Daily Archives: August 10, 2011

Apple has removed a top-selling music downloading application from its App Store after complaints from record labels that it could facilitate copyright infringement.

The literally titled “Free Music Download” was published in mid-July by Hong Kong-based Zentertain. Available in both free and “pro” versions, the latter costing around 99c/69p, the app had topped the App Store download charts in the US, UK and 17 other countries. Read more

By dropping its controversial method of conjuring up profits from losses after a review by the SEC, Groupon has cleared one of the distractions around its forthcoming IPO. Now, investors can focus on the things that really matter: whether its customers like what they are getting enough to keep coming back for more, and how well its model will perform in an economic downturn. Read more

Apple’s flirtation with the top spot in the list of the world’s largest companies by market capitalisation – which would end a six-year reign by ExxonMobil – is the sort of market trivia that we journalists love.

Perhaps it’s because rankings are so easy to understand, and a ranking voted on every day has added spice. Apple nearly went under a decade ago, which further enlivens this tale of corporate success. But given the capriciousness of markets, the other main point of interest is that Exxon has managed to hold the top position, with brief interruptions, for so long. Read more

When Robin Li, Baidu’s chief executive, gave an interview to the Financial Times in March, he made some enigmatic remarks, writes Kathrin Hille in Beijing.

Asked about what he intended to do to make sure Baidu, China’s largest online search engine, would not lose out in the rapid rise of the microblogs in China, he said: “Baidu is not in the social media business.” Read more

Tech news from around the web:

Facebook has launched Facebook Messenger, a mobile app of Facebook Chat and Facebook Message, VentureBeat reports. The app allows Facebook users to send real-time messages and fully integrates with Facebook profiles, Facebook Chat and Messages. Mashable reports that the app is currently the number one free app in the iTunes App Store. Read more