|
Satyam Chair Confesses Stunning Financial Fraud
1 hour ago
Source: E-Commerce Times
India's IT outsourcing industry received a shock Wednesday with the news that Satyam Computer Services Chairman Ramalinga Raju had falsified corporate earnings and assets. Raju inflated the cash on the company's balance sheet by nearly $1 billion, overstated September 2008 quarterly revenues by 76 percent and profits by 97 percent. ... more
|
|
|
Intel Warns Investors to Brace for Painful Q4 Report
3 hours ago
Source: E-Commerce Times
Chip giant Intel has once again preannounced dire financial results -- yet another sign of the year-long U.S. recession's heavy toll on the technology industry. Intel said Wednesday that fourth-quarter revenue will come in at $8.2 billion, down 20 percent from the third quarter and down 23 percent year-over-year. ... more
|
|
|
Second Cut Is Deepest for Orbitz
5 hours ago
Source: E-Commerce Times
Online travel agency Orbitz Worldwide on Wednesday said it named Barney Harford as president and chief executive and added that it would cut costs an additional $20 million to $25 million a year. Harford, 37, who has worked in the Internet travel business at rival Expedia, replaces Steve Barnhart as Orbitz CEO. ... more
|
|
|
Time Warner Takes Its Lumps, Predicts a Loss
5 hours ago
Source: E-Commerce Times
Media company Time Warner said Wednesday that it expects to record a fourth-quarter $25 billion impairment charge for its cable, publishing and AOL units that will lead to an operating loss for the period. New York-based Time Warner also anticipates a full-year loss, down from a prior outlook for a profit between $1.04 and $1.07 per share. ... more
|
|
|
China Doles Out 3G Licenses
6 hours ago
Source: E-Commerce Times
China assigned third-generation mobile phone licenses Wednesday to three carriers in a long-awaited step that is expected to prompt $41 billion in spending on new equipment. Licenses were granted to China Mobile, China Unicom and China Telecom, the Ministry of Industry and Information Technology said. ... more
|
|
|
Time to Build Your Communities
10 hours ago
Source: E-Commerce Times
Happy New Year! Let's be counterintuitive for a moment, shall we? We're in a recession and we all know it. Traditionally (and sadly) in an economic downturn, when companies seek to lower their expenses, they cut their marketing budgets -- and why not? Marketing costs money. ... more
|
|
|
Negotiating the Domain Name Thicket
10 hours ago
Source: E-Commerce Times
Royal Cummings sells bobblehead dolls over the Internet. It's a specific product that demands a specific address for Internet shoppers. So, when Cummings decided to get into the burgeoning bobblehead business, he decided the best way to break through the clutter of online bobblehead buyers and sellers would be to secure the most relevant name possible for his Web site. ... more
|
|
|
Xbox 360 Weathers 2008 With Record Sales
22 hours ago
Source: E-Commerce Times
Microsoft announced Monday that 2008 was the best year ever for its Xbox 360 video game system, despite a year-long U.S. recession that has seen consumer spending plummet. The company's worldwide lead over rival Sony's PlayStation 3 widened by 8 million units in 2008, while its total number of 360s sold since the device hit the market three years ago expanded to 28 million. ... more
|
|
|
Telecom Shows Signs of Buckling Under Recessionary Pressures
23 hours ago
Source: E-Commerce Times
The year-long U.S. recession has started to take its toll on the telecomm sector. AT&T and Verizon shares were hit hard Monday after being downgraded by Bernstein Research. The firm downgraded Verizon from market perform to underperform and AT&T from outperform to market perform. Verizon stock was down 7.16 percent to $32.15 per share and AT&T stock was down 4.35 percent to $28.15 in late-day trading on Monday. ... more
|
|
|
The Recession, the Cloud and Salesforce.com
23 hours ago
Source: E-Commerce Times
Google, Yahoo, Cisco, Intel, AMD and other companies are slashing employees and cutting expenses. And then there's Salesforce.com. During Thanksgiving week, the San Francisco-based software company began driving a big white truck -- a traveling billboard -- up and down Highway 101 as part of a major recruiting push. ... more
|
Next