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Apple edges out ExxonMobil to become most valuable U.S. company

Apple shares soared on Wednesday following blockbuster quarterly earnings and the California gadget-maker leapfrogged over ExxonMobil to become the largest US company in terms of market value. Apple shares were up 6.83 percent at $449.12 in early trading on Wall Street, giving the maker of the iPhone, iPad, iPod and Macintosh computer a market capitalization of…

EU takes on Internet giants over people’s personal data

The European Commission launches Wednesday a controversial bid to compel Internet giants such as Google or Facebook to give users more control over their personal data or face fines. The proposal championed by EU Justice Commissioner Viviane Reding would force web companies to get consent from customers to collect their data, explain how it will be used, and…

MegaUpload founder faces lengthy extradition battle

(Reuters) – Efforts by the United States to extradite the mastermind of an alleged Internet piracy scheme from New Zealand to face copyright infringement and money laundering charges are likely to be long and complex. Kim Dotcom, a German national also known as Kim Schmitz, will be held in custody…

iPhone sales drive record quarter for Apple

SAN FRANCISCO — Apple blew past forecasts and reported record quarterly net profit and revenue in the first quarter since the death of founder Steve Jobs, driven by strong sales of the new iPhone. Apple said its net profit more than doubled in the first quarter of fiscal 2012 to…

Megaupload founder Kim Dotcom denied bail in New Zealand

AUCKLAND — Megaupload founder Kim Dotcom was denied bail in a New Zealand court Wednesday and remanded in custody until February 22 as US authorities seek his extradition on allegations of massive copyright theft. Judge David McNaughton declined a bail application from Dotcom, who has been in custody since police…

Online protests in Poland over ACTA anti-piracy pact

WARSAW — Nearly 100 Polish websites shrouded their pages in black early Tuesday to protest against Warsaw’s plan to sign a multilateral anti online piracy accord this week. The Anti-Counterfeiting Trade Agreement (ACTA) aims to create international standards for intellectual property protection, but some groups oppose it as limiting Internet…

U.S. government’s ‘online security’ website taken down by Anonymous

A website managed by the U.S. Federal Trade Commission (FTC), intended to advise Internet users on cyber security matters, has been taken offline by an unknown individual or individuals claiming to be part of the hacker collective “Anonymous.” In a message posted online, the hacker or hackers explains that the…

Apple again loses Dutch bid for Samsung tablet ban

AMSTERDAM (Reuters) – Apple again lost a bid on Tuesday to have Samsung tablet computers banned in the Netherlands in a Dutch appeals case over infringing copyrights of its iPad tablet computer. Apple, which has been locked in legal battles with Samsung in almost a dozen countries involving smartphones and tablets, had appealed a…

‘World’s cheapest car’ tag backfires for Nano

When India’s Tata Motors’ Nano went on sale in 2009, the concept of the “world’s cheapest car” in one of the world’s fastest growing auto markets seemed pre-destined for commercial success. Logically, the strategy appeared faultless — offering an affordable solution to millions of aspirational lower-middle class Indian families wanting to make the social…

Sony seeking Olympus stake: report

Japanese electronics giant Sony is in talks to take a stake of up to 30 percent in Olympus as the camera firm looks to shore up its finances after a $1.7 billion cover-up scandal, a report said Tuesday. The electronics giant has proposed a capital and business tie-up with the camera and medical…

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