News highlights for 3 May
REUTERS/Brendan McDermid
Fitbit sprints past its revenue forecast, shares rise
(Reuters) – Wearable device maker Fitbit Inc reported quarterly revenue above its own forecast, and said launches planned for this year were on track, sending the company’s shares up 7.2 percent in after-market trading on Wednesday. Read more…
Imagination Technologies heads into dispute resolution process with Apple
LONDON (Reuters) – Imagination Technologies said it had started a “dispute resolution procedure” with Apple, its biggest customer, after failing to resolve a standoff over licensing between the two companies. Read more…
Apple planning advanced manufacturing fund, $1 billion on the table
SAN FRANCISCO (Reuters) – Apple Inc plans to create a $1 billion fund to invest in U.S. companies that perform advanced manufacturing, Chief Executive Officer Tim Cook said on Wednesday, the iPhone maker’s latest effort to show how it is creating U.S. jobs. Read more…
In China, games not phones are driving growth for Apple
BEIJING (Reuters) – Apple has a new China growth driver: animated dragons and warring royals. As sales of its iPhones slip in a fiercely competitive market, the US company is seeing stronger growth in its services business – from lucrative app sales to iTunes and digital payments. Read more…
Facebook to hire 3,000 humans in fight against illegal content
SAN FRANCISCO (Reuters) – Facebook Inc will hire 3,000 more people over the next year to speed up the removal of videos showing murder, suicide and other violent acts, in its most dramatic move yet to combat the biggest threat to its valuable public image. Read more…
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