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Federal Reserve Chairman Alan Greenspan on Friday urged Congress to modernise U.S. financial laws but warned that some government oversight must be maintained to avert financial catastrophes. A top priority of regulators, Greenspan said after a speech at a Federal Reserve Bank of Atlanta conference here, is to prevent ...
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The Clinton administration will modestly revise controversial export rules for computer encoding technology after a private meeting Wednesday with computer and telecommunications companies, a top Commerce Department official said. "This is a work in progress," Under Secretary of Commerce William Reinsch said in a telep...
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U.S. banks will be able to significantly increase their securities underwriting activities under a rule adopted Friday by the Federal Reserve, but that will only add pressure on Congress to overhaul the entire regulatory system, market participants said. The Fed voted unanimously to allow so-called section 20 subsidiar...
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Fast running out of options, federal credit unions are hoping the Supreme Court will decide Friday to wade into the midst of their six-year legal battle with the banking industry. The Supreme Court's nine justices are expected to decide whether or not to hear the credit union case, lawyers involved in the case said. Th...
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The Internet could provide a huge boost to the U.S. economy if the federal government pursues "free market" policies in cyberspace, a group of President Clinton's top advisers says in a draft report obtained by Reuters. The group, an interagency task force headed by senior presidential adviser Ira Magaziner, recommende...
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Legislators introduced two bills Thursday to overturn the Clinton administration's export limits on computer encryption technology, a key component of online commerce and global communications. Encryption products, which scramble information and render it unreadable without a password or software "key," were once the r...
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The growing mass of Internet users have paid their fair share to local telephone companies and pose little threat to the phone system, according to a study released on Wednesday by a coalition of Internet and computer companies. The coalition presented the report to counter studies by local phone companies released las...
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The Federal Communications Commission has tentatively decided not impose fees on Internet service providers for use of local telephone lines, an official said Thursday. On Tuesday, the commission issued a notice of proposed rulemaking setting out two possible plans for reducing the $23 billion a year that long-distance...
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A computer scientist barred from exporting a floppy disk containing computer encryption programming asked a federal court Friday to strike down the export limits as a violation of his right to free speech. Philip Karn challenged the rules after the State Department in 1994 denied his request to export the programming o...
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A group of leading trademark specialists plans to release recommendations aimed at minimizing disputes over Internet address names. The International Trademark Association is working on a white paper that will be completed in the next few months, David Maher, co-chair of the association's Internet issues committee, sai...
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If the Board of Governors of the U.S. Federal Reserve System does as expected early Friday and votes to expand banks' non-banking activities, it will only heighten the drive in Congress to overhaul U.S. banking regulations completely, analysts and industry officials said. The Fed is expected to vote to allow banks' sec...
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The U.S. Postal Service announced Wednesday a plan to boost online commerce by enhancing the security and reliability of electronic mail traveling on the Internet. Under the plan, businesses and consumers can verify that e-mail has not been tampered with and use services now available for ordinary mail like sending a c...
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Several U.S. legislators are planning to introduce measures soon to relax export restrictions on encryption technology, an increasingly essential part of global communications and online commerce. Last year, the Clinton administration relaxed some of the Cold War era export limits on the technology, specialized compute...
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The Commodity Futures Trading Commission, one of the nation's primary regulators of derivatives, has no authority over most foreign currency transactions, the Supreme Court said Tuesday. In a unanimous decision, the court ruled that a 1974 law exempting some transactions in foreign currency from CFTC oversight also exe...
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When a company in California sells a book to a consumer in Canada from a Web site hosted on a computer in England, what laws govern the transaction? As sales of all kinds of goods over the Internet continue to grow, questions are multiplying about basic regulations covering consumer protection, taxation and other issue...
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The growing business of doing business on the Internet poses a major challenge to tax collectors, but no special taxes should be imposed in cyberspace, the government said in report released Thursday. "Treasury believes that these new technologies should not be used to justify new taxes," the Treasury Department draft ...
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An international task force working to resolve the simmering controversy over desirable addresses on the Internet released a draft plan Friday for a substantial expansion of the total number of destinations. The International Ad Hoc Committee on domain names, formed by the Internet Society in October, recommended that ...
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An influential Internet organisation has backed away from a proposal to dramatically expand the number of addresses available on the global computer network. The Internet Society, which helps develop and coordinate Internet standards, announced this week that instead of moving ahead with the proposal it would form a ni...
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Internet access providers and others who met with Net-savvy lawmakers said they fear Congress will wreak havoc on cyberspace but are also heartened by the growing number of legislators who understand the global computer network. Company representatives met Tuesday night at the Capitol with members of the Congressional ...
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A scuffle breaking out between a top U.S. bank regulator and the state of Rhode Island could foreshadow an increasing number of disputes as more national banks begin selling insurance products, market participants said. The Office of the Comptroller of the Currency said last month it is considering overriding a new Rho...
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A leading software industry group is backing away from its early support of the Clinton Administration's new policy to ease export rules on computer encoding technology. In a letter to vice president Al Gore, the Business Software Alliance, which includes Microsoft Corp and International Business Machine Corp's Lotus D...
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An international task force charged with resolving the simmering controversey over desirable Internet address names released a draft plan Friday to expand the total number of addresses substantially. International Ad Hoc Committee on domain names, formed by the Internet Society in October, said seven new "top level dom...
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The Federal Communications Commission proposed Tuesday to trim the $23 billion a year that long-distance telephone companies pay to local service providers in access fees. But the commission ducked the contentious issue of whether such charges should be imposed on Internet service providers, asking for comment on the i...
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House Banking Committee chairman Jim Leach introduced a bill on Tuesday aimed at remaking the regulatory landscape for banking and other financial services in the United States. A similiar bill Leach introduced in the previous Congress foundered last June amid opposition from the insurance industry and House Democrats....
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Internet access providers and others who met with Net-savvy lawmakers said they fear Congress will wreak havoc on cyberspace but are also heartened by the growing number of legislators who understand the global computer network. Company representatives met Tuesday night at the Capitol with members of the Congressional ...
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Hewlett-Packard Co. unveiled a new plan Monday to boost sales of computer encoding technology, considered a key component of global communications and the development of commerce over the Internet. The plan is intended to foster the growth of online commerce worldwide while still abiding by strict U.S. export laws limi...
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Internet access providers and others who met with Net-savvy lawmakers said they fear Congress will wreak havoc on cyberspace but are also heartened by the growing number of legislators who understand the global computer network. Company representatives met Tuesday night at the Capitol with members of the Congressional ...
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Just days after a U.S. graduate student cracked the most powerful computer encryption system allowed out of the country, the Commerce Department announced it would allow three companies to export an even stronger system. Until this year, computer encryption programmes, which scramble information and render it unreadabl...
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The Commerce Department will issue final rules on Dec. 30 to implement its new policy on export of computer encoding products, but the proposal is unlikely to mollify the software industry and privacy advocates who objected to a draft version. Some changes were made in the final rules, available Friday at a government ...
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The Supreme Court said Monday it would decide whether a federal regulator had properly allowed credit unions to expand their membership over the past 15 years, settling a long-running legal dispute between the cooperative non-profits and banks. Credit unions praised the court's action to reconsider an Appellate court d...
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U.S. laws governing the trillion dollar futures markets could be rocked by the Supreme Court's interpretation of the word "in" in a case to be argued Wednesday. But a legislative solution is in the offing. At issue is a 1974 amendment to the Commodity Exchange Act, the primary law regulating trading of futures contract...
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Prospects for comprehensive reform of U.S. banking and financial services laws remain bright despite a far-reaching proposal being considered by the Clinton Administration that has upset some banks. Most in government and the industry now agree that the 60-year-old Glass-Steagall Act separating banking from other finan...
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Elementary school students with access to the Internet learned more than kids who lacked access, an indepedent research group concluded after conducting a comparative study in seven urban school districts. "This study dramatically illustrates the positive effects of online use on learning," said Michael Casserly, execu...
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An international Internet group released its plan Wednesday to dramatically increase the number of available addresses in cyberspace while quelling disputes over the use of trademarks in those address names. The International Ad Hoc Committee, which includes members of Internet standards-setting bodies and legal and co...
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The Internet may be overflowing with new technology but crime in cyberspace is still of the old-fashioned variety. The National Consumers League said Wednesday that the most popular scam on the Internet was the pyramid scheme, in which early investors in a bogus fund are paid off with deposits of later investors. The l...
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Supreme Court justices Wednesday sharply questioned rules governing so-called derivative investments and foreign currency trading in a case that could have wide repercussions for both markets. The Commodity Futures Trading Commission has traditionally prosecuted crooks who ripped off the public with fraudulent investme...
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An influential global research group is preparing guidelines on encryption policy for its member countries but will duck some of the most contentious issues involved, according to a draft of the report obtained by Reuters. The Clinton administration, seeking to rally support at home and abroad for its controversial enc...
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An influential economic research group is preparing guidelines on computer encryption for its member countries but will duck some of the most contentious issues involved, according to a draft obtained by Reuters. The Clinton administration, seeking to rally support for its controversial policy on exporting encryption p...
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The Federal Reserve Friday rebuffed a request by the Justice Department to allow U.S. banks to collect data about borrowers as part of an effort to discourage racial discrimination in lending. The unanimous decision put the central bank's board in the unusual position of being at the center of a national debate about h...
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An influential Internet organisation has backed away from a proposal to dramatically expand the number of addresses available on the global computer network. The Internet Society, which helps develop and coordinate Internet standards, announced this week that instead of moving ahead with the proposal it would form a ni...
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The Internet continued to grow in leaps and bounds this year while online services found it much harder to add new customers, a new survey says. An estimated 35 million adults in the United States had used the Internet, according to the poll by Louis Harris and Associates conducted in late September, up from 27 million...
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The Internet continued to grow in leaps and bounds this year while online services found it much harder to add new customers, a survey said Friday. An estimated 35 million adults in the United States had used the Internet, according to the poll by Louis Harris and Associates conducted in late September, up from 27 mill...
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The growing mass of Internet users have paid their fair share to local telephone companies and pose little threat to the phone system, a study by a group of Internet and computer companies said Wednesday. The coalition presented the report to counter studies by local phone companies released last year seeking to justif...
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A break-in at the U.S. Justice Department's World Wide Web site last week highlighted the Internet's continued vulnerability to hackers. Unidentified hackers gained access to the department's web page on August 16 and replaced it with a hate-filled diatribe labelled the "Department of Injustice" that included a swastik...
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The debate over reforming America's financial services sector, a top priority for Congress and the Clinton administration, began in earnest Tuesday. As major industry representatives sat down at a House Banking subcommitee hearing on two pending reform bills, word came that Senate Banking Committee Chairman Alfonse D'A...
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With the Clinton administration busily reworking its 1995 proposal overhauling the U.S. financial services sector, one faction in the Treasury Department is recommending a more far reaching plan this time around, people familiar with the matter said. Under Secretary of the Treasury John Hawke, who oversees an administr...
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The Federal Reserve took another step Friday toward eliminating the barriers between banking and other financial service industries, voting to allow banks to further invade the turf of Wall Street securities firms. The Fed Board of Governors voted unanimously to increase the percentage of revenue bank subsidiaries may ...
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A U.S. District Court judge Wednesday barred new federal regulations that allow credit unions to expand their membership beyond workers at one company, saying this would exceed the legal limits of the institutions. The rules have raised the ire of banks who, fearing the loss of customers, have been battling in court si...
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The various sectors of the U.S. financial services industry will spar over bank reform proposals at a hearing on Tuesday before the House Banking Committee's subcommittee on financial institutions. With most in Congress and industry ready to scrap the Depression-era laws separating banking from other financial services...
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The Federal Reserve took another step Friday toward eliminating the barriers between banking and other financial service industries, voting to allow banks to further invade the turf of Wall Street securities firms. The Fed Board of Governors voted unanimously to increase the percentage of revenue bank subsidiaries may ...
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Netscape Communications Corp., said Tuesday its quarterly revenues hit a record $100 million in the third quarter, demonstrating the surging popularity of its Internet software among companies setting up internal networks known as intranets. Netscape, which pioneered the popular Netscape Navigator browser software for ...
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Diamond Multimedia Systems Inc plans this week to unveil a series of advances in its marketing of enhanced video and audio technologies. On Monday, the company will launch a deal with Toshiba Corp's Toshiba America Information Systems unit to deliver what will be among the first DVD-ROM products to hit the retail marke...
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In the true spirit of the lightning-fast world of the Internet, the browser wars which peaked in late summer have now been replaced by the battle for delivering content efficiently over the Web. The coming months will see an intensifying battle between products that deliver information directly to a computer, rather th...
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Netscape Communications Corp. stock was battered for the second time in less than a week on Tuesday following cautionary comments by a Wall Street analyst regarding the Internet software company. Merrill Lynch analyst Bruce Smith said in a research note that Netscape had scrambled to make its fourth-quarter goals in a ...
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U.S. high tech venture fund investment soared 50 percent in the seasonally-slow third quarter vs. overall U.S. venture investment growth of 25 percent from year-ago levels, according to a survey released by Price Waterhouse Monday. "It is so hot it's scary," Kirk Walden, who compiles the quarterly Price Waterhouse LLP ...
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Netcom On-Line Communication Services Inc has decided to shift its focus to higher-value business services in search of profits, leaving the consumer sector to others. "We've been growing at dizzying rates, what we're saying is we're going to focus more on quality here -- quality of earnings, quality of service to subs...
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Silicon Valley executives and venture capitalists are turning into political sharks, spending millions of dollars to defeat a California ballot measure that they claim threatens American capitalism and could send stock prices reeling. Normally the region, which is the birthplace of such industry stalwarts as Hewlett-Pa...
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Netscape Communications Corp., said Tuesday its quarterly revenues hit a record $100 million in the third quarter, demonstrating the surging popularity of its Internet software among companies setting up internal networks known as intranets. Netscape, which pioneered the popular Netscape Navigator browser software for ...
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A Silicon Valley company has developed a new technology designed to turn the World Wide Web from a random, hit-or-miss quest into a highly targeted personal service that it says can change to suit your mood. The new service, known as The Angle, is available immediately as a showcase for Los Altos, Calif.-based BroadVis...
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Stocks of high-tech companies soared Wednesday after a potentially costly ballot proposal was voted down in California, and top executives found themselves relishing their roles as political activists. A group of top-level entrepreneurs and executives met behind closed doors Wednesday to work on a broader political all...
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Seasoned computer industry executive John Young on Friday begins the search for a strong manager to take the helm of Novell Inc who can drive the company back to growth at the speed of the Internet. Young, 64, was selected by Novell's board of directors on Tuesday to recruit fresh leadership for the struggling maker of...
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WebTV Networks Inc. on Wednesday unveiled a new technology it said enables full-screen, television quality video to be delivered from the Internet through conventional telephone lines. Steve Perlman, co-founder and chief executive of WebTV, said in an interview the new technology will be deployed in upcoming versions o...
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A few years ago, one company led the market for an exciting new technology called groupware, which enabled workers at different locations to use computers to collaborate on business projects. But the rise of the Internet has changed all that, creating new opportunities for using such software more widely and setting th...
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The Silicon Valley entrepreneur who founded Atari Corp. and created Chuck E. Cheese restaurants wants to put high-tech jukeboxes and video games linked to the Internet in bars, hotels and other public places -- and eventually make billions of dollars. "Do you think 'Bubba' can surf the Net? I do," Nolan Bushnell told r...
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A fast-selling product that allows grannies all across America to exchange electronic mail securely with their families may become a key weapon in challenging the U.S. government's tight encryption policies. Computer industry executives said the strong encryption which startup USWeb Networks is delivering on hundreds o...
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Moving to capitalize on enormous growth in the use of laser departmental printers, Hewlett-Packard Co. on Monday will launch a new genre of printers it calls the "mopier," to steal work from the copy machine. The new device, dubbed the HP LaserJet 5Si Mopier, reduces the need to use copiers by allowing workers to make ...
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Five major high tech giants, including Compact Disk inventors Philips Electronics NV and Sony Corp. will on Wednesday unveil details of a new "CD-ReWriteable" (CD-RW) technology. The technology is due to bring re-recordable CD devices to the market in the early months of 1997 at prices below $1,000, and should begin be...
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Silicon Valley executives and venture capitalists are turning into political sharks, spending millions of dollars to defeat a California ballot measure that they claim threatens American capitalism and could send stock prices reeling. Normally the region, which is the birthplace of such industry stalwarts as Hewlett-Pa...
41
Sun Microsystems Inc's newly launched Javastation network computer is its first machine to compete directly with low-end personal computers, but analysts aren't expecting runaway sales just yet. "Maybe a couple of years from now it will begin competing with low-end PCs," said Evan Quinn, an analyst at International Dat...
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KLA Instruments Corp. and Tencor Instruments said Tuesday they will merge in a stock deal that would create a semiconductor capital equipment powerhouse with combined revenue exceeding $1 billion. Analysts said the deal creates a powerhouse in the critical market for semiconductor capital equipment that can be used to ...
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High technology venture fund investment soared 50 percent in the third quarter as overall U.S. venture investment rose 25 percent in the seasonally slow period from year-ago levels, according to a recent survey. "It is so hot it's scary," Kirk Walden, who compiles the quarterly Price Waterhouse LLP National Venture Cap...
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Intel Corp President and Chief Executive Andy Grove said on Monday that by the year 2011, microprocessors may be capable of holding one billion transistors and delivering 100,000 million instructions per second (MIPS). Grove, delivering the opening keynote address at the personal computer industry's Comdex trade show c...
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In the true spirit of the lightning-fast world of the Internet, the browser wars which peaked in late summer have now been replaced by the battle for delivering content efficiently over the Web. The coming months will see an intensifying battle between products that deliver information directly to a computer, rather th...
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An outspoken computer security expert, citing his just-completed study, says up to two-thirds of certain Web sites, including reputable institutions like banks and the media, are vulnerable to hacker attacks. Dan Farmer -- who stirred controversy in 1995 as co-author of software dubbed SATAN that enables people with ba...
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For many computer owners, 1997 will be the year when Internet users will begin to see more features aimed at making the Net more lifelike. But it is also likely to be marked by frequent communications breakdowns caused, in part, by increased demand. "I wrote a year ago about a collapse, but it's really collapses, getti...
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Some of the Internet startups due to make their debut at next week's Comdex computer industry show have little more to their name than a few ambitious entrepreneurs, business cards and a Web site. But the 60 or so companies scheduled to make presentations to prospective investors at the first Comdex Venture Outlook rep...
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A senior executive of Netscape Communications Corp said the company sees no sign of any reduction in the dramatic growth in the market for Internet and intranet, and expects to hold onto a good share of the market. Mike Homer, vice president of marketing, also said in an interview the company currently has around 50 mi...
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Hewlett-Packard Co. is expected to extend its role as a leading supplier of computer printers next week by unveiling the first of a family of devices designed to allow people to bypass the copy machine. Industry sources familiar with details of the new models said they can be used instead of a copier to make multiple p...
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Sun Microsystems Inc. said Wednesday its profits rose 41 percent in the latest quarter and its revenues jumped to record levels, driven by sales of the company's server computer and power desktop systems. Sun said its net income for the fiscal second quarter ended Dec. 29 rose to $178.3 million from $126 million in sec...
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Sun Microsystems Inc said on Wednesday its profits rose 41 percent in the latest quarter and its revenues jumped to record levels, driven by sales of the company's server computer and power desktop systems. Sun said its net income for the fiscal second quarter ended Dec. 29 rose to $178.3 million from $126 million in s...
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Microsoft Corp. Chairman Bill Gates on Tuesday swept aside doubts about the future of the personal computer, saying this type of computer system was going to be in the forefront for many years to come. The Microsoft co-founder used his keynote address at the annual Comdex industry trade show in Las Vegas to illustrate ...
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Softbank Chief Executive Officer Masahoshi Son said the company will focus over the next year or two on growing its businesses organically and on preparing for the launch of JSkyB. "For the next couple of years -- a year or two -- we will focus more on growing what we have already acquired and also prepare for JSkyB ...
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The semiconductor industry said Monday its key indicator rose last month to the highest level in almost a year, reflecting a surge in new orders for computer chips. The so-called book-to-bill ratio, which measures the value of new orders compared with shipments over a trailing three-month period, jumped to 1.10 in Octo...
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Sun Microsystems Inc. stock took a beating Wednesday despite reporting a sharp rise in earnings that topped Wall Street's average forecasts and set milestones for its typically weak first fiscal quarter. The Mountain View, Calif.-based computer maker said late Tuesday that its profits jumped 45 percent in its fiscal fi...
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Wired magazine remains one of the publishing world's hottest 1990s startups, but on the brink of its parent's initial stock offering some analysts are warning the chronicle of the digerati of the Internet age may prove a better read than investment. "It's a great read, off Wall Street, but the balance sheet is not quit...
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Even before the personal computer era's foremost figures donned togas and circus suits for the traditional extravaganzas of the industry's annual gala summit, industry titans were jockeying for the limelight. Although the 25th anniversary of the microprocessor is among the high points of this year's show, the next 25 y...
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Microsoft Corp Wednesday launched electronic commerce software and a wide array of partners aimed at enabling consumers and businesses to buy and sell products over the World Wide Web. At the core of the announcement is Microsoft's Merchant Server, software which will enable businesses to set up electronic storefronts ...
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Sun Microsystems Inc. on Tuesday will unveil the long-awaiting stripped-down network computer it claims will cost companies up to 80 percent less to own and operate than a personal computer connected to a network. Sun's Java Computing initiative, including the JavaStation network computer that Sun plans to sell for as ...
41
For many computer owners, 1997 will be the year when Internet users will begin to see more features aimed at making the Net more lifelike. But it is also likely to be marked by frequent communications breakdowns caused, in part, by increased demand. "I wrote a year ago about a collapse, but it's really collapses, getti...
41
Microsoft Corp Wednesday launched electronic commerce software and a wide array of partners aimed at enabling consumers and businesses to buy and sell products over the World Wide Web. At the core of the announcement is Microsoft's Merchant Server, software which will enable businesses to set up electronic storefronts ...
41
International Business Machines Corp's Lotus Development Corp unveiled the company's next productivity suite, SmartSuite 97, and said the product will begin shipping in January. Lotus President Jeff Papows said on Sunday night the company will continue to add Internet functionality, with a further upgrade planned in th...
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Intel Corp. President Andrew Grove said the $400 billion personal computer industry must serve up more than just television-like features to impress its most demanding customers: 10-year-old kids. In an opening speech at the Comdex trade show in which he hailed the 25th anniversary of the microprocessor which Intel inv...
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Netscape Communications Corp. President Jim Barksdale Wednesday unveiled new software that will allow users to receive personalized information anywhere on a computer network. The new software, code-named Constellation, will also allow users to merge and customize information on computer desktops and networks, posing a...
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Lotus Development Corp. Chief Executive Officer Michael Zisman said Wednesday the company will focus its attention on what could become a $1 billion market for collaborative Internet software by 1999. Lotus, acquired by International Business Machines Corp. last year in a deal valued at more than $3 billion, should not...
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U.S. high-tech venture fund investment soared 50 percent in the third quarter as overall U.S. venture investment rose 25 percent in the seasonally-slow period from year-ago levels, according to a survey released on Friday. "It is so hot it's scary," Kirk Walden, who compiles the quarterly Price Waterhouse LLP National ...
41
Stocks of high-tech companies soared Wednesday after a potentially costly ballot proposal was voted down in California, and top executives found themselves relishing their roles as political activists. A group of top-level entrepreneurs and executives met behind closed doors Wednesday to work on a broader political all...
41
Hewlett-Packard Co. said Friday that it will unveil technology Monday that will provide a breakthrough in the long-deadlocked debate over use of software encoding for secure data traffic. If the encryption technology has won the backing of industry and the U.S. and other governments -- which Hewlett-Packard officials s...
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Calendar third quarter returns for hotly-competitive Internet stocks will reflect the sacrifice of near-term profits for longer-term growth, analysts said. Many Internet startups are still fighting to build market share and are expected to continue posting quarterly losses. "Everything's moving quickly, but people stil...
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Moving to capitalise on enormous growth in the use of laser printers, Hewlett-Packard Co on Monday will launch a new genre of printers it calls the "mopier" to steal work from the copy machine. The new device, dubbed the HP LaserJet 5Si Mopier, reduces the need to use copiers by allowing workers to make multiple origin...
41
For managers at the trendy specialty juicer Odwalla Inc., the revelation that their apple juice products were associated with a potentially deadly outbreak of E. coli food poisoning has come as a shock. The company, headquartered in the easy-going coast community of Half Moon Bay, was founded 16 years ago on the premis...
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