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UPDATE 2-Activist investor says RIM blocked meeting

* Firm is leading drive for shake-up at BlackBerry maker* RIM not available immediately for commentTORONTO, Oct 18 (Reuters) - Jaguar Financial , a Research In Motion investor agitating for a shake-up, said two independent RIM directors canceled meetings called this week to discuss complaints about the BlackBerry maker.Jaguar, a Canadian merchant bank that targets underperforming companies, wants RIM to hire a chief executive to replace Mike Lazaridis and Jim Balsillie. It also wants RIM to consider putting itself up for sale, either as a whole or in parts.Jaguar Chief Executive Vic Alboini said on Tuesday meetings with directors David Kerr and John Richardson were canceled by RIM's counsel."This incident clearly demonstrates the control that management has over the independent directors," said Alboini.The current co-CEOs have presided over a steady decline in the BlackBerry's share of the smartphone market and have failed to keep pace with innovations by Apple and others, Alboini and other critics say. Balsillie and Lazaridis, who share the role of chairman, exert too much power over the board, they say.Jaguar says shareholders representing 8 percent of RIM's stock back its demands, and investment bankers say that figure could grow if RIM fails to address their concerns.Shares of RIM were down more than 2 percent at $22.93 in Nasdaq trade on Tuesday, as the BlackBerry maker launched a three-day developers conference in San Francisco.At the event, RIM said it would soon launch a new operating system to power both its smartphones and the PlayBook tablet computer.

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FEATURE-Fukushima victims:homeless,desperate and angry

They are furious at the red tape they have to wade through just to receive basic help and in despair they still cannot get on with their lives seven months after the huge quake and tsunami triggered the world's worst nuclear disaster in 25 years.Shouts fill a room at a temporary housing complex where seven officials, kneeling in their dark suits, face 70 or so tenants who were forced to abandon their homes near the Fukushima nuclear plant after some of its reactors went into meltdown after the March 11 quake struck."We don't know who we can trust!" one man yelled in the cramped room where the officials were trying to explain the hugely complex procedures to claim compensation."Can we actually go back home? And if not, can you guarantee our livelihoods?"About 80,000 people were forced to leave their homes by the nuclear crisis.^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^Factbox on compensation for victims^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^While the owner of the plant, Tokyo Electric Power Co , has made temporary payments to some victims, it was only last month that it finally began accepting applications for compensation.But the procedure is so complicated that it seems to just make things worse.After claimants have read a 160-page instruction manual, they then have to fill in a 60-page form and attach receipts for lodging, transportation and medical costs."It's too difficult. I'm going to see how it goes. I don't want to rush and mess up," said Toshiyuki Owada, 65, an evacuee from Namie town, about 20 km (12 miles) away from the plant.Owada is one of many who still has not applied for compensation even though they have lost jobs or businesses and are running out of cash.COMPLEX AND UNFAIRThe complexity of the task is one deterrent.There is another -- the perception that Tepco is not playing fair.Confidence in the authorities is low. The government is seen as having bungled its early response to the crisis and being secretive about what was really happening.Tepco is accused of failing to take sufficient safety measures at the Fukushima plant even though it knew the risks and then deliberately underplaying the extent of the accident.It is also seen as insensitive.One clause in the original instruction booklet telling victims they would have to agree to waive their right to challenge the compensation amount in order to receive payment provoked a public uproar.Chastised by the government, the company promised to drop the clause, issued a simplified 4-page instruction booklet and assigned 1,000 employees to Fukushima prefecture to help victims with the process."There may be times when the content is difficult to understand or in some cases our employee in charge may not grasp it fully, but we would like to explain and respond as carefully as possible," said Tepco spokesman Naoyuki Matsumoto.A government panel overseeing the compensation scheme estimates claims are likely to reach 3.6 trillion yen ($46.5 billion) in the financial year to next March.FEW CLAIMANTSBut so far just 7,100 individuals have applied to Tepco for compensation out of the 80,000 it send forms to.And of the 10,000 businesses in the Fukushima area, a mere 300 have submitted claims.The company expects a total of 300,000 claims from businesses given that the impact of the radiation crisis has been so widespread.Victims can sue but that is rare.Junichi Matsumoto, a Tepco official, said the utility faces about 10 lawsuits so far. He declined to disclose details but said some were seeking more than the firm deemed appropriate.Yuichi Kaido, an attorney and the secretary-general of the Japan Federation of Bar Associations, said lawsuits are considered a last resort in conservative rural northeast Japan."In the end, many lawsuits could take place," he said."But the majority is thinking of first speaking with Tokyo Electric or seeking mediation . "SENSE OF RESIGNATIONThe final compensation depends on whether and when victims will be able to return to homes within a 20-km evacuation zone. That question remains unanswered, breeding a growing sense of resignation among evacuees.Some said they doubt they will ever be able to go home and suggested their entire towns simply be relocated and many worry about long-term health effects of radiation.An Asahi newspaper poll showed this month that 43 percent of evacuees still want to return, down from 62 percent in June.For many, what is now on the table -- reimbursement for moving and transportation costs associated with evacuating, compensation for damage to health, lost jobs, and psychological suffering -- only deepens frustration over what they have lost.Tokyo Electric said it will pay about 100,000 yen a month for the period to end of August as compensation for psychological trauma. After that, the sum will be halved."Evidence that we have lived our lives is completely destroyed and for that, we are told that we will be compensated 100,000 yen for our psychological suffering. That's it?" said 75-year-old restaurant owner Sumiko Toyoguchi, who had to leave her home in Namie."What's at the root of our frustration is that we cannot see what our tomorrow will be like." ($1 = 77.365 Japanese Yen)

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Edison's Italian investors undecided on revamp terms

Italy's No.2 power generator, which is worth more than $6 billion, is jointly controlled by EDF and a group of Italian investors led by regional utility A2A (A2.MI) through a complex shareholder pact.A2A has on several occasions expressed dissatisfaction with results at Edison and is seeking to transform what it sees as a financial stake into industrial assets.EDF, which owns about 50 percent of Edison, reached an agreement in March with Italian investors that would give it majority control in return for power-generation assets. That deal was blocked by Rome."We still need to reach an agreement to put to EDF," the chairman of Edison shareholder Iren (IREE.MI), Roberto Bazzano, said on Wednesday.Press reports on Wednesday said the Italian government had given the nod to an accord based on the March deal, after a meeting between Industry Minister Paolo Romani and EDF head Henri Proglio.A spokeswoman for EDF said Proglio had met the Italian government last week but gave no further details. She said talks with Italian investors were ongoing.DEADLINEA complex shareholder pact between EDF and Edison's Italian investors, which locks up 61.3 percent of capital, is due to expire at the end of October. The deadline, which has already been extended, could be put back again."The time is sufficient (to reach a deal) if the will is there," Bazzano said.Should Edison shareholders fail to reach agreement on the restructuring, a competitive bid for assets could ensue. Sources said neither side was keen for such an outcome.Under the March deal, the Italian investors could also be offered a put option on their stake in Edison, as a way out further down the line."A crucial aspect of the deal would be the strike price on any put option, since that could affect any writedowns that need to be made and the price of a bid," a source said on Wednesday.Under Italian law a change of ownership automatically triggers a mandatory tender offer on outstanding shares. The price of such a bid would be linked to Edison's implicit valuation."EDF has sought advice on whether keeping the Italians on board with a put option and certain powers would negate the concept of change of control and avoid a bid," the source said.Edison's controlling shareholders originally bought their shares at around 1.5 euros each. Edison shares closed up 5.3 percent at 0.9605 euros."It looks like there's a general agreement and the idea is EDF could launch a bid at over 1 euro (per share)," a Milan-based analyst said.

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Infosys CFO: FY12 margins may fall 100 basis pts

Earlier on Tuesday, Infosys posted a 9.7-percent rise in second-quarter profit but cut its full-year revenue outlook . ($1 = 49.3 rupees)

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UPDATE 1-Western Wind gets unsolicited bid from Algonquin

The offer price of C$2.50 a share, which is at a premium of nearly 88 percent to the company's close on Friday, is an "extremely low-ball bid", Western Wind said in a statement."A large U.S.-based corporation, with a substantial U.S. tax appetite, is the only entity that can offer the full value to the Western Wind shareholders," the company said. "There is over $300 million of tax shield available to a large taxable, U.S. entity."Western Wind, which signed a 20-year contract in December to supply electricity to Southern California Edison from its flagship Windstar project, is on the verge of going on-line with the project in three months, it said.The company expects returns from the project to be above Algonquin's offer, it added.Algonquin could not be reached immediately for comments. The company owns and operates $1.1 billion of clean renewable electric generation and sustainable utility distribution businesses in North America, according to Algonquin's website.Western Wind shares rose over 68 percent to trade at C$2.24 on Tuesday on the Toronto Venture Exchange.

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Seattle startup raises $1.3 million to encrypt the cloud

Kory Gill’s “a-ha” moment came in the form of a lightning bolt that struck his Seattle home and fried his computers. In the aftermath, his wife’s main concern was whether their digitally stored family photos had survived the blast. “What more of a sign do you need to go start this company?” Gill recalled his wife asking him, who used the scare to leave a 20-year career at Microsoft (MSFT.O) and launch his own online backup company. Three years later (Reuters first interviewed Gill in 2009), Gill and co-founder Marius Nita – a former Microsoft colleague – are seeing some traction with Newline Software Inc, having launched the first version of their online storage product, Exact, into the market in August. Gill told Reuters they have just closed their latest financing round – Newline’s third – to bring their total funding to $1.3 million. The money, raised from friends and family, will be spent on improving the product, growing the brand and building a new software platform that will allow Newline to encrypt every piece of data stored online, or in “the cloud,” said Gill. The platform called OPTIC (Online Privacy Technology In the Cloud) is an application programming interface (API) that Gill hopes will give Newline a competitive advantage over much larger rivals such as Carbonite and Mozy. “There are a lot of online backup products out there so we needed a way to differentiate ourselves,” said Gill, referring to OPTIC as an “index to encrypt data in the cloud.” Newline is really two different companies: an online data storage service (Exact) where users store files and a software program (OPTIC) that is able to protect and archive sensitive data stored anywhere on the Web. OPTIC can be used on any platform, meaning Mozy or Carbonite customers can use it to encrypt their files, said Gill. He also noted that because Newline encrypts every piece of data, customers are able to retrieve files exactly the way they originally saved them, something the competition doesn’t currently offer. “The impact of that is (if) you backup all your pictures and news stories over the last year and you get a new computer and restore all those files to your computer they all have today’s date on them,” said Gill, who confessed that most of these advantages could be adapted by competitors within “three months.” Newline also faces a tough challenge competing for users against Carbonite (CARB.OQ), a publicly traded company that has raised more than $60 million in venture capital, that spends far more on customer acquisition costs. Gill, who won’t disclose the company’s number of users, said Newline aims to grow at roughly a tenth of the rate as Carbonite, which has more than a million subscribers. Newline will target “smaller incremental more steady growth,” said Gill, adding they will look to attack the crowded space in different ways. “We’re looking for the blue oceans,” said Gill, whose company eschews flat monthly fees, preferring to charge customers for what they actually use. “We have some markets and niches that are not being noticed by the current players in the space and that’s where we’re making our largest inroads in some of the spaces that are being overlooked.” He added that Newline also promises “100 percent data privacy,” which means none of its staff can see the files they store. Gill said this service is unique to Newline and  something that will be especially attractive to businesses that have highly sensitive legal and financial information. Gill is trying to transition Newline more towards the data privacy spectrum, where its software has “applications far beyond what we’re doing.” He said cloud computing is still in its infancy and companies like Newline are just starting to discover how people store their personal data and share it between devices such as personal computers and smartphones. “Like any product that has just launched part of our struggle and job is to make a name for yourself and be seen as a reputable service,” said Gill, adding Newline will be looking to attract some venture capital going forward “to really make a dent here.” See related Reuters video: