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Microsoft Corp appears to be the latest U.S. company targeted by China for anti-trust investigation after government officials paid sudden visits to the software firm's Chinese offices on Monday. Representatives from China's State Administration for Industry & Commerce (SAIC) made the visits to Microsoft offices in Beijing, Shanghai, Guangzhou and Chengdu, according to local media reports that were confirmed by Microsoft. A Microsoft spokeswoman said the company was "happy to answer the government's questions", but declined to give any further information. more...


By Reiji Murai TOKYO (Reuters) - Japan's Sony Corp is hammering out plans to rise from the ashes of nearly $10 billion lost in six years by building a future around its last consumer electronics blockbuster - the PlayStation. Sony plans to reposition the video console warhorse as a hub for a network of streamed services, according to three senior officials, offering social media, movies and music as well as games. The plans to coax more revenue from the PlayStation's network of users are being developed by a new breed of managers brought in by Chief Executive Kazuo Hirai. Analysts say if Sony gets it right, the game and network business could earn about $1 billion in the fiscal year from April 2016 - making it the most profitable part of the company bar a financial services unit. more...


By Yimou Lee HONG KONG (Reuters) - China's Huawei Technologies Co Ltd said smartphone shipments in the first half rose 62 percent year-on-year, as it targets the more expensive smartphone sector dominated by Samsung Electronics Co Ltd and Apple Inc. Shenzhen-based Huawei has shipped 34.27 million smartphones globally in the first six months ending June 30 - about 43 percent of its annual shipment target of 80 million, according to Reuters' calculations based on figures provided by Huawei. "We recorded faster growth in areas such as Middle East and Africa and Latin America, with 275 percent and 550 percent year-on-year growth in the second quarter, respectively," Shao Yang, vice president of marketing in the consumer business group, told Reuters in a written statement. "Based on the growth momentum at the moment, we are firmly moving toward our full-year target," Shao said, adding that smartphones are now accounting for 97 percent of Huawei's global phone shipments. more...


By Rodrigo Campos NEW YORK (Reuters) - Cynk Technologies, which was briefly worth billions of dollars last month, saw its shares fall below $1 on Monday, and traders say it is only a matter of time before the stock is once again worth next-to-nothing. Most traders interviewed said the stock is likely to keep falling until it is once again worth no more than a few cents. In addition, short sellers who had borrowed the stock were also buying it to close out positions, also elevating the price a bit, traders said. A trader at Canaccord, who would not identify himself, said any volume was attributable to short covering -- traders who are buying because they had borrowed stock to sell it on the expectation of a price drop. more...


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