#Groupon shares up 50 percent at $30 at debut $GRPN
China and Russia are using cyber espionage to steal U.S. trade and technology secrets to bolster their own economic development, which poses a threat to U.S. prosperity and security, a U.S. intelligence report titled “Foreign Spies Stealing U.S. Economic Secrets in Cyberspace,” said. Intelligence services, private companies, academic institutions and citizens of dozens of countries target the United States, the report said. But it only named China and Russia. “Chinese actors are the world’s most active and persistent perpetrators of economic espionage,” the report said.
Online retailer Amazon.com added library to the list of services it offers. Kindle tablet owners with the Prime membership can choose from thousands of books to borrow for free on a Kindle device, including more than 100 current and former New York Times bestsellers, as frequently as a book a month, the company said. Amazon will initially offer slightly more than 5,000 titles in the library, including more than 100 current and former national bestsellers, such as Stephen R. Covey’s “The 7 Habits of Highly Effective People,” The Wall Street Journal reported.
Sony warned of a fourth straight year of losses, with its television unit alone set to lose $2.2 billion on tumbling demand and a surging yen, sinking its U.S. shares and raising concerns about the viability of its high-profile TV business. Investors had expected Sony to reduce its profit forecast, but not flag a swing to massive losses.
The maker of Bravia TVs, Vaio computers and PlayStation game consoles cut its sales forecast for TVs, cameras and DVD players and said it may report a 90 billion yen ($1.1 billion) net loss for the current financial year, scrapping its earlier net profit estimate of 60 billion yen.Sony’s U.S. listed shares closed down nearly 6 percent.