- Tiger Global invests $50 million in Automattic's WordPress.com - May 24 2013 15:07
By Sarah McBride SAN FRANCISCO (Reuters) - Automattic, the company that operates blogging service WordPress.com, announced a $50 million investment from hedge fund and private-equity investor Tiger Global on Friday. The investment comes on the heels of Yahoo's $1.1 billion acquisition of blogging company Tumblr, showing the high prices fast-growing services that targeting Internet users can command. The valuation for Automattic was similar, Fortune reported. A spokeswoman for WordPress declined to comment. WordPress powers the blogs at companies such as CNN. ... - ITV News Twitter account hacked by Syrian Electronic Army - May 24 2013 09:04
LONDON (Reuters) - British broadcaster ITV on Friday became the latest media outlet to have one of its Twitter feeds hacked by anonymous supporters of Syria's President Bashar al-Assad, just days after Twitter beefed up security to prevent such attacks. Twitter Inc said on Wednesday that it had started rolling out an optional two-step authentication regime for its users to thwart hackers. The Associated Press, Britain's Financial Times and Daily Telegraph newspapers have all previously succumbed to attacks from the self-styled Syrian Electronic Army. ... - One Direction sweeps awards for most popular social media stars - May 24 2013 07:14
By Patrick Johnston SINGAPORE (Reuters) - British boy band One Direction has swept the inaugural awards recognizing the most popular people in social media globally, coming top in four out of 10 categories at a star-studded ceremony in Singapore. One Direction was named most popular music group, most popular UK musicians, most popular in the UK, and most popular in west Europe, at the Social Star Awards, but did not show up to collect their prizes, sending their thanks by videolink. ...
- Russia's leading social network banned by "mistake" - May 24 2013 03:47
By Douglas Busvine MOSCOW (Reuters) - Russia's leading online social network was briefly banned on Friday, in a move dismissed as a "mistake" but which follows intensifying official pressure on the company as President Vladimir Putin consolidates his power. VKontakte (www.vk.com), Europe's largest homegrown social network with 210 million registered users, was put overnight on a "black list" of sites barred from distributing content inside Russia. Hours later, the ban was lifted. ...
- Salesforce.com's quarterly results disappoint Wall Street - May 23 2013 17:30
By Noel Randewich (Reuters) - Salesforce.com Inc's quarterly earnings and outlook disappointed investors as costs rise following a spree of acquisitions, sending its shares lower. Under Marc Benioff, Salesforce's CEO and founder, the company's fast revenue growth has made it a favorite with investors eager to own part of the growing trend among businesses to outsource their information technology needs - from servers to software, a phenomenon known as cloud computing. But Salesforce has struggled to earn consistent profits. ...
- WikiLeaks doc director on Julian Assange: 'The balls of this guy - I thought, 'wow.' - May 23 2013 17:22
By Sharon Waxman LOS ANGELES (TheWrap.com) - WikiLeaks founder Julian Assange seemed like an intriguing topic for prolific documentarian Alex Gibney, but little did he know the rabbit hole of secrets, lies and hypocrisy he would find as he dug into his subject. Gibney's latest work, "We Steal Secrets: The Story of WikiLeaks," about Assange and his "radical transparency," is a fascinating look at one of our era's most fascinating information rebels. WaxWord caught up with Gibney ahead of the movie's May 24 release. ...
- Hulu video site auction attracts four bidders: sources - May 23 2013 17:00
By Ronald Grover LOS ANGELES (Reuters) - Former News Corp president Peter Chernin and private equity fund Guggenheim Digital Media have placed bids for Hulu, two people with knowledge of the matter told Reuters, triggering a tug-of-war for the online video service. Satellite operator DirecTV and cable operator Time Warner Cable Inc also put in bids, one of the people told Reuters. ...
- Zach Braff taught crowdfunding to Woody Allen - and he liked it - May 23 2013 16:28
By Greg Gilman LOS ANGELES (TheWrap.com) - Reaction to Zach Braff's use of Kickstarter to fund his next indie film has been mixed, to say the least. But according to the "Scrubs" star, Woody Allen is "riveted" by it. During an interview on SiriusXM talk show "Unmasked," Braff said that the Oscar-winning "Annie Hall" director had no idea what crowdfunding was before meeting with him to discuss a project. "By the way, I'm the one who explained crowdfunding to Woody Allen," Braff said. "He's one of my heroes and I met him because we were talking about doing something together. ...
- Pittsburgh on the Hudson? Wrong city in NY City campaign logo - May 23 2013 14:34
NEW YORK (Reuters) - For New York City mayoral hopeful Anthony Weiner, the road to City Hall leads through Pittsburgh. Weiner, the candidate who infamously resigned from the U.S. Congress two years ago in a sexting scandal, unveiled a video announcing his mayoral candidacy and a campaign logo on his website on Wednesday. The logo is written in blue and orange - the colors of Weiner's beloved New York Mets baseball team. But the image of the skyline that forms its backdrop, while similar to iconic images of New York's Brooklyn Bridge, is actually that of Pittsburgh's Roberto Clemente Bridge. ...
- EU wants big companies to reveal national tax bills - May 23 2013 05:44
By John O'Donnell BRUSSELS (Reuters) - Europe's top regulatory official is seeking to force large companies to disclose how much tax they pay in each country where they operate, a measure some politicians say could curb tax avoidance. Michel Barnier, the European commissioner in charge of drafting business regulation, said in a speech in Amsterdam that rules which will force banks to report their profits, taxes and subsidies by country from 2015 should be extended to cover other companies. "We will expand these reporting obligations to large companies and groups," he said on Thursday. ...
- Twitter beefs up security after hacking spree on media - May 22 2013 14:45
By Jim Finkle (Reuters) - Twitter Inc unveiled technology to boost security for its users, following a spate of attacks on accounts of prominent media outlets including the Associated Press, the Financial Times and The Onion. The micro blogging site, which transmits some 400 million messages a day, said on Wednesday that it had begun rolling out an optional "login verification" service to thwart hackers seeking to hijack accounts with stolen passwords. ...
- Pearson agrees $75 million settlement in U.S. e-books case - May 22 2013 09:41
By Kate Holton and Nate Raymond LONDON/NEW YORK (Reuters) - British publisher Pearson's Penguin unit said on Wednesday it would pay $75 million in damages plus costs to U.S. states and consumers as part of an agreement over alleged price-fixing in the e-book market. Pearson, which will take an extra provision on its accounts this year after setting aside $40 million in 2012, had already reached an agreement with the U.S. Justice Department in the e-book pricing case. ... - British opposition leader says Google tax behavior 'wrong' - May 22 2013 08:56
By Andrew Osborn and Costas Pitas LONDON (Reuters) - Google Inc's tax affairs came under renewed scrutiny in Britain on Wednesday when the leader of the opposition Labour party accused the Internet company of wrongly going to "extraordinary lengths" to avoid paying tax. In comments designed to politically outflank Prime Minister David Cameron ahead of next month's G8 summit on what has become a high-profile issue, Ed Miliband, the Labour leader, said he was disappointed that Google paid so little tax. "I can't be the only person here who feels disappointed that such a great company as Google ...
- Young faces enliven Kuwait's faded art scene - May 22 2013 08:47
By Sylvia Westall KUWAIT (Reuters) - After two lackluster decades, Kuwait is experiencing a quiet revival of an arts scene once known as the most avant garde in the Gulf, thanks to a new generation eager to tackle sensitive issues using cutting-edge art forms. The artists have been exhibiting works in the graphic arts, photography, animation and fashion in private galleries but also bypassing traditional venues and arts groups - and possible censorship - by showing their work online to reach an audience beyond the 3.7 million people in Kuwait. ...
- Disgraced ex-congressman Weiner announces candidacy for NYC mayor - May 22 2013 06:45
By Edith Honan NEW YORK (Reuters) - Two years after resigning from Congress in a lewd photo scandal, former U.S. Representative Anthony Weiner announced in a video message early on Wednesday he is running for New York City mayor. "I made some big mistakes and I know I let a lot of people down, but I also learned some tough lessons," Weiner said in the video. "I'm running because I've been fighting for the middle class and those struggling to make it my entire life. ...