Tech wrap: U.S. spies Chinese and Russian cyber spies

November 3, 2011

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.

Eastman Kodak warned that it must raise $500 million in new debt or complete a multibillion dollar patent sale to survive the next 12 months. The photography company also posted dismal third-quarter results, with cash holdings down 10 percent from the second quarter, and it projected deeper losses this year as new printers and digital cameras failed to gain traction. Kodak hired investment bank Lazard in July to help it sell more than 1,100 digital imaging patents, which analysts have estimated could be worth as much as $2 billion to $3 billion.

Apple said it will release a software update to its iOS 5 operating system, acknowledging some customer complaints on the performance of the new iPhone 4S battery. Apple did not provide any more details but a rash of complaints on the new phone’s short battery life have cropped up in online forums.

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