firing pays off for former Yahoo chief operating officer who gets $58 million in severance pay

SAN FRANCISCO - Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job. The disclosure in a regulatory filing Wednesday may lead to more second-guessing about Yahoo CEO Marissa Mayer's decision to hire de Castro as her second-in-command in October 2012. Mayer dumped de Castro in January after concluding he wasn't executing on her plan for reviving Yahoo's lacklustre ad growth. De Castro had been in charge of ad sales.

Weibo valued at $3.46 billion after bottom-end IPO pricing

(Reuters) - China's Weibo Corp will be valued at a lower-than-expected $3.46 billion when it goes public on the Nasdaq on Thursday, amidst concerns about the microblogging service's slowing user growth and the country's highly censored media environment. The Twitter-like microblogging service, owned by web portal Sina Corp, sold 16.8 million American Depositary Shares (ADSs) for $17 apiece, raising $285.6 million, an underwriter told Reuters. The company had planned to sell 20 million ADSs at between $17 and $19 per share.

Users report burn injuries from overheated iPhone cables: consumer agency

SEOUL, April 17 (Yonhap) -- The state-run consumer advocacy body said Thursday it asked the Korean unit of Apple Inc. to inform users of the risks of burns from using overheated iPhones after reports of such injuries. The Korea Consumer Agency (KCA) said three people have reported sustaining second- to third-degree burns since last year while using Apple's lightning cable, which is used to transmit data and recharge the batteries of the iPhone 5.

Yahoo nominates company co-founder, stock brokerage magnate, former Wal-Mart CEO to board

SUNNYVALE, Calif. - Yahoo co-founder David Filo is vying to rejoin the Internet company's board after an 18-year absence. The 47-year-old Filo is among three board candidates hoping to be elected at Yahoo's annual meeting scheduled for June 25. Yahoo Inc. disclosed the candidates to fill recently vacated positions in a regulatory filing Wednesday. The other nominees to the board are Charles Schwab, the founder of a stock brokerage that still bears his name, and H. Lee Scott Jr., the former CEO of Wal-Mart Stores Inc. Yahoo Inc. CEO Marissa Mayer is on Wal-Mart's board.
Syndicate content