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Samsung's Galaxy powers record $5.9 billion profit; euro a worry
Jul 6th, 2012
SEOUL (Reuters) - Soaring sales of the Galaxy smartphone drove record quarterly profit of $5.9 billion at Samsung Electronics, though the South Korean tech giant is sweating over how Europe's debt crisis is denting demand in its biggest market for televisions and home appliances. The flagship Galaxy smartphones are likely to have stretched their lead over rivals Apple and Nokia - despite a parts shortage that meant it struggled to keep up with stronger-than-expected demand for its latest S III model. ... (Source: Reuters) -
After years of maintaining that BlackBerry was the only smartphone smart enough for the Department of Defense security blanket, the Pentagon has finally approved the Samsung Galaxy S IV, and sources tell The Wall Street Journal that Apple's iPhone is expected to follow some time later this month. The government has been ditching its BlackBerry... [Full Article]
ISTANBUL (Reuters) - Iran is prepared to pursue nuclear diplomacy with world powers before or after next month's presidential election in the Islamic Republic, its chief negotiator said on Thursday. Saeed Jalili, who is also a candidate in the presidential race, was speaking after talks on the nuclear dispute with European Union foreign policy... [Full Article]
NEW YORK (AP) - A stock market surge took a pause Monday after investors pushed indexes to record levels last week. (Source: Associated Press)... [Full Article]
(Reuters) - Yahoo Inc will buy online blogging service Tumblr for $1.1 billion in cash, the company said on Monday. The deal, which will use about one-fifth of Yahoo's $5.4 billion in cash and marketable securities, is the largest by far since Yahoo Chief Executive Marissa Mayer took the reins in July in order to reverse a multi-year decline i... [Full Article]
LONDON (Reuters) - Royal Mail said annual profit had more than doubled on the back of an online shopping boom, providing a timely boost ahead of a stock market listing expected later this year. An initial public offering (IPO) of the state-owned firm, which has 150,000 staff and sales of 9.15 billion pounds, is expected to value Royal Mail at betwe... [Full Article]
BERLIN (Reuters) - Germans lamented their unexpectedly poor showing at the Eurovision Song Contest, blaming Chancellor Angela Merkel's tough stance in the euro zone crisis for their failure to win any points from 34 of the 39 countries voting. Denmark's Emmelie de Forest won the event, watched by around 125 million people across Europe, w... [Full Article]
Twitter was amused earlier today by reports of a Saudi Arabian sheikh dooming Twitter users to a loss of "this world and his afterlife." What to an American observer seems like inexplicable hyperbole may actually be an escalation of attempts to crackdown on a key tool for dissent. (Source: The Atlantic Wire)... [Full Article]
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