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European tech investors spot safe havens from Brexit worries

Frankfurt (Reuters) -. Technology investors sought shelter after Brexit picking companies provide direct access to services for web and mobile clie...

 

European tech investors spot safe havens from Brexit worries

Frankfurt (Reuters) -. Technology investors sought shelter after Brexit picking companies provide direct access to services for web and mobile clients or companies mainly do business worldwide that could benefit from falling kilos

It’s way too Skram hardware makers or email trafficking suppliers with large British sales, which accounts for less currency driven by swinging voice of great Britain to leave the EU.

Shareholder is also cautious for software and services companies get caught short by freezing budgets by customers scrambling to evaluate their businesses and consequent slower economic growth.

Second quarter results starting this week and running in August. The Stoxx European technology index fell 10 percent in the June 23 vote, but has since returned 6.6 percent. It is namely 10.5 percent so far this year, weighed by the slowdown in the global economy is growing smartphone and concern about the global economy.

Brexit playing in a deeper trend in which established technology companies providing traditional hardware, software or services is losing ground to cloud-based businesses, such as corporate spending and consumer appetite shifted to the Web and mobile phones.

“There will be many companies poorly positioned for the cloud that will proclaim Brexit as a timely excuse for their own problems,” said Ben Rogoff, a fund manager at Polar Capital in London

“Let’s be clear here:. This uncertainty takes place against the background of growth, which in any case disappointing These companies will blame Brexit their own misexecution” ..

a recording of the head inligting beamptes in the United States and Europe by Morgan Stanley in June – before Brexit voice – the buyers had already paring back 2016 spending plans for hardware and technical services. Cloud, big data and security remains above bestedingsprioriteite, it found.

After the vote, global market research firm Gartner cut its technology spending outlook for Britain by 3 percent this year and 5 percent in 2017.

safe havens

two UK-based safe havens is ARM Holdings, the chip technology used in most smartphones licenses worldwide, and Sophos, driven by demand for its computer security software and services, most financial analysts say.

US names such as Salesforce.com and Red Hat, with a long-term subscriptions for Internet software supplied little direct exposure to the UK, are safe bets, said Silicon Valley-based analyst Trip Chowdhry. Amazon.com and Apple, while operating in Britain, enjoys strong brands and tough sake subscription models tend to isolate them from any UK slowdown, he said.

Worldwide benefits of spending on its advanced chip aimed ASML Netherlands makes tools from Intel and Taiwan’s TSMC <2330.TW>, along with the positive effects of product sales in dollars, but the discussion of them said in euros, Morgan Stanley.

Europe’s largest software maker, SAP, remains isolated by long sales cycles and an entrenched multinational client base, with little direct exposure to the UK, although the Brexit shock could prove in the last week of June has delayed some new software license trade.

Baader analyst Knut Woller expects SAP later confirm this month its full year 2016 financial targets, “SAP consensus for flat growth licensed in the second quarter, which would be seen to meet as a relief” and the stock handlebar higher, he said.

vulnerable

But the UK online advertising and e-commerce sales by other major American Internet in particular is set to an ultimate hit of slower economic growth and translation pounds in US dollars take breaks for record purpose, said Deutsche Bank analyst Ross Sandler

it includes eBay, with 16 percent of revenue from Britain. Price travel site with an estimated 15 per cent; Google 9.5 percent and Facebook with an estimated 7 to 10 percent linked to Britain, Sandler said.

Eastern European software service EPAM and Luxoft, which heavily rely on contracts of financial services and media customers in Britain and Western Europe, a number of technology stocks hardest hit in the region by worry about how Brexit undermine economic growth. Both stocks are en 15-20 percent in the past month.

Financial software vendors Temenos of Switzerland and the United Kingdom established Fidessa may have trouble closing contracts to reconsider the second half of 2016 as banks their British positions, UBS said.

“While we do not think the UK abandoned” vote is analogous collapse of Lehman, we think it’s probably as banks consider impede the possible implications of the decision-making in Europe, “UBS software analyst Michael Briest said

Dutch car navigation vendor TomTom’s stock has 20 percent immersed in the past month. UK consumers are responsible for 13 percent of sales, with three-quarters of total sales come from Europe, Barclays said <. / p>

“We have challenging times ahead for TomTom based on its exposure to the UK consumer market and the negative impact of foreign currency must TomTomâ ???? Gross have margins, “the Barclays analyst Andrew Gardiner.

TomTom face a double hit because most of what they sell are priced in dollars, making purchases more expensive in Britain.

(Editing by Ruth Pitchford)

SolarCity recuses two more board members from voting on Tesla offer

 

SolarCity recuses two more board members from voting on Tesla offer

(Reuters) – Two additional directors Solar City Corp. with links to buy Elon Musk is recusing of making decisions regarding the supply Tesla Motors Inc’s in the solar business, in an effort to corporate governance concerns surrounding a to mitigate the possible transaction.

The new recusals means sit the majority of the solar city’s council from deciding whether obtained by Tesla.

Peter Rive, who is the nephew of Tesla’s CEO, and solar city chairman Musk, along with JB Straubel, chief technology officer and co-founder of Tesla, both recusing himself from the decision-solar city spokesman Jonathan Bass said in a statement by e-mail to Reuters late on Friday.

Musk, the largest shareholder in both companies, withdrew themselves before outside vote on the potential deal, along with Antonio Gracias which both companies are plates, and SolarCity Chief Executive Lyndon Rive, which Musk’s cousin and brother Peter Rive’s

There are three remaining solar city councilors. John Fisher and Nancy Pfund, both venture capitalists and Donald Kendall Jr., CEO of Kenmont, an investment management company.

“We are very aware of the need for a process that is independent, objective decisions that ensure the best interests of all shareholders,” says solar city’s Bass in the statement.

Tesla did not immediately respond to a request for comment.

solar city will will be a special independent committee of the board, independent counsel, said Bass.

“Only board members who meet will be the independence requirements involved in decision making in solar city,” he added.

Musk has described a tie-up between Tesla and Solar City as a “no brainer.” The company can sell customers an electric car, a house battery and a solar system all at once, he said.

But investors, including some that briefly put bets the block that shares will fall, reflects the conflict of interests and the risk of the union of two money losing companies to raise both money regularly to enlargement support.

Since Tesla his offer to buy solar city announced in a transaction worth $ 2800000000 Tuesday, analysts and investors are worried that the electric car company’s growth plan carries a financial burden and additional debt can not afford.

Solar City shares fell more than 50 percent of the year in a highly competitive market blows criticism that Tesla transaction was intended to save solar city.

(Sign by Liana B. Baker, editing by Peter Henderson and Tom Brown)

Data analysis from Paris raid on Google will take months, possibly years: prosecutor

 

Data analysis from Paris raid on Google will take months, possibly years: prosecutor

Paris (Reuters) – Analysis of data seized by detectives last week could take possibly years raided Google’s Paris headquarters, French financial prosecutor Eliane houlette yesterday

Dozens of French police raid Google’s offices. Tuesday, rising an investigation into alleged tax evasion.

“We have a very collected computer data,” said crook in an interview with Europe 1 radio, iTele TV channel and newspaper Le Monde, adding that 96 people participated in the attack.

“We have analyzed (data) … (it will) months, I hope it will not be for a few years, but we have very limited resources.”

Google, which says it fully complies with French law, has been under pressure in Europe from public opinion and governments angry at the way multinationals operate to reduce burdens their global presence.

(Sign by Maya Nikolaeva; Editing by David Goodman)

China says tech firms have nothing to fear from anti-terror law

 

China says tech firms have nothing to fear from anti-terror law

The law draft anti-terrorism cause concern in Western capitals as the technology companies may need to “agter Deure” install products or deliver sensitive information such as cryptographic keys to the government.

The law is currently busy with another reading at the last meeting of the standing committee of China’s largely rubber-stamp parliament, the National People’s Congress, which ends on Sunday.

This week, the US State Department said it had expressed “grave concern” about the law that China would do more harm than good to the threat of terrorism.

Chinese Foreign Ministry spokesman Hong Lei said he was “dissatisfied” with the US position and hoped they respected China law process and does not take “double standard.”

China faced a serious threat of terrorism and what is needed to improve its legal framework to deal with the problem, Hong added.

“What we do is reasonable and fair,” he said.

Terrorists have already operated with the help of the Internet and China to necessary laws with this, Hong added.

“While the wording of the law, to the laws of other countries, including the United States, we refer,” he said, pointing to the US Communications Assistance for Law Enforcement Act, an eavesdropping law.

“The concept of our anti-terrorism legislation requires the obligation of telecommunications operators, Internet servers and providers to help stop public and state security organ and investigating terrorist activities,” Hong added.

“It is both entirely rational and necessary. This rule will not restrict the legitimate business activity, not a ‘backdoor’ and freedom of speech will not be the companies do not affect Internet intellectual property. “

Officials in Washington argued the law, coupled with a new concept banking and insurance regulations and a host of anti-trust investigation, unfair regulatory pressures focus foreign companies.

China in July, the national security law, all major network infrastructure and requires information systems “secure and verifiable” be.

The US also said the new law may restrict freedom of expression and association.

Hong said China pays great attention to the relationship between fighting terrorism and protecting the human rights and will ensure people’s rights are protected.

Officials say China faces a growing threat from militant and independence, particularly in the unruly western region of Xinjiang, where hundreds died in violence in recent years.

The law groups, though, doubt the existence of a coherent militant group in Xinjiang, saying the unrest stems mostly from anger among the region’s Muslim Uighur people about restrictions on their religion and culture.

(Reporting by Ben Blanchard; Editing by Nick Macfie)

LinkedIn’s 4Q gets rave reviews from investors

 

SAN FRANCISCO (AP) â?? Online professional networking site LinkedIn quarter performance has a new line to his sterling resume as a limited company.

results’ s unbroken streak exceeded analysts LinkedIn Corp. Thursday extended forecasts for both revenue and gains. It was the seventh consecutive quarter since LinkedIn IPO in May 2011 that the company has pulled it off, much to the delight of investors.

series of surprises is one of the reasons why this file is LinkedIn tripled from its initial offering price of $ 45. shares jumped November 71 dollars, or 9.4 percent, to $ 135.80 in extended trading after the results were released.

In addition to an increase of 66 percent of sales in the previous year, the last quarter was characterized by an influx of 15 million accounts to the total number of members of LinkedIn drift than 200 million. Visitors to the website LinkedIn viewed 67 pages per cent over the previous year, an indication of the company’s efforts to increase new business and career advice to add for executives of companies to bear fruit.

embrace Wall Street LinkedIn contrast to the response to cold of other Internet services to the public over the past few years. Most of them are trading below their IPO price.’s most notable Facebook Inc., whose shares worth about 25 percent lower than it was when it debuted on the market in May

Although both sites

term dedicated to connecting people with common interests, LinkedIn and Facebook are aimed at different audiences. focuses on FaceBook friends and family good time to let the stories and of the swap, while LinkedIn focuses on helping people to move and help companies fill positions.

Facebook, based in Menlo Park, is the largest of the two services, with more than 1 billion active users and $ 5.1 billion sales last year. LinkedIn, based in Mountain View, California, has 202 million accounts and a turnover of $ 972 million in 2012.

But

LinkedIn is growing rapidly, partly because it is less dependent on advertising as Facebook and most Internet services. fourth quarter, advertising accounted for 27 percent of revenue on LinkedIn. The rest comes from the various tools it sells to recruit employees to help gather more ideas from information that users may post on its website.

As a result of his conviction that the data members worth more, LinkedIn said Thursday that he intends to raise prices this year. Creation of a user profile is free. Higher prices reflect the additional information the company has built up the membership has more than doubled in less than two years, according to Steve Sordello, CFO LinkedIn. Society has no information on the increases.

LinkedIn earned $ 11.5 million, or 10 cents per share , in the course of the last three months of last year. Which compared to $ 6.9 million, or 6 cents per share, a year earlier.

If not for the cost of the compensation of employees and certain other costs , LinkedIn said it would have earned 35 cents per share. This was well above the average estimate of 19 cents per share among analysts polled by FactSet.

Sales increased by 81 percent last year to 304 million â € 24,000,000 dollars higher than analysts ‘expectations.

LinkedIn income outlook for the current quarter and all of 2013 were roughly in line with analysts’ estimates, paving the way for the company to financial barriers to detect again.

management forecasts for annual sales of $ 1.4 billion this year seems sensible, because it would lead to an increase of about 45 percent last year. In 2012, the annual income LinkedIn grew by 86 percent.

“We try a conservative approach to use the year-on-year growth, “he told analysts during a conference Sordello analysts.