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The new consoles from Microsoft, Nintendo and Sony

NEW YORK (AP) — Microsoft is the last of the three big video game console makers to unveil its latest gaming system. Tuesday's unveiling comes nearly eight years after the Xbox 360 went on sale. It follows last fall's debut of Nintendo's Wii U and a preview in February of the upcoming PlayStation 4 from Sony.

Telecom Italia mulls mobile unit spinoff: sources

By Stefano Rebaudo and Alberto Sisto MILAN (Reuters) - Telecom Italia is mulling spinning off its mobile unit along with its fixed-line network to bring new investors on board, three people, including a senior political source, told Reuters on Tuesday. "The three-way split would allow the company to reduce debt and staff costs and favor the entry of new investors," the political source said. "It is a strategy that will allow the company to confront the market in the future more freely." Later on Tuesday, the Italian phone company denied a break-up was under consideration. ...

Apple CEO makes no apology for company's tax strategy

By Patrick Temple-West and Kevin Drawbaugh WASHINGTON (Reuters) - Apple Inc Chief Executive Tim Cook made no apology on Tuesday for the iPad maker saving billions of dollars in U.S. taxes through Irish subsidiaries and told lawmakers that his company backs corporate tax reform, even though it may end up paying more. The Senate Permanent Subcommittee on Investigations has found that Apple in 2012 alone avoided paying $9 billion in U.S. taxes, using a strategy involving three offshore units with no discernible tax home, or "residence. ...

Sony to assess spin-off proposal for entertainment business: Nikkei

(Reuters) - Sony Corp is considering evaluating a proposal from top shareholder Third Point LLC to spin off part of its movie and music business, Japanese daily Nikkei reported. Sony's U.S. listed shares rose 9 percent on Tuesday on the New York Stock Exchange. Billionaire hedge fund investor Daniel Loeb last week called on the company to spin off its lucrative entertainment arm, setting the stage for a clash between his activist Wall Street fund and management at the Japanese electronics maker. Sony declined to comment when contacted by Reuters. ...

PayPal to increase marketing this year for offline push

By Alistair Barr SAN FRANCISCO (Reuters) - PayPal, the online payment operation owned by eBay Inc, will increase marketing spending to support its push into physical stores, President David Marcus said on Tuesday. "You'll start seeing us amping marketing up later this year," Marcus said in an interview with Reuters. PayPal is trying to become a common way of paying in physical stores, a much larger market than its online roots. ...

With the Xbox One, Microsoft’s vision for conquering the living room takes shape

It’s taken a while, but Microsoft’s big plan for conquering consumers’ living rooms is now finally coming together. For years, major tech companies have been obsessed with getting their software and applications onto television screens and have mostly employed a series of set-top boxes that have done little to spark consumer interest. But unlike Apple and Google, Microsoft has always had a secret weapon that it’s been waiting to deploy to make sure that its software becomes entrenched on users’ television sets: Namely, the Xbox. For years now the Xbox has been the MVP of Microsoft’s consumer electronics division. While the company has badly lagged behind in both the smartphone and tablet realms, it has stayed strong in the gaming

Microsoft touts Xbox One as all-in-1 entertainment

REDMOND, Wash. (AP) — Microsoft thinks it has the one.

Telecom Italia denies possible company break-up

MILAN (Reuters) - Telecom Italia denied on Tuesday that a company break-up was under consideration. "Telecom Italia points out that speculations about a possible break-up are groundless," a spokesman for the company said in an emailed statement. Earlier on Tuesday three sources told Reuters the Italian phone company was mulling a spinoff of its mobile unit along with its fixed-line network from the rest of the company to bring new investors on board. (Reporting by Francesca Landini; Editing by Gary Hill)

Apple's Cook faces Senate questions on taxes

WASHINGTON (AP) — The Senate dragged massively profitable Apple Inc. into the debate over the U.S. tax code Tuesday, grilling CEO Tim Cook over allegations that its Irish subsidiaries help the company avoid billions in U.S. taxes.

Microsoft unveils Xbox One with Spielberg, Activision tie-up

By Bill Rigby and Malathi Nayak REDMOND, Washington (Reuters) - Microsoft Corp gave the world a first look at its new Xbox One on Tuesday, announcing that its first gaming console in eight years will come with exclusive video and software content, including a "Halo" series produced by Steven Spielberg. The Xbox One, which will be available later this year at a price to be announced, will also be the first platform to release the next installment in Activision Blizzard Inc's blockbuster shooter franchise, "Call of Duty". ...