THE WRAP: Cisco sparks market swoon

This week the stock market dived after tech heavy Cisco complained of uncertainty, while spymasters continued to fret about the BlackBerry.
 
Cisco’s quarterly profit spiked 79% but its missed revenue estimates and uncertain outlook prompted a sell-off across the tech sector.
 
RIM won a reprieve in Saudi Arabia after reportedly handing over key codes, but was given an ultimatum by Indian security chiefs.
 
A Google and Verizon agreement on handling web traffic, which excluded mobile networks and possible “additional” services, was greeted with derision by open internet proponents.
 
HP CEO and chairman Mark Hurd resigned suddenly after admitting to making false expense claims to conceal a relationship with actress Jodie Fisher.
 
Price competition in emerging markets drove down Bharti Airtel’s profit and helped flatten the bottom line of shareholder SingTel.
 
The Australian opposition pitched a low-cost wireless alternative to the government’s next-gen fiber network.
 
South Korean police raided Google’s Seoul office as they probed the collection of Wi-Fi data by Street View vehicles.
 
Weeks after the flap over reception on the new iPhone 4, Mark Papermaster, head of the engineering team, left Apple.
 
Inmarsat is building a $1.2 billion (€934 million) network to offer mobile satellite broadband worldwide.
 
 
Skype revealed plans for an IPO that could raise $100 million (€75.9 million).
 
STT, Eircom’s majority shareholder, is examining refinancing options to shield it from the Irish firm’s €3.3 billion debt.
 
Sohu sold off 32% of its Sogou search business to investors, including the Alibaba Group. China Mobile and state-controlled Xinhua News Agency agreed to set up a new search company
 
Indian operator Tata DoCoMo pitched pay per website browsing to mobile customers.
 
Most Americans don’t think that high-speed internet should be a government priority, while half say they’ve sent a text to a family member when at home.
 
Laptops and mobiles worth £241,019 (€293,561) have been lost or stolen at the BBC in the past two years.
 
An Australian firm unveiled a car-to-car texting service based on number plates.
 

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