Burphytez writes: LOS ANGELES (Reuters) — Video streaming service Netflix Inc said it intends to raise the monthly subscription price for new customers by $1 or $2 a month to help the company buy more movies and TV shows and improve service for its 48 million global subscribers.
Investors welcomed the announcement by Netflix, which had suffered from a consumer exodus and stock plunge after it announced an unpopular price increase in July 2011. The company's shares jumped 6.7 percent in after-hours trading to $371.97, after the company released plans for a price hike and posted a rise in first-quarter profit that beat Wall Street expectations.
Burphytez writes: A lawsuit pending in California federal court accuses a handful of firms, including Google, Apple and Intel, of agreeing not to recruit employees from one another as a means of keeping wages down, a scheme allegedly hatched by deceased former Apple CEO Steve Jobs.
A judge granted the case class-action status in October, and more than 64,000 technical employees that worked at the companies between 2005 and 2009 could be eligible to receive more than $3 billion in damages.