U.S. SEC releases cyber security examination blueprint
By Sarah N. Lynch WASHINGTON (Reuters) - U.S. securities regulators have unveiled a road map that lays out how they plan to make sure Wall Street firms are prepared to detect and prevent cyber security attacks. The SEC also plans examinations of more than 50 firms that will focus on cyber security-specific issues. The document's release comes several months after Jane Jarcho, an associate director in the SEC's investment adviser examination program, announced in a speech the agency planned to scrutinize whether firms have policies to prevent cyber attacks. The SEC subsequently followed up with a March 26 roundtable where experts debated how public companies, brokerages, asset managers and exchanges can protect themselves from cyber threats, and what role the U.S. government should play to ensure such attacks are adequately disclosed.

Google first-quarter revenue misses Wall Street targets

Photo illustration of Google logo is reflected on the screen of a Samsung Galaxy S4 smartphoneBy Alexei Oreskovic SAN FRANCISCO (Reuters) - Google Inc's first-quarter revenue fell short of Wall Street targets and margins narrowed as the price of its ads continued to decline, pushing its shares sharply lower. Shares of Google were down 5.7 percent at $525 in after-hours trading on Wednesday. The number of "paid clicks" by consumers on Google's ads increased by 26 percent in the first quarter, disappointing some analysts that had hoped for stronger volume growth. "It's an average quarter from a great company," said BGC Partners analyst Colin Gillis.



Japanese Internet firms offer something new: high returns

Pedestrians look at an electronic board showing stock prices outside a brokerage in TokyoBy Ayai Tomisawa TOKYO (Reuters) - Some Japanese Internet companies are getting a boost from foreign investors as Prime Minister Shinzo Abe pushes for an elusive strength his country's firms are not known for - high returns. After a slow start, the index is attracting attention after Japan's Government Pension Investment Fund, the world's largest pension fund, adopted the JPX-400 as a benchmark for some of its passive stock investments.



China e-commerce giant Alibaba seen filing for U.S. IPO next week: sources

File photo of an employee walking past a logo of Alibaba Group at its headquarters on the outskirts of HangzhouHONG KONG (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd. is expected to file the prospectus for its U.S. initial public offering next week, sources said on Wednesday, moving closer to what could be the biggest-ever listing by a technology firm. Alibaba's documents could be filed as soon as Monday, added the sources, who couldn't be named because the plans aren't yet public. The IPO could be worth more than $16 billion, surpassing the previous record for a technology share sale set by Facebook Inc in 2012, Reuters previously reported. ...



China's Baidu launches mobile payment app

People talk in front of a Baidu's company logo at Baidu's headquarters in BeijingSHANGHAI (Reuters) - Baidu Inc, China's leading internet search provider, has launched a mobile payment and wealth management platform after its main domestic rivals launched similar products. Alibaba Group Holding Ltd, through its mobile payment arm, Alipay, launched Alipay Wallet in January 2013, which included a money-market investment product, Yu'e Bao, marketed as a high-yielding substitute for traditional bank deposits. Tencent followed in August with WeChat Payment, a payment and investment platform linked to its popular WeChat mobile messaging app. ...



Yahoo sees flat second quarter as revenue growth remains elusive
SAN FRANCISCO (Reuters) - Yahoo Inc on Tuesday forecast second-quarter revenue, excluding traffic acquisition costs, of $1.06 billion to $1.1 billion, in line with expectations for about $1.08 billion. That is roughly flat from the $1.07 billion in revenue that Yahoo posted in the same quarter of 2013. (Reporting by Alexei Oreskovic. Editing by Andre Grenon)

Twitter buys social data provider Gnip, stock soars

A Twitter logo made from Californian license plates is shown at the company's headquarters in San FranciscoTwitter Inc said on Tuesday it bought social data provider Gnip for an undisclosed amount, signaling that it would take on a new role of packaging and selling data, a service in demand by business and government. The social media company said separately that it hired a Google executive to lead its consumer product development, filling a position that had been vacant since January. Investors reacted positively to the news, sending Twitter shares up more than 11 percent, the biggest gain since the day it went public in November. Twitter said in a blog post that the Gnip deal allowed it to burrow more deeply into the 500 million tweets sent daily on its network.



Reddit boosts news capabilities in social media turf grab

Reddit mascots are displayed at the company's headquarters in San FranciscoBy Jennifer Saba NEW YORK (Reuters) - Reddit, a website with a retro-'90s look and space-alien mascot that tracks everything from online news to celebrity Q&As, is going after more eyeballs, and advertising, by allowing members of its passionate community to post their own news more quickly and easily. Reddit, majority owned by Conde Nast parent Advanced Publications, last month rolled out a new feature that lets users of the nine-year-old site post live updates, allowing them to report in real time. The live updates allow selected users, dubbed "reporters" by Reddit, to instantly stream unlimited posts during the course of an event such as the conflict in the Ukraine, an earthquake in Los Angeles, or a game played in real time, without having to refresh the page. "Reddit members are doing amazing things with very minimal tools and were hitting some barriers," said Erik Martin, general manager.



Google to buy drone-maker Titan Aerospace
By Alexei Oreskovic (Reuters) - Google Inc has acquired solar-powered drone maker Titan Aerospace as the Web search giant ramps up plans to deliver wireless Internet access to remote parts of the world. Titan Chief Executive Vern Raburn declined to provide information on the price of the deal, which he said closed on Monday morning. The 20-person company will remain in New Mexico for the foreseeable future, Raburn said, with all employees joining Google. The deal could further Google's efforts to deliver Internet access to remote regions of the world. ...

Carrefour to revive Brazil e-commerce business: CEO

The logo of Carrefour is pictured during the company's 2013 annual results presentation in ParisBy Dominique Vidalon PARIS (Reuters) - Carrefour, the world's second-largest retailer, plans to revive its e-commerce operations in Brazil this year after shutting the business down in 2012 as part of a broader group restructuring. Chief Executive Georges Plassat revealed the plan at the annual shareholders meeting on Tuesday. He also told investors that Carrefour wanted to boost its local profile in Brazil, its second-largest market after France and an emerging country it has earmarked for expansion. ...



Infosys says staff exodus a worry after fourth quarter profits beat estimates

n Infosys logo is pictured on one of the company's office buildings at their IT campus at Electronics City in BangaloreBy Soham Chatterjee and Nivedita Bhattacharjee BANGALORE/MUMBAI (Reuters) - Staff left India's second largest IT services exporter Infosys Ltd at an unprecedented pace in the last quarter, worrying its management and raising investors' concerns about its ability to win lucrative contracts even as it posted a higher-than-expected net profit for the period. Infosys, however, appears to be having a particularly difficult time with staff as it undergoes a restructuring aimed at lifting growth to match rivals including sector leader Tata Consultancy Services Ltd and third-ranked Wipro Ltd. The attrition rate, currently bigger than its two rivals, is the highest ever seen and "more than we are comfortable with", Chief Executive S.D. Shibulal told a briefing after the company posted a 25 percent increase its net profit for the fourth quarter that ended March 31. The company's annualized staff attrition rate stood at 18.7 percent at the end of March, the company said, up from 16.3 percent at the end of the same quarter last year and in line with the rate of staff exits in the previous quarter.



Turkey says Twitter agrees to close some accounts, no tax deal yet

Photo illustration of Twitter logo on an iPad display next to a Turkish flagBy Orhan Coskun ISTANBUL (Reuters) - Twitter will close some accounts in Turkey but will not for now set up an office there as the government wants, a senior Turkish official said late on Monday after talks over a dispute which saw the government ban the site for two weeks. Prime Minister Tayyip Erdogan's government blocked Twitter and YouTube in March, drawing international condemnation, after audio recordings, purportedly showing corruption in his inner circle, were leaked on their sites. The Twitter block was lifted 11 days ago after the constitutional court ruled that it breached freedom of expression, a decision Erdogan has since said was wrong and should be overturned. YouTube remains blocked in Turkey.



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