business

A little more than a month after Foursquare gave its users a redesigned interface, the location-based social network has unveiled a new way for merchants to communicate with customers in real time.

The new feature, called Local Updates, began rolling out today, providing what is essentially a status update for the nearly 1 million merchants who have claimed venues on the social service. The free-to-use service allows merchants to post text messages, special promotions, and photos to the Foursquare activity feeds of loyal patrons who are in the vicinity.

"The best part is there's no extra work for … Read more

TiVo is attempting to expand its knowledge of its customers with the purchase of a television advertising-effectiveness firm.

The DVR maker announced today that it has agreed to acquire TRA, a company that has developed a database to link the ads people watch in the home to what they actually buy. According to TiVo, TRA currently works with 45 brands and 27 television networks to track advertising effectiveness. TRA's service is matching customer transactions to ads in 1.5 million homes.

"With this new level of unique audience insights and analytics, TiVo will be able to provide insights … Read more

Samsung plans to acquire CSR's handset connectivity and location development operations and technology, the companies announced today.

Under the terms of the deal, Samsung will hand over $310 million to the semiconductor company to take control over its "Handset Operations." In addition, Samsung will take on all 310 CSR employees operating in those divisions.

CSR says that Samsung will also invest $34.4 million into its operation in return for a 4.9 percent equity stake.

"I believe that under Samsung's ownership the handset operations will be in a better position to prosper in the … Read more

Though there's talk of the economy slowly but surely making a comeback, layoffs in the tech sector hit their highest level in three years during the first half of 2012, according to a report released today by outplacement firm Challenger, Gray & Christmas.

During the first half of the year, 51,529 planned job cuts were announced across the tech sector, representing a 260 percent increase over the 14,308 layoffs planned during the first half of 2011. Things are so bad so far this year that the figure is 39 percent higher than all the job cuts recorded … Read more

Vivendi is working on offloading its 61 percent stake in Activision, according to a new report.

The company has already contacted some companies to take its $8.1 billion stake in Activision, but so far, no firms have taken the bait, Bloomberg is reporting today, citing sources. The news outlet says that Vivendi tried setting up a deal with Microsoft, but the software giant has, for now, decided against it. Disney has also declined a deal offer.

Vivendi bought a stake in Activision back in 2007 for $1.7 billion. Since then, the company has watched Activision Blizzard become the … Read more

AOL announced two substantial changes to its business this morning.

First up, the company says it has promoted CFO Artie Minson Jr. to chief operating officer. In his new role, Minson will be in charge of three new units AOL that has established as part of a reorganization focused on "driving growth and improved profitability."

According to AOL, it's business will now be aligned in three distinct operating groups -- AOL Membership, Content Brands, and Advertising.com. All three operating units will report directly to Minson. A fourth group, made up of sales, technology, communications, brand marketing, … Read more

I've attended New Music Seminars in NYC before, but this year's event definitely had more passion and spirit. The subheading of this year's festival, "Appetite For Disruption," hinted at the possibilities. The shindig's hub, the old Webster Hall concert venue, hosted nonstop action, and there were more goings-on at 17 clubs and music halls in Manhattan and Williamsburg (Brooklyn).

Guest speakers ran the gamut, from heavyweights like Bob Pittman, CEO of Clear Channel; Lyor Cohen, CEO and chairman of the Warner Music Group; Steve Boom, Amazon's VP for Digital Music; Steve Savoca, head … Read more

A U.S. House of Representatives committee chairman has sent a letter to the Securities and Exchange Commission, asking what went wrong with Facebook's recent IPO and suggesting that it's time to overhaul the landmark Securities Act of 1933.

"As we consider means to improve capital formation, we must revisit the Securities Act of 1933," Rep. Darrell Issa (R-Calif.) wrote on behalf of the House Committee on Oversight and Government Reform in a letter obtained by The Wall Street Journal. "The investment banks were given almost 80 years to enjoy this flawed law, fraught with … Read more

Barnes & Noble's Nook business had a mixed fiscal year, the company reported today.

During the 12-month period that ended April 28, Barnes & Noble's Nook business, which includes e-reader, accessories, and digital content sales, posted revenue of $933 million, representing a 34.3 percent gain over the $695 million it posted in the prior year. However, the segment's earnings before interest, taxes, depreciation, and amortization (EBITDA) fell from a loss of $209 million in the 2011 fiscal year to a loss of $262 million.

Barnes & Noble had other financial details to share as well. The … Read more