August 23, 2013, 9:40 AM

Top News

Microsoft CEO Steve Ballmer to retire within 12 months  —  Board of directors initiates succession process; Ballmer remains CEO until successor is named.  —  Microsoft Corp. today announced that Chief Executive Officer Steve Ballmer has decided to retire as CEO within the next 12 months …
Moving forward  —  Text of an internal email from Microsoft chief executive officer Steve Ballmer to employees regarding his plan to retire.  —  I am writing to let you know that I will retire as CEO of Microsoft within the next 12 months, after a successor is chosen.
jessica lessin:
Exclusive: Apple Buys (Another) Map App, Embark  —  Apple Inc. keeps snapping up mapping companies.  —  The latest: Embark Inc., a small Silicon Valley upstart that builds free transit apps to help smartphone users navigate public transportation.  —  We don't know how much Apple paid …
Amazon Is Said to Have Tested a Wireless Network  — Inc. (AMZN) has tested a new wireless network that would allow customers to connect its devices to the Internet, according to people with knowledge of the matter.  —  The wireless network, which was tested in Cupertino …
Kara Swisher / AllThingsD:
Uber Filing in Delaware Shows TPG Investment at $3.5 Billion Valuation; Google Ventures Also In  —  According to a Delaware filing by Uber Technologies, it has sold stock in the fast-growing privately held transportation service to private equity giant TPG.  In addition, according to sources …
Google Ventures Puts $258M Into Uber, Its Largest Deal Ever  —  A Certificate Of Incorporation unearthed by AllThingsD today shows that Uber has closed $361.2 million in its latest round.  It's unknown why TPG, which picked up 775,092 shares, paid a lower per-share price than the other participants.
Anthony Ha / TechCrunch:
Pandora Plans To Lift Its 40-Hour Free Mobile Listening Cap On Sept. 1  —  During this afternoon's earnings call, Pandora executives said that they would lift for the 40-hour monthly cap on free mobile listening that was announced back in February.  —  This is actually the second time Pandora …
Aries Poon / Digits:
Google Buys Patents From Apple Ally Hon Hai  —  Hon Hai Precision Industry Co., known for its close ties to Apple Inc., said Friday it sold some display patents to Google Inc.  —  The Apple and iPad assembler didn't specify a value for the deal or expound on details, except to say the patents sold …
Andrew Mayeda / Bloomberg:
Canada's Moore Says BlackBerry Must Revive by Itself  —  Canadian Industry Minister James Moore said it's up to BlackBerry Ltd. (BB) to pull off a turnaround on its own, signaling the government has no plans to intervene in the struggling smartphone maker's future.
Kevin C. Tofel / GigaOM:
Chrome OS users gain immersive mode and more in stable channel update  —  All Google Chromebooks, save one particular model, have a software update waiting for them.  Google announced the update for the Chrome OS Stable channel Thursday, saying it would roll out over the next several days …
Daniel Cooper / Engadget:
Google applies for location-based security patent, locks down your phone on the go  —  Google's knack with location services helps us to get around, but hopefully, that same tech will serve to keep our devices safe in the future.  Mountain View has applied to patent a system that modifies …
Chris O'Brien / Los Angeles Times:
Apple mega-investor Icahn, CEO Tim Cook to talk buyback over dinner  —  Carl Icahn tweeted that he and Apple Chief Executive Tim Cook would talk over dinner about the size of the company's stock buyback.  (Associated Press)  —  Investor Carl Icahn revealed plans to have dinner …
Lee Chyen Yee / Reuters:
Huawei, ZTE win bulk of China Mobile's $3 billion 4G bonanza: sources  —  (Reuters) - China Mobile Ltd has awarded initial 4G contracts worth around 20 billion yuan ($3.2 billion), with Chinese firms securing more than half of the biggest prize in the global telecoms industry this year …
Dan Primack / Fortune:
Sorry Twitter: Your IPO won't be ‘low profile’  —  Twitter has an unreasonable request for its prospective IPO bankers.  —  FORTUNE — Twitter is beginning to speak with bankers about its inevitable IPO, according to the New York Post.  No real surprise, except for this quote: … Say what now?
The Independent:
Exclusive: Edward Snowden leaks reveal UK's secret Middle-East internet surveillance base  —  Data-gathering operation is part of a £1bn web project still being assembled by GCHQ  —  Britain runs a secret internet-monitoring station in the Middle East to intercept and process vast quantities …
Rafat Ali / Skift:
Travelocity Gives In, Sites To Be Powered by Expedia  —  Travelocity, the online booking site owned by Sabre, has given in to the intense competition in the online booking sector, and gone with the least risky option short of actually selling itself off: it has done a deal with once-competitor Expedia …

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