India's Reliance Communications has reported a nearly 60% drop in net profit for the September quarter to 1.02 billion rupees ($18.7 million), as the company continued to grapple with a large debt pile and intense competition.
Qualcomm’s market value has overtaken rival chip firm Intel’s for the first time, after a bullish profit forecast resulted in its shares increasing 7.1% in morning trading yesterday. The increase left Qualcomm’s value at $106 billion (€83.1 billion) versus $105 billion for Intel.
RIM has won US government security clearance for the upcoming devices based on its BlackBerry 10 platform, even as US agencies consider expanding their use of competing platforms.
The incumbent Australian Labor party has backtracked on a controversial plan to legislate for a mandatory ISP-level internet filter, but will use existing laws to order a block on hundreds of child abuse websites monitored by Interpol.
Deutsche Telekom has recorded a €6.9 billion ($8.79 billion) loss for the third quarter – its biggest in more than a decade - due to a write-down incurred from the merging of US division T-Mobile USA with MetroPCS. But revenue and operating profit beat analysts' estimates.
Google plans to increase funding for its venture capital division by $100 million (€78.4 million) per year, so enabling the business to compete with rival arms from firms including Intel. The total annual fund of $300 million should enable the division to take part in later-stage financing rounds.
Foxconn chairman Terry Gou has admitted that the company is struggling to meet demand for the iPhone 5, due to the high difficulty of assembling the device .
Mastercard has unveiled a credit card sporting a built-in display and numeric keypad that can be used to generate one-time passwords to access online banking. The card is due to launch in Singapore in January, with a global rollout to follow.