Facebook, RIM, Oracle

Facebook is when all is said and done releasing an iPad app, more than a year afterwards the tablet went on sale, The New York Times reports. It will in essence be a free application optimized for the tablet computer. The app has been in production for nearly a year, with Facebook founder Mark Zuckerberg heavily invested at every stage, sources told the Times; Facebook and Apple would not comment.

Mobile device

Facebook said there were more than 250 million users accessing its social network on a mobile device. A compelling Facebook app could be a factor for clients torn between an iPad and a competing Google Android tablet. Apple reportedly plans to feature the Facebook app prominently in the App Store.

Research in Motion‘s shares have dropped afterwards it unveiled profits that were below analysts’ lowered expectations, the New York Times reports. RIM had already reduced its profit-forecast seven weeks ago. RIM, like Nokia, has been struggling to compete in the field of smartphones against Apple's iPhone and handsets using Google's Android OS.

The company's answer to Apple's iPad tablet

The company's answer to Apple's iPad tablet, the BlackBerry Playbook, was introduced this spring with software flaws and features missing. RIM has nevertheless not set a release date for BlackBerrys using a new OS.

The company cut its fiscal year estimates on Thursday, predicting it would earn $5.25 to $6 a share, down from its previous forecast of $7.50 a share while the current fiscal year. It reduced its revenue forecast to $4.2 billion, from $4.8 billion.

The downturn for RIM coincides with the departure of COO Don Morrison, who is leaving the company for medical reasons. He is expected to return in the fall. A source told Business Insider that Morrison's departure is "not a big deal," however it will be played up as RIM being in turmoil.

Patent lawsuit against Google over smartphones

Oracle is seeking billions in a patent lawsuit against Google over smartphones, according to a court filing. The company sued Google last year, claiming the Android OS infringes Oracle's Java patents. Oracle bought the Java programming language through its purchase of Sun Microsystems in January 2010. Barring settlements, a trial is expected to begin by November.

Pandora is up against a fast-changing innovation landscape and shifting consumer preferences. Its competitors include satellite-radio service Sirius XM Radio, as so then as new cloud services from Apple, Google and Amazon.

I've covered European business and innovation news for Forbes since 2006, and as London bureau chief since 2008. I'm using this blog to explore some of the disruptive research and ideas coming out of this region. Previously all this I tracked the highs of the private equity boom and the lows of the subprime mortgage crisis, as then as the creators, destroyers and enjoyers of wealth that make up our Forbes lists. If you have story ideas or tips, e-mail me at polson@forbes.com or follow me on Twitter: parmy.