News highlights for July 28
Oracle’s Executive Chairman of the Board and Chief Technology Officer Larry Ellison. REUTERS/Robert Galbraith
Oracle to gain cloud clout with NetSuite deal; Ellison profits
Oracle Corp said on Thursday it would buy NetSuite Inc for about $9.3 billion, a deal that gives it a bigger share in the fast-growing cloud computing business and also means a big payday for billionaire Larry Ellison. In addition to being Oracle’s executive chairman, entities Ellison beneficially owns hold about 40 percent of NetSuite’s shares as of February, according to a regulatory filing. These would be worth about $3.5 billion if the deal closes. Read more…
Alphabet posts strong revenue on video market, stock surges
Alphabet Inc, Google’s parent, on Thursday revealed that efforts to push its vast advertising business toward mobile is paying off as second quarter earnings handily beat Wall Street’s expectations. The results put to rest lingering concerns about how the rise of mobile might impact Google, which has a strong mobile presence with its Android smartphone operating system but has long relied on desktop search traffic to power its profits. Read more…
Vivendi considers suing Mediaset for defamation
French media giant Vivendi is considering suing Mediaset for defamation after the Italian broadcaster denounced what it sees as an unacceptable u-turn on a deal regarding its pay-TV arm Premium.
Microsoft to cut 2,850 more jobs
Microsoft Corp said it would cut about 2,850 more jobs over the next 12 months, taking its total planned job cuts to up to 4,700, or about 4 percent of its workforce. The company said in May it would cut 1,850 jobs in its smartphone business, most of them in Finland. Microsoft bought Finland-based handset maker Nokia in 2014 in an ill-fated attempt to take on market leaders Apple Inc and Samsung Electronics Co Ltd.
Expedia revenue misses estimates, mulls listing for Trivago
Expedia Inc reported lower-than-expected quarterly revenue due to higher promotions for its member loyalty program and discounts to promote new hotel listings, sending the company’s shares down more than 6 percent in extended trading. Read more…
Expedia, which owns a majority stake in Trivago, and the founders of the travel website have agreed to explore the feasibility of taking the business public, Expedia said.
Technology alone may not close disparities in medical research
Internet technologies may help underserved populations participate in medical research studies, but relying on those technologies to get broader participation isn’t likely to work, a new study suggests. The study’s lead author told Reuters Health it’s important to get all groups of people represented in research, because medical recommendations are based on study results. Read more…
Sony logs 42 percent plunge in first quarter operating profit on quake damage
Japan’s Sony Corp said operating profit fell in its first quarter by 42 percent, less than analysts had estimated, as the electronics maker trimmed the impact of earthquake damage to one of its image sensor factories. Read more…
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