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Written By Unknown on Kamis, 09 Oktober 2014 | 18.39

HubSpot prices shares at $25 for today's IPO

Cambridge-based HubSpot, an inbound marketing and sales software company, last night priced its initial public offering at $25 a share, above the expected range of $22 to $24 a share.

The 5 million common shares are expected to begin trading on the New York Stock Exchange today under the ticker symbol "HUBS."

Stock market has best day of the year

The stock market surged yesterday, erasing a steep loss from the day before, as investors reacted to minutes from the Federal Reserve's latest policy meeting, which showed that the central bank wants to keep interest rates extremely low for the time being.

The Dow Jones jumped 274.83 points, or 1.6 percent, to 16,994.22. The Standard & Poor's 500 index added 33.79 points, or 1.8 percent, to 1,968.89 and the Nasdaq composite rose 83.39 points, or 1.9 percent, to 4,468.59. All three indexes had their biggest point and percentage gains of the year. The Dow's jump was its biggest gain of the year.

AT&T to pay $105M for phone charges

AT&T Inc. agreed to pay $105 million, including $80 million in consumer refunds, to settle federal and state investigations that the company illegally billed mobile phone customers for unauthorized charges for ringtones and other services, officials said.

The practice, known as mobile cramming, involved hundreds of millions of dollars in charges for third-party services, the Federal Trade Commission said.

Massachusetts will receive more than $327,000 as part of the settlement.

Newton couple charged in $5.4M fraud

Secretary of State William F. Galvin has charged a Newton couple with fraud for allegedly failing to disclose important information to real estate investors, including their lack of experience and conflicts of interest.

Eileen and Lawrence Schwartz and their investment firm E. S. Schwartz & Co. allegedly misled clients into thinking they had experience in various real estate markets, causing investors to lose $5.4 million, Galvin said.

TODAY

  • Labor Department releases weekly jobless claims.
  • Commerce Department releases wholesale trade inventories for August.
  • Woburn-based MKA Executive Planners, which provides personalized retirement income planning for executives, business owners and professionals, announced the appointment of Dennis Sexton, left, as senior vice president. He previously managed the employee benefits division of IIG Inc.SentiCare Inc. and WorldClinic Inc.

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TD Garden goes gourmet

The TD Garden showed off the first phase of its
$70 million renovation yesterday — including digital screens that show fans' tweets and fancier food options such as a surf and turf burger — hours before the Bruins took to the ice for their home opener.

Construction crews renovated the fourth floor loge concourse over the summer, giving it a completely new look along with new technology and concession stands.

"(The fans) are going to love it," said Amy Latimer, president of TD Garden. "It's clean, it's bright ... they're going to have a great time."

The walls now boast pictures from notable events at the Garden, everything from ice skating championships to the Beatles' 1964 concert.

The concourse also has more than 200 digital screens for a flashier fan experience, including a video board that shows fans' tweets and live shots from the game and four 92-inch touch screens that can direct fans to their seats or the closest concession stand.

"Instead of waiting until we get outdated, we decided to be ahead of the curve," Latimer said.

More than 400 Wi-Fi antennas have been installed throughout the Garden, including some in the hockey boards, so fans at ice-level don't miss out on Tweeting or Snapchat.

Legends, the Garden's season ticket holder club, also has undergone a makeover, with a new raw bar, pizza oven and digital Celtics and Bruins banners that appear to blow in the wind. The original yellow Boston Garden sign is mounted on the wall and incorporated into the new design.

Eight of the 16 concession stands on the loge level also have been redesigned from top to bottom, with new menus and new kitchen equipment. Latimer said there has not been an arena-wide equipment upgrade in 20 years.

Patrick Kilduff, the Garden's executive chef, said the new concession stands are designed so fans can see their food being cooked.

"You can see the products being made in front of your eyes," he said. "It doesn't just come out of a drawer."

Starting yesterday, fans can get a "surf & turf double" burger — one beef patty and one crab and lobster patty — or pick something out from the mac and cheese bar.

"We're trying to get that ultra premium product to the guests," Kilduff said.

Of course, ultra-premium concessions come with a price tag — that surf and turf burger costs a cool $22. The Garden says the price of concession stand basics, such as hot dogs and pretzels, will not rise.

Said Latimer: "I think we've covered any taste for any person."


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Activist shareholder demands EMC act to boost stock price

An activist shareholder has made public its calls for data storage giant EMC Corp. to spin off its VMware virtualization software unit or pursue merger opportunities with other companies.

New York's Elliott Management Corp., which has a 2.2 percent EMC stake, said EMC's structure of four independently run companies "obscures" its "enormous value" and won't be viable when Joe Tucci — EMC's CEO since 2001 — retires in February, according to a letter signed by Elliott portfolio manager Jesse Cohn sent to EMC's board yesterday.

"EMC's stock price has under-performed its ... peers and the market ... while this structure has been in place," Cohn said. EMC bought VMware in 2004, and they are now "competing against one another, confusing customers, employees, Street analysts and shareholders," he said.

Since Elliott's July announcement of its EMC stake, it has "learned of acquisition interest in EMC's assets on the part of several large companies that make strategic sense," the letter said.

EMC has held advanced talks to sell to Hewlett-Packard and failed to reach a deal, primarily on price, Bloomberg News reported.

EMC said its board "regularly reviews and rigorously evaluates the company's strategy" to enhance shareholder value.

"Over the past few months, EMC's leadership has met with representatives of Elliott several times and has listened carefully to their ideas, as we do with all of our shareholders," it said.

Herald wire services contributed to this report.


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City orders one-day suspension of club’s license

The Boston Licensing Board yesterday slapped a local nightclub with a one-day license suspension for failing to call police about an alleged sexual assault on its dance floor.

Mac Dauber, the Royale's security director, told the board Tuesday that the alleged victim never told him she had been groped Aug. 10.

But the board unanimously agreed yesterday that Dauber erred when he told the 24-year-old woman the police didn't need to be called because he worked closely with them.

"It's clear she made at least some people aware of exactly what transpired," Chairwoman Nicole Murati Ferrer said.

Dauber was not at yesterday's meeting and could not be reached for comment.

Licensing Board records show the Royale has a history of failing to call 911 for emergencies, a charge it denies.

The board issued the Tremont Street club a warning on May 19, 2011, after a patron said he was stabbed, and staff gave him bandages instead of calling for an ambulance. On Jan. 20, 2011, the board suspended the club's license for two days for failing to call 911 after a man reported he was beaten.


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Accelerator teams with French city

Written By Unknown on Rabu, 08 Oktober 2014 | 18.39

Boston startup accelerator and competition host MassChallenge will sign a memorandum of understanding today to forge ties with the city of Lyon, France, home to an international biotechnology cluster and Europe's top center for vaccine production.

"It's basically a general framework for cooperation between the entrepreneurial ecosystems of Lyon and Boston in general, but specifically here with MassChallenge," said Amir Eldad, MassChallenge's international expansion "evangelist."

There's a very distinct sector alignment between the two cities, including in the life sciences, biotech, medical devices, robotics and nanotechnology, Eldad said.

MassChallenge participated in Gov. Deval Patrick's September trade mission that included a Lyon stop. Lyon Mayor Gerard Collomb, slated to be in Boston today, was unavailable for comment.

The second largest metro area in France, Lyon is home to the headquarters of vaccine maker Sanofi Pasteur and in vitro diagnostics company bioMerieux, both of which have operations in Cambridge.


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Bill Gates gives $5M to startup

A Cambridge biotech startup yesterday got a 
$5 million boost from the Bill & Melinda Gates Foundation to develop synthetic bacteria to fight disease.

Synlogic said it will work with the former Microsoft boss' charitable foundation to help combat diseases in poor and developing nations.

"We are excited to work with Synlogic in such an encouraging area of breakthrough science," Trevor Mundel, president of Global Health at the Bill & Melinda Gates Foundation, said in a statement. "Synlogic's technology platform could lead to new therapies for some of the most severe diarrheal diseases, the second-leading cause of death for children in developing countries."

The Gates Foundation has committed the $5 million in addition to the nearly 
$30 million Synlogic raised in July in Series A round funding from Atlas Ventures and New Enterprise Associates.

"It's certainly very validating for a company that is just getting started," said Ankit Mahadevia, Synlogic's chief executive. "We started this company to develop great products."

Using synthetically engineered microbes, Synlogic has developed a way for bacteria to perform a specific therapeutic action inside the body — such as delivering drugs — and then deactivate.

Mahadevia said the company will use the money to continue to develop its synthetic microbe platform. Earlier this year, Synlogic said it's platform "could have merit" in treating gastrointestinal diseases.

The Gates Foundation's global health division is focused on solutions to major health issues in poor and developing nations. In addition to its investments, the foundation has given out 
$30 billion in grants.


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App traps child predators

Technology is closing in on child predators as the federal government expands a highly successful smartphone app that has made it easier to identify and lock up the sick individuals who prey on kids.

"They've exploited children using technology for years, and now it's time for us to use technology to exploit them," said Bruce Foucart, special agent in charge of U.S. Immigration and Customs Enforcement (ICE) Homeland Security Investigations in Boston. "I hope this sends a message to them."

The Operation Predator app is now available for Android smartphones and in Spanish, a significant expansion one year after the iOS version launched. The highly rated iPhone app has been downloaded more than 93,400 times, leading to the arrest of seven suspects in a year.

"If we've saved one kid or taken one kid out of harm's way, it's worth it," Foucart said.

The app is simple to use, providing descriptions of suspects and an easy way to submit tips. Those descriptions are detailed too, like the suspect profile for John Doe — a man last seen in southern Connecticut, age 40 to 50, who is known to go by the name "Rnold Kvistniak" and to be proficient in computer programming. He's wanted for conspiracy to produce child pornography.

Users can submit tips immediately by phone or via the app. The tip lines are manned 24/7, Foucart said.

Investigators act on tips quickly. Just 36 hours after the initial app launch last year, a tip from a user led to the arrest of a fugitive in Detroit. In December 2013, another suspect was arrested just hours after being added to the app.

ICE is one of the few law enforcement agencies that have harnessed the rapid response power of mobile technology to solve crimes.

A few exceptions include the Texas Department of Public Safety, which released a new app last month to allow users to search for sex offenders by location and proximity. The Massachusetts State Police and Worcester Police Department also offer mobile apps.

But other police departments and public safety agencies would be wise to use the ICE app as a model. And smartphone users would be wise to download it and spread the word.

Said Foucart, "People think they can remain anonymous behind their computers, but this is yet another example of how we're closing in on them."


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Bruins’ practice rink striking glass

The Boston Bruins' new practice facility at New Balance's Boston Landing project complements the high-glass design of the athletic footwear company's adjacent headquarters, according to preliminary renderings filed with the city.

The rink's glass facade will allow travelers along the Massachusetts Turnpike, which it fronts, to see into the Brighton practice facility for peeks of its stands and ceiling banners.

The preliminary designs by Boston's Elkus Manfredi Architects show the NHL team's trademark spoked B logo figuring prominently on the building's exterior.

The rink, which will include about 650 seats, concessions and Bruins locker room and training space, is set for completion in 2016.

— DONNA GOODISON


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Asian stocks mixed after growth forecast cut

Written By Unknown on Selasa, 07 Oktober 2014 | 18.39

BANGKOK — Asian stocks were mixed Tuesday after Wall Street edged down and the World Bank trimmed its forecast of the region's economic growth.

KEEPING SCORE: Tokyo's Nikkei 225 declined 0.2 percent to 15,855.47 while Hong Kong's Hang Seng gained 0.5 percent to 23,433.49. Seoul's Kospi was up 0.3 percent at 1,973.39. Jakarta rose while Sydney and Singapore fell.

WALL STREET: Stocks fell despite corporate news including Hewlett Packard Co.'s announcement it will split into two companies. The U.S. Federal Reserve was due to release notes on its latest meeting, and investors were looking for signs of when the Fed might raise rates — a move that for now is not expected until mid-2015. The Standard & Poor's 500 index fell 0.2 percent and the Dow Jones industrial average lost 0.1. The Nasdaq composite fell 0.5 percent.

WORLD BANK: The World Bank trimmed its growth forecast for developing East Asian economies to 6.9 percent from an outlook of 7.1 percent in April. The bank said China, the region's biggest economy, should grow by 7.2 percent, declining to 7.5 percent next year, as the government tries to shift from reliance on trade and investment to growth driven by domestic consumption.

ANALYST'S VIEW: "Investors are also weighing improving fundamentals in the U.S. versus deteriorating conditions in Asia, especially after the World Bank downgraded growth forecasts in China and developing East Asia yesterday," said Desmond Chua of CMC Markets in a report.

EUROPE: Germany was due to report factory data that were expected to show a contraction in activity in August for the first time in 15 months. Analysts blame weak demand in other Eurozone markets and tensions with Russia that have weighed on trade. Earlier data showed auto production fell sharply in August while business confidence surveys also showed a decline in manufacturing.

ENERGY: Benchmark U.S. crude shed 11 cents to $90.23 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 60 cents on Monday to close at $90.34.

CURRENCIES: The dollar gained to 108.89 yen from Monday's 108.82. The euro edged down to $1.2622 from the previous session's $1.2653.


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Samsung expects lowest profit in over 3 years

SEOUL, South Korea — The world's biggest smartphone maker is suffering a stunning financial decline in the face of intense competition from Apple Inc. and upstart Chinese brands.

In a preview to earnings due out this month, Samsung Electronics Co. said Tuesday its quarterly profit is estimated to have fallen to its lowest level in more than three years, dragged down by weak sales of its new Galaxy model.

Samsung became the biggest smartphone brand on the popularity of earlier Galaxy models. But the bigger screen on Apple's new iPhone 6 is luring away Americans who liked the bigger Galaxy, while in China, local brands are making inroads into Samsung's business.

Analysts have repeatedly cut forecasts of Samsung's profit this year as Galaxy sales lagged expectations. They say earnings in the quarter ending in September could suffer their biggest decline in Samsung's recent history.

In Tuesday's report, Samsung said the median forecast of July-September operating income was 4.1 trillion won ($3.8 billion). That was below the median of analysts' expectations of 5.2 trillion won, according to FactSet, a financial data provider. It would be a 60 percent plunge from record-high 10.2 trillion won a year earlier.

The decline in Galaxy sales has hurt demand for Samsung components such as an advanced display called OLED. High marketing costs are undermining profits.

"The operating margin declined due to increased marketing expenditure and lowered average selling price," Samsung said in a statement. The company said it "cautiously expects increased shipments of new smartphones and strong seasonal demand for TV products."

Analysts say the bigger iPhones released last month will likely take away American customers who favored the Galaxy's bigger screens. In emerging markets such as India and China, Samsung's smartphone sales were overtaken by local rivals.

Samsung estimated sales for the July-September period declined 20 percent from a year earlier to 47 trillion won ($44.2 billion). That was slightly below analysts' expectations of 50.4 trillion won.

In January, analysts estimated Samsung's third quarter operating income would exceed 10 trillion won. That expectation has been steadily lowered to about half this month.

Quarterly profit from its mobile business, which reached 6.7 trillion a year earlier, is forecast to be a little over 2 trillion won.

The company needs to revamp its handset designs, said Lee Seung-woo, an analyst at IBK Securities Co.

"Rather than seeking stability, Samsung should seek to distinguish (its phones) with Galaxy's design policies," he said. "The iPhone 6 will be a significant threat to Samsung."

The company moved the launch of the Galaxy Note 4, a large smartphone with a stylus, to late September from October after Apple unveiled the iPhone 6. It also began sales of the Galaxy Note 4 in China last month, getting an early start in the world's most populous country before Apple.

Last month, Samsung also received upbeat initial responses to its Galaxy Note Edge smartphone, a smartphone with a curved side screen that can display weather, news, apps and other information. But the supply volume for the Edge smartphone will be limited, likely not giving a big boost to its earnings, analysts said.

With growth momentum in smartphones sagging, Samsung is moving to step up its presence in the semiconductor business.

This week, Samsung announced a 15.6 trillion won ($14.7 billion) investment plan to build a new semiconductor fabrication plant in the South Korean city of Pyeongtaek. The construction will begin before the summer next year and begin operations during the second half of 2017.

Samsung did not disclose net income or divisional earnings in its quarterly earnings preview.


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US health providers expand their Ebola precautions

NEW YORK — Public hospitals in New York City are concerned enough about Ebola that they've secretly been sending actors with mock symptoms into emergency rooms to test how good the triage staff is at identifying and isolating possible cases.

A small hospital in the Ohio countryside has hung up signs, imploring patients to let nurses know immediately if they have traveled recently to West Africa.

And across the U.S., one of the nation's largest ambulance companies has put together step-by-step instructions on how to wrap the interior of a rig with plastic sheeting while transporting a patient.

Ebola has yet to infect a single person on U.S. soil — the one confirmed case here involves a man who contracted the virus overseas. But health care providers are worried enough that they are taking a wide variety of precautions.

It isn't yet clear whether those preparations are overkill, or not nearly enough. But medical officials and health experts say that, at the very least, the scare is giving them a chance to reinforce and test infection control procedures.

"The attention has been, in a sad way, very helpful," said Dr. Richard Wenzel, an epidemiologist at Virginia Commonwealth University and a former president of the International Society for Infectious Diseases.

He said even small hospitals far from hubs of international travel should be reviewing their protocols and screening questions now, and potentially buying protective equipment such as face masks and protective suits, to avoid a repeat of the problems that occurred at a hospital in Dallas, where a man with Ebola was sent home — only to be readmitted two days later.

"The debacle in Texas should stimulate improved awareness and responses," Wenzel said.

Hospitals around the country are already getting ample opportunities to test their infection control procedures due to a growing number of false alarms.

In New York, 24 patients have been put into isolation over the past eight weeks in city-owned hospitals because of fears they might have Ebola, according to Dr. Ross Wilson, the chief medical officer at the New York City Health and Hospitals Corporation.

None had the disease (some patients had malaria and one had typhoid), but Wilson said the point has been to isolate possible cases quickly so there is no chance for the virus to spread.

"We're taking this very seriously," he said.

Some staff has been retrained on how to properly put on and remove protective gear. At the city's flagship public hospital, Bellevue Hospital Center, technicians are assembling a lab that will exclusively handle Ebola blood tests so that samples won't contaminate equipment in other parts of the hospital. A small number of beds have been set up in an isolation ward for taking confirmed cases. So far, nobody has had to use it.

City 911 operators have been told to ask certain people calling for an ambulance whether they've been to West Africa recently.

That question is also becoming the norm at AMR, which operates private ambulances in 40 states. It has told its staff of 19,000 paramedics and EMTs that patients with certain symptoms should be asked about travel to certain parts of Africa. If they answer yes, emergency service workers are supposed to don extra protective gear, including shoe coverings, a mask and goggles, and alert health authorities that the patient might have Ebola.

"We don't want to respond with a presumption that everyone in the field has Ebola," said Dr. Ed Racht, AMR's chief medical officer. But he said extra precautions are warranted.

"The idea is, if the travel question is positive with the symptoms, it gives us a yellow flag ... It doesn't mean immediately putting on the space suits."

That said, the company has also put together a guide for transporting patients who have tested positive for the virus. It includes step-by-step instructions on how to use plastic sheeting, garbage bags and duct tape to protect the ambulance and the driver from contaminants.

Step No. 2: "Place sheeting on the floor of the rig and affix to bench seat, jump seat and walls to create a bowl affect in an effort to channel any body fluids toward the center of the floor causing fluids to collect in one area."

A more commonplace precaution has popped up at the Mercer County Community Hospital in Coldwater, Ohio, a village of 4,400 people near the Indiana state boarder. Nicole Pleiman, an infection prevention and control nurse, said the hospital posted signs at entrances about a month ago telling patients to notify the staff immediately if they've traveled recently to African countries hit by the outbreak. Other hospital protocols are under review, she said.

"We will definitely revisit that to see if we need to do anything additional," she said.

Three major hospitals in Dallas have established isolation units and consulted with staff members about how to handle the next Ebola patient, if one arises.

With eight children sent home from school because they had direct contact with the lone confirmed Ebola victim, Children's Memorial Hospital in northwest Dallas is preparing to treat any pediatric Ebola patients.

Doctors at the other two facilities, Parkland Memorial Hospital and Baylor University Medical Center, have identified doctors and nurses ready to treat any Ebola patient. As has become commonplace nationwide, the Dallas hospitals are screening incoming patients to see if they've traveled to West Africa within the last three weeks.

Officials at the U.S. Centers for Disease Control, while urging providers to be prepared, also have repeatedly said that they don't believe the country is likely to see the type of outbreak that has killed thousands of people in Liberia, Sierra Leone and Guinea.

Mortality rates are likely to be much lower in the U.S., due to more sophisticated care, experts say. Ebola also isn't nearly as contagious as illnesses such as the flu, which can be spread through the air, or HIV, which can be transmitted by people who have no symptoms.

Still, there is concern in some quarters that not enough is being done.

National Nurses United, a union that says it represents about 185,000 nurses nationwide, has been distributing a survey on Ebola preparedness to its members. Union spokesman Charles Idelson said many respondents have said they don't feel nurses at their hospital have gotten enough training about how to handle a patient who might have the virus.

Many of the nurses said they weren't even aware of whether their hospital had protective gear, he said.

"It's not enough to post a link to the Centers for Disease Control on the hospital's website," he added.

Wenzel, the infectious disease specialist at Virginia Commonwealth University, said that to truly be prepared against the virus, officials may want to think beyond health care facilities.

For instance, he suggested that cab drivers might be given pamphlets urging them to ask sick passengers on the way to the hospital the same question being posed now by ambulance drivers and triage nurses: Have you traveled to West Africa lately?

"I wouldn't put it in terms that are going to make people panic," he said. But he said that, at the very least, drivers should know that cleaning up a mess left by a sick passenger could carry a health risk.

___

Associated Press writers Nomaan Merchant in Dallas and John Seewer in Toledo, Ohio, contributed to this report.

___

The AP National Investigative Team can be reached at investigate@ap.org


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Mobile revolution shakes up Silicon Valley

SAN FRANCISCO — Smartphones, tablets and other gadgets aren't just changing the way we live and work. They are shaking up Silicon Valley's balance of power and splitting up businesses. Long-established companies such as Hewlett-Packard Co. and eBay Inc. are scrambling to regain their footing to better compete against mobile-savvy trendsetters like Apple and Google, as well as rising technology stars that have built businesses around "cloud computing."

That term covers a swath of Internet-driven services that shifted technology from the days software users paid a one-time fee to buy and install programs on individual machines where they also stored all their data on hard drives. But with the advent of the "cloud," people can now rent software to use over the Internet. This enables customers to access documents, pictures and other vital information from any kind of Internet-connected device, a convenience that's become a necessity during the past few years as people increasingly rely on smartphones and tablets instead of laptop and desktop computers.

Business software makers such as Salesforce.com Inc., VMware Inc. and Workday Inc. built their entire business models around the cloud. All have delivered impressive revenue growth that turned their stocks into hot commodities. Online storage services Dropbox and Box have yet to go public. But they have been minted with big valuations from venture capitalists who believe they will thrive amid the increased usage of mobile devices and cloud-computing services. Meanwhile, Apple Inc. and Google Inc. are prospering from the rise of mobile devices now that their competing software systems — iOS and Android — run most of the smartphones and tablets in the world. Apple now reigns as the world's most valuable company at roughly $600 billion while Google ranks third at about $400 billion.

Google is developing another way to make money off the cloud-computing movement: leasing some of the servers in its data centers to mobile application and Web service providers. Amazon.com Inc. has been doing the same thing for an even longer period of time, enabling providers to develop and introduce new cloud computing services without having to spend a lot of money on servers sold by the likes of HP, IBM Corp. and Oracle Corp.

The rise in mobile popularity has taken a big bite out of personal computer sales. That's slammed Silicon Valley pioneer HP, once the world's biggest seller of PCs.

Since Apple ignited the tablet market with the 2010 release of the iPad, the annual revenue in HP's personal computer division has plunged by more than 20 percent. That downturn is a key reason why HP's market value has fallen by about $55 billion, or 40 percent, since the iPad's release. In an effort to adapt, HP said Monday that it will split off its PC and printer operations and form a separate company tailored to business software and services for the cloud-computing age. The spin-off is something HP originally explored three years ago only to back off after CEO Meg Whitman concluded the company would be stronger if it held on to the PC division.

That conclusion reflected a long-standing belief that companies are generally better off when they have an array of products to appeal to the various needs of different customers.

HP and other large companies are "struggling to compete against younger upstarts," says long-time Silicon Valley observer Paul Saffo. "Once upon a time, scale and size were a competitive advantage. Now, they are a problem."

Last week online marketplace eBay announced a similar spinoff. After rejecting the notion earlier this year, it decided to unleash its online payment service, PayPal, to give it a better chance to compete against threats posed by other mobile payment options. Most analysts believe Apple's decision to introduce its own mobile payment service, Apple Pay, on the new iPhones released last month prompted eBay to finally cut PayPal loose.

"Is this the beginning of a trend?" wonders Bob O'Donnell, chief analyst at TECHnalysis Research. "We saw a lot of tech firms become conglomerates. At a certain point in any market, the pendulum starts to swing back the other way. You start to sell off pieces because it becomes unmanageable as a business."

Yahoo Inc., a long-struggling company that built one of the Internet's best-known brands, currently faces pressure from activist investor Starboard Value LP to make changes such as spinning off its lucrative stakes in two Asian companies, Alibaba Holding Group and Yahoo Japan. Since Starboard urged the company to take action in a letter late last month, Yahoo has only said it will explore its options and maintain an "open dialogue" with all shareholders.

Even though both HP and eBay dawdled with their spinoffs, it's probably a good sign that they both finally got around to doing it, says technology analyst Rob Enderle. Investors evidently think so too. EBay's stock price surged by more than 7 percent on the day the PayPal spinoff was announced, while HP's shares gained nearly 5 percent after the company disclosed plans to part with its PC division.

"The companies are at least trying to evolve to address the threat, which is a good sign because the change in technology is accelerating," Enderle says.

___

AP Technology Writer Brandon Bailey contributed to this story.


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Hewlett-Packard splits off PC, printer businesses

Written By Unknown on Senin, 06 Oktober 2014 | 18.39

NEW YORK — Hewlett-Packard is splitting itself into two companies, one focused on its personal computer and printing business and another on technology services, such as data storage, servers and software, as it aims to drive profits higher.

The company laid off tens of thousands of people in recent years as sales crumbled, with customers shifting to mobile devices like smartphones and computer tablets. That has drastically curbed demand for HP's desktop and laptop computers, as well as its printers.

The company said Monday that the PC and printer business will use the name HP Inc. The services business will be called Hewlett-Packard Enterprise.

HP CEO Meg Whitman will lead the Enterprise business. HP PC and printer chief Dion Weisler will be CEO of HP Inc.

"The decision to separate into two market-leading companies underscores our commitment to the turnaround plan," Whitman said. "It will provide each new company with the independence, focus, financial resources, and flexibility they need to adapt quickly to market and customer dynamics."

Cantor Fitzgerald's Brian White said that there are numerous reasons why HP would want to split the businesses, including the slowdown of the PC market since the iPad debuted in April 2010. While the PC market has shown some improving trends this year, White said in a client note that separating into two companies gives HP the option to sell off one or both businesses if an attractive offer is made.

The split, if approved by the company board, is expected to close by the end of fiscal 2015. Once complete, HP stockholders will own shares of both companies.

During its most recent quarter HP reported revenue of $27.6 billion, a 1 percent annual gain. It marked HP's first year-over-year increase in quarterly revenue since late 2011. Printers and computers contributed 51 percent of the company's quarterly revenue, with the rest coming from technology services like consulting, software and financial programs.

HP is expected to complete the latest round of layoffs, between 11,000 to 16,000 people, this month. That is on top of the 34,000 people it had already jettisoned from its payroll.

Another tech stalwart announced a split this month. In a bid to drive growth, eBay Inc. said it would spin off its mobile payment service PayPal into a separate and publicly traded company. Investors sent eBay shares up more than 7 percent on the day of the announcement.

Jim Suva of Citi Investment Research said that HP's announcement may be coming now partly because the stock market has been supportive of spinoffs of late. The analyst also believes the company's stronger balance sheet, stable PC margins, improving services margins, better financials and completion of the more difficult parts of its restructuring efforts played a role in its decision to act now.

HP maintained its guidance for fiscal 2014 adjusted earnings between $3.70 and $3.74 per share. Analysts polled by FactSet predict earnings of $3.73 per share.

For fiscal 2015, the company anticipates adjusted earnings in a range of $3.83 to $4.03 per share. Wall Street is looking for $3.96 per share.

Shares of Hewlett-Packard Co., based in Palo Alto, California, gained $1.80, or 5.1 percent, to $37 in premarket trading two hours before the market open.


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Wal-Mart plans 1-stop health coverage shopping

NEW YORK — Wal-Mart is taking one-stop shopping to another area: health insurance.

The world's largest retailer plans to work with DirectHealth.com, an online health insurance comparison site and agency, to allow shoppers to compare coverage options and enroll in Medicare plans or the public exchange plans created under the Affordable Care Act.

The strategy is another step into insurance marketing as the retailer tries to use its mammoth size to expand beyond food and other basics at a time of sluggish traffic and sales. It also could help Wal-Mart compete with drugstore chains such as Walgreen and CVS, which are rapidly adding health care services.

Customers can enroll online, by phone or at 2,700 of Wal-Mart's more than 4,000 stores, starting Oct. 10. The stores will be staffed with independent insurance agents from DirectHealth.com.

In April, Wal-Mart teamed up with Autoinsurance.com to let shoppers quickly find and buy insurance policies online. DirectHealth.com and Autoinsurance.com are owned and operated by Tranzutary Insurance Solutions LLC, a subsidiary of Tranzact of Fort Lee, New Jersey, which set up Tranzutary specifically to work with Wal-Mart.

Wal-Mart won't receive commissions on health coverage sales and hopes to benefit partly by luring customers into stores. DirectHealth is absorbing most of the costs to operate the program, Labeed Diab, senior vice president and president of Wal-Mart's health and wellness division, told The Associated Press.

Wal-Mart plans to launch a TV, radio and in-store promotions campaign this month.

Since 2005, Wal-Mart has hosted health insurance agents from individual insurers in stores to field questions and enroll customers. But Diab said that with the Affordable Care Act, shoppers found the search for coverage more complicated.

He cited outside research that shows that more than 60 percent of people have difficulty understanding their health insurance options and nearly 40 percent feel they picked the wrong plan after enrollment.

"We saw a greater need to bring more transparency and simplicity," Diab said. He noted the strategy is also part of Wal-Mart's strategy to build business in wellness and health care. But he also is counting on the program to bring more customers to the store.

"The more we can broaden the assortment, the more we can educate our customer, the better off we will be," he added.

As part of Wal-Mart's expansion into health care, it is testing 11 health care clinics run by Wal-Mart itself that offer primary care such as health screenings and management of chronic conditions like diabetes. That's different from its 100 leased health care clinics in its stores that focus on basic services like flu shots.

The health insurance program works this way: For customers over 65, DirectHealth.com offers access to more than 1,700 plans from 12 carriers including Aetna, Cigna, Humana and UnitedHealthcare during the Medicare open enrollment period from Oct. 15 through Dec. 7.

For customers under age 65, DirectHeath.com offers access to thousands of health exchange plans from more than 300 carriers. That open enrollment period is Nov. 15 to Feb. 15.

Customers can compare or enroll over the phone by calling 888-383-2111.

_________________

Follow Anne D'Innocenzio at http://www.Twitter.com/adinnocenzio


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Corporate deals set to return to pre-crisis levels

LONDON — In a year that's been awash with multi-billion dollar corporate deals, the number and value of mergers and acquisitions is set to grow further, reaching pre-crisis levels over the coming 12 months, consulting firm EY said Monday.

In its biannual Global Capital confidence barometer, EY said global M&A is on course to return to 2006 levels in the next year thanks to improvements in market conditions. Companies started getting reluctant to do deals in 2007 when the credit crunch really started. The following year's global financial crisis and subsequent recession saw M&A activity come to a near standstill.

However, the appetite for deal-making has picked up over the past couple of years as the world economy has recovered and stock markets, particularly in the U.S., have bounced back on growing confidence about the future. This year has seen a flurry of big announcements, particularly in the U.S., including AT&T's $48.5 billion takeover offer for DirecTV and Facebook's $19 billion bid for WhatsApp.

EY's survey found that 40 percent of companies anticipate pursuing acquisitions in the next 12 months. That's the highest level in three years.

It said the deals will not be confined to big names. In fact, some of the biggest activity will likely come from smaller firms seeking to strengthen their core businesses — it expects a big pick-up in deals valued at $250 million and under.

"Stable asset prices as well as increasing confidence in stability of the global economy are encouraging a more buoyant outlook for M&A," said Pip McCrostie, EY's global head of M&A. "Having experienced many years of volatility, this growing stability provides greater certainty in terms of strategic planning, although executives will continue to closely monitor unfolding geopolitical events."

EY said much of the M&A momentum will come from companies in the U.S., Britain, China, Japan, India and Australia. And the top five target countries are Brazil, China, India, Britain and the U.S. The sectors it found that could see big activity include automotive, technology, life sciences, telecommunications and consumer products

The survey is based on interviews with more than 1,600 senior executives in over 60 countries.


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Global stocks remain supported by US jobs data

SEOUL, South Korea — Global markets were mostly higher on Monday as investors continued to draw confidence from upbeat U.S. jobs data from last week.

KEEPING SCORE: Britain's FTSE 100 rose 0.4 percent to 6,555.12 and Germany's DAX advanced 0.9 percent to 9,279.16. France's CAC 40 added 0.3 percent to 4,292.70. Futures augured another cheerful day for U.S. stocks, with futures for the Dow Jones industrial average and the Standard & Poor's 500 up 0.3 percent.

ASIA'S DAY: Japan and Hong Kong rose but the rest of Asia was subdued. Tokyo's Nikkei 225 rose 1.2 percent to 15,890.95 and Hong Kong's Hang Seng index jumped 1.1 percent to 23,315.04. South Korea's Kospi dipped 0.4 percent to 1,968.39 and Australia's S&P/ASX 200 lost 0.5 percent to 5,292.90. Markets in mainland China were closed for a holiday.

US HIRES MORE, PAY FLAT: Government data on Friday showed employers added 248,000 jobs in September, beating market expectations. Unemployment fell to a six-year low of 5.9 percent. The Labor Department said hiring in July and August also was stronger than initially estimated. But average hourly wages fell a penny last month. Lack of wage inflation might prompt the Fed to delay raising interest rates from near zero. Many economists expect the Fed to put off a rate hike until mid-2015.

LOWER GERMAN DATA: Trading sentiment in Europe was not affected by another weak economic report. German factory orders dropped 5.7 percent in August from the previous month, worse than the 2.5 percent drop forecast. Analysts blamed weak demand from eurozone markets and uncertainty over Ukraine and the Middle East. Investors, however, remain focused on the U.S. recovery and the stimulus being offered by the European Central Bank.

ANALYST'S TAKE: "On Friday, the U.S. once again showed that it is the best house on what seems to be a slowly deteriorating neighborhood," said Chris Weston, chief market strategist at IG Markets. "While Europe is sinking into a stagflation hole, money managers are seeing qualities in the U.S. that stand out by a country mile right now."

WEEK AHEAD: The Fed is due to release minutes on Wednesday of a meeting last month. Investors will be watching for clues about a timetable for rate hikes and discussion surrounding the decision to keep the "considerable time" phrase in its pledge to keep interest rates near zero. Markets will be particularly attentive to signs of "increased hawkishness," said Sebastien Barbe of Credit Agricole.

ENERGY: Benchmark U.S. crude fell $1.30 to $89.70. On Friday, the contract lost $1.26 to settle at an 18-month low of $89.74 per a barrel on the New York Mercantile Exchange.

CURRENCIES: The dollar fell to 109.35 yen from Friday's 109.80. The euro inched up to $1.2558 from $1.2520.


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Artisan’s Asylum seeks to reinvent mission

Written By Unknown on Minggu, 05 Oktober 2014 | 18.38

The "bang, bang, bang!" in the background at Artisan's Asylum sounds startlingly like gunshots, but Ecco Pierce assures that it's only one of her compatriots at work.

"Your first impression when you walk in here is overstimulation," says Pierce, a 28-year-old multimedia artist. "The place is never quiet. It's never empty. It's a 24-hour establishment inhabited by daytime professionals, evening hobbyists and nighttime fanatics."

Strange, blinking robots hold court alongside fine artists, engineers, welders, woodworkers and other craftsmen, many of whom offer classes in their 150 studio spaces in the old Ames Envelope building in Somerville.

This rapidly growing amalgam of talent began in 2010, when a mechanical engineer and a costume designer were looking for a place where they could make things in their spare time.

The two rented 1,000 square feet in the Taza Chocolate factory and, to keep costs down, invited their friends on Facebook to share the space, expecting a dozen or so to take them up on the offer.

When 100 people showed up at their first meeting, they knew they were on to something.

"We've evolved from being a clubhouse for fun to being a real small-business incubator," said Molly Rubenstein, director of education and outreach. "And we feel like there's a lot of potential to do even more."

MassChallenge, the world's largest startup accelerator, selected Artisan's Asylum and 127 other finalists to compete for a share of more than $1.5 million in cash prizes.

"We're not trying to get to market; we're already here," Rubenstein said. "What we came to MassChallenge looking for was help planning our long-term evolution."

Artisan's Asylum is exploring working with local schools to teach youngsters real-world skills in science, technology, engineering, art and math, or STEAM.

And it wants to expand the training it offers in advanced manufacturing, an industry that will need to fill an estimated 100,000 jobs in the state over the next decade.

"Part of what we want to do is bring back the appeal of being a skilled tradesman," Rubenstein said. "We want to make sure that once you have a prototype, you don't send it over to China to be manufactured when it can be made right here."

Artisan's Asylum is "one of a very small number of pioneers in the maker space" qualified to provide that kind of training, and it's looking for potential partners who can help it scale nationally and internationally, said Mark Allio, a MassChallenge mentor and regional director of the Massachusetts Small Business Development Center at UMass Boston.

"I think they have a pretty clear vision of the value they add," Allio said, "and MassChallenge could help them expand to have an even bigger impact."


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Anchorage asks court to stop ride-sharing company

ANCHORAGE, Alaska — Anchorage is taking court action to stop ride-sharing company Uber from operating in the city.

The city requested an injunction and a temporary restraining order against Uber Technologies Inc. in civil superior court on Friday, KTUU (http://bit.ly/1pPqb62) reported.

Uber provides a smartphone app that allows people to order rides in privately driven cars instead of taxis.

The entry into the transportation marketplace by companies like Uber and Lyft has left legislators and local officials struggling to catch up with emerging technology that competes with traditional taxis and limos, but with less overhead. The drivers of the new companies, for example, use their personal cars and often do it for extra cash to supplement their income at other jobs.

A handful of state legislatures this year have tried and failed to pass bills to provide oversight for the so-called ridesharing companies. Taxi and limo companies have objected, arguing the web-based businesses have an unfair advantage and light regulation. Several municipalities nationwide are also grappling with the issue.

The service launched in Anchorage just over two weeks ago.

Uber didn't immediately respond to a request for comment about Anchorage's action that was made through its website on Saturday.

The city declined to comment on the municipality's filing. But Alaska Yellow Dispatch CEO Sloane Unwin said the local cab company plans to add its name to the request for an injunction.

The city did exactly what it should do to uphold its laws, Unwin said.

___

Information from: KTUU-TV, http://www.ktuu.com


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Robots to learn from Nurses

On the labor and delivery floor of Beth Israel Deaconess Medical Center, about 20 so-called ninja nurses use their sixth sense to efficiently assign staff and resources to patients to make sure everyone gets the care and attention they need.

Now, a doctor and an Massachusetts Institute of Technology professor are teaming up to use their medical and robotics expertise to improve how machines work with humans, and make hospitals a bit better in the process.

"What we're aiming to do is learn from people who are outstanding at these resource allocation jobs and potentially teach a machine," said Julie Shah, the professor who leads the Interactive Robotics group at the Computer Science and Artificial Intelligence Laboratory at MIT.

Shah and her husband Neel Shah, an obstetrician at Beth Israel, will spend the next two years learning from these "ninja" nurses — officially called resource nurses — to try to understand how they make certain choices to improve decision making in the hospital and in machines.

The Shahs will develop a simulation test for the resource nurses, with the goal of translating instinctive decisions into specific explanations for certain actions. The project is funded by the Harvard Risk Management Foundation.

"If we can learn what these rules are that the best people are using, we'll be able to train people better," Neel Shah said.

The Shahs said they hope to have a training tool that can help other nurses make better decisions within two years, but eventually hospital floors could have intelligent machines to help hospital staff make decisions.

"Any tools we can give clinicians on the front line and control as best we can are really helpful and (can) make care safer," said Carol Keohane of CRICO, which awarded the grant. "It will help to hone in, and help people identify what resources are needed and take care of this population as well as possible."

There is no intent to take jobs away from hospital staff, Julie Shah said. Instead, the research will be used to help nurses make decisions and train new nurses to have the same "ninja" prowess.

"This is an area where long term it's not practical to have machines doing the work," Julie Shah said. "We still need people doing it, the question is how do we support people doing it."

For Julie Shah, the research will also help with what she calls "re-planning," making decisions and adapting to new scenarios without explicit instructions.

Her research focuses on the decisions that machines — largely robots — make autonomously, without having to be explicitly told to complete a task or alter a plan as well as how machines work with humans.

But, if machines have a better understanding of the decisions that humans make, the machines could re-plan and adapt to changing scenarios better.


18.38 | 0 komentar | Read More

Robots to learn from Nurses

On the labor and delivery floor of Beth Israel Deaconess Medical Center, about 20 so-called ninja nurses use their sixth sense to efficiently assign staff and resources to patients to make sure everyone gets the care and attention they need.

Now, a doctor and an Massachusetts Institute of Technology professor are teaming up to use their medical and robotics expertise to improve how machines work with humans, and make hospitals a bit better in the process.

"What we're aiming to do is learn from people who are outstanding at these resource allocation jobs and potentially teach a machine," said Julie Shah, the professor who leads the Interactive Robotics group at the Computer Science and Artificial Intelligence Laboratory at MIT.

Shah and her husband Neel Shah, an obstetrician at Beth Israel, will spend the next two years learning from these "ninja" nurses — officially called resource nurses — to try to understand how they make certain choices to improve decision making in the hospital and in machines.

The Shahs will develop a simulation test for the resource nurses, with the goal of translating instinctive decisions into specific explanations for certain actions. The project is funded by the Harvard Risk Management Foundation.

"If we can learn what these rules are that the best people are using, we'll be able to train people better," Neel Shah said.

The Shahs said they hope to have a training tool that can help other nurses make better decisions within two years, but eventually hospital floors could have intelligent machines to help hospital staff make decisions.

"Any tools we can give clinicians on the front line and control as best we can are really helpful and (can) make care safer," said Carol Keohane of CRICO, which awarded the grant. "It will help to hone in, and help people identify what resources are needed and take care of this population as well as possible."

There is no intent to take jobs away from hospital staff, Julie Shah said. Instead, the research will be used to help nurses make decisions and train new nurses to have the same "ninja" prowess.

"This is an area where long term it's not practical to have machines doing the work," Julie Shah said. "We still need people doing it, the question is how do we support people doing it."

For Julie Shah, the research will also help with what she calls "re-planning," making decisions and adapting to new scenarios without explicit instructions.

Her research focuses on the decisions that machines — largely robots — make autonomously, without having to be explicitly told to complete a task or alter a plan as well as how machines work with humans.

But, if machines have a better understanding of the decisions that humans make, the machines could re-plan and adapt to changing scenarios better.


18.38 | 0 komentar | Read More
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