Samsung poised to seize Nokia crown June 13, 2011 SAMSUNG could overtake Nokia as the world’s largest smartphone manufacturer this quarter, according to a research note from Nomura. And Nokia, which had been the market leader since 1996, could slump to third place the following quarter after it is overtaken by Apple. Nokia’s market cap has tumbled from a high of $285bn (£174bn) in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 12, 2011 FINANCIAL TIMES FOREIGN BANKS AND GOVERNMENTS IN DESPERATE ASSAULT ON US TAX LAW Banks and foreign governments are mounting an increasingly desperate push against a sweeping US tax law that will force overseas institutions to report their American clients to the Internal Revenue Service. The Foreign Account Tax Compliance Act was passed by Congress last [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2011 FINANCIAL TIMES THIRD INDEPENDENT DIRECTOR TO QUIT ENRC BOARD A third independent director is set to leave the board of FTSE 100 miner Eurasian Natural Resources Corporation, thrusting the London-listed Kazakh company further into turmoil. Two prominent City figures, Sir Richard Sykes and Ken Olisa, were ousted from ENRC on Wednesday. Now, according to two [...]
Finnish mobile firm’s fightback will prove futile June 9, 2011 ANOTHER day, another blow for Nokia. Richard Green, the firm’s technology supremo, has quit after just one year in the job, and you can hardly blame him. Even chief executive Stephen Elop has described the company as a “burning platform”; Green obviously thought it was a sinking ship. Much has been made of Nokia’s slaughter [...]
Fresh blow as Nokia sees technology boss walk out June 9, 2011 NOKIA yesterday said its chief technology officer has taken a leave of absence and sources say he is unlikely to return after disagreements with management on strategy. Richard Green is said to be unhappy with decisions such as abandoning the MeeGo operating system it was developing with Intel in favour of going with Microsoft’s Windows [...]
Microsoft gets ready for war with Android June 8, 2011 MICROSOFT is preparing for an all-out assault on the mobile phone market in a desperate bid to regain ground ceded to Google. The firm plans to unveil a host of new handsets to coincide with the new version of its Windows Phone 7 (WP7) platform – codenamed Mango – slated for release this autumn. Among [...]
Apple strengthens its grip on music June 7, 2011 THAT Apple was ready to launch a cloud-based music service has been the worst-kept secret since a certain Welsh footballer tried to keep his name out of the newspapers. Exactly what Apple’s latest venture means for the industry, however, is only just becoming clear. Steve Jobs’ insistence on returning from medical leave to show it [...]
BIG NEWS FROM THE E3 GAMES EVENT June 7, 2011 THE highlight of yesterday’s E3 gaming showcase event in Los Angeles was the resumption of the console wars, with Nintendo unveiling the follow-up to its blockbuster Wii. When the Wii launched in 2006 Nintendo said it would change the face of gaming. It did, drawing in a whole new demographic and knocking Nintendo out of [...]
Gaunt Jobs unveils iCloud music system June 6, 2011 STEVE Jobs yesterday broke his medical leave to announce a new cloud-based music service that threatens to sink rivals such as Spotify. The gaunt-looking Apple boss unveiled iCloud, a music-streaming and online data storage service that can be accessed on devices such as the iPad and the iPhone. The service will allow users to instantly [...]
Wall Street drops on poor US data June 6, 2011 THE S&P 500 extended its slide to a fourth day yesterday, hitting its lowest level since March 18, as a spate of recent weak US data lent support to a bearish outlook for the economy. Sectors most closely associated with economic fortunes took the biggest beating, with shares of Bank of America off 4 per [...]