EA loses less money but its outlook is below forecasts, sending stock down
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Intrinsyc Software lays off high-ranking managers to save $800,000 annually
VANCOUVER, B.C. - Intrinsyc Software International Inc. (TSX:ICS) said Monday it has made cuts to its executive staff in an effort to save eight per cent, or $800,000, in annual expenses.
The Vancouver-based maker of software for mobile devices named executives and managers who will be leaving the company, including David Manuel, vice-president of device development and Souheil Gallouzi, vice-president of mobile product development. Neither role will be replaced, the company noted.
Wi-Lan signs letter of intent to settle lawsuit filed against it by Telus
OTTAWA - Technology firm Wi-Lan Inc. (TSX:WIN) says it has signed a letter of intent to settle a lawsuit filed by Telus Communications Inc. (TSX:T), which claimed ownership interests in several patents.
Wi-Lan said the suit filed by Telus involves two principle claims, one of which claimed an ownership interest over four patents collectively called channel estimation patents.
Bell users can watch Olympics live on phones - but it could be costly
TORONTO - Watching live TV on a mobile phone isn't an entirely new concept, and yet relatively few Canadians have probably done it.
Bell (TSX:BCE) is hoping that changes during the Vancouver Olympics. The company is offering access to 16 channels of live video, as well as highlights packages that are updated every half hour.
McGuinty shrugs off accusations of vote-buying with Nortel pension guarantee
OTTAWA - It's up to voters to decide whether the Ontario Liberals are trying to buy votes in an upcoming Ottawa byelection by providing an estimated $200 million to help Nortel pensioners or just doing the right thing, Premier Dalton McGuinty said Monday.
"I have a tremendous amount of confidence in voters to draw whatever conclusions they feel are fair and to make their decisions accordingly," he said.
Nokia to axe 285 jobs, streamline operations at handset plant in Finland
HELSINKI, Finland - Nokia Corp. said Monday it will lay off 285 people in Finland, as the world's largest mobile phone maker strives to cut costs and streamline operations.
In November, Nokia axed 550 jobs in Japan, Denmark and Finland at research and development units that globally employ 17,000 workers.
Ontario government to top up Nortel pensions, government source
TORONTO - A move by the Ontario government to pay into Nortel's underfunded pension plan just days after calling a byelection in the Ottawa riding where many of those seniors live is a "callous" and cynical attempt to buy votes for the Liberal candidate, the Opposition charged Sunday.
It's a move that may help some pensioners but doesn't address many problems and proposals suggested by former workers, who have been lobbying the government for months amid fears of losing their income.
IMRIS books first quarter of positive results, record revenues in Q4
WINNIPEG - Medical technology company IMRIS Inc. (TSX:IM) booked its first-ever positive results as revenues more than tripled in the fourth quarter.
The company said Monday it earned $418,000 or two cents a share in the October-December period, its first quarterly earnings since its formation in 2005.
Report: China shuts down hacker training Web site that collected $1 million in members’ fees
BEIJING - Police in central China have shut down a hacker training operation that openly recruited thousands of members online and provided them with cyberattack lessons and malicious software, state media said Monday.
The crackdown comes amid growing concern that China is a centre for Internet crime and industrial espionage. Search giant Google said last month its email accounts were hacked from China in an assault that also hit at least 20 other companies.
Startup wants to extend 'Kwedit' to people without credit or debit cards
NEW YORK - A new startup called Kwedit wants to help teenagers and other people without credit or debit cards buy virtual goods online.
If it catches on, Kwedit could broaden the market for virtual items and even teach kids about real credit, says CEO Danny Shader, who headed Accept.com before Amazon.com Inc. bought the developer of online payment systems in 1999.
Summary Box: Startup wants to extend 'Kwedit' to people buying virtual goods online
THE IDEA: A startup called Kwedit wants to help people without credit or debit cards buy virtual goods used in games and other Web sites. For instance, some games let you play for free but sell you virtual add-ons, such as seeds and land in a farming game.
HOW IT WORKS: Kwedit lets you promise to pay later for something you're buying now. If you keep your promise, your Kwedit score goes up and you can borrow more money. If you don't keep your promise, your Kwedit score would go down. You can pay off Kwedit in several ways, including by handing over cash in a 7-Eleven store.
IMRIS acquires Calgary company with next-generation surgical robot
WINNIPEG - Medical technology company IMRIS Inc. (TSX:IM) announced Thursday it is acquiring a private Calgary concern behind a next-generation surgical robot.
IMRIS will issue 1.6 million common shares to acquire NeuroArm Surgical Ltd., including its technology, patents and associated intellectual property. Based on IMRIS' share value, the deal would be worth about $10.7 million.
Manitoba Telecom Services Inc. Q4 profit down; will beef up business services
MONTREAL - Manitoba Telecom Services Inc. (TSX:MBT), after seeing its fourth-quarter earnings take a major hit, said Thursday it intends to make its MTS Allstream business unit more competitive with a targeted expansion of its fibre network and new wireless product offerings.
CEO Pierre Blouin said up to $15 million will be set aside to expand Allstream's IP fibre network in specific areas and in markets where it has a proven track record to make it more competitive.
House Democrats challenge Comcast, NBC Universal on risks of proposed deal
WASHINGTON - Congressional Democrats challenged executives from Comcast Corp. and NBC Universal on Thursday to show that the cable TV operator's plan to take control of the entertainment company won't hurt consumers and rivals.
In back-to-back hearings, members of House and Senate subcommittees expressed concern that the transaction could lead to such competitive harms as higher cable TV rates and fewer video programming choices.
CAE sees opportunities in U.S. defence budget; wins $58 million from Germany
MONTREAL - Flight simulator and training company CAE Inc. (TSX:CAE) sees opportunities to expand its growing military business in the Obama administration's massive defence budget.
"Overall, I see it as a positive for CAE," company president and CEO Marc Parent said in an interview Thursday.
BCE readying for more intense competition in its wireless business
MONTREAL - Bell's wireless division is ready for "straight on" competition in the changing cellphone business, says BCE Inc. CEO George Cope, after the big telecom company turned a $350-million profit in the fourth quarter.
Bell is reworking its brand in anticipation of new competitors just entering the mobile phone market and has launched an advanced wireless network and strengthened product distribution, Cope told analysts on Thursday.
Kodak expects improved earnings in 2010, but shares fall
Eastman Kodak Co. said Thursday it expects improved earnings this year, driven by its digital printer businesses and leaner costs from years of restructuring.
But investors appeared unimpressed with the forecasts, sending its shares sharply lower a day after they briefly touched a 52-week high.
Jonathan Schwartz bows out of Sun CEO post with a Twitter post: a farewell haiku
NEW YORK - In a tweeted goodbye, the chief executive of Sun Microsystems bowed out with a haiku.
Jonathan Schwartz's haiku on Twitter reads as follows: "Financial crisis/Stalled too many customers/CEO no more."
Sony Corp. profit surges more than sevenfold in October-December quarter
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Cisco sees 'dramatic' sales improvement in Q2 as economy recovers
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