November 14, 2013 in Business

In brief: Cyan meets Kickstarter goal

From Staff And Wire Reports
 

Cyan Worlds on Wednesday exceeded its Kickstarter campaign goal of $1.1 million.

The Mead company started the crowdsourcing campaign more than three weeks ago to raise funds to move the game off the drawing board and into digital production.

The total amount raised has grown to $1.109 million. The Kickstarter page says more than 18,000 contributors have pledged money toward the project, to develop a game now titled “Obduction.”

Cyan Worlds has said little about the game, other than to say it’s the evolved spiritual successor to its breakthrough exploration game “Myst.”

Foreclosures on the decline

LOS ANGELES – Fewer U.S. homes are completing the foreclosure process and ending up repossessed by banks because investors are increasingly buying up properties when they go on sale at public auction.

The trend reflects a growing appetite among investors for buying homes before they exit the foreclosure process and end up on the market.

Some 37,775 homes nationwide completed the foreclosure process in October, down 1 percent from the previous month and a decline of 29 percent versus October last year, foreclosure listing firm RealtyTrac Inc. said today.

At the front end of the process, lenders initiated foreclosure action against 58,939 homes last month, an increase of 2 percent from September, but a drop of 34 percent from October 2012, the firm said.

Foreclosure starts have been down nationally on an annual basis for 15 months in a row, while home repossessions have fallen annually for 11 consecutive months.

The decline has come about as more homeowners are keeping up with their mortgage payments. At the same time, the U.S. housing market has emerged from a deep slump.

Chromebook 11 sales halted

SAN FRANCISCO – Google and Hewlett-Packard are halting sales of their recently released Chromebook 11 computer after some users reported the device’s charger has been overheating.

The precautionary measure announced Wednesday comes slightly more than a month after Google Inc. and Hewlett-Packard Co. unveiled the Chromebook 11 as a more affordable alternative to laptop computers with similar features. The Chromebook has a display screen that measures 11.6 inches diagonally and sells for $279.

Google said it is working with the Consumer Product Safety Commission on how to fix the overheating issue with the Chromebook’s charger.

For now, Google is advising people who already bought the Chromebook 11 to use other USB chargers that fit the computer. The Chromebook 11 can also be recharged with power cords that work with many mobile devices.

Samsung, Apple clash

SAN JOSE, Calif. – How much does Samsung Electronics owe Apple for copying vital features of the iPhone and iPad, such as scrolling and the “bounce-back” function at the end of documents?

Apple says $380 million. Samsung counters with $52 million.

The companies made their demands Wednesday during opening statements of a patent trial in San Jose, Calif.

The two companies are locked in legal battles around the globe for supremacy in the more than $300 billion smartphone market.

The current trial is a dispute over older products, most of which are no longer sold new in the United States.


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