Max Levchin, co-founder of online payment giant PayPal, launched a rival business on Tuesday called Affirm that will compete in the crowded but fast-growing mobile payments business.
Affirm's technology helps shoppers complete online purchases more quickly and easily when they are using smart phones and other mobile devices, according to the firm's website.
Security software maker Palo Alto Networks reported second-quarter revenue and earnings per share that beat expectations amid strong demand for products that offer protection from cyberattacks.
Revenue in its second quarter, that ended January 31, rose 70 percent to $96.5 million compared with a year earlier, the company said on Thursday.
Non-GAAP earnings were $3.9 million, or 5 cents a share.
Analysts had expected revenue of $93.3 million and earnings per share of 4 cents, according to Thomson Reuters I/B/E/S.
Shares of Leap Wireless International Inc fell 3 percent on Thursday after the company said it may be able to sell only half the iPhones it has committed to buying from Apple Inc, potentially setting it back by $450 million over three years.
Leap (San Diego, USA), a provider of wireless services to cost-conscious customers, did not sell as many iPhones as it had hoped in the fourth quarter. It said that overall customer additions were hurt by general softness in the prepaid sector and phone prices were higher than many consumers could pay.
Wireless service provider Clearwire Corp said on Wednesday it would draw on $80 million in financing from Sprint Nextel Corp, which is seeking to buy it, but vowed to continue talks with rival bidder Dish Network Corp.
Shares of Clearwire (Bellevue, USA) fell 3 cents to $3.17 after the decision, which could end Dish (Meridian, USA) Chairman Charlie Ergen's effort to buy Clearwire. But the stock was still above Sprint's offer of $2.97 per share, showing that investors still held out hope for a higher valuation.
Juniper Networks Inc is reviewing its enterprise-focused networking business after talks fell through late last year to sell assets, including security unit NetScreen Technologies, several sources close to the matter told Reuters.
German telecoms incumbent Deutsche Telekom and IT giant IBM are to combine their M2M expertise with the aim of creating more sophisticated smart-city services.
The two companies say they want to help cities make “smarter use of heir services through intelligent data capture and analysis”.
Their technology could be used to support a number of city services, they say, including intelligent traffic management, route optimization, bus or train arrival prediction and parking space management.
Streaming music service Spotify has partnered with Ford Motor Co
Owners of Ford (Dearborn, USA) models with SYNC AppLink can access Spotify's catalog of more than 20 million songs through voice activation using its smartphone app.
The deal, announced by both companies on Monday, is Spotify's first collaboration with an automaker.
PayPal launched a European version of its PayPal Here mobile payments service for small merchants on Thursday as the online payments division of eBay Inc steps up competition with rivals, including Square Inc.
PayPal (San Jose, USA) unveiled a new device, about the size of a smartphone, that allows small merchants to accept credit and debit cards under a more-stringent and complex system in Europe known as Chip and PIN.
The gadget connects to a new PayPal app that merchants can run on Apple Inc (Cupertino, USA) iPhones and Android-based smartphones.
Verizon Wireless expects to sign its first international roaming agreement later this year for customers of its fastest wireless service who travel overseas, according to a top executive for the No. 1 U.S. mobile provider.
While Verizon Wireless (New York, USA) has 200 partnerships with overseas operators for its older, third-generation mobile service, it has not yet been able to set up agreements for its fourth-generation Long Term Evolution (LTE) data service, which was first offered in the United States in late 2010.
British mobile operator Vodafone said it did not need to sell part of its stake in its highly profitable Verizon Wireless joint venture in the United States to bolster its business in Europe.
Chief executive Vittorio Colao told reporters on Monday Vodafone (Newbury, UK) had a healthy balance sheet and could invest when it needed to, adding it could step up its range of services without having to make acquisitions.