Silicon Valley firms facing biggest slump since 2002: ReportApril 14th, 2009 SAN FRANCISCO - Major companies in the Silicon Valley are suffering the biggest slump since the dot-com bust, further proving that the leading technology hub is not immune from the effects of a global economic meltdown, a new report has said. According to rankings compiled by the San Jose Mercury News, total market capitalisation of Silicon Valley's 150 biggest public companies plunged 32 percent to about $850 billion for the past 12 months ending March 31, the worst decline since 2002.
Facing biggest slump since 2002, Silicon Valley firms eye IndiaApril 15th, 2009 WASHINGTON - With major companies in the Silicon Valley suffering the biggest slump since the dot-com bust, some firms are eyeing India and China to recover from the effects of a global economic meltdown. The total market capitalisation of the leading technology hub's 150 biggest public companies plunged 32 percent to about $850 billion for the last 12 months ending March 31, the worst decline since 2002, according to an annual survey by the San Jose Mercury News.
Oracle sales down as businesses tighten beltsSeptember 16th, 2009 SAN FRANCISCO - Business software maker Oracle reported a 5 percent decline in quarterly revenue Wednesday as businesses held off on buying new software. The Silicon Valley company said its sales dropped to $5.1 billion, but the company managed to increase profits by 8 percent to $1.1 billion, compared to $1.07 billion in the year-ago quarter.
Indian PM should induct more professionals in government, says Silicon Valley's Kanwal Rekhi (Interview)June 26th, 2009 SILICON VALLEY - Hailing the appointment of Infosys chief Nandan Nilekani as chairman of the Unique Identification Database Authority of India (UIDAI), Silicon Valley's Indian giant Kanwal Rekhi said Prime Minister Manmohan Singh should induct more professionals in his government. "This is a very good move.
Former eBay CEO to run for California governorFebruary 9th, 2009 LOS ANGELES - Former eBay chief executive officer Meg Whitman has said that she will run for California governor to replace Arnold Schwarzenegger in 2010. 'California faces challenges unlike any other time in its history - a weak and faltering economy, massive job losses, and an exploding state budget deficit,' Whitman said in a written statement Monday.
Recession cloud has solar lining in Silicon ValleyJanuary 28th, 2009 SAN FRANCISCO - Microsoft is laying off 5,000 workers, Intel is closing five fabrication plants, and even mighty, can-do-no-wrong Google is slashing perks and laying off recruiters. But for a Silicon Valley steeled by the 2001 dot-com bust, a recession that could be the longest and deepest in 80 years is not causing panic or prophecies of doom.
AOL hires Yahoo's former 'peanut butter manifesto' executive for new Silicon Valley postSeptember 7th, 2009 AOL taps exec who famously warned Yahoo of troubleSAN FRANCISCO — AOL LLC has tapped former Yahoo Inc. executive Brad Garlinghouse for a key position that is meant to beef up the struggling Internet company's presence in Silicon Valley.
Sun warns of earnings below expectations in fourth quarterJuly 15th, 2009 SAN FRANCISCO - Sun Microsystems has warned that earnings would fall below expectations in the fourth quarter, which is also likely to be its last as an independent company. A Silicon Valley pioneer whose servers helped form the basis of the Internet and still power many large enterprises, Sun is close to completing a $7.38 billion sale to Oracle Corp after a series of huge losses pushed down its share price.
Argue, you're an Indian!August 2nd, 2005 Nobel Laureate Amartya Sen on why being argumentative is a virtue
Advani ads on 2,000 websitesFebruary 14th, 2009 NEW DELHI - To promote its prime ministerial candidate L.K. Advani, the tech savvy Bharatiya Janata Party (BJP) has put out five ad campaigns on 2,000 websites, including those of the US, British and Pakistani media, which are frequented by Indians.
Satyam fraud shatters Geelong's Silicon Valley dreamsAugust 3rd, 2009 GEELONG - The Silicon Valley dream for the Australian city of Geelong were shattered when the massive accounting fraud with its potential partner, Indian IT giant Satyam surfaced in January this year. ollowing job losses in the car manufacturing sector, Geelong could not have asked for more when the plan was proposed for a massive 75 million dollar IT hub at Deakin University.
Medidata Solutions shares surge up to 29 percent above IPO value in first day of tradingJune 25th, 2009 Medidata Solutions shares surge on IPONEW YORK — Shares of software maker Medidata Solutions surged 29 percent beyond the company's initial public offering value Thursday. Early Thursday, the company priced an initial public offering of 6.3 million shares at $14 apiece, putting the value at $88.2 million.
Prosecutors won't seek death for engineer charged with shooting 3 at Santa Clara firmJuly 31st, 2009 Prosecutors won't seek death in office killingsSAN JOSE, Calif. — Prosecutors won't seek the death penalty in the case of a Silicon Valley engineer charged with fatally shooting three people at a Santa Clara high-tech firm.
Stanford professor Rajeev Motwani, early Google advisor, found dead in home swimming poolJune 8th, 2009 Stanford computer prof. Rajeev Motwani found deadATHERTON, Calif.
Technology trailblazers reign as media power brokers gather in IdahoJuly 5th, 2009 Geeks double as scourges and sages at media summitThe media moguls attending an annual powwow staged by investment bank Allen & Co. used to be able to rest comfortably in the Idaho mountains as they mulled their next moves.