BEIJING (Reuters) - China's Lenovo Group said first-quarter profit jumped 23 percent, beating estimates, as a surge in smartphone sales showed how quickly the world's biggest personal computer maker is transforming itself into a major player in mobile technology.
Beijing-based Lenovo said on Thursday net income climbed to $214 million in the three months through June from $174 million in the same period a year earlier, the opening quarter of its fiscal year. That was ahead of estimates of $202 million, according to a Thomson Reuters SmartEstimate poll of analysts.
(Reuters) - FleetCor Technologies Inc said it would buy payments processing company Comdata Inc from Ceridian LLC for $3.45 billion in its biggest deal as it looks to expand into the virtual payments market.
Comdata, which was acquired by payroll and employee benefits processing company Ceridian in 1995 for $900 million, provides fleet fuel cards for the trucking industry, payroll cards and gift cards among other services.
(Reuters) - Search engine Google Inc and five Asian telecom and communications companies have agreed to invest about $300 million to develop and operate a trans-Pacific cable network connecting the United States to Japan.
To be named "FASTER," the cable network will have an initial capacity of 60 terabits per second and will connect Los Angeles, Portland, San Francisco, Oregon and Seattle to Chikura and Shima in Japan.
(Reuters) - Mobile service provider NII Holdings Inc, reporting its ninth quarterly loss in a row, said on Monday it may have to file for bankruptcy after struggling to compete in Brazil and Mexico.
NII shares fell more than 50 percent in after-market trading to 30 U.S. cents, after ending regular trade at 66 cents on the Nasdaq.
A global tier 1 Service Provider (SP) was experiencing a common issue: its circuit inventory data was untrustworthy, so it could not rapidly isolate faults and lacked the granular network intelligence to build out capacity, when and where it was needed. The SP had tried the common solution of periodically purchasing costly blanket bandwidth upgrades but still encountered the symptoms.
WASHINGTON (Reuters) - The top U.S. communications regulator on Friday said he is asking all large U.S. wireless carriers to explain how they decide when to slow download speeds for some customers, after questioning Verizon Wireless about such a plan.
Verizon, the biggest U.S. carrier, said last month that the top 5 percent of high-speed data users on its older unlimited data plans might experience slower speeds starting in October.
MOSCOW (Reuters) - Russia further tightened its control of the Internet on Friday, requiring people using public Wifi hotspots provide identification, a policy that prompted anger from bloggers and confusion among telecom operators on how it would work.
The decree, signed by Prime Minister Dmitry Medvedev on July 31 but published online on Friday, also requires companies to declare who is using their web networks. The legislation caught many in the industry by surprise and companies said it was not clear how it would be enforced.
TORONTO (Reuters) - BlackBerry Ltd said on Wednesday its Android and iOS device-management service has won a key security clearance from the U.S. Defense Information Systems Agency (DISA).
The company said the DISA clearance will allow its customers in various U.S. Department of Defense agencies to begin to use its BlackBerry Enterprise Service (BES) 10 system to manage and secure devices powered by Google Inc's Android operating system and Apple Inc's iOS software.
WASHINGTON (Reuters) - Sprint Corp's <S.N> newly appointed Chief Executive Marcelo Claure has so far had a Midas touch in the telecoms industry, turning Brightstar, a reseller of U.S. handsets to Latin America, into a distributor valued at $2.2 billion when it was sold to Japan's SoftBank <9984.T>.
But his talents will now be put to the test like never before as he must complete the No. 3 carrier's network upgrade while trying to retain customers, who are defecting in droves.
FRANKFURT (Reuters) - The European Central Bank (ECB) has no plans to end its business relations with U.S. telecoms firm Verizon Communications Inc, ECB President Mario Draghi said in response to a query from a member of the European parliament on Thursday.
The German government said in June it had canceled a contract with Verizon as part of an overhaul of its internal communications, prompted by revelations last year of U.S. government spying.
In the letter to Fabio De Masi, Draghi wrote that the ECB "takes the threat of economic espionage very seriously".