NewsReel: India has no national game, Color labs to be acquired by Apple

Here goes the Newsreel, our daily news roundup.

- According to an information yielded through RTI query filed by a class-VII student, Aishwarya Parashar, India has no national game, quite contrary to popular perception that Hockey is country’s national game, read complete post here.

- Q4 2011: $1.3 billion loss, Q1 2012: $1.7 billion loss, Q2 2012: $1.01 billion loss, Q3 2012: $754 million loss. It seems that Nokia’s financial measures may finally be having the desired effect as the Finnish phone maker records its first sub-billion dollar quarterly loss for a year, read complete post here.

- Consim Info has appointed Jayaram K Iyer as Chief Strategy Officer. JK prior to taking up the position as CSO was professor at LIBA.

- Newsweek is ending its print edition and transitioning to an all-digital format by the end of 2012, editor Tina Brown announced on Thursday. The magazine has been in print since 1933. However, it will end after its Decmber 31 issue. The all-digital tablet edition will be called Newsweek Global and slated to launch in early 2013, read complete post here.

Recommended Read : Future of News (in India).

- Lifestyle etailer – Myntra has launched Style Studio, a virtual dressing room to assist shoppers and enable them to virtually try merchandises before they buy. With Style Studio feature, shoppers can mix and match products, save their favourite looks and share them with their circle of friends using Facebook and Twitter, read complete post here.

Also Read: The ecommerce business behind virtual dressing rooms.

- Are you a bajji and bonda freak? And want to savour different tastes of many sold across petty shops in Bangalore. Here is Bangalore Bajji Bonda Map (BBBMP), created by Jahnavi Pai through using Google maps. Launched in August, BBBMP has more than 3,000 views, and features many places, right from hotels, petty shops to roadside vendors, who sell a variety of bajji, bonda and other snacks.

View Larger Map

- Big data will drive $232 billion in spending through 2016. It will directly or indirectly drive $96 billion of worldwide IT spending in 2012, and is forecast to drive $120 billion of IT spending in 2013, read complete post here.

- eBay has released its Q3 earnings, reported third quarter net income on a GAAP basis of $597 million, or $0.45 per diluted share, and non-GAAP net income of $718 million, or $0.55 per diluted share. GAAP and non-GAAP net income were up 22% and 14%, respectively, year over year due primarily to strong top-line growth. PayPal ended the quarter with 117.4 million active registered accounts, a 14% increase over the third quarter of 2011. Revenue increased 23% year over year, to $1.4 billion, read complete post here.

- Color Labs, the photo-and-video-sharing social network , which grabbed much criticism over its pre-launch $41 million funding round, is about to be acquired by Apple. According to the sources,  Color Labs was nabbed for a price that is in the ‘high double digits’, as in millions, and that the deal is done, though papers have yet to be signed, read complete post here.

- Apple’s iPhone lineup accounts for nearly half of all internet traffic generated by smartphones in the U.S. and Canada, beating out the market share of next-closest competitor Samsung by over 30 percent, according to research provided by ad network Chitika. Read complete post here.

- Twitter has used country-by-country blocking powers for the first time to restrict access to a neo-Nazi Twitter account in Germany at the request of local authorities. Twitter users outside Germany can still view content from the @hannoverticker Twitter account of the banned group, but users trying to access it from within Germany will see a message saying the account is being withheld, read complete post here.