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Cisco to lay off 4,000 employees  source: TOI NEW YORK: Cisco's earnings and revenue grew in the latest quarter as demand for its computer networking equipment increased. But CEO John Chambers called the global economy "challenging and inconsistent" and the company said it is cutting about 4,000 jobs, or about 5% of its work force. Cisco's revenue guidance  for the current quarter was weaker than Wall Street expected, and shares fell sharply in extended trading. The company's stock fell $2.51, or 9.5%, to $23.87 in extended trading after the results were released. The stock closed up 6 cents at $26.38 in the day's regular trading session. Cisco Systems  earned $2.27 billion, or 42 cents per share, in the three months that ended on July 27. That's up from $1.92 billion, or 36 cents per share, a year earlier. Adjusted earnings were 52 cents per share in the latest quarter, squeaking past Wall Street's expectations by a penny. This figure excl...

Microsoft to launch Windows 8.1 on October 18 source: TOI SAN FRANCISCO: A tweaked version of Microsoft's Windows operating system which restores the "Start" button missed by users and updates other features will be available on October 18, the company said.  Windows 8.1  will be offered as a free download to those already using Windows 8, and comes in response to a lukewarm reception to the operating system introduced last year aimed at serving both mobile devices and PCs.  A full retail version of Windows 8.1 will also be available on the same date.  "I know a lot of folks are eager to find out when they will be able to get Windows 8.1," said a blog posting from Microsoft's Brandon LeBlanc.  LeBlanc said it would roll out worldwide starting in New Zealand just after midnight.  "Windows 8.1 brings many improvements in areas like personalization, Internet Explorer 11, search which is powered by Bing, built-in apps including a few new ones, an impro...