Phonetime acquires Huntington Telecom, privately held U.S. long-distance company
MISSISSAUGA, Ont. - Phonetime Inc. (TSX:PHD), a provider of international long-distance telecommunication services, says it has signed a binding letter of intent to acquire Huntington Telecom, a privately held wholesaler of international long-distance minutes based in New York.
The pricetag of the cash and share deal, announced Wednesday, was not revealed.
Chip maker Intel lowers fourth-quarter revenue outlook again
SANTA CLARA, Calif. - Intel says it expects fourth-quarter revenue to fall 23 per cent from the same period a year earlier, missing its previous outlook because of ongoing weak demand and inventory reductions by its PC maker customers.
The Santa Clara-based chip maker projects quarterly revenue of US$8.2 billion, below the $8.74 billion forecast by analysts polled by Thomson Reuters.
Luxell Technology's board recommends accepting takeover bid from CEO's firm
TORONTO - Flat-pannel display maker Luxell Technologies Inc. (TSX:LUX) said Wednesday its board of directors has recommended that shareholders approve a $13.2 million-dollar deal that would see the Toronto-based company acquired by a firm controlled by its chief executive officer.
Luxell said the board believes the purchase by Lux Acquisition Corp. is in the best interest of shareholders and received unanimous approval.
Satyam Computer chairman quits after admitting books were doctored for years
NEW DELHI - The chairman of India's Satyam Computer Services Ltd. quit Wednesday after admitting the company's profits had been doctored for several years, shaking faith in the country's corporate giants as shares of the software services provider plunged nearly 80 per cent.
The company's balance sheet - riddled with "fictitious" assets and "non existent" cash - contained a US$1 billion hole that could no longer be concealed after a deal intended to save the struggling company was scuppered, Chairman B. Ramalinga Raju said in a letter to the board.
Three Chinese wireless providers receive 3g mobile phone licenses
BEIJING - China assigned third-generation mobile phone licenses Wednesday to three carriers in a long-awaited step that is expected to prompt US$41 billion in spending on new equipment.
Licenses were granted to China Mobile Ltd., China Unicom Ltd. and China Telecom Corp., the Ministry of Industry and Information Technology said. Third-generation, or 3G, technology supports Web surfing, wireless video and other services and the start of service is expected to spur new revenue growth.
Tiny science makes socks that don't smell and windows that clean themselves
They're tinier than ants in your pants, smaller than specks of dirt on your living-room window.
And with amazing powers once thought possible only in the space-age world of the Jetsons, particles created through the magic of nanotechnology are making our pants resist stains and wrinkles and helping windows in our homes miraculously clean themselves.
Rogers says iPhone sales slowed in fourth quarter as economy tightens
TORONTO - Rogers Communications Inc. (TSX:RCI) says sales of Apple iPhones slowed during the fourth quarter to about half of what they had been in the summer, when they were new to the Canadian market.
About 130,000 new iPhone accounts were created during the quarter and 40 per cent of those were new subscribers, Rogers said Tuesday.
Luxell's Q1 revenues drop as company trims operating loss to penny per share
TORONTO - Flat-panel display maker Luxell Technologies Inc. (TSX:LUX) said Tuesday a slowdown of sales has led to a sharp drop in revenue during the first quarter of 2009 even as the Toronto-based company trimmed its net operating loss.
Luxell reported a net operating loss of $868,337, or a penny per share, for the quarter ending Nov. 30, 2008. The company said the result is slightly lower than the loss of $889,523, or two cents a share, reported during the same quarter last year
Japan's Sanyo to cut 1,000 workers, media report suggests
TOKYO - Sanyo Electric Corp. is considering cutting up to 1,000 domestic workers in the next few months as it scales back unprofitable businesses ahead of an expected buyout by Panasonic Corp., a press report said Tuesday.
Sanyo may cut 500 regular workers from its workforce of 20,000 in Japan by the end of the fiscal year in March, the Nikkei business newspaper said. Another 500 contract and temporary workers could also be cut.
Nanotechnology: the science of tiny raises big hopes and also big fears
EDMONTON - It's the speck of dirt on the foot of a flea, and within it may be locked the Utopian dreams of a great beginning or the repressed fears of apocalyptic end times.
Nanotechnology - the super science of the modern age - is rocketing under the radar to transform how we live, work and play. It manipulates matter so small the naked eye can't see it and the mind's eye can't comprehend.
A timeline of developments that have contributed to the science of nanotechnology
EDMONTON - A timeline of developments that have contributed to the science of nanotechnology:
30 BC-640 AD: Ancient Romans create drinking cups that change colour under different lighting because the glass contains nanoparticles of gold and silver. The colour change suggests nanoparticles behave differently than their macro counterparts, but it is a discovery that wouldn't be recognized for about 2,000 years.
Eight high-tech companies receive up to $500K each from Ont. government
TORONTO - Eight high-tech companies will receive up to $500,000 each from the Ontario government to speed their products to market.
The firms will receive the money under the province's Investment Accelerator Fund, which was introduced in 2006.
Apple founder Steve Jobs has hormone imbalance, will remain chief executive
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Chip maker Infineon seeks capital increase, shares soar
MUNICH, Germany - Semiconductor maker Infineon Technologies AG said Monday it will seek shareholders' permission to raise as much as 450 million euros (US$625 million) in capital by issuing new shares - a move that caused its stock to surge.
Neubiberg-based Infineon said it would ask shareholders to authorize the plan at a Feb. 12 meeting as a "precautionary measure in order to safeguard" its equity amid the global economic crisis.
China targets Google, other search engines in crackdown on pornography
BEIJING - China launched a major crackdown on Internet pornography Monday targeting popular online portals and major search engines such as Google.
Seven government agencies will work together on the campaign to "purify the Internet's cultural environment and protect the healthy development of minors," said a statement by the information office of the State Council, China's cabinet.
Research in Motion extends expiry date on Certicom takeover bid
WATERLOO, Ont. - Technology heavyweight Research in Motion Ltd. (TSX:RIM; NASDAQ:RIMM) said Wednesday it was extending the expiry date on its offer to buy the Toronto-based Certicom Corp. (TSX:CIC) by 12 days.
Rim said the hostile bid, valued at $66 million or $1.50 per share, is now set to expire Jan. 27, 2009, rather than the original Jan. 15 closing date.
Israel uses YouTube to explain its Gaza offensive to the world
JERUSALEM - Israel's military is using YouTube to explain its bruising air offensive against the Gaza Strip to the world.
The military has opened a YouTube channel with footage it says was taken during the assault that began five days ago.
Cantronic reports third-quarter loss of $1.18M after sales drop 24 per cent
VANCOUVER, B.C. - Cantronic Systems Inc. (TSXV:CTS), a Vancouver-based surveillance technology firm, said it lost $1.18 million in the third quarter after sales dropped 24 per cent.
The company said the loss amounted to 1.4 cents per share in the quarter ended Oct. 31, compared to a profit of $99,000 or 0.2 cents for the same quarter last year.
Telecom giants Bell, Rogers both face a year of change in 2009
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Constellation says offer to buy Gladstone has lapsed
TORONTO - Constellation Software Inc. (TSX:CSU) has let its $18-million offer to buy the remaining shares of U.K.-based Gladstone PLC lapse.
Toronto-based Constellation said it did not meet the condition of the offer made in October to buy 50 per cent of Gladstone shares.