Altered landscape for Sony, Microsoft consoles

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjFFVGVWDBcyzAJsB2yRXk8QCX2fA0oHm6Y3aYI3RoxPZfNpQv9h-OZJf17O8w0thSgwKE_Jn8hT007T1TYHRZ0SUSShsqRuXtZg3y5N-W00lbhBkB19k9sDyuNm7BEPuCGazCYt1bh3YsH/s1600/Altered+landscape+for+Sony,+Microsoft+consoles.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjFFVGVWDBcyzAJsB2yRXk8QCX2fA0oHm6Y3aYI3RoxPZfNpQv9h-OZJf17O8w0thSgwKE_Jn8hT007T1TYHRZ0SUSShsqRuXtZg3y5N-W00lbhBkB19k9sDyuNm7BEPuCGazCYt1bh3YsH/s1600/Altered+landscape+for+Sony,+Microsoft+consoles.JPG" /></a></div> <b>NEW YORK: Remember a time before "Angry Birds," the iPad and the iPhone? No?</b><br /> <br /> When Sony and Microsoft last came out with new video game consoles — seven and eight years ago, respectively, the companies touted the machines' high-definition graphics, powerful processors and ability to play DVDs, and in Sony's case, Blu-ray discs.<br /> <br /> But a lot has changed since then. People are playing games on a broader array of devices than ever before, and they have more options to stream movies, TV shows and music. Connecting with friends online is the norm, not an obscure activity for young people.<br /> <br /> That's the world the Sony's PlayStation 4 and Microsoft's Xbox One enter. The PlayStation 4 goes on sale Friday and the Xbox One will be released next week. As Sony and Microsoft once again spar this holiday season over who has the brawnier machine and more enticing online features, hardcore gamers are all but certain to fall for the shiny, powerful new consoles. But what's less clear is how the gadgets will compete for the attention of people who now look to their tablets, smartphones and other devices for entertainment.<br /> <br /> "It's turning out that these consoles, in fighting each other for the love of the hardcore gamer, run the risk of failing to capture people in their homes," says James McQuivey, an analyst with Forrester Research.<br /> <br /> Both Microsoft and Sony position their gaming systems as entertainment devices meant to take over the living room. The Xbox 360 started streaming movies from Netflix in 2008 and the PlayStation 3, which already served as a Blu-ray player, soon followed, along with a bevy of other entertainment options. Experts wondered whether gaming systems would soon replace cable set-top boxes.<br /> <br /> Not so fast, was the reply from a host of other gadget makers. Along came Google's Chromecast, the Roku player, Apple TV and, of course, a slew of tablets. There are many ways to stream movies, TV and music into the home now. In that sense, the Xbox One and the PlayStation 4 are no longer in a traditional, head-to-head battle.<br /> <br /> While game console sales have been falling in the U.S., the worldwide video game market is growing, helped by mobile and online games and downloadable console games. Those sales are more than making up for a declining demand for game discs. Gartner Inc. expects the total video game market to hit $93.3 billion this year, up from $78.9 billion in 2012. The research firm sees the market rising to $111 billion by 2015.<br /> <br /> Both new gaming systems are expected to be in brisk demand around the holidays. Sony expects to sell 5 million units of the PlayStation 4 by the end of its fiscal year in March. The PlayStation 3, in comparison, sold 3.5 million units in that time period seven years ago. Microsoft declined to offer a sales outlook for the Xbox One through the holidays, but demand should be comparable, says Wedbush analyst Michael Pachter. He expects 3 million Xbox Ones to be sold through December and 4.5 million through March.<br /> <br /> Why does the PlayStation get a slight edge? Price could be one reason. The Xbox One, which includes an updated Kinect motion sensor, will cost $500, which is $100 more than the PlayStation 4. In contrast, the PlayStation 3 went on sale at $500 or $600 depending on the model in November 2006 while the Xbox 360 cost $400. Most new game software costs $60.<br /> <br /> Dan Perkins, a gamer who's on the fence about which console to buy, says the "price is certainly a factor" nudging him toward a PS4 purchase — even though he was previously an Xbox man.<br /> <br /> "I bought the Xbox 360 primarily because I preferred the titles it offered to the PS3. A major contributor to this decision was the 'Mass Effect' trilogy, which was initially unavailable on the PS3 at the time of my purchase," says Perkins, 40, a librarian from Syracuse, N.Y. "Neither platform has the edge on games in my opinion," he says. "In the end though, a big factor will be which system my friends adopt."<br /> <br /> The friend factor is why Pedro Amador-Gates decided to stick with the Xbox. The 37-year-old first-time father says he did consider switching, but the PlayStation didn't have a chance. He likes his interface, his username is already set up and his gaming achievements will carry over to the new machine.<br /> <br /> "Ninety percent is because I am already established in the Xbox community," he says.<br /> <br /> Then again, neither the Xbox One nor the PlayStation 4 is backward compatible, meaning the machines don't play games that were made for their predecessors. That gives players a clean slate to start with a whole new set of games.<br /> <br /> "Everyone is starting over to some extent," Stein says.<br /> <br /> The console makers' challenge will be to ensure that everyone does start over, instead of sticking with their own game console or perhaps buying an iPad instead of a new game machine. Tony Bartel, the president of the world's largest videogame retailer, GameStop, expects the new consoles will be in "high demand and short supply" due to a huge pent-up demand for new gaming. After all, unless they bought the Wii U last year, people have been playing the same consoles since before the iPhone came out.<br /> <br /> "There's tremendous demand for innovation," Bartel says.<br /> <br /> Given the choice between an iPad and a PlayStation 4, Sony believes its consoles have an advantage during the holiday shopping season.<br /> <br /> "One purchase offers something that everyone in the family can enjoy together," says Andrew House, president and CEO of Sony Computer Entertainment. "Whereas the other is a single-person experience." (Reuters)<br /> <br /> <b>AFP</b></div>

AFP Altered landscape for Sony Business Microsoft consoles new york reuters world Altered landscape for Sony, Microsoft consoles

NEW YORK: Remember a time before "Angry Birds," the iPad and the iPhone? No? When Sony and Microsoft last came out with new v...

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Warhol painting fetches record $105mn at NY auction

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHlRnUxGUc4_g8JQv-H92U69twoE15Fhdy2Cgv5CuLt9eTh213l-fJQqUHkiXyZUGzmePWIgo8X7YSbxFFQz7qJ-OEFVirPLIkExhWq3hHZ1n8K3xzRhS9yk43nxZEcvpUVNxu61IqpFpK/s1600/Warhol+painting+fetches+record+$105mn+at+NY+auction.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHlRnUxGUc4_g8JQv-H92U69twoE15Fhdy2Cgv5CuLt9eTh213l-fJQqUHkiXyZUGzmePWIgo8X7YSbxFFQz7qJ-OEFVirPLIkExhWq3hHZ1n8K3xzRhS9yk43nxZEcvpUVNxu61IqpFpK/s1600/Warhol+painting+fetches+record+$105mn+at+NY+auction.JPG" /></a></div> <b><br /></b> <b>NEW YORK: A prized 1963 Andy Warhol painting that captures the immediate aftermath of a car crash sold for $105 million Wednesday at a New York City auction, setting a record for the famed pop artist, Sotheby's said.</b><br /> <b><br /></b> The 8- by 13-foot painting titled "Silver Car Crash (Double Disaster)" depicts a twisted body sprawled across a car's mangled interior. It has only been seen once in public in the past 26 years. The buyer wasn't immediately identified.<br /> <br /> The previous Warhol auction record was set in 2007 when "Green Car Crash (Green Burning Car I)" sold for $71.7 million. An iconic Warhol called "Coca-Cola (3)" sold for $57.2 million Tuesday at Christie's auction house.<br /> <br /> The high bidding came just a day after the most expensive work of art ever sold at auction went for $142.4 million to conclude six minutes of feverish bidding at Christie's. The hefty price tag for a 1967 Francis Bacon triptych called "Three Studies of Lucian Freud" shattered the previous world record - nearly $120 million paid for Edvard Munch's "The Scream" at a 2012 Sotheby's sale.<br /> <br /> Christie's said the winning bid went to Acquavella Galleries. It is believed that the New York City gallery was buying it for an unidentified client.<br /> <br /> Buyers from Asia, the Middle East and Russia play a big role in the contemporary art market, said Richard Feigen, an art dealer and collector whose Manhattan gallery, Richard L. Feigen & Co., has works spanning from the 14th century to contemporary art.<br /> <br /> "The demand for seminal works by historical important artists is truly unquestionable, and we will keep witnessing new records being broken," said Michael Frahm, a contemporary art adviser and partner at the London-based Frahm Ltd. "This is the ultimate trophy hunting."<br /> <br /> Christie's said Tuesday's sale brought in more than $691.5 million, the highest total for any single auction in history. (AP)</div>

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NEW YORK: A prized 1963 Andy Warhol painting that captures the immediate aftermath of a car crash sold for $105 million Wednesday at a N...

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Microsoft announces $40b share buyback

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsLHCWLTsVl9d6Z5gW5i6kfn4KGa231fW6-D5ezwc44Fn5g54NrlmG1cRVm8s9O1a-Bnx9sRh9QTiC2-9QEcyz9j1Ppd92URDf1hGfUpLRnebzzK9zCPToFpGkv0-EV_Ps3iOMFJjOrAK9/s1600/Microsoft+announces+$40b+share+buyback.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="410" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsLHCWLTsVl9d6Z5gW5i6kfn4KGa231fW6-D5ezwc44Fn5g54NrlmG1cRVm8s9O1a-Bnx9sRh9QTiC2-9QEcyz9j1Ppd92URDf1hGfUpLRnebzzK9zCPToFpGkv0-EV_Ps3iOMFJjOrAK9/s640/Microsoft+announces+$40b+share+buyback.PNG" width="640" /></a></div> <b>NEW YORK: Microsoft announced a new $40 billion share buyback on Tuesday as part of an effort by the transitioning US tech giant to return more cash to stockholders. </b><br /> <br />  The tech giant, which has seen its stock stagnate in recent years, also said it was increasing its dividend by 22 percent to 28 cents a share.<br /> <br /> The new share buyback comes on the heels of another share repurchase plan announced in 2008, which was set to expire on September 30.<br /> <br /> “These actions reflect a continued commitment to returning cash to our shareholders,” said Microsoft chief financial officer Amy Hood in a statement.<br /> <br /> The move comes with Microsoft in transition, having announced the departure of chief executive Steve Ballmer within a year.<br /> <br /> Microsoft, which is trying to refocus the company around “devices and services” after missing the transition to mobile computing, also recently announced it was buying the mobile phone division of Nokia.<br /> <br /> The maker of Windows software had been the undisputed leader of the tech sector for years, but recently has been overtaken in market value by Apple and Google.<br /> <br /> Microsoft shares rose 0.6 percent to $33.00 in early trade on Wall Street. A buyback generally boosts the value of a stock by reducing the number of outstanding shares.<br /> <br /> Microsoft has more than $70 billion in cash holdings, much of which is held overseas. Like Apple and some other tech firms, Microsoft has held off repatriating the cash which could be subject to the top corporate tax rate of 35 percent.<br /> <br /> The company has sent out invitations to a September 23 event at which it is expected to unveil new Surface tablets to challenge iPads and Android devices dominating the market.<br /> <br /> The event to be held in New York comes as the US technology giant struggles to remain relevant as Internet age lifestyles shift from traditional computers to smartphones and tablets.<br /> <br /> The company was forced to take an embarrassing $900 million writedown this year for “inventory adjustments” due to a poor reception of the tablet. It also cut the price of the Surface.<br /> <br /> Microsoft is also holding its analyst day this week, where it will discuss its strategy and rationale for the Nokia acquisition.<br /> <br /> “Investors remain unconvinced of the logic behind the Nokia deal, thus management should clearly articulate why a smartphone presence is critical to the long-term success of Office and Windows,” Barclays analyst Raimo Lenschow said in a note to clients.<br /> <br /> “Additionally, with many long-only investors unsure about how the new strategy will affect Microsoft’s financial model, we expect goalposts to be provided to help investors understand how the transition will play out.”<br /> <br /> Lenschow said the buyback plan was in line with expectations, but that the time frame for the program was not clear.<br /> <br /> In the most recent quarter, Microsoft posted a profit of $4.97 billion, held back by the writedown for Surface.<br /> <br /> Microsoft said its results were helped by growing revenues from business services, which offset the hit from a lagging market in personal computers.<br /> <br /> Microsoft’s Windows remains the dominant platform for personal computers, but the PC market is being overtaken by tablets and other mobile devices.<br /> <br /> A Gartner survey figures showed a worldwide drop of 10.9 percent in PC sales in the second quarter compared with the same period a year ago, with PC shipments falling to 76 million units.<br /> <br /> A separate survey by IDC projects that tablet shipments would surpass total PC shipments in the fourth quarter of 2013.<br /> <br /> <b>AFP</b></div>

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NEW YORK: Microsoft announced a new $40 billion share buyback on Tuesday as part of an effort by the transitioning US tech giant to retur...

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Miss New York crowned 2014 Miss America

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjSjXqeLADn7p1W7ZlhyphenhyphenGDhI7PtBXE_iuNDcQH03mX14eLZ2x5zznD5hrwEK2z7evn1um4piZ_79fndh2lq56UkG5OCtNo2b3hM8sqap5eRywtmqAhBVP4VguYc7R7wzQI5q5Xm8vll4bHn/s1600/Miss+New+York+crowned+2014+Miss+America.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjSjXqeLADn7p1W7ZlhyphenhyphenGDhI7PtBXE_iuNDcQH03mX14eLZ2x5zznD5hrwEK2z7evn1um4piZ_79fndh2lq56UkG5OCtNo2b3hM8sqap5eRywtmqAhBVP4VguYc7R7wzQI5q5Xm8vll4bHn/s1600/Miss+New+York+crowned+2014+Miss+America.PNG" /></a></div> <b>ATLANTIC CITY: Nina Davuluri became the second consecutive contestant from New York to win the Miss America pageant. </b><br /> <br /> Davuluri won the title as the nationally televised pageant returned home to Atlantic City. <br /> <br /> She succeeds another Miss New York, Mallory Hagan, whose tenure was cut short when the pageant moved back to Atlantic City after a six-year stint in Las Vegas, where winners were chosen in January.<br />   <br /> Davuluri performed a classical Bollywood fusion dance for her talent competition. She is the first winner of Indian descent. <br /> <br /> After the traditional frolic in the Atlantic City surf Monday morning, she will head to the scene of a devastating boardwalk fire in Seaside park and Seaside Heights Monday afternoon.<br /> <br /> <b>AFP</b></div>

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ATLANTIC CITY: Nina Davuluri became the second consecutive contestant from New York to win the Miss America pageant. Davuluri won the t...

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Oil prices mixed in Asian trade

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2tWsmGb3DzdeTLToMnTZGkv-5oDIdk7c70vjiTnCtG3wB148OQlJowt-8x8bzKE_c5ohR9uB0kHrEItwALLrJF2KtDokc9TdpAbMo_JXvhpcoErdXt97ThbzpMRmM6MEY3l-c6uvGGuM/s1600/Oil+prices+lower+ahead+of+US+crude+stockpiles+data.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2tWsmGb3DzdeTLToMnTZGkv-5oDIdk7c70vjiTnCtG3wB148OQlJowt-8x8bzKE_c5ohR9uB0kHrEItwALLrJF2KtDokc9TdpAbMo_JXvhpcoErdXt97ThbzpMRmM6MEY3l-c6uvGGuM/s1600/Oil+prices+lower+ahead+of+US+crude+stockpiles+data.jpg" /></a></div> <b>SINGAPORE: Oil prices were mixed in Asian trade Wedenesday after climbing in New York as Concerns over a US-led military strike on Syria returned.</b><br /> <b><br /></b> New York's main contract, West Texas Intermediate for delivery in October, eased 26 cents to $108.28 in mid-morning trade, while Brent North Sea crude for October gained 12 cents to $115.80.<br /> <b><br /></b> <b>AFP</b></div>

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SINGAPORE: Oil prices were mixed in Asian trade Wedenesday after climbing in New York as Concerns over a US-led military strike on Syria ...

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Defending champ Serena Williams into US Open last 16

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="separator" style="clear: both; text-align: center;"> <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkpQRUd0pcKgq4ezVM_WZEZrZvvDzbU4gF3PvgEHQkAspgwExzNwUVb6ZIAIHafOuCl7wvtox6vElqy__zK3odKRZASL-2FFSqA2-Rkoyt117RH6dvV-IkHkxvfR9WSLIEbGAewmJR7X47/s1600/Defending+champ+Serena+Williams+into+US+Open+last+16.PNG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkpQRUd0pcKgq4ezVM_WZEZrZvvDzbU4gF3PvgEHQkAspgwExzNwUVb6ZIAIHafOuCl7wvtox6vElqy__zK3odKRZASL-2FFSqA2-Rkoyt117RH6dvV-IkHkxvfR9WSLIEbGAewmJR7X47/s1600/Defending+champ+Serena+Williams+into+US+Open+last+16.PNG" /></a></div> <b>NEW YORK: Top-ranked defending champion Serena Williams advanced to the fourth round of the US Open early Saturday morning with  a 6-3, 6-1 victory over 78th-ranked Yaroslava Shvedova of Kazakhstan.</b><br /> <b><br /></b> The 74-minute victory sends Williams into a showdown against US 15th seed Sloane Stephens, who upset the 16-time Grand Slam champion in the Australian Open quarter-finals last January.<br /> <br /> <b>AFP</b></div>

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NEW YORK: Top-ranked defending champion Serena Williams advanced to the fourth round of the US Open early Saturday morning with  a 6-3, 6...

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