TI sees third-quarter revenue hurt by weak orders

Reuters

Texas Instruments Inc's second-quarter profit beat Wall Street expectations but the company warned that its third-quarter revenue would be weaker than usual for this time of year as customers are cautious due to global economic uncertainties.

Shares of TI, which makes chips for a wide range of products such as cellphones and industrial equipment, fell 1 percent in extended trade after it said Monday that orders weakened in June and that its backlog for shipments due in September is also lighter than expected.

Cisco to cut about 1,300 jobs

Reuters

Network equipment maker Cisco Systems said on Monday that it plans to cut about 1,300 jobs as part of ongoing efforts to restructure the company.

"We are performing a focused set of limited restructurings that will collectively impact approximately 2 percent of our global employee population," the company said in an emailed statement.

These actions are part of a continuous process to simplify the company and assess the economic environment in certain parts of the world, it said.

VC funding for smart grids "extremely weak"

Venture capital (VC) funding for smart grids has remained “extremely weak” for the past three quarters, according to new data from Mercom Capital, a market-research company.

In its latest quarterly update, Mercom reveals that VC funding was only $66 million in the second quarter of this year, covering just nine deals. In the same period of 2011, VCs invested as much as $112 million in 16 deals, but funding dropped to $97 million the following quarter and to just $66 million in the final quarter of the year.

Web-connected industrial controls stoke security fears

Reuters

Until a few days ago, anyone who had done a bit of digging into the security of industrial control systems could have reached into the website of a Kansas agricultural concern and turned off all its windmills.

The owner had left the system connected to the open Internet without any password protections, despite warnings from Canadian manufacturer Endurance Wind Power. A cyber researcher found the vulnerability along with thousands of other exposed industrial controls, many of them in critical facilities.

Sprint to offer auto insurers tracking technology

Reuters

U.S. wireless carrier Sprint said on Thursday it will move into the hot market for tracking technology that lets auto insurers monitor how, where and when their customers drive.

Sprint said its new Integrated Insurance Solutions unit would let companies offer what are known as "usage-based insurance" programs.

Such programs, most notably Progressive Corp's "Snapshot", track variables such as driver speed, location and braking via a diagnostic device plugged into the car. Insurers analyze the data and use it to offer the best drivers discounts.

ICT standards bodies herald launch of oneM2M

Seven of the world’s major ICT standards bodies have come together for the launch of a new organization designed to accelerate the smooth deployment of M2M services.

oneM2M, as the organization is called, has been set up to develop the technical specifications for future M2M services, allowing the industry to benefit from greater interoperability and economies of scale.

SecureState releases smart-meter hacking tool, claims world first

SecureState, a management consulting firm specializing in information security, has released what it claims is the world’s first tool that allows users to assess the security of smart utility meters over an optical interface.

SecureState (Cleveland, USA) had previously sent a “lite” version of the tool, branded Termineter, to a select group of registrants, but the full open-source code allows individuals to manipulate and test the security of smart meters with full functionality.

Teologis takes over Navtrak

Navtrak (Salisbury, USA), which supplies GPS technology for fleet-management services, has been acquired by Software-as-a-Services (SaaS) company Telogis (Aliso Viejo, USA).

Telogis says the takeover will strengthen its position in the market for location-based services.

Report: M2M market poised for biggest transformation ever

The M2M market is on the brink of the biggest transformation in its 10-year history, according to a new report from market-research company Maravedis-Rethink.

AEP Texas expands smart meter rollout

Utility company AEP Texas has signed a new agreement with Landis+Gyr, owned by Toshiba and the Innovation Network Corporation of Japan, for the installation of smart meters across its entire service territory.

AEP had previously contracted Landis+Gyr to provide 720,000 of its “Gridstream” meters, 500,000 of which have now been deployed. Under the new deal, Landis+Gyr will provide an additional 280,000 meters to the rural areas of AEP’s service territory not covered as part of the original agreement.

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