Spotify to raise $100 mln at $3 bln valuation: Spotify is in the middle of a $100 million financing round that could value the music streaming company at just over $3 billion, the Wall Street Journal reported citing sources. The Journal said Spotify would raise the fresh capital from multiple investors including Goldman Sachs. Read more here.
China to launch new manned spaceship in 2013: China plans to launch its Shenzhou 10 spacecraft in early June 2013, one of the senior officials in charge of the manned space programme said on Saturday, the official Xinhua news agency reported. The launch marks another step forward in Beijing’s ambitions for a bigger presence in space that include the construction of a space station by 2020.Read more here.
IBM surprised by Avantor lawsuit, calls claims exaggerated:IBM, which is being sued by chemicals manufacturer Avantor Performance Materials for fraud and breach of contract in connection with a software project, said the accusations were blown out of proportion and that it was surprised by the move. Read here.
Iran parliament to investigate blogger’s death: Iran’s parliament will investigate the death of a blogger in police custody, a lawmaker said on Sunday following international condemnation of the incident. Sattar Beheshti was arrested in his home on October 30, rights groups reported, after receiving death threats. The 35-year-old who ran an anti-government blog died possibly as a result of torture, Amnesty International said last week. Read more here.
Wall streets million-Dollar Traders Replaced With Machines Amid Cuts: Wall Street’s credit-derivatives traders, who before the financial crisis commanded $2 million of annual pay, are being replaced by machines as banks cut costs and heed new regulations. UBS AG, Switzerland’s biggest bank, fired its head of credit-default swaps index trading, David Gallers, last week, with no plan to fill the position, according to two people familiar with the matter. Instead, the bank replaced Gallers with computer algorithms that trade using mathematical models, said the people, who asked not to be identified because moves are private. Read more here.
UK court orders Apple to pay Samsung’s lawyers on an indemnity basis: An appeal court in the United Kingdom hearing Apple vs. Samsung patent case ordered on Friday that the Cupertino-based tech giant has to pay legal fees of the latter’s lawyers following Judge Robin Jacobs’ finding that Apple lacked integrity, especially in the public apology it posted on its website, and that it was reluctant in carrying out court’s order. Jacobs believe the statement posted on Apple’s UK webpage was false and misleading. Thus, a decision has been made that, as a sort of punishment, the company has to pay Samsung’s legal counsel on an “indemnity basis.”
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