HTC invests $34.4 million in US-based enterprise platform firm

Reuters

Taiwanese smartphone maker HTC Corp said it will buy a 17.1 percent stake in a U.S. next-generation enterprise platform company for $35.4 million in order to enhance service offerings to its mobile enterprise customers.

"The investment will bring social, mobile, and cloud capabilities to HTC's portfolio of service offerings to its mobile enterprise customers," HTC said in a statement on Monday.

Cisco still pessimistic on Europe, raises dividend

Reuters

Cisco Systems Inc offered little hope that dire economic conditions in Europe would come to an end any time soon but pleased investors with a 75 percent dividend hike as the company posted quarterly results that beat estimates.

The world's largest network equipment maker had spooked investors three months ago, when Chief Executive John Chambers cautioned that macroeconomic conditions in Europe could hurt technology spending but now analysts expect Chambers to remain cautious.

Regulators OK T-Mobile testing of shared use of airwaves

Reuters

U.S. communications regulators will allow T-Mobile USA to test the impact of commercial wireless broadband on a highly sought after swatch of airwaves currently used for government operations, the company said on Wednesday.

Testing by T-Mobile, the U.S. unit of Deutsche Telekom AG
, would gauge potential opportunities and challenges for wireless carriers looking to deploy next generation 4G wireless services on the 1755-1850 megahertz band, while sharing the airwaves with existing government users.

LightSquared investigation deadline extended

Reuters

U.S. Bankruptcy Court Judge Shelley C. Chapman this afternoon extended a critical document discovery deadline in the LightSquared bankruptcy proceedings.

The deadline was extended to September 28 from September 11 in U.S. bankruptcy court, effectively allowing the parties involved more time.

A group of lenders holding over $1.08 billion of secured debt at LightSquared LP, the company's main operating subsidiary, seeks to investigate the propriety of a $279 million loan extended to the holding company for LightSquared last July.

Big retailers to take to mobile payments: WSJ

Reuters

Big retailers such as Wal-Mart Stores, Target Corp and Japan's 7-Eleven are planning to develop a mobile payment network, the Wall Street Journal reported, citing people involved in the initiative.

The Merchant Customers Exchange (MCX) is an initiative taken by these retailers to match similar services from Google, which began operating it last year on its Android devices, the WSJ said.

It was unclear how much each merchant would contribute to the network's development, the paper said.

Mitsui announces $15 million investment in Viridity

Japanese IT and engineering conglomerate Mitsui has announced plans to invest $15 million in Viridity Energy (Philadelphia, USA), an energy-demand specialist.

The investment is pending approval by the US Federal Energy Regulatory Commission, but it would give Mitsui an equity stake in Viridity, of an undisclosed amount, and a position on Viridity’s board.

Harman agrees to buy India's Interchain Solution

US-based Harman has entered into an agreement to buy Interchain Solution, an Indian company that specializes in telematics, fleet management, in-vehicle infotainment and location-based services.

The deal is subject to “customary closing conditions” but Harman expects it to close in late August.

Harman sees the acquisition as a way to expand its presence in the large Indian market and augment its own automotive infotainment and telematics offerings.

Massachusetts smart grid pilot gets DPU go-ahead

America’s Department of Public Utilities (DPU) has approved a pilot project by National Grid to install smart meters at the premises of 15,000 customers in Worcester, Massachusetts.

The customer sample represents about 1.2% of National Grid’s electricity customers and will allow the utility to see how a smart grid could help to reduce outages and improve operational efficiency over a two-year period.

US wireless subscriber growth declines sharply

America’s mobile-phone market is showing signs of maturity as operators focus on raising revenue generated by existing customers.

According to a new report from Dow Jones Newswires, the four biggest mobile-phone operators in the US signed up just 405,000 contract customers in the second quarter of the year, less than a half the number they acquired during the same period of 2011.

With penetration now topping 100%, operators are finding it harder than ever to attract new business.

Google to cut 4,000 Motorola Mobility jobs, take $275 million charge

Reuters

Motorola Mobility, which was bought by Google Inc for $12.5 billion, will cut 20 percent of its workforce and shut nearly a third of its offices worldwide, Google said on Monday.

"These changes are designed to return Motorola's mobile devices unit to profitability, after it lost money in fourteen of the last sixteen quarters," Google said in a filing with the U.S. Securities and Exchange Commission.

"While lower expenses are likely to lag the immediate negative impact to revenue, Google sees these actions as a key step for Motorola to achieve sustainable profitability."

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