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Tech`s news

The world's biggest technology companies have agreed to donate millions of dollars to set up a group that will fund improvements in open source programs like OpenSSL, the software whose "Heartbleed" bug has sent the computer industry into turmoil. Amazon.com Inc, Cisco Systems Inc, Facebook Inc, Google Inc, IBM, Intel Corp and Microsoft Corp are among a dozen companies that have agreed to be founders of the group, known as Core Infrastructure Initiative. It will support development of open source software that makes up critical parts of the world's technology infrastructure, but whose developers do not necessarily have adequate funding to support their work, said Jim Zemlin, executive director of the Linux Foundation. more...


(Reuters) - Fandango, a movie ticketing service owned by cable company Comcast Corp, is buying MovieClips from Zefr Inc to boost its film-related content. MovieClips, launched in 2009, licenses movie scenes from various studios, puts them up on YouTube and monetizes them with ads on the site. The MovieClips network consists of its website and 25 YouTube channels, with a catalog of 45,000 curated film clips and trailers. The deal will allow Fandango to monetize the clips MovieClips has licensed and direct fans to its own website. more...


Nokia said that due to an ongoing tax dispute its Indian mobile phone handset plant was unlikely to be included in a deal due to be concluded on Friday for the sale of its global handset business to Microsoft. Nokia will instead operate the factory as a contract manufacturing unit for Microsoft after the deal, a spokeswoman for the Finnish company's Indian unit said on Thursday. "It's highly unlikely that the plant will transfer, given that the (deal) closing with Microsoft is tomorrow," the spokeswoman said. "If the asset doesn't get transferred, we are entering into a service agreement with Microsoft." Nokia has yet to agree to conditions set by an Indian court, including payment of a guarantee for potential tax dues in a dispute with Indian authorities, before it transfers the plant to Microsoft. more...


NEW YORK (Reuters) - Verizon Communications Inc said on Thursday its quarterly revenue rose 4.8 percent after its acquisition of Vodafone's 45 percent share in their prior joint venture for $130 billion gave the company access to greater amounts of cash flow. The No. 1 U.S. mobile provider earned $5.98 billion, or $1.15 cents per share, in the first quarter, compared with $4.86 billion, or 68 cents per share, in the year-ago quarter. Revenue rose to $30.8 billion. (Reporting By Marina Lopes) more...


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