Smartphones are constantly reaching new heights in sleekness and cutting-edge technology, but investors in the U.S. wireless sector seem unconvinced. Weak results and poor growth in both major and minor telecoms firms nationwide helped spark an investor exodus from the sector, and analysts say small operators like MetroPCS and Leap Wireless have indicated they’ve simply lost faith in the promise that smartphones can boost growth. Popular with consumers and heavily subsidized to encourage uptake, investors now look to be assessing whether a future of ever-increasing costs for carriers is one they’d like to take part in.
In tech company earnings, professional networking site LinkedIn reported that its quarterly revenue more than doubled as the company endeavored to prove it can fulfill the promise of its splashy IPO. Used by professionals seeking jobs or contacts and companies seeking qualified applicants, LinkedIn was the first prominent U.S. social networking site to make its public trading debut.
Russian-born billionaire Len Blavatnik’s Access Industries has won control of Warner Music Group with an offer of $8.25 a share, according to a source familiar with the matter. The agreement would set the world’s third-largest music company’s enterprise value at approximately $3.3 billion.
Internet giants Facebook and Google are separately considering a tie-up with Skype after the Web video conferencing service delayed its initial public offering, two sources with direct knowledge told Reuters. A Skype deal could be valued at $3 billion to $4 billion, according to one of the sources.
Swiss commodity trader Glencore’s planned $11 billion listing was fully covered on its first day as investors rushed to take part in the mega-float, two sources close to the deal said on Thursday. Investors placed orders for all the shares on offer, including a 10 percent overallotment option, sources said, adding it was too soon to say where in the indicated 480-580 pence ($0.79-0.95) range the shares would be priced.
By Aviva West
(Reuters.com) – Fourteen years after the release of Juan de Marcos González and American guitarist Ry Cooder’s recording of the iconic Buena Vista Social Club, a new generation of musicians are blazing trails and widening the scope of Cuban musical art. And timeless Havana is where it’s all happening.
After 52 years under a stifling embargo with the United States and a largely unsuccessful experiment with a centrally planned economy, the capital and the country, now under the helm of Raul Castro (Fidel’s younger, slightly more pragmatist brother) is slowly beginning to shed its former skin.
By Aviva West (Reuters.com) – When it comes to R&R, Danang still hasn’t lost its touch. In the city’s post-war evolution, first came the tourists, then the swank resorts. Finally, the pro golf courses arrived.
Vietnam’s fourth-largest city and its central region’s most important sea port, Danang is best remembered for its role as host to a U.S. airbase during the Vietnam War. “China Beach”, as it was known, earned a reputation as a fun-in-the-sun stop-off at the very doorway to the war.
In the business world, as in music, Simmons boasts an impressive record. A classic immigrant rags-to-riches tale, he’s worked tirelessly over the last 36 years to turn the KISS brand into an empire. His former blood-spitting “Demon” alter ego now graces more than 2,500 different products such as ketchup, condoms, coffins and credit cards.