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Tech`s news

(Reuters) - Facebook Inc said the U.S. Securities and Exchange Commission dropped its probe into the social networking company over events surrounding its controversial initial public offering. In its quarterly report filed on Thursday, Facebook said the regulator in May "notified us that it had terminated its inquiry and that no enforcement action had been recommended by the SEC." Facebook shares began trading on May 18, 2012, but soon fell below their $38 per share offering price and had lost more than half their value by the middle of August, angering investors. Investors also complained they were not told just prior to the IPO that analysts at Facebook's investment banks were cutting their forecasts after learning of the company's internal projections for advertising revenue. The end of the SEC probe does not affect shareholder litigation against Facebook, Chief Executive Mark Zuckerberg and many banks over the Menlo Park, California-based company's IPO. more...


By Deepa Seetharaman SAN FRANCISCO (Reuters) - Amazon.com Inc's message to investors has always been clear: trust in founder and CEO Jeff Bezos. Some on Wall Street wonder if Amazon may have bitten off more than it can chew. After an unusually busy first half of the year that saw the online retailer spend on developing everything from mobile phones and Hollywood-style production to grocery deliveries, investors are ready to see it curtail its ambitions and start delivering sustainable profits. "It does get frustrating when they continue to spend quarter after quarter and they don't let the revenue flow through," said Michael Scanlon, who manages $3.5 billion at Manulife Asset Management and holds shares of Amazon. more...


By Euan Rocha and Alastair Sharp TORONTO (Reuters) - IBM Corp's recent move to partner with Apple Inc to sell iPhones and iPads loaded with corporate applications has excited investors in both companies, but two rivals say they are unperturbed for now. Top executives at Dell and BlackBerry Ltd scoffed at the threat posed by the alliance this week, arguing the tie-up is unlikely to derail the efforts of their own companies to re-invent themselves. I think it just made a good press release," John Swainson, who heads Dell's global software business, said in an interview with Reuters in Toronto on Thursday. PC maker Dell and smartphone maker BlackBerry are in the midst of reshaping their companies around software and services, as the needs of their big corporate clients morph. more...


By Leila Abboud and Julia Fioretti PARIS/BRUSSELS (Reuters) - European regulators have not yet decided whether to try to force search engines such as Google and Microsoft's Bing to scrub results globally when people invoke their "right to be forgotten" in the region. Isabelle Falque-Pierrotin - who heads France's privacy watchdog and the WP29 group of EU national data protection authorities - said in an interview on Friday that no consensus had yet been reached on what she called a "complicated issue". The European Union's top court ruled in May that search engines must take down certain results shown under a search of a person's name if the information was "inadequate, irrelevant or no longer relevant". Although the "right to be forgotten" existed as a concept in European law, the ruling marked the first time companies like Google have been asked to field such requests from the public. more...


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