Webwire: MS profit pleases analysts; MP blasts UK monitoring plans

Microsoft’s fiscal 3Q profit fell by less than expected, hitting $5.11 billion (€3.8 billion) compared to $5.23 billion a year ago. Income was due to fall because of a one-time tax gain made in the quarter last year.
British MP David Davis has warned the government that proposals to extend law enforcement agencies' access to web and phone records for surveillance purposes would “create a nation of suspects.”
Apple, Google, Intel, Adobe, Intuit, Pixar and Lucasfilm have lost their bid to dismiss an anti-trust suit relating to claims the firms illegally agreed not to poach employees.
Mark Zuckerberg kept Facebook’s board out the loop when negotiating the social network’s $1 billion (€759 million) acquisition of photo sharing app Instagram.
US operator Verizon reported a 20% increase in first-quarter profit to $3.91 billion (€2.9 billion), on the back of improved revenue and margins.
Facebook had submitted a bid for AOL's patent portfolio before being outbid by Microsoft's $1.06 billion (€804 million) offer, sources say.
Indian tower operators have objected to a government proposal to introduce a 74% cap on foreign direct ownership in telecom infrastructure companies.