Nokia Siemens Networks To Cut 17,000 Jobs, Phone Hacking Forces James Murdoch To Step Down, China As Biggest Smartphone Market

Breaking news from your editors at Fast Company, with updates all day.

Nokia Siemens Networks To Cut 17,000 Jobs. Nokia Siemens Networks has announced restructuring plans that will cut 17,000 jobs globally by the end of 2013. In a press release, the company explained that they would shift their focus to mobile broadband and mobile services.  —NS

James Murdoch Steps Down From U.K. Newspaper Boards In Hacking Scandal. James Murdoch, son of news media oligarch Rupert Murdoch, has just stepped down from the boards of U.K. newspapers The Times and The Sun. The move comes as the ongoing phone hacking scandal unravels in the U.K. and overseas, and effectively removes Murdoch from control of the British version of News Corp. —KE

—Updated 8:45 a.m. EST

Lovefilm Buys Netflix Ad Space. With Netflix approaching its 2012 U.K. launch date, U.K. movie streaming service Lovefilm is fighting back. It just bought keyword ads on Google, deployed when someone searches for "Netflix" on the search engine. —NS

China Becomes World's Largest Smartphone Market. In this third quarter, smartphone makers shipped 24 million units to China and only 23 million to the U.S., letting the Asian country overtake the U.S. as the world's largest smartphone market. Over those months, shipment rates have grown by 58% to China and dropped 7% in the U.S., the BBC reports. —NS

A pre-Thanksgiving Google Doodle celebrates the Hand Turkey.

Google Spring Cleaning Purges Renewable Energy Project. The Renewable Energy Is Cheaper Than Coal engineering team worked on solutions to reduce the cost of solar energy. Google will be shutting down the project and six other Google products as part of the "off-season spring cleaning series." —NS

Indian Online Retailer Expects 10-fold Growth This Year. "India's Amazon" Flipkart.com has told Bloomberg Businessweek that it is expecting a ten-fold growth this coming year. The Bangalore-based company was started by two Amazon alums in 2007, but has seen a surge in growth this past year. Like many other web stores in India and China, FlipKart.com customers can pay for their shopping with cash or credit cards when it reaches their door. —NS

China Reports Carbon Emission Cuts. A document on carbon emissions on China released by the Chinese government yesterday indicate that industries are becoming more efficient—reducing carbon emissions 20 percent between 2005 and 2010 per unit of gross domestic product. However, the overall carbon emissions from the country continue to increase year by year. China will join climate talks with other countries in Durban, South Africa next week. —NS

—Updated 6:45 a.m. EST

Yesterday's Fast Feed: Microsoft Buys VideoSurf, "4.74 Degrees" Between Any Two Facebook Users, HTC Is Building Facebook's "Buffy" Phone, and more. 

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