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'I Am Google': Pride Comes Before a Fall
2014-05-19 14:00:00| TechNewsWorld
Last week, I observed repercussions from one of the most arrogant moves I've ever seen an executive make. A small uproar occurred when Google's CTO learned there were fewer people than he'd expected at an event he'd volunteered to speak at. As he stormed out, he uttered the immortal words, "I Am Google," to the event organizer -- whom he apparently thought was a booth babe.
Global Markets-Shares fall for third day on growth worry
2014-05-17 17:03:53| IT Services - Topix.net
Global equity markets eased on Friday as concerns about future economic growth weighed on share prices on Wall Street, while government debt prices fell on surprisingly strong U.S. housing data.
Hotter nights may cause rice yields to fall
2014-05-17 08:46:00| Climate Ark Climate Change & Global Warming Newsfeed
SciDevNet: Nights are getting hotter and scientists are sweating over the possibility that rice yields may fall as a result. Decreasing rice harvests mean higher prices. That would be a scary scenario in Asia where rice is considered not only a basic food staple but also a political commodity. Shortages of the commodity in 2007-2008 angered consumers across the region and caused some governments to wobble. A 35-year climate trending by the International Rice Research Institute (IRRI) under its Long-Term Continuous...
Cisco quarterly results fall less than expected
2014-05-15 08:42:00| Telecompaper Headlines
(Telecompaper) Cisco reported revenues for the three months to April down 5.5 percent year-on-year to USD 11.5 billion. Net profit for its fiscal third quarter fell 12.0 percent to USD 2.2 billion, and EPS was down 8.7 percent to USD 0.42. After operating cash flow of USD 3.2 billion in the quarter, Cisco ended April with total cash of USD 50.5 billion. Cisco said it was pleased with the better-than-expected results. The company said orders strengthened in the US and European markets during the quarter, led by the commercial and enterprise segments and demand for its high-end routing platforms, data centre and security products. Emerging markets were more challenging, with orders down in the past quarter, and the service provider market also continued to see weak demand, Cisco said.
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Vimpelcom cuts outlook as revenues fall 10% in Q1
2014-05-14 09:19:00| Telecompaper Headlines
(Telecompaper) Vimpelcom lowered its full-year outlook after reporting a weak set of first-quarter results. The company now expects a low to mid single digit decline in revenue and EBITDA this year, after previously forecasting stable results. As a result, net debt will be around 2.4x EBITDA, versus an earlier target fo 2.3x. Capital expenditure is expected to remain high, at 21 percent of revenue excluding licences. In the first quarter, revenue fell 10 percent year-on-year to USD 5.02 billion, hurt by negative currency effects and the difficult market conditions in Ukraine. On an organic basis, revenue was down 6 percent in Russia, 7 percent in Italy and Ukraine, and 1 percent in Africa and Asia, while growing 3 percent in the CIS states. Vimpelcom said it expects market conditions to remain difficult this year in its two largest markets, Russia and Italy. Group EBITDA fell 11 percent to USD 2.09 billion, and net profit plunged to USD 39 million from USD 408 million a year ago. Vimpelcom increased capex 24 percent to USD 736 million in Q1, while operating cash flow fell 23 percent to USD 1.35 billion. The group's mobile customer base was still up 3 percent year-on-year to 218 million, and all the business units posted double-digit growth in data revenues.
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