Reuters

  1. Michael Jackson Auction Canceled

    April 15, 2009 12:00 AM EDT A huge auction of Michael Jackson memorabilia scheduled for next week has been canceled and auctioneers agreed to return all the items to the singer. Auctioneer Darren Julien told Reuters the cancellation of the planned April 22-25 sale was the re ...

  2. Yahoo To Cut Hundreds Of Jobs: Source

    April 15, 2009 12:00 AM EDT Yahoo Inc is preparing to lay off several hundred workers in the first round of cuts since Carol Bartz became chief executive in January, a source with knowledge of the situation told Reuters. The layoffs could be announced next Tuesday, when Yaho ...

  3. Labels Bet Flexibility Boosts iTunes Sales

    April 07, 2009 12:00 AM EDT Apple Inc and major music labels are betting that the launch of three-tier pricing at the iTunes Music Store will boost music sales with a new mix of song-based packages and give consumers more options. Apple will announce its new three-tier price ...

  4. Australia To Build $31 Billion Broadband Network

    April 07, 2009 12:00 AM EDT Australia's government will build a $43 billion Australian ($31 billion) high-speed broadband network, leading a new private-public company, after rejecting bids by companies that it said failed to offer value for money. In a surprise move, p ...

  5. Google Could Be In Talks To Buy Twitter

    April 03, 2009 12:00 AM EDT Google Inc may be in talks to buy Internet start-up Twitter, the free micro-blogging service that allows people to send short text messages to a network of friends, the TechCrunch website reported. TechCrunch's article said the two companies ...

  6. Best Buy Results Beat Estimates

    March 27, 2009 12:00 AM EDT Best Buy Co posted a 23% drop in quarterly profit, but its shares rose after the retailer's adjusted results topped Wall Street estimates, and it forecast full-year profit above expectations as it benefits from the closure of former rival Cir ...

  7. Motown's Funk Brothers Drummer Uriel Jones Dies

    March 25, 2009 12:00 AM EDT Motown drummer Uriel Jones, whose hard-driving funk propelled classic tunes by the Temptations and Marvin Gaye, died in a Michigan hospital on Tuesday after suffering complications from a heart attack, a family member said. He was 74. Jones, the l ...

  8. Sony Ericsson Warning Stuns Ailing Mobile Sector

    March 20, 2009 12:00 AM EDT Sony Ericsson sparked fresh fear of crumbling consumer demand on Friday (March 20) when the world's No 4 handset maker said it would sell barely half of the phones it sold last quarter. Shares across the wireless sector dropped sharply on the ...

  9. Sirius XM To Roll Out iPhone App In Q2

    March 13, 2009 12:00 AM EDT Sirius XM Radio Inc looks to expand the reach of its satellite radio service with the second-quarter launch of an iPhone application as it explores a potential marketing partnership with satellite TV provider DirecTV Group. The company, which had ...

  10. Devo Whipping Up First Album Since 1990

    March 11, 2009 12:00 AM EDT Devo, the new-wave band famed for its terraced headgear and the catchy ditty "Whip It," is putting the finishing touches on its first studio album since 1990. The as-yet-untitled release is scheduled to come out in the fall. It marks Dev ...

  11. Canada To Investigate Ticketmaster Complaints

    March 06, 2009 12:00 AM EST The Canadian government has asked the Competition Bureau to investigate complaints that Ticketmaster diverts tickets to its reselling subsidiary, which then sells them for far higher prices. "The government will not stand idly by when there i ...

  12. Live Nation Posts Q4 Net Loss

    March 02, 2009 12:00 AM EST Live Nation, which last month announced plans to merge with Ticketmaster Entertainment, has reported a fourth-quarter net loss of $337.5 million or $4.33 per share, compared to a loss of $18.4 million or 25 center per share, during the same period ...

  13. Nokia Unveils Online Software Shop

    February 16, 2009 12:00 AM EST The world's top cell phone maker Nokia unveiled on Monday its new online software and media store, hoping to follow the runaway success of Apple's App Store. The focus of the cell phone market has been shifting to software development si ...

  14. Live Nation Investor Backs Merger, Opposes Diller

    February 13, 2009 12:00 AM EST The largest shareholder in Live Nation Inc said on Friday he is concerned about the role Barry Diller will play if the concert promoter merges with Ticketmaster Entertainment Inc. Sam Shapiro, chairman in Shapiro Capital Management, which holds ar ...

  15. BlackBerry-Maker RIM Sees Earnings At Low End Of Forecast

    February 11, 2009 12:00 AM EST Research In Motion said its fourth-quarter earnings and gross margin would be at the low end of its previous forecast range, even as subscriber additions topped expectations, sending shares down 8%. The BlackBerry device maker said on Wednesday th ...

  16. Nokia To Cut Production

    February 11, 2009 12:00 AM EST Cellphone maker Nokia said on Wednesday it would cut production at its key Salo plant in Finland as demand for handsets has dropped. Cellphone sales are set to dive this year, affected by consumers' reluctance to spend on new gadgets in the m ...

  17. Scalping Suit Filed Against Ticketmaster In Canada

    February 09, 2009 12:00 AM EST Ticketmaster Entertainment Inc was hit with a C$500 million ($410 million) lawsuit in Canada on Monday, alleging the company broke the law by reselling tickets at inflated prices. A Toronto man who tried to buy two tickets to a November 2008 conce ...

  18. News Corp Posts Steep Loss On Writedown

    February 06, 2009 12:00 AM EST Rupert Murdoch's News Corp posted its biggest ever quarterly net loss, after taking an $8.4 billion writedown for the value of its Dow Jones acquisition, broadcasting licenses and other assets. Excluding the charge, the results missed Wall St ...

  19. Report: EchoStar Amasses Sirius XM Debt

    February 05, 2009 12:00 AM EST Charles Ergen's EchoStar Corp has quietly accumulated a substantial portion of Sirius XM Satellite Radio Inc's maturing debt in what could be the first salvo in an attempt to take control of the company, the Wall Street Journal said, cit ...

  20. Warner Music Results Beat Street View, Sales Dip

    February 05, 2009 12:00 AM EST Warner Music Group posted better than expected results on Thursday, despite falling CD sales and slower growth in digital revenue. Net profit for the fiscal first quarter came in at $23 million, or 15 cents a share, compared with loss of $16 milli ...

  21. Rolling Stones, Lil Wayne Lawsuit Settled

    January 29, 2009 12:00 AM EST A lawsuit filed over Lil Wayne's alleged use of the Rolling Stones's song "Play With Fire" was settled today. Abkco Music Inc, which owns the rights to a portion of the Rolling Stones catalog, filed suit against UMG Recordings, ...

  22. Best Buy CEO Eyes Bankrupt Retailer Locations

    January 29, 2009 12:00 AM EST U.S. electronics retailer Best Buy Co could take advantage of bankruptcies in the sector by snapping up vacant store locations, but remains cautious as consumer spending continues to slide. "We are looking at some of those [stores], but our f ...

  23. Sony Swings To Q3 Operating Loss As Demand Wilts

    January 29, 2009 12:00 AM EST Sony Corp swung to a quarterly operating loss and reiterated a forecast for its first annual loss in 14 years, battered by a firmer yen and weaker demand while highlighting deepening woes at the electronics conglomerate. The loss announcement was ...

  24. Google Profit Beats On Strong Ad Sales

    January 23, 2009 12:00 AM EST Google Inc's quarterly earnings beat Wall Street forecasts as strong advertising sales on its self-branded Web sites helped the Internet leader defy the gloom pervading the tech sector. The results, which sent Google shares up 2.6% in after-h ...

  25. Nokia Misses Forecasts, Sees Weaker 2009

    January 22, 2009 12:00 AM EST Top cell phone maker Nokia reported a worse-than-expected dive in fourth-quarter profit, and warned market volumes would shrink 10 percent this year as the economic slowdown hits consumer spending. Analysts had forecast an 8-percent fall in the ha ...

  26. Microsoft Misses Profit, Plans To Cut Up To 5000 Jobs

    January 22, 2009 12:00 AM EST Microsoft Corp stunned Wall Street with disappointing results that included plans to slash up to 5,000 jobs and a warning that profit and revenue will almost certainly drop over the next two quarters. The news from the world's largest softwar ...

  27. Apple Profit Beats Expectations, Shares Jump

    January 21, 2009 12:00 AM EST Apple Inc reported a quarterly profit that beat Wall Street's estimates, and gave an outlook that cheered investors, who sent its shares up 10 percent. The maker of the iPhone, iPods and Mac computers said on Wednesday its net profit in the f ...

  28. Times Square Virgin Megastore To Close

    January 13, 2009 12:00 AM EST The Times Square Virgin Megastore, which is the highest volume music store in the U.S., will shut down come April. The store has been at the center of speculation since August 2007 when the Virgin Entertainment Group North America was acquired by ...

  29. Sony May Post $1.1 Billion Operating Loss

    January 13, 2009 12:00 AM EST Japan's Sony Corp will likely suffer an annual operating loss of about $1.1 billion, its first such loss in 14 years, due to sluggish sales and a stronger yen, a person with knowledge of the matter said. Shares of Sony tumbled 9%, slicing $2 ...

  30. Sixties Pop Star Dave Dee Dies

    January 12, 2009 12:00 AM EST Sixties British pop star Dave Dee has died aged 67 after a long battle with cancer. The former policeman was the lead singer with Dave Dee, Dozy, Beaky, Mick & Tich and enjoyed a string of chart hits including "The Legend of Xanadu," ...

  31. Best Buy Narrows Full-Year Profit Forecast

    January 09, 2009 12:00 AM EST Best Buy Co, the top consumer electronics retailer, narrowed its full-year profit forecast on Friday after posting a 6.5 percent drop in December same-store sales during the worst U.S. holiday shopping season in nearly 40 years. The retailer said ...

  32. Sony Ericsson CEO Preparing For Tough '09

    January 08, 2009 12:00 AM EST The chief executive of Sony Ericsson, a venture of Sony Corp and Ericsson, sees a tough cell phone market through the end of 2009, with unit sales down by about 5-6% as consumer demand slows in the weak global economy. But Hideki Komiyama, who pla ...

  33. JB Hi-Fi Says Christmas Sales Up

    January 07, 2009 12:00 AM EST Australian home electronics retailer JB Hi-Fi Ltd said on Wednesday sales over the Christmas period were above expectations and beat those of a year earlier. "We were strong across the board," Chief Executive Richard Uechtritz told Reute ...

  34. China Targets Big Web Sites In Internet Crackdown

    January 05, 2009 12:00 AM EST China has launched a crackdown on websites as the country enters a politically sensitive year, with officials accusing search engines including Baidu and Google of spreading pornography and vulgarity. A report on an official news website (www.chin ...

  35. Singer, Actress Eartha Kitt Dies

    December 25, 2008 12:00 AM EST Eartha Kitt, who rose from the Southern cotton fields to captivate audiences around the world with sultry performances as a singer, dancer and actress, died on Thursday at the age of 81. Kitt died of colon cancer for which she was recently treated ...

  36. Lawsuit Against Warner Chief Dismissed

    December 23, 2008 12:00 AM EST An appellate court dismissed the remaining two claims in a lawsuit brought against Warner Music Group chief executive Edgar Bronfman Jr. by a former CEO of publisher Simon & Schuster who claimed he helped conceive the 2003 buyout of Warner but ...

  37. Live Nation Takes $19 Million Hit On U2 Buyback Deal

    December 18, 2008 12:00 AM EST Live Nation Inc bought back 1.6 million of its shares from Irish rock band U2 for $25 million, a company executive said, backing up a report the concert promoter would make a $19 million loss on the deal. The purchase was part of a financial commi ...

  38. Best Buy Beats Expectations, Eyes Buyouts

    December 16, 2008 12:00 AM EST The basics: * EPS 35 cents vs. estimate 24 cents * Revenue up 16 percent * Buyout offered to corporate staff * Store openings to be reduced next year * Shares up 15.5 percent Best Buy Co. reported better-than expected quarterly results on Tuesday ...

  39. Apple U.S. Mac Sales Flat In November

    December 16, 2008 12:00 AM EST Apple Inc witnessed flat year-over-year overall sales in the United States for its Macs in November, while sales of rival Microsoft Corp's Windows PCs were up 7%, according to research firm NPD Group Inc, which tracks retail sales. Sales of d ...

  40. MySpace Delivers Video To Mobiles

    December 03, 2008 12:00 AM EST MySpace users with mobile phones are about to find out if they can walk and watch TV at the same time. On Wednesday (Dec. 3), News Corp's online social network will make video clips from its members' pages available for viewing on mobile ...

  41. Start-ups Knock On MySpace's Door

    December 02, 2008 12:00 AM EST MySpace, the online social network owned by News Corp, sees opportunities to buy start-ups for a fraction of what they would have cost six months ago as the economic slump slices millions of dollars off their price tags. MySpace Co-founder and Chi ...

  42. 'Eleanor Rigby' document fetches $177,000

    November 28, 2008 12:00 AM EST A 97-year-old document that contains clues to the identity of Eleanor Rigby, the subject of one of the Beatles' best-loved songs, sold for £115,000 ($177,000) at auction. The total fell well short of high estimates of around £500,000 ($769,00 ...

  43. Updated: Woolworths Set To Enter Into Administration

    November 26, 2008 12:00 AM EST The board of Woolworths is set to approve a decision to put its retail and distribution businesses into administration from tomorrow (Nov. 27). The board met at 6pm U.K. time to finalize the decision. A source has confirmed to Reuters that consult ...

  44. Mexican Tycoon Sets Eyes On Circuit City

    November 19, 2008 12:00 AM EST Mexican retail and media tycoon Ricardo Salinas Pliego owns 28 percent of Circuit City and could buy more of the troubled U.S. electronics chain, a Salinas spokesman said on Tuesday. "Up to date, Mr. Salinas has purchased just under 28 percen ...

  45. Yahoo Searches For New CEO

    November 18, 2008 12:00 AM EST Yahoo Inc said Jerry Yang will step down as chief executive as soon as the board finds a replacement, sending its shares up 4% on hopes his departure will clear the way for a deal with Microsoft. Yang -- who will return to his former role focusing ...

  46. Yahoo, Telemundo to Shutter Yahoo Telemundo

    November 17, 2008 12:00 AM EST Yahoo and Telemundo have agreed to shut down the two-year old co-branded site Yahoo Telemundo by the end of 2008, as each company will essentially launch their own Spanish-language portal next year. On Jan. 1, Telemundo will roll out the stand alo ...

  47. Wal-Mart Reports Better-Than-Expected Profit

    November 13, 2008 12:00 AM EST Wal-Mart Stores reported better-than-expected quarterly profit on Thursday as shoppers seeking relief from deteriorating global economic conditions scoured its aisles for discounts on groceries and medicine. The world's biggest retailer repor ...

  48. Best Buy Cuts Forecast As Sales Slump

    November 13, 2008 12:00 AM EST Best Buy Co Inc, the No. 1 U.S. electronics chain, slashed its profit forecast on Wednesday, the latest sign that the deepening economic crisis may bring a bleak holiday season, sending the company's shares down 7 percent. Best Buy's war ...

  49. Nokia Q3 Sales, Profits Fall

    October 17, 2008 12:00 AM EDT Nokia's third-quarter sales and profits fell from a year ago, hit by weaker cellphone demand in its European markets, but the world's top handset maker soothed growing fears about the fourth quarter. Handset makers have started to feel t ...

  50. News Analysis: SanDisk's SlotMusic

    September 22, 2008 12:00 AM EDT There are a lot of unanswered questions regarding SanDisk's slotMusic, mainly due to the limited details – like no info on content or pricing - as the product was unveiled today . While the reaction from analysts and the press is mixed, most ...

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