Indian towercos oppose FDI cap
Indian tower operators have objected to a government proposal to introduce a 74% cap on on foreign direct ownership in telecom infrastructure companies.
Apple, Google lose bid to dismiss no-poach suit
Apple, Google, Intel, Adobe, Intuit, Pixar and Lucasfilm have a been denied a petition to dismiss an antitrust lawsuit accusing the companies of illegally conspiring not to poach each other's employees.
Zuckerberg behind Instagram purchase
Mark Zuckerberg handled discussions in Facebook's $1 billion deal to acquire photo sharing app Instagram mostly by himself, and negotiated the asking price down from an initial $2 billion, sources say. The board was reportedly “told, not consulted” about the deal.
MS beats street with Q3 revenue gain
Microsoft beat expectations with a 6% increase in Q3 revenue to $17.41 billion, and a less-than-expected decline in profit for the quarter to $5.11 billion from $5.23 billion.
British MP slams plans to expand web surveillance
British MP David Davis has warned the government that proposals to extend law enforcement agencies' access to web and phone records for surveillance purposes would “create a nation of suspects.”
US operator Verizon has reported a 20% increase in first-quarter profit to $3.91 billion, on the back of improved revenue and margins.
MS outbid Facebook for AOL patents
Facebook had submitted a bid for AOL's patent portfolio before being outbid by Microsoft's $1.06 billion offer, sources say.
Telstra open to buying Consolidated Media
Australian operator Telstra is open to acquiring Consolidated Media Holdings if owner James Packer decides to sell. Consolidated Media owns 25% of pay TV operator Foxtel, while Telstra owns a 50% share.