US-NET Summary

Reuters News
Posted: May 19, 2011 2:31 PM
US-NET Summary

Baidu, China sued in U.S. for Internet censorship

NEW YORK (Reuters) - Eight New York residents sued Baidu Inc and the Chinese government on Wednesday, accusing China's biggest search engine of conspiring with its rulers to censor pro-democracy speech. The eight pro-democracy activists claim violations of the U.S. Constitution and, according to the plaintiffs' lawyer, the suit is the first of its type. In an unorthodox move it names not only a company but also the Chinese government as defendants.

Online ad growth sparks rush for Yandex IPO

MOSCOW (Reuters) - Russia's Yandex is set to complete the biggest internet IPO since Google, as investors wary of much-hyped social networks look instead for exposure to the fast-growing online advertising market. Yandex has 65 percent of Russia's online search market, pushing world leader Google into a distant second place in the emerging market with just over 20 percent. Its order book -- officially due to close on Monday -- is already oversubscribed, sources say.

Analysis: Uphill fight for Baidu, China censorship lawsuit

NEW YORK (Reuters) - Pro-democracy activists will face an uphill fight to convince a U.S. court that Baidu Inc and China censored them over the Internet and should be punished. Eight New York residents accused Baidu and China's ruling Communist Party of conspiring to suppress their political speech, in violation of the First Amendment to the U.S. Constitution and various civil and human rights laws.

Sony finds another security flaw, shutters site

NEW YORK (Reuters) - Sony Corp has shut down a website set up to help millions of users affected by April's massive data breach after finding a "security hole". The site had been designed to help 77 million users of its PlayStation Network reset their passwords after finding the security weakness.

LinkedIn share price more than doubles in NYSE debut

NEW YORK (Reuters) - LinkedIn Corp's shares more than doubled in their public trading debut on Thursday, evoking memories of the investor love affair with Internet stocks during the dot-com boom of the late 1990s. Shares of the online professional social networking company soared as much as 171 percent, or $76.97, to $121.97 in afternoon trading on the New York Stock Exchange -- far exceeding the $45 initial public offering price.

Amazon says e-books now outselling paper books

NEW YORK (Reuters) - Inc said on Thursday that it now sells more digital e-books than paper books and that its recently introduced lower-priced Kindle e-reader is outselling other versions of the device. Amazon, which does not divulge exact sales figures for the Kindle or e-books, said that for every 100 print books it has sold since April 1, it has sold 105 e-books. That includes both paperback and hardcover books, but excludes free downloads.

China piracy cost U.S. firms $48 billion in 2009: report

BIG SKY, Montana (Reuters) - Chinese piracy and counterfeiting of U.S. software and a wide range of other intellectual property cost American businesses an estimated $48 billion in 2009, the U.S. International Trade Commission said in a report released on Wednesday. It also concluded 2.1 million jobs could be created in the United States if China complied with its current international obligations to protect and enforce intellectual property rights. The most direct jobs impact would come in high-tech and other innovative industries.

Mobile hacking sets off security gold rush

PARIS (Reuters) - Hackers are increasingly aiming attacks at smartphones, touching off a race among software giants, startups and telecom operators seeking to cash in on ways to help consumers protect themselves. As the previously fragmented smartphone market coalesces around big operating systems like Apple's iPhone and Google's Android, it has become a more attractive target for hackers seeking to maximize damage with one hit.

New risks, treatment for problem gamblers: report

VANCOUVER (Reuters) - The growth of on-line casinos offers new temptations for problem gamblers, but the Internet should also provide avenues to treat them, according to a report in a leading medical journal on Wednesday. The report, published in The Lancet, found that researchers have made progress recognizing and understanding gambling disorders but need to keep pace in the future with the growing access to gaming opportunities.

Angry Birds, the next Mickey Mouse?

PARIS (Reuters) - Mikael Hed is unrepentant about the 200 million minutes per day that people around the world fritter away playing Angry Birds, the iPhone game created by the company he heads. "It's great. Think of all the other stuff they could be doing that's so much more boring," said the chief executive of Rovio Mobile, a Finnish start-up almost unheard of before it unleashed the addictive game on an unsuspecting world in 2009.