Investors Hangout Stock Message Boards Logo
  • Mailbox
  • Favorites
  • Boards
    • The Hangout
    • NASDAQ
    • NYSE
    • OTC Markets
    • All Boards
  • Whats Hot!
    • Recent Activity
    • Most Viewed Boards
    • Most Viewed Posts
    • Most Posted
    • Most Followed
    • Top Boards
    • Newest Boards
    • Newest Members
  • Blog
    • Recent Blog Posts
    • Recently Updated
    • News
    • Stocks
    • Crypto
    • Investing
    • Business
    • Markets
    • Economy
    • Real Estate
    • Personal Finance
  • Market Movers
  • Interactive Charts
  • Login - Join Now FREE!
  1. Home ›
  2. Stock Message Boards ›
  3. User Boards ›
  4. Coffee Shoppe Message Board

Newspapers Online. 12-16-2013 | ScienceTechn

Message Board Public Reply | Private Reply | Keep | Replies (0)                   Post New Msg
Edit Msg () | Previous | Next


Post# of 63854
Posted On: 12/16/2013 7:43:36 AM
Avatar
Posted By: PoemStone
Newspapers Online.


12-16-2013 |

Science&Technology
Samsung: Uneasy in the Lead

Politics
Officials Say U.S. May Never Know Extent of Snowden’s Leaks

Science&Technology
As Rover Lands, China Joins Moon Club

Browse our directory of newspapers from United States
12-16-2013 |

Politics
Ukraine protesters return en masse to central Kiev

General
World Cup abuse: Qatar report due

Politics
NSA considers Snowden amnesty

Browse our directory of newspapers from United Kingdom




























12-16-2013 Science&Technology

Google will not answer to British court over UK privacy claim

Google has been called "arrogant and immoral" for arguing that a privacy claim brought by internet users in the UK should not be heard by the British legal system.

The search giant will tell the high court on Monday that it should throw out claims that it secretly tracked the browsing habits of millions of iPhone users.


In the first group claim brought against Google in the UK, the internet firm has insisted that the lawsuit must be brought in California, where it is based, instead of a British courtroom.


Hundreds of internet users are preparing to sue Google if the test case gets the green light.


Google is accused by the claimants of secretly monitoring their behaviour by circumventing security settings on the iPhone, iPad and desktop versions of the Safari web browser.


Judith Vidal-Hall, one of the claimants suing Google, said: "Google is very much here in the UK. It has a UK specific site. It has staff here. It sells adverts here. It makes money here. It is ludicrous for it to claim that, despite all of this very commercial activity, it won't answer to our courts.


"If consumers are based in the UK and English laws are abused, the perpetrator must be held to account here, not in a jurisdiction that might suit them better. Google's approach that British consumers should travel all the way to California to seek redress for its wrongdoings is arrogant, immoral and a disgrace."


Google will argue on Monday that the case does not meet the standard required to be heard at the high court in London. Lawyers for the search firm are expected to tell the judge that a similar privacy claim was recently struck out in the US and that no European regulators are currently investigating this issue.


But lawyers for the claimants will argue that Google should answer to the British legal system for allegedly breaching the privacy of internet users on UK soil.


"British users have a right to privacy protected by English and European laws," said Dan Tench, a solicitor from the law firm Olswang, which represents the claimants.


"Google may weave complex legal arguments about why the case should not be heard here, but they have a legal and moral duty to users on this side of the Atlantic not to abuse their wishes. Google must be held to account here, even though it would prefer to ignore England."



A Google spokesman said: "A case almost identical to this one was dismissed in its entirety two months ago in the US. We're asking the court to re-examine whether this case meets the standards required in the UK for a case like this to go to trial."

Source: TheGuardian

Browse our directory of newspapers from United Kingdom



12-16-2013 Science&Technology

China's Jade Rabbit rover rolls on to Moon's surface

China's Jade Rabbit robot rover has driven off its landing module and on to the Moon's surface.

The robotic vehicle rolled down a ramp lowered by the lander and on to the volcanic plain known as Sinus Iridum.


Earlier on Saturday, the landing module containing the rover fired its thrusters to perform the first soft landing on the Moon since 1976.


The touchdown in the Moon's northern hemisphere marks the latest step in China's ambitious space programme.


The lander will operate there for a year, while the rover is expected to work for some three months.


The Chang'e-3 mission landed some 12 days after being launched atop a Chinese-developed Long March 3B rocket from Xichang in the country's south. The official Xinhua news service reported that the craft began its descent just after 1300 GMT (2100 Beijing time), touching down in Sinus Iridum (the Bay of Rainbows) 11 minutes later.


"I was lucky enough to see a prototype rover in Shanghai a few years ago - it's a wonderful technological achievement to have landed," Prof Andrew Coates, from UCL's Mullard Space Science Laboratory, told BBC News.


Chang'e-3 is the third unmanned rover mission to touch down on the lunar surface, and the first to go there in more than 40 years. The last was an 840kg (1,900lb) Soviet vehicle known as Lunokhod-2, which was kept warm by polonium-210.


But the six-wheeled Chinese vehicle carries a more sophisticated payload, including ground-penetrating radar which will gather measurements of the lunar soil and crust. The 120kg (260lb) Jade Rabbit rover can reportedly climb slopes of up to 30 degrees and travel at 200m (660ft) per hour.


Its name - chosen in an online poll of 3.4 million voters - derives from an ancient Chinese myth about a rabbit living on the moon as the pet of the lunar goddess Chang'e.


The rover and lander are powered by solar panels but some sources suggest they also carry radioisotope heating units (RHUs), containing plutonium-238 to keep them warm during the cold lunar night.


Reports suggest the lander and rover will photograph each other at some point on Sunday.


According to Chinese space scientists, the mission is designed to test new technologies, gather scientific data and build intellectual expertise. It will also scout valuable mineral resources that could one day be mined.


"China's lunar programme is an important component of mankind's activities to explore [the] peaceful use of space," Sun Huixian, a space engineer with the Chinese lunar programme, told Xinhua.



After this, a mission to bring samples of lunar soil back to Earth is planned for 2017. And this may set the stage for further robotic missions, and - perhaps - a crewed lunar mission in the 2020s.

Read full story

Source: BBC

Browse our directory of newspapers from China



12-16-2013 Politics

Kerry says North Korea's leader reckless, ruthless

U.S. Secretary of State John Kerry described North Korea's Kim Jong Un as reckless and insecure after the execution of the leader's powerful uncle, and said Kim's actions underscored a need for a unified stand against Pyongyang's nuclear program.

The execution of Jan Song Thaek, considered the second most powerful man in the secretive country, showed why China, United States and other countries must work together to limit North Korea's nuclear weapons development, Kerry said in the interview on ABC's "This Week" program aired on Sunday.


North Korean state media on Friday reported the execution of Jang. North Korea said earlier it had stripped Jang of his power and positions and accused him of criminal acts including mismanagement of the state financial system, womanizing and alcohol abuse.


North Korean politics are virtually impenetrable from outside and Jang also could have been purged over a falling out with Kim or other personal reasons.


"It tells us a lot about, first of all, how ruthless and reckless he is," Kerry said of Kim. "And it also tells us a lot about how insecure he is, to a certain degree.


"The insights that we have tell us that he is spontaneous, erratic, still worried about his place in the power structure, and maneuvering to eliminate any potential kind of adversary or competitor and does so obviously ruthlessly."


The top U.S. diplomat, in some of the most detailed remarks of a U.S. official since the news on Friday, said the execution was not the first under Kim's rule and pointed to the urgency of addressing the North Korean nuclear state.


"It tells us a significant amount about the instability internally of the regime, with the numbers of executions," Kerry said. "It's an ominous sign of the instability and of the danger that does exist."


The young Kim, believed to be about 30, has carried out two long-range missile tests and a nuclear weapons test in defiance of U.N. sanctions since he took control two years ago after the death of his father, Kim Jong Il.


The Obama administration is working with China, the closest thing Pyongyang has to an ally, in seeking help to prevent any internal upheaval in North Korea from destabilizing the Korean peninsula, U.S. officials say.


Kerry, in the interview, said the nature of "this ruthless, horrendous dictatorship" and Kim's insecurities raised the stakes for China, Russia, Japan, South Korea and the United States to "stay on the same page" and push ahead on denuclearization.



"To have a nuclear weapon potentially in the hands of somebody like Kim Jong Un just becomes even more unacceptable," Kerry told ABC.

Read full story

Source: Reuters

Browse our directory of newspapers from United States



12-16-2013 Health

Obamacare website back up ahead of schedule after maintenance

The troubled federal website used by Americans to shop for health insurance as part of President Barack Obama's healthcare overhaul was back up and running on Sunday after planned maintenance overnight took less time than planned, government officials said.

Healthcare.gov underwent what officials at the Centers for Medicare & Medicaid Services, the agency running the healthcare overhaul, called "extended maintenance" beginning at midnight Saturday EST. The work was scheduled to last through approximately noon on Sunday, during which time people in the 36 states served by HealthCare.gov could not fill out applications or enroll in a health insurance plan.


The site was instead up and running at 8:30 a.m. on Sunday morning, CMS said in a statement.


The downtime affected not only customers in the 36 states but also those in the 14 states and District of Columbia running their own insurance marketplaces.


In addition to the marketplace where people shop for and enroll in a health plans, the federal data services hub was unavailable. The hub determines whether people are eligible for subsidies to defray the cost of insurance, regardless of what state they live in.



Since its disastrous rollout on October 1, HealthCare.gov has undergone both planned and unplanned downtime and outages as contractors have scrambled to repair the botched software. Since late November, it has functioned much more smoothly.

Source: Reuters

Browse our directory of newspapers from United States





Amazon Online Shopping


Your Company Link


Your Company Link


Your 9AM and 9PM News
12-16-2013 Science&Technology

Meet a Higgs boson -- 'God particle' -- detective

One trillionth of a second after the Big Bang is the timeframe that physicist Joe Incandela knows well. So he was surprised by an invitation to speak to businesspeople last year about predictions for 2013.

"Take anything I tell you with a grain of salt," he told me recently at his office near Geneva, Switzerland, paraphrasing the presentation. "I know nothing about the future." It's a bold statement coming from someone who has spent decades collaborating on new technologies and inventive ways of solving problems. To explore the universe's past, Incandela has been thinking at the edge of the future.


Incandela leads the team for the Compact Muon Solenoid (CMS) experiment, one of two towering wonders of modern engineering that detected an important particle called the Higgs boson. Known to the general public as "the God particle," the Higgs boson helps explain why matter has mass, and therefore why we're here at all.


Physicist Leon Lederman's book "The God Particle: If the Universe Is the Answer, What Is the Question?" gave it that nickname, which scientists actually hate. Lederman wrote that while "Goddamn Particle" might have been a more appropriate title, the publisher wouldn't allow it.


The experiments that found it -- ATLAS and CMS -- lie at opposite ends of the most powerful particle accelerator on Earth. CERN's $10 billion Large Hadron Collider sits in a 17-mile circular tunnel under the French-Swiss border, and will smash protons at energies of 13 trillion electron volts in 2015, after upgrades. The machine was designed to recreate conditions around the time of the birth of the universe, to look for evidence of our origins, including the Higgs boson.


Francois Englert and Peter Higgs received a Nobel Prize in physics on Tuesday for coming up with theories about the all-important particle. Incandela sported a tux for the banquet and snapped a photo with Higgs.


Attending the Nobel ceremony in Stockholm was one of many thrills of Incandela's tenure as CMS spokesperson, a position akin to CEO of the experiment. He steps down at the end of this month, and will leave Switzerland in August to return to the University of California, Santa Barbara, where he is a professor of physics.


Overseeing the CMS experiment has kept Incandela, 57, too busy to notice the view of the Alps out his office window. Just this week, he's flown between Stockholm, Geneva and New York. No wonder he's waiting to settle back in the U.S. before getting a dog (he's picked the name Petabyte).



We sat at a table near the door as the physicist -- whose hair, pants and blazer were all shades of gray -- animatedly explained his vision of the future: A world of even greater interconnectedness of people and information, using a vast network of computers to solve new problems.

Read full story

Source: CNN

Browse our directory of newspapers from Switzerland



12-16-2013 Politics

Bachelet set for big win against childhood playmate as Chile votes

Chileans were voting on Sunday in a runoff election likely to hand former President Michelle Bachelet a fresh four-year term, with the center-left leader gunning for a landslide triumph to bolster her reform mandate.

In Chile's first presidential showdown between two women, voters are expected to give overwhelming backing to Bachelet, who led the country from 2006 to 2010, impressed by her easy charm and plans to tackle deep income inequality.


Her right-wing rival, the sharp-tongued Evelyn Matthei, has been weakened by her family's ties to the 1973-1990 military dictatorship of General Augusto Pinochet and by her post in the unpopular government of outgoing President Sebastian Pinera.


In the first round of voting on November 17, Bachelet, a 62-year-old pediatrician by training, won nearly twice as many votes as Matthei, a 60-year-old economist and former labor minister. But Bachelet fell just short of the 50 percent needed to win outright, pushing the vote into a runoff.


The two women were playmates during their childhood on an air force base, though the bloody 1973 military coup later divided their families.


"This is not about choosing between 'two women', as the press likes to put it," Bachelet said in a closing campaign speech to hundreds of cheering supporters on Thursday.


"There are deep differences here. I think Chile is ready to face the transformations that will allow it to be the country we all want. We can turn Chile into a truly developed country."


Robust, copper-led economic growth has turned Chile into a Wall Street favorite, but many Chileans feel they have yet to see the fruits of the mining boom as wealth and power remain largely concentrated in the hands of a small elite.


Bachelet wants to hike corporate taxes to pay for a wide-ranging education reform, shred the dictatorship-era constitution, and legalize abortion under certain circumstances.


"I voted for Bachelet. I want changes for the people, for young students, more opportunities for those of us who are lower-middle class," said Maximiliano Valdes, a 25-year-old electrician. "The changes she's promised can be done."


There have been no major polls ahead of the run-off, mainly because Bachelet's victory has been taken for granted.



While there is little doubt about the overall outcome, analysts say this assumption could result in voter apathy and low turnout that could deny Bachelet the dramatic win she is looking for to pressure a notoriously tricky Congress to approve her reforms. Disillusion with politicians also runs high.

Read full story

Source: Reuters

Browse our directory of newspapers from Chile



12-16-2013 Politics

Ukrainians rally against government, EU suspends trade talks

Thousands rallied on Sunday against Ukrainian President Viktor Yanukovich just days before he heads for a meeting in the Kremlin and opposition leaders told him not to bother coming back if he "sells out" Ukraine.

Minutes before the rally, EU enlargement chief Stefan Fuele said on Twitter he had told Ukraine he was suspending work on a trade and political deal, which should have been signed two weeks ago, saying Kiev's arguments to improve terms had "no grounds in reality".


Fuele's words suggested the European Union has lost patience with Kiev's demands for financial aid and was irritated at the way the bloc was being forced to take part in a 'bidding war' with Russia over Ukraine.


The focus was now on a visit Yanukovich is due to make to Moscow next Tuesday to tie up trade agreements with the Kremlin to help the distressed Ukrainian economy, but which the opposition fears will slam the door on integration with the European mainstream.


In particular, they fear he may take the first steps towards joining a Moscow-led customs union, together with Belarus and Kazakhstan, which they see as an attempt by Putin to re-create the Soviet Union.


"He might as well stay in Moscow and not come back to Kiev if a customs union agreement is signed," declared former economy minister Arseny Yatsenyuk, one of the opposition leaders. "We'll give him a really warm welcome if he sells out Ukraine."


"The Kremlin wants to take its revenge on Ukraine, divide Ukraine and drown it in blood," said far-right nationalist leader Oleh Tyahnybok. "We forbid this president to sign anything in Moscow that contradicts the interests of the Ukrainian state."


Yanukovich may be attempting to keep the attention of both Moscow and Brussels to strike as good a deal as possible to handle its huge debt and outstanding gas payments to Moscow. But it is a hazardous maneuver running the risk of alienating both parties.


Opposition leaders called for another mass rally on Tuesday to monitor Yanukovich's trip to Moscow and any deals made there.


'DESTINY IN EUROPE'


Earlier, U.S. Senator John McCain galvanized the 200,000 or so people on Kiev's Independence Square, telling them their destiny lay in Europe.


"We are here to support your just cause, the sovereign right of Ukraine to determine its own destiny freely and independently. And the destiny you seek lies in Europe," said McCain, a leading Republican voice on U.S. foreign policy.



Street protests erupted after Yanukovich's decision on November 21 to walk away from the agreement with the EU, after years of careful preparation, and turn to Moscow, Kiev's Soviet-era overlord, for aid to save Ukraine's economy.

Read full story

Source: Reuters

Browse our directory of newspapers from Ukraine



12-16-2013 Politics

South Africa buries 'greatest son' Mandela

South Africa buried Nelson Mandela on Sunday, leaving the multi-racial democracy he founded without its living inspiration and still striving for the "Rainbow Nation" ideal of shared prosperity he had dreamed of.

The Nobel peace laureate, who was held in apartheid prisons for 27 years before emerging to preach forgiveness and reconciliation, was laid to rest at his ancestral home in Qunu after a send-off combining military pomp with the traditional rites of his Xhosa abaThembu clan.


As the coffin was lowered into the wreath-ringed grave, three army helicopters flew over bearing the South African flag on weighted cables, a poignant echo of the anti-apartheid leader's inauguration as the nation's first black president nearly two decades ago.


A battery fired a 21-gun salute, the booms reverberating around the rolling hills of the Eastern Cape, before five fighter jets flying low in formation roared over the valley.


"Yours was truly a long walk to freedom, and now you have achieved the ultimate freedom in the bosom of your maker," armed forces Chaplain General Monwabisi Jamangile said at the grave site, where three of Mandela's children already lie.


Among the 450 mourners at the private burial ceremony were relatives, political leaders and foreign guests including Britain's Prince Charles, American civil rights activist Reverend Jesse Jackson and talk show host Oprah Winfrey.


Mandela died aged 95 in Johannesburg on December 5, plunging his 52 million countrymen and women and millions more around the world into grief, and triggering more than a week of official memorials to one of the towering figures of the 20th century.


Over 100,000 people paid their respects in person at Mandela's lying in state at Pretoria's Union Buildings, where he was sworn in as president in 1994, an event that brought the curtain down on more than three centuries of white domination.


When his body arrived on Saturday in Qunu, 700 km (450 miles) south of Johannesburg, it was greeted by ululating locals overjoyed that Madiba, the clan name by which he was affectionately known, had "come home".


"After his long life and illness he can now rest," said grandmother Victoria Ntsingo. "His work is done."


"GREATEST SON"


Before the burial, 4,500 family, friends and dignitaries attended the state funeral service in a huge domed tent, its interior draped in black, in a field near Mandela's homestead.


The flag-covered casket was carried in by military chiefs, with Mandela's grandson and heir, Mandla, and South African President Jacob Zuma following in their footsteps.



It was then placed on black and white Nguni cattle skins in front of a crescent of 95 candles, one for each year of Mandela's life, as a choir sang Nkosi Sikelel' iAfrika, the national anthem adopted after the end of apartheid in 1994.



Source: Reuters

Browse our directory of newspapers from South Africa




Yesterday's Most Popular













12-14-2013 Science&Technology

Twitter backtracks on block feature after users revolt

Twitter Inc was forced to nix a change to its "block" feature on Thursday after attracting a wave of protest from users who said the new policy empowered perpetrators of online abuse.

The humbling reversal on one of the most sensitive policy issues facing the social network came as Twitter encountered user revolt for the first time as a public company.


Under the short-lived change on Thursday, a blocked Twitter user could view or tweet at the person who blocked him or her, but that activity would have been rendered invisible to the victim as if the offending account did not exist.


Under the re-instated policy, users could prevent their harassers from following them or interacting with their tweets. Users are also explicitly notified if they are blocked.


Before it backtracked, Twitter had said Thursday that the change was meant to protect victims of harassment who wanted to filter out abusive messages but feared that the act of blocking a user would prompt retaliation.


"We have decided to revert the change after receiving feedback from many users - we never want to introduce features at the cost of users feeling less safe," vice president of product Michael Sippey wrote in a blog post.


Chief Executive Dick Costolo initially sought to address the mounting criticism by saying on Twitter that the new features were widely requested by victims of abuse.


But many were not convinced. Within hours, the service was flooded with angry users, including many who did not understand the nuances of the new policy, and hundreds had signed an online petition to reverse the change.


"New @twitter block policy is like a home security system that instead of keeping people out puts a blindfold on YOU when they come in," said user @edcasey.


"'Just ignore them & they'll stop' is a dangerous thing to say to bullied kids & a dangerous thing to say to stalked/harassed Twitter users," wrote @red3blog, another user.


Keeping abuse in check is a key issue for the company, which needs to keep hold of existing users and attract hundreds of millions of new ones to justify the stratospheric valuation that investors have placed on its stock.


Twitter shares have risen 35 percent to $55.33 the past two weeks on investor expectations that the company can sustain its growth for years and mature into an internet powerhouse.


The changes were announced Thursday after the market close.


The company's swift about-face similarly drew an outpouring of relief.


"The people have spoken and Twitter listened, thanks," said user @samar_ismail.



The controversy highlighted Twitter's dilemma over how it should police the freewheeling service or stamp out abuse.

Read full story

Source: Reuters

Browse our directory of newspapers from United States



12-14-2013 Science&Technology

Southampton University supercomputer goes live

A £3.2m supercomputer, one of the most powerful in the UK, has been installed at the University of Southampton.

The Iridis4 has 12,200 processors, each of which can perform a trillion calculations per second - a measurement referred to as a "teraflop".


The IBM machine also has a million gigabytes of disk space and 50 terabytes of memory.


Home computers generally have between 500GB and 2TB of disc space and about 4GB to 6GB of memory.


There are 1,024 gigabytes in a terabyte.


The university said the new machine would allow academics to work on more projects at faster speeds.


'Top 10' Pro vice-chancellor Prof Philip Nelson said: "Staying ahead of the game in high performance computing [HPC] is vital to help the university stay competitive.


"Simulation and computation enabled by HPC are recognised globally as the third pillar of modern research and this investment will ensure we remain world leaders in this field."


Iridis4 will be used for a range of research, including engineering, archaeology and medicine, as well as computer science.


The world's most powerful computer is China's Tianhe-2, which can perform 33,860 trillion calculations per second.


The university said its new computer ranked among the top 10 in the UK.


The most powerful is at the Science and Technology Facilities Council in Warrington.



Others are based at the University of Edinburgh, the European Centre for Medium-Range Weather Forecasts and the United Kingdom Meteorological Office.

Source: BBC

Browse our directory of newspapers from United Kingdom



12-14-2013 Science&Technology

Amazon's Jeff Bezos loses Nasa launch pad protest

A space company run by Amazon founder Jeff Bezos has lost a protest over Nasa's plans to lease out a launch pad.

Blue Origin protested to the US Government Accountability Office about the process Nasa uses to decide which companies can use the launch pad, either exclusively or sharing it.


The GAO rejected the protest and said Nasa had not shown a preference for one approach over another.


Blue Origin has not commented on the ruling.


Nasa is hoping to lease out Launch Pad 39A at Kennedy Space Center in Florida, which has not been used since the US shuttle fleet was retired in 2011. It was the launch pad from which Apollo 11 lifted off for the first manned Moon landing.


A spokesman for Nasa said: "Given today's GAO ruling, Nasa is looking forward in the near future to selecting an industry partner for negotiations to lease and operate the launch pad."


'Open to sharing' Another company, SpaceX, owned by Elon Musk, chief executive of Tesla Motors, is also bidding to use the facility. SpaceX had originally wanted to use the site exclusively but later said it was open to sharing the site. Blue Origin's plans were to share the site. Blue Origin suggested that Nasa's proposal for seeking companies to use the site preferred an option where the site was shared.


But after Nasa administrator Charles Bolden made a comment that Blue Origin said showed the agency favoured an exclusive contract instead of a shared approach, the company filed a protest.


The GAO disagreed with the protest and in its ruling said: "There currently is nothing in the record beyond the protester's arguments to show that either approach necessarily is better in terms of meeting the agency's objective of achieving the fullest commercial use of space.


"We conclude that nothing in the language of the [announcement for proposal] favours one approach over the other."


SpaceX has made no comment on the ruling.


SpaceX already launches rockets from Cape Canaveral and last year became the first company to dock a commercial craft at the International Space Station,



Blue Origin is working on a system, known as New Shepard, that the company says will allow researchers and other passengers to fly to sub-orbital space.

Source: BBC

Browse our directory of newspapers from United States



12-14-2013 Science&Technology

Lawsuit accuses IBM of hiding China risks amid NSA spy scandal

IBM Corp has been sued by a shareholder who accused it of concealing how its ties to what became a major U.S. spying scandal reduced business in China and ultimately caused its market value to plunge more than $12 billion.

IBM lobbied Congress hard to pass a law letting it share personal data of customers in China and elsewhere with the U.S. National Security Agency in a bid to protect its intellectual property rights, according to a complaint filed in the U.S. District Court in Manhattan.


The plaintiff in the complaint, Louisiana Sheriffs' Pension & Relief Fund, said this threatened IBM hardware sales in China, particularly given a program known as Prism that let the NSA spy on that country through technology companies such as IBM.


The Baton Rouge pension fund said the revelation of Prism and related disclosures by former NSA contractor Edward Snowden caused Chinese businesses and China's government to abruptly cut ties with the world's largest technology services provider.


It said this led IBM on October 16 to post disappointing third-quarter results, including drops in China of 22 percent in sales and 40 percent in hardware sales.


While quarterly profit rose 6 percent, revenue dropped 4 percent and fell well below analyst forecasts.


IBM shares fell 6.4 percent on October 17, wiping out $12.9 billion of the Armonk, New York-based company's market value.


The lawsuit names IBM, Chief Executive Virginia Rometty and Chief Financial Officer Mark Loughridge as defendants, and says they should be held liable for the company's failure to reveal sooner the risks of its lobbying and its NSA ties.


"These allegations are ludicrous and irresponsible and IBM will vigorously defend itself in court," IBM spokesman Doug Shelton said in an e-mail.


The Louisiana fund is represented by Bernstein, Litowitz, Berger & Grossmann, a prominent class-action specialist law firm. It seeks class-action status on behalf of shareholders from June 25 to October 16, 2013, and damages for shareholder losses.


Loughridge is retiring as CFO this month at age 60, which IBM calls its traditional retirement age. Martin Schroeter, who has been IBM's head of global finance, is replacing him.



The case is Louisiana Sheriffs' Pension & Relief Fund v. International Business Machines Corp et al, U.S. District Court, Southern District of New York, No. 13-08818.

Source: Reuters

Browse our directory of newspapers from United States





(0)
(0)




Featured stocks: Coffee Shoppe
For conservative debate: "Keeping it Real"
Game Changing stock $SHMP





Investors Hangout

Home

Mailbox

Message Boards

Favorites

Whats Hot

Blog

Settings

Privacy Policy

Terms and Conditions

Disclaimer

Contact Us

Whats Hot

Recent Activity

Most Viewed Boards

Most Viewed Posts

Most Posted Boards

Most Followed

Top Boards

Newest Boards

Newest Members

Investors Hangout Message Boards

Welcome To Investors Hangout

Stock Message Boards

American Stock Exchange (AMEX)

NASDAQ Stock Exchange (NASDAQ)

New York Stock Exchange (NYSE)

Penny Stocks - (OTC)

User Boards

The Hangout

Private

Global Markets

Australian Securities Exchange (ASX)

Euronext Amsterdam (AMS)

Euronext Brussels (BRU)

Euronext Lisbon (LIS)

Euronext Paris (PAR)

Foreign Exchange (FOREX)

Hong Kong Stock Exchange (HKEX)

London Stock Exchange (LSE)

Milan Stock Exchange (MLSE)

New Zealand Exchange (NZX)

Singapore Stock Exchange (SGX)

Toronto Stock Exchange (TSX)

Contact Investors Hangout

Email Us

Follow Investors Hangout

Twitter

YouTube

Facebook

Market Data powered by QuoteMedia. Copyright © 2025. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges).
Analyst Ratings & Earnings by Zacks. RT=Real-Time, EOD=End of Day, PD=Previous Day. Terms of Use.

© 2025 Copyright Investors Hangout, LLC All Rights Reserved.

Privacy Policy |Do Not Sell My Information | Terms & Conditions | Disclaimer | Help | Contact Us