Google likely to be fined $1.3 billion for tax noncompliance: The taxman in France has been investigating Google’s revenue in the country for months and is likely to be ordered to pay $1.3 billion to the tax department. With 138 million euros in revenues in 2011, Google uses many tax optimisation strategies but has denied the accusation. Read more here.
LinkedIn Beats Expectations with strong quarter: The social network for professionals has been analyst expectations to post a strong third quarter. The company’s revenues stood at $252 million, up 10% sequentially and up 81 % year on year. Linkedin made a net loss of 2 cents per share in Q3. Earnings per share was up 22 cents from Q2. Read more here.
Sony comes back with a profit: Japan’s Sony Corp reported an operating profit in the second quarter after posting a loss a year ago. Helped by the sale of a chemicals business that offset weak demand for its TVs and other devices, and it kept its full-year profit guidance, reports reuters. Read here.
Start-ups plan new ways to deal with future disasters: Floating robots to gather storm data, fuel cells for power outages, and tools to choose evacuation routes and help responders stay connected to the Internet are among the innovations that increasingly will help responders deal with future disasters, start-up companies say. These tools are helping track weather patterns and measure their strength, soften their impact and speed recovery. Many are already proving their worth, not just in massive storm Sandy but in other weather disasters such as Hurricane Isaac and this summer’s extreme drought in the U.S. Midwest. Read more here.
E-readers are passe. Already: Amidst our growing love affair with the tablet, spare a thought for its increasingly shelfbound sibling: the e-reader. Take Taiwan’s E Ink Holdings Inc (8069.TWO), which makes most of the monochrome displays for devices such as Amazon.com Inc’s (AMZN.O) Kindle and Barnes & Noble Inc’s Nook. After five years of heady growth during which shipments rose 100-fold, it got a jolt at the end of 2011 when monthly revenues dropped 91 percent in two months. Read more.
DRDO, PM adviser’s websites hacked: Websites of key Indian government organisations, including an advisor to the prime minister and the defence establishment DRDO, reportedly came under cyber attacks Wednesday night, leading to their shutdown for a while, government sources said Thursday. Read more here. This is not the first time its’ happened. Read our earlier coverage here.
Lenovo launches smartphones in India: PC maker, Lenovo today announced its foray into the smartphone market in India. This move stems from Lenovo’s 4 screen strategy in the PC + era, of which smartphones is a key component. The four screens comprise of PCs, tablets, smartphones and smart TVs. Lenovo is entering the Indian market for smartphones after having built a strong and successful mobile phone business as the number two player with 11.2% (Q2 CY2012) market share in China. The smartphones are all based on the Android platform and will be priced in the range of Rs 6,499 to Rs 28,499. Read more here.