SHANGHAI/HONG KONG (Reuters) - Chinese bike-sharing start-up ofo said it has raised $450 million in a fresh round of funding, as the firm faces up against deep-pocketed rival Mobike in one of the hottest sectors to attract tech investors.
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Tuesday, February 28, 2017
Uber's self-driving unit quietly bought firm with tech at heart of Alphabet lawsuit
SAN FRANCISCO (Reuters) - A company now owned by Uber last year quietly bought a small firm specializing in sensor technology used in autonomous vehicles, giving the ride services company a patent in the technology and possibly a defense against a trade secrets theft lawsuit filed against it by rival Alphabet Inc.
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Uber CEO says he must 'grow up' after argument with driver
((Editor's note: Please note language in 6th paragraph that may be offensive to some readers.))
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Disruption in Amazon's cloud service ripples through internet
SAN FRANCISCO (Reuters) - Web users experienced widespread glitches on Tuesday, from news sites to government services, after Amazon.com Inc's popular cloud service that hosts their data suffered a technical disruption.
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Proxy proposal on Apple directors defeated at meeting
CUPERTINO, Calif. (Reuters) - Apple Inc shareholders defeated a proxy proposal on Tuesday at the iPhone maker's annual shareholder meeting that would have let them nominate two directors on the company's board.
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Samsung Group chief charged with bribery, corporate nerve center dismantled
SEOUL (Reuters) - South Korean prosecutors charged Samsung Group [SARG.UL] chief Jay Y. Lee with bribery and embezzlement on Tuesday as the top conglomerate announced the dismantling of its corporate strategy office, the latest developments in a graft scandal that has rocked the country.
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SoundCloud launches budget plan to attract paying subscribers
FRANKFURT (Reuters) - Music-streaming service SoundCloud launched a budget subscription package on Tuesday, hoping to convert more listeners into paying subscribers and undercutting rivals Apple and Spotify.
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Xiaomi unveils in-house chipset to streamline production, cut prices
BEIJING (Reuters) - Chinese smartphone firm Xiaomi Inc [XTC.UL] announced its first in-house designed chipset on Tuesday, as it works to streamline production, lower prices, and gain greater control over handset design to counter the impact of slowing sales.
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EU needs common approach on testing banks' cyber-risks: Dombrovskis
BRUSSELS (Reuters) - European Union countries should test bank defenses against cyber-attacks using a common set of requirements, a senior EU official said on Tuesday, as the bloc plans measures to boost the retail market for financial products.
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Monday, February 27, 2017
Facebook's virtual reality ambitions could be threatened by court order
(Reuters) - Facebook Inc's big ambitions in the nascent virtual reality industry could be threatened by a court order that would prevent it from using critical software code another company claims to own, according to legal and industry experts.
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Snap expects some IPO investors to make year-long commitments
(Reuters) - Snap Inc, owner of popular messaging app Snapchat, disclosed on Monday that it expected investors buying up to a quarter of the shares in its $3.2 billion initial public offering this week to agree not to sell them for a year.
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Buffett tells CNBC Berkshire bought 120 million Apple shares in 2017
NEW YORK (Reuters) - Billionaire investor Warren Buffett told CNBC on Monday his conglomerate Berkshire Hathaway Inc had more than doubled its stake in Apple Inc. since the end of 2016, making it one of Berkshire's biggest equity holdings, and that U.S. stocks overall were not in "bubble territory."
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No AT&T-Time Warner merger review expected: U.S. regulator's chairman
WASHINGTON (Reuters) - The head of the U.S. Federal Communications Commission does not expect to review AT&T Inc's planned $85.4 billion acquisition of Time Warner Inc , a spokesman for the agency said on Monday.
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Tesla deepens recent losses after Goldman recommends selling
SAN FRANCISCO (Reuters) - Shares of Tesla dropped on Monday after a downgrade by Goldman Sachs, bringing the electric carmaker's decline to 11 percent since its quarterly report last week stoked worries about how much cash it is using to launch its Model 3 sedan.
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Apple and SAP to release tool to build business apps
(Reuters) - Apple Inc and German software maker SAP SE will release a tool aimed at helping developers build iPhone apps for big businesses, the two companies said on Monday.
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Softbank expects ARM to deliver 1 trillion IoT chips in next 20 years
BARCELONA (Reuters) - Softbank's semiconductor subsidiary ARM will deliver about a trillion chips designed for the so-called internet of things (IoT) over the next 20 years, the chairman and CEO of the Japanese company said on Monday.
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Merkel discussed China's electro-cars plan with prime minister Li
BERLIN (Reuters) - German Chancellor Angela Merkel discussed China's plan to set quotas for the number of electric cars it wants on its roads in the future in a phone call with Prime Minister Li Keqiang, a government spokesman said on Monday
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Finnish mobile game start-up Next Games plans listing
HELSINKI (Reuters) - Finnish mobile game startup Next Games is planning to list its shares on the Helsinki bourse, it said on Monday.
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Sunday, February 26, 2017
SoftBank nears deal to invest $3 billion in U.S. startup WeWork: CNBC
TOKYO (Reuters) - Japan's SoftBank Group Corp is close to finalizing an investment in U.S. office-sharing startup WeWork, in a deal expected to be worth over $3 billion, CNBC reported on Monday.
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Trump administration re-evaluating self-driving car guidance
WASHINGTON (Reuters) - U.S. Transportation Secretary Elaine Chao said on Sunday she was reviewing self-driving vehicle guidance issued by the Obama administration and urged companies to explain the benefits of automated vehicles to a skeptical public.
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Phonemakers pile in to exploit Samsung weakness
BARCELONA (Reuters) - Phonemakers are piling in to fill a gap in the market left by Samsung , still licking its wounds from a costly recall of its flagship Note 7 and with no key device of its own to launch at the telecom industry's biggest annual fair.
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Nokia goes back to the future with 49 euro phone
BARCELONA, Spain (Reuters) - Nokia's newly revitalized phone business went back to the future on Sunday, re-introducing a brightly colored version of the classic 3310 talk and text phone, the world's most popular device in the year 2000.
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Treason charges against Russian cyber experts linked to seven-year-old accusations
MOSCOW (Reuters) - Treason charges brought in December against two Russian state security officers and a cyber-security expert in Moscow relate to allegations made by a Russian businessman seven years ago, according to the businessman and a source connected with the investigation.
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Nokia sees growth opportunities in networks market
BARCELONA (Reuters) - Nokia sees demand for higher speed 4G network equipment starting to recover this year, led by Japan, the company's chief executive Rajeev Suri said on Sunday as he announced a series of contracts with telecom operators.
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Huawei seeks to exploit Samsung gap with new smartphone
BARCELONA (Reuters) - Huawei [HWT.UL] is introducing a mass-market version of its premium business phone, to take advantage of a gap created by the withdrawal of Samsung's flagship Galaxy Note 7 after a crisis with its batteries catching fire.
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Google's digital assistant comes to new Android phones
(Reuters) - Alphabet Inc’s Google announced on Sunday that it will bring its digital assistant to smartphones running the latest versions of its Android operating system, vastly expanding its reach.
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Berkshire Hathaway gains $1.6 billion from its huge bite of Apple
NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc is sitting on more than $1.6 billion of gains in its investment in Apple Inc. after shares of the iPhone maker surged.
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Saturday, February 25, 2017
TCL carries flickering BlackBerry flame with new phone launch
BARCELONA, Spain (Reuters) - Blackberry Ltd may have exited the device business, but fans of the pioneering email machine need not despair as Chinese smartphone maker TCL Communication has introduced its first Blackberry-licensed phone with the physical keyboard that was long its key allure.
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Alphabet's self-driving car unit sues Uber with trade theft charge
SAN FRANCISCO (Reuters) - Alphabet Inc's Waymo self-driving car unit sued Uber Technologies [UBER.UL] and its autonomous trucking subsidiary Otto on Thursday over allegations of theft of its confidential and proprietary sensor technology.
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Friday, February 24, 2017
Beyond phones and 5G, mobile world seeks to reinvent itself
FRANKFURT/LONDON (Reuters) - Seeking to escape a cycle of falling prices and tight regulation, big telecom operators from Vimpelcom to Telefonica are set to reinvent themselves as internet players to escape the industry's straight-jacket of low growth.
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Bug causes personal data leak, but no sign of hackers exploiting: Cloudflare
SINGAPORE (Reuters) - A bug in its software left hundreds of thousands of webpages hosted by Cloudflare Inc leaking encrypted personal data, but there was no sign yet the leak had been exploited by hackers, the Internet security firm said on Friday.
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Toshiba says not aware Westinghouse considering Chapter 11 filing
TOKYO (Reuters) - Toshiba Corp said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering seeking protection from creditors, an option analysts say could put the entire TVs-to-construction conglomerate at risk if exercised now.
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Thursday, February 23, 2017
Two senior Samsung Group executives offer to resign: Yonhap
SEOUL (Reuters) - Two senior Samsung Group [SAGR.UL] executives have offered to resign to take responsibility for the conglomerate's involvement in the graft scandal involving South Korean President Park Geun-hye, Yonhap news agency said on Friday, without citing sources.
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Early Uber investors call on company to change 'destructive culture'
SAN FRANCISCO (Reuters) - Early investors in Uber Technologies Inc [UBER.UL] wrote to the ride-hailing company on Thursday to criticize it for failing to end a toxic culture of harassment.
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Tech breakthroughs take a backseat in upcoming Apple iPhone launch
SAN FRANCISCO (Reuters) - When Apple Inc launches its much-anticipated 10th anniversary iPhone this fall, it will offer an unwitting lesson in how much the smartphone industry it pioneered has matured.
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Alphabet's self-driving car unit sues Uber over stolen trade secrets
SAN FRANCISCO (Reuters) - Alphabet's Waymo self-driving car unit sued Uber Technologies [UBER.UL] and its autonomous trucking subsidiary Otto in federal court on Thursday over allegations of theft of its confidential and proprietary sensor technology.
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Baidu Inc's quarterly revenue falls 2.6 percent
(Reuters) - Baidu Inc reported a second straight drop in quarterly revenue as regulatory scrutiny into healthcare and related advertisements continued to take a toll on the Chinese internet search giant.
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NYSE plans trial run for Snap IPO
(Reuters) - The New York Stock Exchange will conduct a trial run of Snap Inc's initial public offering on Saturday, according to a notice given last week to stock traders, in anticipation of what is expected to be the biggest U.S. technology IPO in nearly five years.
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Tesla shares slip as cash-burn raises concerns
(Reuters) - Tesla Inc's shares fell nearly 6 percent as the electric car maker's freewheeling cash burn deepened concerns that the company would need to raise more capital as it pushes ahead with the production of its mass-market Model 3 sedan.
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Google to help publishers find malicious comments on articles
BRUSSELS (Reuters) - Alphabet Inc's Google and subsidiary Jigsaw launched on Thursday a new technology to help news organizations and online platforms identify abusive comments on their websites.
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UK crime agency arrests suspect in Deutsche Telekom cyber attack
FRANKFURT (Reuters) - Britain's National Crime Agency (NCA) has arrested a suspect in connection with last year's cyber attack which infected nearly 1 million Deutsche Telekom routers, German federal police said on Thursday.
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Wednesday, February 22, 2017
Tesla says Model 3 on track for volume production by September
SAN FRANCISCO (Reuters) - Tesla Inc said on Wednesday its mass-market Model 3 sedan was on track for volume production by September, encouraging investors who see the electric vehicle as the avenue to profitability for the young company.
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HP Inc reports 3.6 percent rise in quarterly revenue
(Reuters) - HP Inc , which houses the hardware business of former Hewlett-Packard Co, reported a 3.6 percent rise in quarterly revenue, largely helped by a stabilizing PC market.
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Verizon to offer 5G to select customers in 11 U.S. cities
(Reuters) - Verizon Communications Inc said on Wednesday it would offer its high-speed wireless 5G network to certain customers in 11 U.S. cities in the first half of 2017.
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Tesla down ahead of first quarterly report to include SolarCity
SAN FRANCISCO (Reuters) - Shares of Tesla were down almost 1 percent on Wednesday ahead of the electric car maker's first quarterly report following its $2.6 billion acquisition of solar panel installer SolarCity.
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Apple says new California headquarters to open in April
(Reuters) - Apple's sprawling new campus, dubbed "Apple Park," will open in April, the iPhone maker said on Wednesday.
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GE, Intel, AT&T team up to put cameras, mics in San Diego
SEATTLE (Reuters) - General Electric will put cameras, microphones and sensors on 3,200 street lights in San Diego this year, marking the first large-scale use of "smart city" tools GE says can help monitor traffic and pinpoint crime, but raising potential privacy concerns.
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Confident Snap brushes off concerns on second day of IPO roadshow
NEW YORK (Reuters) - Snap Inc, owner of popular messaging app Snapchat, fended off investor skepticism on the second day of its IPO roadshow on Tuesday, betting on the charisma of CEO Evan Spiegel, 26, whom it introduced as a "once in a generation founder."
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Tuesday, February 21, 2017
Verizon, Yahoo agree to lowered $4.48 billion deal following cyber attacks
(Reuters) - Verizon Communications Inc said on Tuesday it would buy Yahoo Inc's core business for $4.48 billion, lowering its original offer by $350 million in the wake of two massive cyber attacks at the internet company.
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Exclusive: Facebook in talks to live stream one MLB game per week - sources
NEW YORK (Reuters) - Facebook Inc is in talks with Major League Baseball to live stream one game per week during the upcoming season, which could be a key win as the social media platform works to offer more live sports, according to two people familiar with the situation.
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Toshiba seeks $8.8 billion for chip unit stake as banks fret over risks
TOKYO (Reuters) - Japan's Toshiba Corp wants to raise at least 1 trillion yen ($8.8 billion) by selling most of its flash memory chip business, seeking to create a buffer for any fresh financial problems, a source with direct knowledge of the matter said.
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TransferWise launches international money transfers via Facebook
NEW YORK (Reuters) - Money transfer company TransferWise has launched a new service that allows users to send money internationally through Facebook Inc's chat application, as competition in the digital payments landscape intensifies.
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Monday, February 20, 2017
Snap arrives in London to woo skeptical investors ahead of IPO
LONDON (Reuters) - Snap Inc, owner of popular messaging app Snapchat, kicked off its first investor roadshow on Monday, looking to persuade London money managers to back its initial public offering in the face of concerns about its growth prospects, valuation and corporate governance.
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Uber hires ex-U.S. Attorney General Holder to probe sexual harassment
(Reuters) - Uber Technologies Inc has hired former U.S. Attorney General Eric Holder to conduct a review of sexual harassment claims at the ride-hailing service made by a former employee.
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Snap bets on hardware as Facebook threat looms
SAN FRANCISCO (Reuters) - Snap Inc takes to the road in London on Monday to promote its initial public offering with a daring proposition: that it can build hot-selling hardware gadgets and ad-friendly software features fast enough to stay one step ahead of Facebook.
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EU privacy watchdogs say Windows 10 settings still raise concerns
BRUSSELS (Reuters) - European Union data protection watchdogs said on Monday they were still concerned with the privacy settings of Microsoft's Windows 10 operating system after the U.S. company announced changes to the installation process.
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Sunday, February 19, 2017
Amazon to create over 5,000 jobs in Britain in 2017
LONDON (Reuters) - Online retailer Amazon is set to create more than 5,000 jobs in Britain this year, the company said on Monday, boosting its investment in the country once more even as it prepares to leave the European Union.
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Alibaba extends bricks-and mortar retail push with Bailian deal
SHANGHAI (Reuters) - Chinese tech giant Alibaba Group Holding Ltd has formed a strategic partnership with retail conglomerate Bailian Group, extending a push into bricks-and-mortar retail as online growth slows.
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NZ court rules Megaupload founder Kim Dotcom can be extradited to U.S. for alleged fraud
WELLINGTON (Reuters) - A New Zealand court ruled on Monday that internet entrepreneur Kim Dotcom could be extradited to the United States to face charges relating to his Megaupload website, which was shutdown in 2012 following an FBI-ordered raid on his Auckland mansion.
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After night in cell, Samsung scion taken for questioning
SEOUL (Reuters) - Handcuffed and tied with white rope, the scion of one of the world's biggest conglomerates, Samsung Group, was taken on Saturday for questioning by South Korean authorities after spending a night in a small detention cell.
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Saturday, February 18, 2017
U.S. inquiries into Russian election hacking include three FBI probes
SAN FRANCISCO (Reuters) - The U.S. Federal Bureau of Investigation is pursuing at least three separate probes relating to alleged Russian hacking of the U.S. presidential elections, according to five current and former government officials with direct knowledge of the situation.
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Friday, February 17, 2017
Exclusive: GM plans to build, test thousands of self-driving Bolts in 2018 - sources
DETROIT (Reuters) - General Motors Co plans to deploy thousands of self-driving electric cars in test fleets in partnership with ride-sharing affiliate Lyft Inc, beginning in 2018, two sources familiar with the automaker’s plans said this week.
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Exclusive: SoftBank willing to cede control of Sprint to entice T-Mobile - sources
NEW YORK (Reuters) - Japan's SoftBank Group Corp is prepared to give up control of Sprint Corp to Deutsche Telekom AG's T-Mobile US Inc to clinch a merger of the two U.S. wireless carriers, according to people familiar with the matter.
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Snap IPO expected to price March 1 after market closes
(Reuters) - The initial public offering of Snap Inc, owner of the popular messaging app Snapchat, is expected to price March 1 after the market closes, Fidelity Investments told brokerage clients on Friday.
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Accenture to create 15,000 jobs in U.S.
(Reuters) - Accenture Plc said on Friday it would create 15,000 jobs in the United States, as IT services firms brace for a more protectionist U.S. technology visa program under President Donald Trump.
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S&P downgrade warning sends Toshiba shares falling
TOKYO (Reuters) - S&P Global Inc said in a report on Friday it could cut its rating of Toshiba Corp credit by several notches should the Japanese firm receive financial support that includes debt restructuring, sending Toshiba stock down 9 percent.
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Snap lowers valuation expectations in highly awaited IPO
(Reuters) - Snap Inc , owner of the popular messaging app Snapchat, set a lower-than-expected valuation range on Thursday, amid mounting investor concern over its unproven business model, slowing growth and tight founder control.
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Thursday, February 16, 2017
Facebook CEO warns against reversal of global thinking
SAN FRANCISCO (Reuters) - Facebook Inc Chief Executive Mark Zuckerberg laid out a vision on Thursday of his company serving as a bulwark against rising isolationism, writing in a letter to users that the company's platform could be the "social infrastructure" for the globe.
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Samsung chief Lee arrested in corruption investigation
SEOUL (Reuters) - Samsung Group chief Jay Y. Lee was arrested early on Friday over his alleged role in a corruption scandal that led parliament to impeach South Korean President Park Geun-hye, dealing a fresh blow to the world's biggest maker of smartphones.
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AT&T expands access to unlimited plan after Verizon launch
NEW YORK (Reuters) - AT&T Inc said on Thursday it would make its unlimited data plan available to all wireless customers who pay a monthly bill, days after rival Verizon Communications Inc announced an unlimited option.
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Auto union courts Tesla workers, amplifies 'buy American' message
DETROIT (Reuters) - United Auto Workers President Dennis Williams said on Thursday the union is contacting workers at Silicon Valley electric car maker Tesla Inc , and plans to boost efforts to convince U.S. consumers not to buy vehicles built in other countries, including those sold by the Detroit automakers.
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Facebook says Irish challenge to U.S. data transfers 'deeply flawed'
DUBLIN (Reuters) - Facebook said on Thursday a legal challenge against the way it transfers EU user data to the United States was "deeply flawed" and should not be referred to the EU's top court because ample privacy protections were already in place.
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EU privacy watchdogs seek assurances on U.S. data transfer pact
BRUSSELS (Reuters) - European Union data privacy watchdogs will seek assurances from U.S. authorities that a move by U.S. President Donald Trump to crack down on illegal immigration will not undermine a transatlantic pact protecting the privacy of Europeans' data.
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SMBC head says will give Toshiba as much support as possible
TOKYO (Reuters) - Sumitomo Mitsui Banking Corp, one of the main lenders to Toshiba Corp , will provide as much support as possible to the troubled electronics conglomerate, the bank's chief executive said on Thursday.
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India's Tata Motors, Microsoft ink technology collaboration deal
MUMBAI (Reuters) - Tata Motors Ltd and Microsoft India on Thursday announced a strategic collaboration on the technology front to make driving a more personalized experiences for the customers, the companies said in a joint statement.
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Wednesday, February 15, 2017
Atomico closes $765 million tech venture fund, Europe's biggest
FRANKFURT (Reuters) - Atomico, which has spent the past decade proving startups can prosper outside Silicon Valley, said on Thursday it had closed Europe's largest standalone tech venture fund, a $765 million war chest that reflects the region's growing financing firepower.
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Verizon close to Yahoo deal, price cut of $250-350 million: sources
(Reuters) - Verizon Communications Inc is close to a revised deal to buy Yahoo Inc's core internet business for $250 million to $350 million less than the original agreed price of $4.83 billion, according to a source briefed on the matter.
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Former U.S. Justice Department official warns Europe on election hacking
SAN FRANCISCO (Reuters) - A former Justice Department official who served in the Obama administration said European countries must be willing to respond forcefully to efforts by Russia or others to use cyber attacks to meddle in their elections, saying the U.S. response fell short.
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Samsung Group leader Lee appears for hearing on arrest warrant
SEOUL (Reuters) - Samsung Group [SAGR.UL] chief Jay Y. Lee appeared at the special prosecutor's office on Thursday on his way to a court hearing, before a judge decides whether to issue an arrest warrant over his alleged role in a corruption scandal that has engulfed President Park Geun-hye.
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Spotify to relocate U.S. headquarters to 4 World Trade Center
(Reuters) - New York Governor Andrew Cuomo said on Wednesday Swedish music service company Spotify will expand its U.S. headquarters and relocate it to 4 World Trade Center, creating more than 1,000 new jobs and retaining 832 jobs.
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Toyota sees plug-in hybrids catching on faster than conventional hybrids
TOKYO (Reuters) - Toyota Motor Corp's chairman, who led the development of the Toyota Prius, expects the latest plug-in hybrid vehicles (PHVs) will catch on with consumers far more rapidly than the original Prius did.
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Tuesday, February 14, 2017
Apple breaks intraday record high for first time since 2015
SAN FRANCISCO (Reuters) - Apple Inc's share price hit an intraday record high on Tuesday for the first time in almost two years as investors raised bets that a 10th anniversary iPhone will boost lackluster sales.
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South Korea prosecutor says secured additional evidence against Samsung chief
SEOUL (Reuters) - South Korea's special prosecutor's office said on Wednesday it had expanded charges against Samsung Group chief Jay Y. Lee to include hiding the proceeds of a criminal act before it decided to seek a warrant for his arrest.
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Samsung Elec shares down as prosecution seeks arrest of Samsung chief
SEOUL (Reuters) - Samsung Electronics shares fell for a fourth consecutive session on Wednesday, after South Korean special prosecutors said they would seek a warrant to arrest Samsung Group chief Jay Y. Lee as part of a corruption probe.
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Toshiba shares slide 10 percent after $6.3 billion writedown
TOKYO (Reuters) - Shares of Toshiba Corp tumbled 10 percent on Wednesday morning after the electronics conglomerate said it would book a $6.3 billion hit to its U.S. nuclear unit, a writedown that wipes out its shareholder equity.
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Facebook launches app for watching its videos on TV
(Reuters) - Facebook Inc is launching an app for smart TVs that will help the social network's users enjoy its videos on a bigger screen.
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'Digital Geneva Convention' needed to deter nation-state hacking: Microsoft president
SAN FRANCISCO (Reuters) - Microsoft President Brad Smith on Tuesday pressed the world's governments to form an international body to protect against nation-state hacking, saying recent high-profile attacks showed a need for global norms that police government activity in cyberspace.
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T-Mobile U.S. quarterly revenue, profit beat estimates
(Reuters) - T-Mobile US Inc, the No.3 U.S. wireless carrier, reported quarterly profit and revenue above estimates as promotional offers helped add more subscribers.
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Monday, February 13, 2017
South Korea prosecution to decide on Samsung chief warrant by Wednesday
SEOUL (Reuters) - South Korean special prosecutor's office will decide no later than Wednesday whether to request an arrest warrant for Samsung Group [SAGR.UL] chief Jay Y. Lee, a suspect in a graft investigation that may topple President Park Geun-hye.
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ZTE warns of impact of U.S. sanction settlement penalties
HONG KONG (Reuters) - Chinese telecom equipment maker ZTE Corp warned on Tuesday that penalties it expects to incur for allegedly breaking U.S. sanctions against Iran could impact its results.
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Toshiba to unveil nuclear writedown as it scrambles for cash
TOKYO (Reuters) - Toshiba Corp will on Tuesday uncover the scale of a multi-billion dollar writedown from cost overruns at its U.S. nuclear arm, along with its recovery plans as the Japanese industrial conglomerate scrambles for cash.
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Exclusive: Wal-Mart to tear down walls between store, online buying operations - sources
CHICAGO (Reuters) - Wal-Mart Stores Inc for the first time will combine its own buying for products sold at its stores with purchases it makes for its website, sources said, a significant move to stamp out duplicate efforts as it consolidates buying operations to better fight Amazon.com Inc .
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Verizon's move to unlimited data ups ante in wireless war
NEW YORK (Reuters) - Verizon Communications Inc's announcement that it will once again offer an unlimited pricing plan marks a shift in its thinking as a price war among the four biggest U.S. wireless carriers accelerates.
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Apple hits record high but leaves some investors in dust
SAN FRANCISCO (Reuters) - Apple shares cruised to a record-high close Monday, helping catapult the S&P 500 stock index over the $20 trillion mark in what amounts to a victory for plain-vanilla mutual funds over a bevy of hedge fund managers who recently backed away from the iPhone maker.
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Samsung chief grilled for 15 hours in South Korea graft probe
SEOUL (Reuters) - Samsung Group [SAGR.UL] chief Jay Y. Lee was questioned by South Korea's special prosecutor for more than 15 hours as part of an investigation into a graft scandal that threatens to topple President Park Geun-hye.
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Toshiba to issue business risk warning on Tuesday: Nikkei
(Reuters) - Toshiba Corp will issue on Tuesday its first-ever warning that it may not be able to continue as a going concern, following massive nuclear-related losses, the Nikkei reported.
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GM, Toyota says U.S. rules limiting self-driving cars need to be eased
WASHINGTON (Reuters) - General Motors Co and Toyota Motor Corp officials will tell a U.S. House panel on Tuesday that automakers need changes to automotive safety rules to allow the deployment of self-driving cars on American roads.
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Drivers' strike paralyses Uber, Ola services in Indian capital
NEW DELHI (Reuters) - A strike in the Indian capital by thousands of Uber [UBER.UL] and Ola drivers demanding better pay has paralyzed the ride-hailing services that have grabbed business from traditional taxi and rickshaw operators with their cheaper fares.
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Sunday, February 12, 2017
Toshiba prepares to unveil nuclear hole, other perils threaten
TOKYO (Reuters) - Toshiba Corp will on Tuesday detail a writedown of close to $6 billion after bruising cost overruns at its U.S. nuclear arm, turning investor attention to the Japanese group's efforts to fix that and other balance sheet headaches.
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SoundCloud loses key executives amid fundraising drive
FRANKFURT (Reuters) - Music-streaming service SoundCloud has lost two senior executives and is seeking to raise new funding, the company said on Sunday, but denied a Financial Times report that it was running low on cash.
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Australian banks narrow focus of Apple Pay collective bargaining request
SYDNEY (Reuters) - Australian banks seeking permission from the country's competition regulator to bargain collectively with Apple Inc over its mobile payment system said on Monday they will focus on gaining access to the U.S. tech company's contactless payment function, removing the fees Apple charges as a bone of contention.
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South Korea prosecutor to summon Samsung's Lee again on suspicion of bribery
SEOUL (Reuters) - South Korea's special prosecutor said it would again summon Samsung Group scion Jay Y. Lee on Monday to question him on suspicion of bribery, as it investigates a graft scandal that has engulfed the country's president.
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Saturday, February 11, 2017
New FCC chair closely guards his strategy to restructure net neutrality
WASHINGTON (Reuters) - The new chairman of the U.S. Federal Communications Commission under President Donald Trump is keeping under wraps his strategy to revise or reverse the Obama administration's "net neutrality" rules, but emphasized he is committed to ensuring an open internet.
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Nuclear write-down leaves Toshiba with $3.5-billion loss in third-quarter: Nikkei
TOKYO (Reuters) - Japanese conglomerate Toshiba Corp probably suffered a group net loss of about 400 billion yen ($3.52 billion) in the nine months through December, the Nikkei reported on Sunday.
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Friday, February 10, 2017
Amazon warns that trade protectionism could hurt business
(Reuters) - Amazon.com Inc warned on Friday that government actions to bolster domestic companies against foreign competition could hurt its business, in a possible reference to U.S. President Donald Trump's "America First" agenda.
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FCC spectrum auction bidding ends at $19.6 billion
WASHINGTON (Reuters) - The U.S. Federal Communications Commission said Friday that bidding in the wireless spectrum auction has ended at $19.6 billion, significantly less than many analysts had initially forecast.
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Facebook to provide ad data for independent audit
(Reuters) - Facebook Inc said it would provide information about ads displayed on its platform for an audit, months after the social network admitted to overstating key ad metrics.
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Wells Fargo sets up artificial intelligence team in tech push
NEW YORK (Reuters) - Wells Fargo & Co has created a team to develop artificial intelligence-based technology and appointed a lead for its newly combined payments businesses, as part of an ongoing push to strengthen its digital offerings.
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Ford to invest $1 billion in autonomous vehicle tech firm Argo AI
SAN FRANCISCO (Reuters) - Ford Motor Co plans to invest $1 billion over the next five years in tech startup Argo AI with the target of developing an autonomous vehicle for production by 2021, the companies announced at a press conference on Friday.
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Italy's foreign ministry came under cyber attack in 2016: source
ROME (Reuters) - Italy's foreign ministry was hacked last year, a source close to the department said on Friday, confirming a report in the Guardian newspaper which also said Russia was suspected of perpetrating the attack.
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Bitcoin trading shrivels under Chinese government's glare
SHANGHAI (Reuters) - Trading volumes at China's three largest bitcoin exchanges have plummeted after the central bank put the virtual currency market under sharper scrutiny a month ago in a move that coincided with official efforts to stem capital outflows.
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Twitter advertising revenue falls, shares drop more than 10 percent
(Reuters) - Twitter Inc posted the slowest revenue growth since it went public four years ago, sending shares down more than 10 percent on Thursday on fears that rivals Snapchat and Facebook Inc were winning the war for advertising.
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Thursday, February 9, 2017
Remote control: Companies blur lines over who owns devices
(Reuters) - When Samsung Electronics remotely disabled the last of its flawed Galaxy Note 7 smartphones last month, it further blurred the lines between who ultimately controls your phone, or computer, car or appliance: you, or the companies that make it work?
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Twitter numbers paint grim profitability picture
(Reuters) - Twitter Inc's desultory earnings report on Thursday show a company with no evident path to profitability, as core costs climb more quickly than revenue while user growth stagnates.
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Zenefits cuts nearly half its workforce as startup's struggles continue
SAN FRANCISCO (Reuters) - Zenefits is laying off nearly half its staff as the software startup grapples with the fallout of insurance violations that resulted in hefty penalties from state regulators.
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Lloyds joins new British banking cyber defense alliance: sources
LONDON (Reuters) - Lloyds Banking Group is the latest bank to join a new British cyber security group for banks called the Cyber Defence Alliance (CDA), sources with direct knowledge of the matter told Reuters.
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Snap to spend $1 billion on Amazon cloud services
(Reuters) - Snap Inc, owner of the popular Snapchat app, said it expected to spend $1 billion over the next five years to use Amazon.com Inc's cloud services, in addition to the $2 billion cloud contract it already has with Google .
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Chinese bitcoin exchanges says to strengthen scrutiny of customers, sources of funds
SHANGHAI (Reuters) - China's three largest bitcoin exchanges said on Thursday they will strengthen oversight of customers' identities and sources of funds, in a bid to curb market speculation and prevent activities such as foreign currency exchange through bitcoin.
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Wednesday, February 8, 2017
Toshiba receives bid as high as $3.6 billion for chip business stake: source
TOKYO (Reuters) - Toshiba Corp has received an offer as high as 400 billion yen ($3.6 billion) for a 19.9 percent stake in its flash memory business, with other bids as low as 200 billion yen, a person directly involved in the deal told Reuters.
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Alibaba's Ant Financial in talks to raise more than $3 billion: report
HONG KONG (Reuters) - China's most valuable online finance company, Ant Financial, is looking to raise more than $3 billion in debt to fund international expansion, according to technology news website The Information.
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Exclusive: Tesla aims to start pilot production of Model 3 cars on February 20 - sources
DETROIT/SAN FRANCISCO (Reuters) - Tesla Inc has told suppliers it planned to begin test-building its Model 3 sedans on Feb. 20, according to people familiar with the matter, a move that could allay concerns about the company meeting its target to start production in July.
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Snap's older user base slowly growing ahead of IPO: analyst
(Reuters) - Snap Inc's Snapchat lags far behind rival social media outlets Facebook Inc, Instagram and Twitter Inc in reaching older users, but the soon-to-be public company has been growing that crucial audience, analysis by MoffettNathanson of a regulatory filing showed.
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Tesla may launch in India this summer: Musk
(Reuters) - Electric car maker Tesla Inc may enter the Indian market this summer, Chief Executive Elon Musk tweeted on Tuesday.
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Trump to meet with Intel CEO on Wednesday: White House
WASHINGTON (Reuters) - President Donald Trump will meet with Intel Corp chief executive Brian Krzanich on Wednesday afternoon, the White House said, offering no further details.
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Venture firm Trident Capital raises $300 million for cyber security startups
SAN FRANCISCO (Reuters) - Silicon Valley venture firm Trident Capital Cybersecurity said on Wednesday it had raised $300 million for a fund to invest in cyber security startups - a sign of the growing importance of securing computer systems amid concerns over state-sponsored hacks.
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Microsoft offers patent troll defense for cloud customers
(Reuters) - Microsoft Corp has thought up another way to attract potential customers to its cloud computing service: deterrent against patent trolls.
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Accenture beefs up blockchain security
NEW YORK (Reuters) - Accenture Plc has developed new technology that it says can help make blockchain applications more secure and could speed up their deployment in sectors such as finance.
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Tuesday, February 7, 2017
Japan's Sharp may begin construction on $7 bln U.S. plant before June 30: source
TOKYO (Reuters) - Japanese display maker Sharp Corp may start building a $7 billion plant in the United States before June 30, taking the lead on a project initially considered by its Taiwanese parent Foxconn, a person with knowledge of the plan said.
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EU moves closer to removing barriers for online media subscriptions
BRUSSELS (Reuters) - European Union institutions moved a step closer on Tuesday to letting consumers access their online subscriptions for services like Netflix or Sky when they travel across the bloc.
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Autodesk to name new CEO, extend deal with activist
(Reuters) - Software maker Autodesk Inc said on Tuesday that Chief Executive Carl Bass would step down, less than a year after it struck a deal with two activist investors agitating for changes at the company.
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Ireland challenges Facebook in threat to cross-border data pact
DUBLIN (Reuters) - Ireland's privacy watchdog has launched a bid to refer Facebook's data transfer mechanism to the European Union's top court in a landmark case that could put the shifting of data across the Atlantic under renewed legal threat.
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Monday, February 6, 2017
Channeling Steve Jobs, Apple seeks design perfection at new "spaceship" campus
SAN FRANCISCO (Reuters) - Inside the original Macintosh computer, Apple co-founder Steve Jobs inscribed the signatures of his team, revealing his deep concern for even the hidden features of his products.
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SK Hynix bids for Toshiba memory business stake - source
SEOUL (Reuters) - South Korea's SK Hynix Inc has entered the running for a stake in Toshiba Corp's memory chip business, seeing an opportunity to gain on rivals in the booming NAND market, a person familiar with the matter said on Tuesday.
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U.S. House passes bill requiring warrants to search old emails
WASHINGTON (Reuters) - The U.S. House of Representatives voted on Monday to require law enforcement authorities to obtain a search warrant before seeking old emails from technology companies, a win for privacy advocates fearful the Trump administration may work to expand government surveillance powers.
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Fed's Harker says more oversight of fintech good for the industry
SAN DIEGO (Reuters) - Philadelphia Federal Reserve Bank President Patrick Harker on Monday called for more regulatory oversight of the growing fintech sector, which includes a broad range of companies from payment apps like Square to online lending platforms such as Lending Club.
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U.S. tech firms file legal brief opposing Trump's travel ban
(Reuters) - Nearly 100 companies, including Apple , Google and Microsoft , banded together on Sunday to file a legal brief opposing President Donald Trump's temporary travel ban, arguing that it "inflicts significant harm on American business."
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Facebook, Google, others launch drive against fake news in France
PARIS (Reuters) - Social media companies Facebook, Google and a group of news organizations launched an initiative on Monday to tackle fake news stories in France, with the media in the spotlight as the country's presidential election approaches.
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Sunday, February 5, 2017
Samsung Group to disband its corporate strategy office after probe ends
SEOUL (Reuters) - Samsung Group [SAGR.UL] said it will disband its corporate strategy office after a special prosecution probe ends, setting a timeline on a pledge to wind up the office that has been criticized for its role in a national graft scandal.
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AMD stock could double in a year: Barron's
(Reuters) - Advanced Micro Devices Inc (AMD) shares could double in a year as the chip maker recoups ground lost to Intel Corp and increases its market share in the graphic chips area dominated by Nvidia Corp, Barron's said on Sunday.
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South Korea to strengthen battery safety rules after Note 7 fires
SEOUL (Reuters) - South Korea said on Monday it will strengthen lithium-ion battery safety requirements and conduct regular inspections to avoid repeats of fires which forced Samsung Electronics Co Ltd to withdraw its premium Galaxy Note 7 handset.
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Google, unlike Microsoft, must turn over foreign emails: U.S. judge
(Reuters) - A U.S. judge has ordered Google to comply with search warrants seeking customer emails stored outside the United States, diverging from a federal appeals court that reached the opposite conclusion in a similar case involving Microsoft Corp .
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Saturday, February 4, 2017
At Snap, cost of hosting sets high bar for revenue growth
SAN FRANCISCO (Reuters) - Snap Inc’s initial public offering filing seemed to show a company with a basic math problem: the company's cost of revenue for 2016 - the amount it had to spend just to keep the messaging service running - was $47 million higher than its $405 million in sales.
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Mobile app helps China recover hundreds of missing children
BEIJING (Reuters) - A mobile app helped Chinese authorities recover hundreds of missing children last year, Xinhua news agency reported on Saturday, in a country where child trafficking is rampant.
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Friday, February 3, 2017
Alibaba Group expands presence in Australia, New Zealand
SYDNEY (Reuters) - Chinese online retailer Alibaba Group opened its Australian and New Zealand headquarters in Melbourne on Saturday, its first expansion in the region as it seeks to tap growing global demand for products from the two countries.
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Snap shoots for the sky, promises little in $3 billion IPO pitch
(Reuters) - Snapchat owner Snap Inc shot the opening salvo in its $3 billion initial public offering on Thursday, outlining aggressive expansion plans but offering new investors no say on how the company is run and no promise of profits.
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Google sells satellite imaging business Terra Bella to Planet Labs
(Reuters) - Alphabet Inc's Google said on Friday it would sell its satellite imaging business, Terra Bella, to Planet Labs, a San Francisco-based private satellite operator founded by former NASA scientists.
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Lacking voting rights, Snap IPO to test fund governance talk
BOSTON/SAN FRANCISCO (Reuters) - Shares sold in a $3 billion initial public offering by the parent of Snapchat will lack voting power, testing the commitment of big asset managers in their recent fight for investor rights.
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FCC closes 'sponsored data' inquiries
WASHINGTON (Reuters) - The U.S. Federal Communications Commission said on Friday it was closing inquiries into sponsored data programs and TV services offered by AT&T Inc, Verizon Communications Inc , Comcast Corp , T-Mobile USA Inc undertaken during the Obama administration without taking any action.
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Toyota, Suzuki near technology partnership agreement: Nikkei
(Reuters) - Japan's Toyota Motor Corp and Suzuki Motor Corp are nearing a partnership agreement to develop technology, including self-driving, the Nikkei business daily reported on Saturday.
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Amazon shares dip as cloud revenue misses Street; analysts still upbeat
(Reuters) - Amazon.com Inc's shares fell as much as 4.2 percent on Friday after the company missed Wall Street targets for its closely watched cloud computing business.
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U.S. technology startups panic over immigration ban
SAN FRANCISCO (Reuters) - Silicon Valley venture capitalist Kate Mitchell said her startup companies have a message for their employees who are foreign nationals: Don't travel outside the country right now.
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Japan's robotics startup ZMP Inc hopes to list in coming months: CEO
TOKYO (Reuters) - Japanese robotics startup ZMP Inc hopes to list on the Tokyo Stock Exchange in the coming months, after a delay late last year due to client information being leaked on to the internet, the firm's founder and CEO told Reuters on Friday.
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Thursday, February 2, 2017
Amazon forecasts lower operating income, shares dip
(Reuters) - Amazon.com Inc forecast a greater-than-expected dip in operating income for the current quarter, a sign of its dedication to building expensive new warehouses and creating video content.
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Uber CEO quits Trump's business advisory group
SAN FRANCISCO/WASHINGTON (Reuters) - Uber Technologies Inc Chief Executive Officer Travis Kalanick has quit President Donald Trump's business advisory group after coming under criticism for taking part, the company said on Thursday.
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FCC to vote on advanced U.S. broadcast TV standards
WASHINGTON (Reuters) - The U.S. Federal Communications Commission is moving forward to advance a new broadcasting standard that would improve television picture quality, allow better access to programs via mobile phones and let broadcasters turn on a television set to send emergency alerts.
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Microsoft asks Trump administration for exception program on immigration orders
(Reuters) - Microsoft Corp on Thursday said it had sent a proposal to U.S. President Donald Trump's administration to create a program to let people from seven predominantly Muslim nations enter and leave the United States on business or family emergency travel if they hold a valid work or student visa and have not committed any crimes.
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Irish calculation similar to EU on Apple tax estimate: minister
DUBLIN (Reuters) - The European Commission's estimate that Apple owes Ireland up to 13 billion euros ($14 billion) in a disputed tax ruling is unlikely to be altered greatly by Dublin's calculations, the Irish finance minister said on Thursday.
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Wednesday, February 1, 2017
Nokia beats market expectations in fourth quarter
HELSINKI (Reuters) - Finnish network equipment maker Nokia reported on Thursday a better-than-expected quarterly profit, as acquisition of Franco-American Alcatel-Lucent and cost cuts helped it in the tough networks market.
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Samsung Electronics may build a U.S. manufacturing base for appliances: source
SEOUL (Reuters) - Samsung Electronics Co Ltd may build a manufacturing base in the United States for its home appliances business, a person familiar with the matter told Reuters on Thursday, amid growing concerns about protectionist policies pursued by the new Trump administration.
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Samsung Electronics to launch web payments service for Android phones in South Korea
SEOUL (Reuters) - Tech giant Samsung Electronics Co Ltd said on Thursday it will launch a mobile web payments service for all smartphones powered by Google Inc's Android mobile operating system in South Korea in the first quarter.
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Exclusive: Snap's secrecy frustrates banks' pursuit of IPO glory
(Reuters) - Some investment banks seeking to be added as underwriters to Snapchat owner Snap Inc's initial public offering registration document have been denied access to review it before it is made public this week, according to people familiar with the matter.
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U.S. Jury issues $500 million verdict in Facebook virtual reality lawsuit
(Reuters) - A U.S. jury in Texas on Wednesday ordered Facebook Inc., its virtual reality unit Oculus, and other defendants to pay a combined $500 million to ZeniMax Media Inc., a video game publisher that says Oculus stole its technology.
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Tesla drops 'Motors' from name as CEO Musk looks beyond cars
(Reuters) - Tesla Motors Inc changed its name to "Tesla Inc" as Chief Executive Elon Musk looks to transform the Silicon Valley firm from an electric car maker to a diversified energy products company.
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Strong iPhone 7 sales 'a bridge' to Apple's next upgrade
(Reuters) - "Things don't have to change the world to be important," Apple Inc co-founder Steve Jobs said in an interview in 1996.
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New York attorney general sues Charter over internet speeds
NEW YORK (Reuters) - New York Attorney General Eric Schneiderman filed a lawsuit on Wednesday that accuses Charter Communications Inc's Spectrum cable unit of short-changing customers on internet speeds.
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With new hybrid, Nissan offers cheaper route to electric cars
YOKOHAMA, Japan (Reuters) - Nissan Motor Co has taken a step back into gasoline hybrids with its Note e-Power model, which the Japanese automaker hopes will act as a gateway for drivers who will later shift to all-electric cars.
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Activision Blizzard creates consumer products division
(Reuters) - Activision Blizzard Inc said on Wednesday it was creating a consumer products division to tap into the popularity of its videogame franchises, including "Call of Duty", "Overwatch" and "World of Warcraft".
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Apple defies Wall Street with strong revival in iPhone sales
SAN FRANCISCO (Reuters) - Apple Inc reclaimed the throne as the world's top smartphone seller for the first time in five years on Tuesday, beating out rival Samsung in units shipped for the holiday quarter and boosting revenues with a strong showing for its new, top-of-the-line iPhone 7 Plus.
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