THE WRAP: Cisco's shock and US blocks

This week Cisco sparked a tech sector sell-off after announcing a surprise cut in guidance, and Huawei was once again ruled out of a big US contract.
 
Cisco boosted profit 9% after a sharp ramp-up in quarterly sales, but sent the market tumbling after unexpectedly warning of much lower demand.
 
Sprint excluded Chinese vendors Huawei and ZTE from its giant 4G tender on security grounds after being lobbied by Obama Administration officials.
 
Orange launched a mobile payment service in Kenya as part of its efforts to grow its presence in Africa
 
The global handset market grew 35% in the third quarter, with unbranded Chinese-made phones taking market share away from the top vendors.
 
China Mobile is ready to run the world’s first metro TD-LTE trials.
 
Google denied Facebook access to its Gmail user data on the grounds that the social network site did not reciprocate.
 
The search firm also fired an employee for leaking a memo announcing a company-wide 10% pay rise, and pressured an Australian wine and beer website to dump the name “Groggle.”
 
Vodafone will sell its stake in Softbank for $5 billion (€3.6 billion) over the next 18 months.
 
BT narrowed losses in its troubled global services group and boosted pretax earnings 48%.
 
Telefonica Group saw profits surge 65% in the nine months to end-September, as revenues grew in all its global markets.
 
RIM’s PlayBook tablet will go on sale in Q1 next year, priced at below $500.
 
Asian operators and global telecom and IT vendors formed a new regional body to speed cloud take-up.
 
 
HTC weighed joining the app store craze, and more takeover rumors swirled around Yahoo

And 40,000 people rushed to “like” the Queen in the first hour after the British monarch joined Facebook.

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