Webwire: Qualcomm overtakes Intel; Google ups venture pot
Qualcomm’s market value has overtaken rival chip firm Intel’s for the first time, after a bullish profit forecast resulted in its shares increasing 7.1% in morning trading yesterday. The increase left Qualcomm’s value at $106 billion (€83.1 billion) versus $105 billion for Intel.
Google plans to increase funding for its venture capital division by $100 million (€78.4 million) per year, so enabling the business to compete with rival arms from firms including Intel. The total annual fund of $300 million should enable the division to take part in later-stage financing rounds.
Ericsson will cut 1,550 jobs in its home country of Sweden, with the lion's share of cuts planned for its networks unit, after reporting a 42% slump in Q3 profit due in part to declining networking revenue.
Mastercard has unveiled a credit card sporting a built-in display and numeric keypad that can be used to generate one-time passwords to access online banking. The card is due to launch in Singapore in January, with global rollout to follow.
Apple has lost a VPN patent case filed by VirnetX alleging infringement by Apple's FaceTime function. A US jury decided Apple should pay $368.2 million (€288 million) for the alleged infringement.
US incumbent AT&T plans a $14 billion (€10.9 billion) investment in improving its networks over the next three years - $8 billion for its mobile network and $6 billion for wireline.
Scientists at a Welsh university are working on a project to develop a commercially viable solution to boost broadband speeds by 2,000 times, by developing a new approach to cost-effectively solving the dispersion problem.