DHAKA (Reuters) - Officials of Bangladesh Bank may have been involved in a brazen theft of $81 million from its account with the New York Federal Reserve Bank in February, the head of a government-appointed panel investigating the cyber heist told reporters on Monday.
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Monday, May 30, 2016
Sunday, May 29, 2016
Data analysis from Paris raid on Google will take months, possibly years: prosecutor
PARIS (Reuters) - Analysis of data seized by investigators in last week's raid of Google's Paris headquarters could possibly take years, French financial prosecutor Eliane Houlette said on Sunday.
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Gawker privacy lawsuit evolves into battle of tech billionaires
SAN FRANCISCO (Reuters) - Billionaire media owner Pierre Omidyar is backing news and entertainment web site Gawker Media in its lawsuit against wrestler Hulk Hogan, adding a new twist to a case pitting technology money against press freedom.
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Saturday, May 28, 2016
French finance minister rules out Google tax deal, more firms could be targeted
PARIS (Reuters) - France will "go all the way" to ensure that multinationals operating on its soil pay their taxes and more cases could follow after Google and McDonald's were targeted by tax raids, Finance Minister Michel Sapin said.
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Friday, May 27, 2016
Facebook expands ads on third-party apps, websites to beyond users
(Reuters) - Facebook Inc said its customers' ads would now be visible on third-party apps and websites to everyone who has ever visited its website, and not just to users logged into its social networking service.
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Push for encryption law falters despite Apple case spotlight
WASHINGTON/ SAN FRANCISCO (Reuters) - After a rampage that left 14 people dead in San Bernardino, key U.S. lawmakers pledged to seek a law requiring technology companies to give law enforcement agencies a "back door" to encrypted communications and electronic devices, such as the iPhone used by one of the shooters.
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Thursday, May 26, 2016
Chinese users criticize Microsoft's push for Windows 10 upgrade: Xinhua
SHANGHAI (Reuters) - Chinese users of Microsoft products are criticizing the software company's push to get them to mandatorily upgrade their Windows operating systems, the official Xinhua news agency reported on Friday.
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Snapchat raises $1.81 billion in new funding round
(Reuters) - Messaging app Snapchat has raised $1.81 billion in funding, the company reported in a U.S. regulatory filing on Thursday, a sign that investor interest is strong despite concerns among some venture capitalists that the platform is struggling to attract advertisers.
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Exclusive: Verizon turns to former Yahoo bankers for bid - sources
NEW YORK/SAN FRANCISCO (Reuters) - Verizon Communications Inc is working on its bid for Yahoo Inc's core assets with an investment bank which was, as recently as last year, one of the U.S. internet company's top advisers, people familiar with the matter said.
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Alphabet's Google beats Oracle in U.S. Android trial
SAN FRANCISCO (Reuters) - A U.S. jury handed Alphabet's Google a major victory on Thursday in a long-running copyright lawsuit against Oracle Corp, saying the law allowed Google's use of Oracle's software to create its Android smartphone operating system.
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Two Twitter senior execs to leave in latest management shuffle
(Reuters) - Twitter Inc said senior executives Jana Messerschmidt and Nathan Hubbard are planning to leave the company in its latest management shuffle.
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Symantec says SWIFT malware linked to attack in Philippines
(Reuters) - The malware that was used to steal $81 million from Bangladesh's central bank has been linked to another cyber attack, this time on a bank in the Philippines, cyber security company Symantec Corp said in a blog post on Thursday.
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South Africa's Standard Bank taking action after ATM heist in Japan
JOHANNESBURG (Reuters) - South Africa's Standard Bank is taking action after criminals in Japan stole millions of dollars from automatic teller machines using fake credit cards from the lender, its joint CEOs said on Thursday.
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Exclusive: New York financial regulator gearing up to probe online lenders - source
(Reuters) - New York state's financial regulator, which recently launched a probe into LendingClub Corp, is preparing to look into the activities at other online lenders and whether they should be licensed in New York, a person familiar with the matter said on Wednesday.
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China's Lenovo swings to full-year loss on M&A costs
HONG KONG (Reuters) - China's Lenovo Group Ltd on Thursday reported its first loss in six years, with earnings pulled down by acquisition and restructuring costs as well as weak sales of smartphones and personal computers (PCs).
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Wednesday, May 25, 2016
HP Inc profit beats Street amid weak market for PCs, printers
(Reuters) - HP Inc , which houses the former Hewlett-Packard Co's legacy hardware business, reported a better-than-expected quarterly profit as aggressive cost cutting helped counter weak demand for personal computers and printers.
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Automakers, tech companies decide to make deals, not war
DETROIT (Reuters) - A flurry of deals between big automakers and ride hailing and transportation startups is rewriting the playbook in the contest to control the future of personal transportation.
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Exclusive: Apple explores charging stations for electric vehicles
SAN FRANCISCO (Reuters) - Apple Inc is investigating how to charge electric cars, talking to charging station companies and hiring engineers with expertise in the area, according to people familiar with the matter and a review of LinkedIn profiles.
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Exclusive: In Ecuador cyber heist, thieves moved $9 million to 23 Hong Kong firms
HONG KONG/CHICAGO (Reuters) - Cyber thieves who stole $12 million from an Ecuadorian bank in 2015 routed the funds through 23 companies registered in Hong Kong, some of them with no clear business activity, according to previously unreported court filings and judicial rulings.
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Exclusive: Bangladesh probes 2013 hack for links to central bank heist
DHAKA (Reuters) - Bangladesh police are reviewing a nearly forgotten 2013 cyber heist at the nation’s largest commercial bank for connections to February's $81 million heist at the country's central bank, a senior law enforcement official said on Wednesday.
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India says Apple must sell locally-sourced goods to set up stores: source
NEW DELHI (Reuters) - India has said Apple Inc must meet a rule obliging foreign retailers to sell at least 30 percent locally-sourced goods if it wishes to open stores in the country, a senior government official told Reuters.
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Irish privacy watchdog refers Facebook's U.S. data transfers to EU court
BRUSSELS/DUBLIN (Reuters) - Data transfers to the United States by companies such as Facebook and Google face a renewed legal threat after the Irish privacy watchdog said on Wednesday it would refer Facebook's data transfer mechanisms to the top EU court.
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EU to pursue checks on web platform deals with businesses
BRUSSELS (Reuters) - The European Commission will check on whether it should do more to curb possible unfair practices in the terms of use set by web platforms such as Google, Amazon and Apple Inc's App Store.
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SEC investigating Alibaba's accounting practices
(Reuters) - Alibaba Group Holding Ltd said it was being investigated by the U.S. Securities and Exchange Commission over whether the Chinese e-commerce company's accounting practices violated any federal laws.
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HP Enterprise to merge IT services unit with Computer Sciences
(Reuters) - Hewlett Packard Enterprise Co said it would spin off and merge its struggling IT services business with Computer Sciences Corp, allowing the company to focus on its cloud services business and other fast-growing units.
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EU seeks to make buying online abroad easier, postage cheaper
BRUSSELS (Reuters) - The European Commission proposed on Wednesday to ban Internet retailers from treating customers differently depending on where they live to encourage consumers to shop across the bloc for online products.
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Microsoft to trim smartphone business, plans to cut 1,850 jobs
HELSINKI (Reuters) - Microsoft Corp said on Wednesday it will trim down its smartphone business by cutting 1,850 jobs, most of them in Finland, and write down $950 million from the operation.
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Austria's FACC, hit by cyber fraud, fires CEO
VIENNA (Reuters) - The head of Austrian aerospace parts maker FACC has been fired after the company was hit by a cyber fraud that cost it 42 million euros ($47 million).
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Apple rehires prominent security pro as encryption fight boils
SAN FRANCISCO (Reuters) - Apple Inc , which has resisted pressure from U.S. law enforcement to unlock encrypted iPhones, this month rehired a top expert in practical cryptography to bring more powerful security features to a wide range of consumer products.
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Tuesday, May 24, 2016
Foxconn says won't sell Sharp's solar power business
TOKYO (Reuters) - Taiwan's Foxconn said on Wednesday it will not sell Sharp Corp's solar power business, amid concerns from business partners over a possible closure of the struggling division.
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Samsung Elec to defend interests against Huawei patent suits
SEOUL (Reuters) - Tech giant Samsung Electronics Co Ltd said on Wednesday it will defend itself against patent lawsuits filed by smartphone rival Huawei Technologies Co Ltd [HWT.UL].
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Toyota, Uber latest to join forces in ride-sharing rush
San Francisco (Reuters) - Toyota Motor Corp and Uber said on Tuesday they would partner to explore ridesharing, including an investment by the Japanese automaker in the on-demand ride company, the latest in a wave of high-profile partnerships between carmakers and ride-sharing services.
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Twitter drops photos, videos from 140-character limit
(Reuters) - Twitter Inc said on Tuesday that user names and media attachments such as photos and videos will no longer count toward the length of a tweet but the 140-character limit will remain.
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China's Huawei sues Samsung Electronics claiming mobile patent infringement
HONG KONG (Reuters) - Huawei Technologies Co Ltd [HWT.UL] said on Wednesday it has filed lawsuits against Samsung Electronics Co Ltd claiming infringement of smartphone patents, in the first such case by the Chinese firm against the world's biggest mobile maker.
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Investigators raid Google Paris HQ in tax evasion inquiry
PARIS (Reuters) - French investigators raided Google's Paris headquarters on Tuesday as part of a tax evasion inquiry, the financial prosecutor's office said.
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Dubai says opens world's first functioning 3D-printed office
DUBAI (Reuters) - Dubai has opened what it said was the world's first functioning 3D-printed office building, part of a drive by the Gulf's main tourism and business hub to develop technology that cuts costs and saves time.
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More challenges than cheer for Apple chief on Asia tour
MUMBAI/BEIJING (Reuters) - With slowing iPhone sales in China, Apple Inc is having to take India more seriously, but investors hoping for a stock price fillip from CEO Tim Cook's week-long Asia trip instead were given a taste of the daunting challenges that lie ahead.
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Nokia could cut 10,000-15,000 jobs worldwide: union
HELSINKI (Reuters) - Telecom network equipment maker Nokia is likely to cut 10,000 to 15,000 jobs globally as part of a cost-cutting program following its acquisition of Franco-American rival Alcatel-Lucent , a Finnish union representative said.
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Financial tech startups compete for overlooked U.S. immigrant market
MEXICO CITY (Reuters) - For two decades, Noe Sanchez sent money from California to his father in Mexico City through storefront outlets of traditional remittance firms such as Western Union.
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Monday, May 23, 2016
Sony sees near-flat growth in annual profit as quake damage weighs
TOKYO (Reuters) - Japan's Sony Corp said on Tuesday it expects operating profit to rise just 2 percent in the year through March 2017, weighed down by damage from deadly earthquakes that halted production at its image sensor plant in Kumamoto.
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South Korea's Mando in talks to supply parts for Tesla's Model 3: source
SEOUL (Reuters) - Mando Corp is in talks with Tesla Motors to supply parts for its Model 3 car, a person with direct knowledge of the matter said, seeking to join other South Korean firms supplying components for Tesla's more affordable electric cars.
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With HoloLens, Microsoft aims to avoid Google's mistakes
SAN FRANCISCO (Reuters) - When Google introduced its Google Glass smart glasses four years ago, it turned to Glass-sporting sky divers buzzing a San Francisco convention center, Glass-adorned models at a glitzy fashion show and a Twitter campaign to notify early "Glass Explorers" of their luck in snagging a pair.
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NY lawmaker warns on U.S. financial security after SWIFT attacks
WASHINGTON (Reuters) - Recent hacks of international banks through the SWIFT messaging system raise serious questions about cyber-related risks to U.S. firms, Representative Carolyn Maloney wrote on Monday in a letter to the country's top banking regulators that asked about measures to strengthen systems' security.
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Facebook says no evidence of political bias found on 'Trending Topics'
(Reuters) - Facebook Inc said on Monday that an investigation into its editorial practices had found no evidence of political bias in the selection or prominence of stories shown on its Trending Topics feature.
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In Oracle vs. Google retrial, lawyers make final pitches to jury
SAN FRANCISCO (Reuters) - Oracle Corp filed a multibillion-dollar copyright lawsuit against Google because Oracle failed in its own attempts to enter the smartphone market, a Google attorney said in closing arguments on Monday.
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U.S. consumers buck investors' rush to self-driving cars : study
DETROIT (Reuters) - U.S. consumers still resist the notion of self-driving cars, according to a University of Michigan study released on Monday, the latest sign that investors and automakers may be rushing into a business where demand is limited at best.
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Iridium launches timing, location service as GPS back-up
WASHINGTON (Reuters) - U.S. firm Iridium Communications Inc on Monday said its Satellite Time and Location (STL) system was ready for use as an alterative or companion to the U.S. Air Force's Global Positioning System (GPS) satellites.
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Hackers probe defenses of Middle East banks : FireEye
SINGAPORE (Reuters) - Hackers are probing the defenses of banks in the Middle East, targeting employees with infected emails which gather information about the banks' network and user accounts, FireEye researchers said.
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On-demand tech support companies HelloTech, Geekatoo merge
SAN FRANCISCO (Reuters) - Los Angeles-based startup HelloTech and rival in-home tech support company Geekatoo on Monday said they had merged, in a sign of consolidation in the hotly competitive on-demand sector.
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To halt smartphone slide, Samsung rewrites playbook
SEOUL (Reuters) - From the way it chooses smartphone components to the models it brings to market, Samsung Electronics has undergone a painful process of breaking from its past to reverse a slide in its handset business.
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Sunday, May 22, 2016
Toshiba to more than halve its capital base to about $1.8 billion
TOKYO (Reuters) - Japan's Toshiba Corp said on Monday it would more than halve its capital base - a move that comes in the wake of a $1.3 billion accounting scandal last year.
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Uber deal shows divide in labor's drive for role in 'gig economy'
(Reuters) - The International Association of Machinists and Aerospace Workers trumpeted an agreement reached earlier this month to represent New York Uber drivers, saying it "gives organized labor an opportunity to shape the new economy in a way that supports and values workers and their families."
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EU countries call for the removal of barriers to data flows
BRUSSELS (Reuters) - Half of the European Union's member states on Monday called for the removal of barriers to the free flow of data both within and outside the 28-nation bloc to ensure the continent can benefit from new data-driven technologies.
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First Data shares could rise more than 70 percent: Barron's
(Reuters) - First Data Corp shares could rise as much as 70 percent if the company's performance continues to improve, according to a report on Sunday from the financial publication Barron's.
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Red Hat shares could rise 30 percent in a year: Barron's
(Reuters) - Red Hat Inc shares could rise 30 percent in a year as more companies use its server software, according to a report on Sunday in the financial publication Barron's.
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Friday, May 20, 2016
Wrist-band device for alcohol monitoring wins U.S. prize
SAN FRANCISCO (Reuters) - A San Francisco-based company has won a U.S. government-sponsored competition with an alcohol monitoring devices that can be worn on the wrist, the latest milestone in the development of wearable technologies that monitor and diagnose medical conditions.
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Nokia cuts more than a thousand jobs in Finland
HELSINKI (Reuters) - Nokia is cutting 1,032 jobs in Finland as part of a cost-cutting program following its acquisition of Alcatel-Lucent, the telecom network equipment maker said in a statement on Friday.
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Exclusive: Suppliers question Tesla's goals for Model 3 output
DETROIT/SAN FRANCISCO (Reuters) - Tesla Motors Inc has surprised parts makers with plans to move up the launch of high-volume production of its Model 3 to 2018, two years earlier than planned - an acceleration that supplier executives and industry consultants said would be difficult to achieve and potentially costly.
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Apple boss to meet India's Modi and his gold iPhone
MUMBAI (Reuters) - When Apple Inc CEO Tim Cook meets Indian Prime Minister Narendra Modi this weekend as part of an Asian tour aimed at boosting sales, he will sit down with a man whose penchant for a selfie - often using his gold iPhone - can get him into trouble.
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Swedish authorities hold crisis talks after suspected telecoms sabotage
STOCKHOLM (Reuters) - Sweden's civil emergency agency held a crisis meeting on Friday to discuss a number of cases of suspected sabotage involving telecommunications masts and a computer outage that grounded air traffic across much of the country.
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Thursday, May 19, 2016
Special Report: Cyber thieves exploit banks' faith in SWIFT transfer network
LONDON/CHICAGO (Reuters) - Shortly after 7 p.m. on January 12, 2015, a message from a secure computer terminal at Banco del Austro (BDA) in Ecuador instructed San Francisco-based Wells Fargo to transfer money to bank accounts in Hong Kong.
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Google self-drive CEO: No plans to expand Fiat Chrysler partnership
WASHINGTON (Reuters) - Google has no plans to expand its partnership with Fiat Chrysler Automobiles NV to create a self-driving car, the program chief at the Alphabet Inc unit said on Thursday, affirming that the technology company was still in talks with other potential partners.
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Apple unveils new store design in San Francisco
(Reuters) - Apple Inc unveiled a new vision for its hugely successful retail stores on Thursday, aiming to give shoppers the experience of setting foot in the headquarters of the company credited with inventing the smartphone.
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Netflix, Amazon face EU quota on European works
BRUSSELS (Reuters) - Online video streaming services such as Netflix and Amazon Prime will be required to devote at least a fifth of their catalogs to European content under proposals set to be announced next week.
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Group calls on U.S. to speed up favorable regulations for autonomous cars
WASHINGTON (Reuters) - A group seeking to reduce U.S. dependence on foreign oil on Thursday called on policymakers to remove regulatory hurdles in order to accelerate the deployment of self-driving cars, as well as revise tax incentives to boost sales of less expensive electric vehicles.
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Larry Page spars with Oracle attorney at Android trial
SAN FRANCISCO (Reuters) - Google did not pay to use Oracle's software in millions of smartphones, but the company believed that the intellectual property was free for anyone to use, Larry Page, chief executive of Google's parent company, told jurors in court on Thursday.
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Senators introduce bill to block expansion of FBI hacking authority
WASHINGTON (Reuters) - A small group of bipartisan senators introduced a bill Thursday that would block a pending judicial rule change allowing U.S. judges to issue search warrants for remote access to computers in any jurisdiction, even overseas, arguing the change would expand the FBI’s hacking authority.
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In meeting with Apple's Cook, China regulator stresses security
BEIJING (Reuters) - The head of China's industry and technology regulator stressed Chinese users' security in a meeting with Apple Inc's chief executive in Beijing, as the U.S. tech titan stumbles in its biggest offshore market.
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Google appeals French order for global 'right to be forgotten'
BRUSSELS (Reuters) - Alphabet Inc's Google appealed on Thursday an order from the French data protection authority to remove certain web search results globally in response to a European privacy ruling, escalating a fight on the territorial reach of EU law.
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Google doubles down on artificial intelligence with Home and Allo
MOUNTAIN VIEW, California (Reuters) - Alphabet's Google Inc unveiled its answer to Amazon's Alexa virtual assistant along with new messaging and virtual reality products at its annual I/O developer conference on Wednesday, doubling down on artificial intelligence and machine learning as the keys to its future.
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Wednesday, May 18, 2016
Bangladesh bank official's computer was hacked to carry out $81 million heist: diplomat
MANILA (Reuters) - The computer of a Bangladesh central bank official was hacked to carry out one of the largest cyber heists in history, a Bangladesh diplomat said on Thursday.
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LinkedIn invalidates millions of potentially compromised passwords
(Reuters) - A 2012 LinkedIn data theft may have affected far more users than originally thought, the professional networking site said on Wednesday.
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Android's 'n-word' poll sparks online jeers
(Reuters) - Google's Android ran afoul of social media users on Wednesday after encouraging people to nominate a word starting with the letter "N" for the latest version of its mobile operating platform.
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Exclusive: UK banks ordered to review cyber security after SWIFT heist
LONDON (Reuters) - The Bank of England ordered UK banks to detail steps taken to secure computers connected to the SWIFT bank messaging network about two months after a still-unidentified group used the system to steal $81 million from Bank Bangladesh, according to three people familiar with the effort.
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Netflix launches website for internet speed test
(Reuters) - Netflix Inc said on Wednesday that it had launched a website to check the speed of a mobile or broadband internet connection.
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Facebook's politics under scrutiny but federal oversight seen unlikely
WASHINGTON (Reuters) - As Facebook Inc Chief Executive Mark Zuckerberg prepares to meet conservative leaders on Wednesday to discuss allegations about political bias at the social media website, one thing he may not have to worry about is federal regulation.
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BMW's i3 electric vehicle can suddenly lose power: U.S. lawsuit
(Reuters) - A U.S. owner of a BMW i3 has filed a lawsuit claiming that the German automaker's electric vehicle can experience a sudden loss of power when a feature designed to nearly double its driving range is deployed.
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Nokia name to return to mobile phones after licensing deal
HELSINKI (Reuters) - The Nokia name will return to the mobile phone market after a company backed by one of its former executives teamed up with manufacturer Foxconn to buy the rights to the brand for mobile devices.
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Fitbit buys mobile payment technology from Silicon Valley startup
(Reuters) - Fitbit Inc said it bought wearable payment technology assets from Silicon Valley-based startup Coin, as it looks to develop mobile payment technology for its wearable fitness devices.
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HK regulator says Alibaba broke takeover rules due to 'special deal'
HONG KONG (Reuters) - Hong Kong's securities regulator said on Wednesday that Chinese e-commerce giant Alibaba Group Holding Ltd breached takeover rules in the purchase of a healthcare firm in 2014 because it also bought a company owned by the brother of the healthcare firm's vice chairman at "favourable terms".
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Microsoft to sell feature phone business to Foxconn subsidiary, HMD Global
(Reuters) - Microsoft Corp said it is selling its entry-level feature phone assets to FIH Mobile Ltd and HMD Global Oy for $350 million.
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German cabinet gives green light to electric car incentives: source
BERLIN (Reuters) - The German cabinet approved a new incentive scheme on Wednesday worth about 1 billion euros ($1.1 billion) to boost demand for electric cars and will exempt vehicles from tax for ten years, three government sources told Reuters.
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Hyundai Motor to launch new fuel cell car in early 2018: exec
SEOUL (Reuters) - Hyundai Motor Co plans to launch its next-generation fuel-cell electric vehicle in early 2018, Vice Chairman Yang Woong-chul said on Wednesday, to better compete with Japanese rivals and meet tougher emissions rules.
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Tuesday, May 17, 2016
U.S. banks push SWIFT to boost security after hacks: Bloomberg
(Reuters) - Major U.S. banks are pushing the SWIFT messaging network to boost security following cyber attacks in Bangladesh and Vietnam involving fraudulent transfer requests, Bloomberg News reported on Tuesday, citing people familiar with the matter.
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Apple boss Cook to tap Indian software talent during maiden visit
MUMBAI/NEW DELHI (Reuters) - Apple Inc is set to announce plans to expand its Indian software development center and build an accelerator program for local start-ups, two sources aware of the investment said on Tuesday, hours before Chief Executive Tim Cook's maiden visit.
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Oracle co-CEO says Google caused Oracle revenue to plummet
SAN FRANCISCO (Reuters) - Longtime customers dramatically reduced the amount of licensing revenue they paid to use Oracle products after Google stole its copyrighted software to enter the smartphone market, Oracle's co-chief executive Safra Catz told jurors on Tuesday.
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Mozilla bid to intervene in U.S. child porn case rejected
(Reuters) - A federal judge has rejected Mozilla Corp's request to force the U.S. government to disclose a vulnerability related to the Firefox web browser that the company says was exploited by the FBI to investigate users of a large and secretive child pornography website.
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Sony to build up AI as key business pillar, invests in U.S. start-up
TOKYO (Reuters) - Japan's Sony Corp said it plans to build up its artificial intelligence (AI) business and eventually turn it into a major revenue source, beginning with an investment in a U.S. start-up.
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Corvex discloses large Pandora stake, pushes for sale-letter
(Reuters) - Corvex Management LP disclosed on Monday that it owns 9.9 percent of Pandora Media Inc and urged the internet music streaming company to explore a sale instead of pursuing a "costly and uncertain business plan."
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Microsoft says UK staying in EU important for investment
LONDON (Reuters) - Microsoft said on Tuesday that Britain should stay in the European Union if it wanted to receive more investment, the same day the Confederation of British Industry urged firms to discuss the vote with staff.
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Monday, May 16, 2016
Twitter to eliminate photos and links in character count: report
(Reuters) - Twitter Inc users will soon have more flexibility in writing tweets because the company plans to stop including photos and links as part of its 140-character limit, according to a Bloomberg report.
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Failed hack via SWIFT on Vietnam bank tried to send funds to Slovenia: central bank
HANOI (Reuters) - Vietnam's central bank said on Tuesday a failed hacking attempt on Tien Phong Bank (TPBank) using the SWIFT messaging system sought to fraudulently transfer 1.2 million euros ($1.36 million) to a Slovenian bank late last year in one transaction.
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Oracle co-CEO says it did not buy Sun Micro to sue Google
SAN FRANCISCO (Reuters) - Oracle Corp did not acquire Sun Microsystems in 2009 in order to launch a copyright lawsuit against Google, but rather to protect its products that relied on Sun's software, Oracle co-Chief Executive Safra Catz told jurors on Monday.
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Key plaintiff objects to deal in Uber driver lawsuit
SAN FRANCISCO (Reuters) - A key plaintiff in a driver class action against Uber said he does not support a proposed settlement in which thousands of drivers would receive up to $100 million, but remain independent contractors instead of employees.
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Apple's Cook visits Beijing after China woes, Didi deal
BEIJING (Reuters) - Apple Inc Chief Executive Tim Cook visited Beijing on Monday, days after announcing a $1 billion deal with ride-hailing app Didi Chuxing, and as the U.S. firm tries to reinvigorate sales in China, its second-largest market after the United States.
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U.S. top court hands win to Spokeo in class action case
WASHINGTON (Reuters) - The U.S. Supreme Court on Monday handed a narrow victory to Spokeo Inc over the online people-search company's bid to avoid a class action lawsuit for including incorrect information in its database.
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Mobileye China sees boom in sales as government moves on automated driving systems
BEIJING (Reuters) - Mobileye NV expects its China sales to increase "exponentially" after the country moves to require advanced driver assistance systems (ADAS) in all buses and trucks, an executive said on Monday.
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Game on: Nintendo eyes expansion into film business
TOKYO (Reuters) - Movies like "Mario Kart" and "The Legend of Zelda" could soon be coming to a theater near you.
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Facebook's Zuckerberg to meet conservatives on political bias flap
(Reuters) - Facebook Chief Executive Mark Zuckerberg will meet this week with prominent conservatives in the media, a spokesman said on Sunday, to address allegations of political bias at the popular social networking site.
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Sunday, May 15, 2016
Didi Chuxing planning New York IPO in 2017: Bloomberg
(Reuters) - Ride hailing app Didi Chuxing is preparing for an initial public offering in New York, Bloomberg reported, citing people familiar with the matter.
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Amazon to launch new private-labels in coming weeks: WSJ
(Reuters) - Amazon.com Inc will launch new lines of its private-label brands in the coming weeks, the Wall Street Journal reported, citing people familiar with the matter.
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Google faces record 3 billion euro EU antitrust fine: Telegraph
LONDON (Reuters) - Google faces a record antitrust fine of around 3 billion euros ($3.4 billion) from the European Commission in the coming weeks, British newspaper The Sunday Telegraph said.
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Facebook, Twitter, Youtube face hate speech complaints in France
PARIS (Reuters) - Three French anti-racism associations said on Sunday they would file legal complaints against social networks Facebook , Twitter and Google's Youtube for failing to remove "hateful" content posted on their platforms.
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Can Buffett-backed bid unlock Yahoo growth where others failed?
SAN FRANCISCO (Reuters) - Warren Buffett struck media gold with a 2012 investment in debt-laden Media General Inc. Now the famed investor may try to reprise that success by supporting a bid for Yahoo Inc's Internet assets.
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Saturday, May 14, 2016
Apple, Chinese rideshare deal heats up race for tech-smart cars
SAN FRANCISCO (Reuters) - Apple Inc's $1 billion investment in Chinese ride sharing company Didi Chuxing intensifies a race to acquire technology, talent and market access in a rapidly evolving global personal transportation market.
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Exclusive: Warren Buffett, Quicken Loans founder in Yahoo bid - sources
(Reuters) - Berkshire Hathaway Inc Chairman Warren Buffett is backing a consortium vying for Yahoo Inc's internet assets that includes Quicken Loans Inc founder Dan Gilbert, people familiar with the matter said on Friday.
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Friday, May 13, 2016
New York Fed defends fund transfer after Bangladesh heist
(Reuters) - The Federal Reserve Bank of New York is standing by its procedures for wiring funds after facing scrutiny in the wake of the $81 million cyber heist at the Bangladesh central bank, a letter released by a congresswoman on Friday showed.
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Silicon Valley venture capitalists raise more money, give less away
SAN FRANCISCO (Reuters) - Venture capitalists are raising money at the fastest rate in a decade, raking in about $13 billion in the first quarter of 2016.
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Facebook launches investigation into report of political bias
(Reuters) - Facebook Inc, the social networking powerhouse, is conducting a full investigation into allegations of political bias, Chairman and Chief Executive Officer Mark Zuckerberg said in a statement late Thursday.
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Personal data of Chinese elites purportedly leaked on Twitter
BEIJING (Reuters) - The purported personal details of numerous Chinese business moguls and politically-connected elite have been posted to an anonymous Twitter account, an embarrassing leak for authorities that has raised concerns about the security of official records.
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EU member states agree roaming for Netflix
BRUSSELS (Reuters) - Consumers will be able to access their online subscriptions for services like Netflix , Sky and Canal+ when they travel across the European Union under proposals tentatively agreed by member states on Friday.
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Bangladesh Bank heist similar to Sony hack; second bank hit by malware
NEW YORK/DHAKA (Reuters) - Investigators probing the cyber heist of $81 million from the Bangladesh central bank connected it on Friday to the hack at Sony Corp's film studio in 2014, while global financial network SWIFT disclosed a previously unreported attack on a commercial bank.
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Exclusive: Bangladesh Bank remains compromised months after heist - forensics report
DHAKA (Reuters) - Three hacking groups "are still lurking" in the network of Bangladesh's central bank, putting the bank at risk of further attacks about three months after it lost $81 million in a cyber heist, according to a report by U.S. computer security firms investigating the theft.
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Bangladesh heist linked to attack on Sony: BAE researchers
NEW YORK (Reuters) - Malicious software used in February's $81 million heist at Bangladesh Bank is linked to other cyber attacks, including the high-profile 2014 attack on Sony's Hollywood studio, according to a new report from cyber security firm BAE Systems.
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Thursday, May 12, 2016
Trump says Amazon.com has 'a huge antitrust problem'
WASHINGTON (Reuters) - U.S. Republican presidential candidate Donald Trump said on Thursday that Amazon.com, the world's biggest online retailer, has "a huge antitrust problem."
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Apple invests $1 bln in Chinese ride-hailing service Didi Chuxing
(Reuters) - Apple Inc said on Thursday it has invested $1 billion in Chinese ride-hailing service Didi Chuxing, a move that Apple Chief Executive Tim Cook said would help the company better understand the critical Chinese market.
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Facebook releases employee guidelines amid accusations of political bias
(Reuters) - Facebook on Thursday emphasized that it does not permit its employees to block news stories from its "Trending Topics" list based on political bias, amid a controversy over how the social media superpower selects what news it displays.
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SWIFT says second bank hit by malware attack
(Reuters) - SWIFT, the global financial messaging network that banks use to transfer billions of dollars every day, warned on Thursday of a second case of a cyber attack similar to the one that resulted in the $81 million cyberheist in February at the Bangladesh central bank.
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Apple falls below $90 as iPhone worries fester
SAN FRANCISCO (Reuters) - Shares of Apple dropped below $90 on Thursday for the first time since 2014 as Wall Street worried about slow demand ahead of the anticipated launch of a new iPhone later this year.
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Device makers, telecoms face competing government demands on privacy
NEW YORK (Reuters) - For tech companies, there was a confounding juxtaposition in the news this week.
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SWIFT network wasn't hacked in $81 million Bangladesh heist : CEO
FRANKFURT (Reuters) - SWIFT's payment network was not hacked in the $81 million heist on the Bangladesh central bank earlier this year, SWIFT's chief executive said on Thursday, adding it was unlikely to be the last such attack on a bank.
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Kinnevik CEO says to review Rocket stake in two-three years: newspaper
STOCKHOLM (Reuters) - Kinnevik will review its stake in German ecommerce investor Rocket Internet in two or three years as the companies Rocket owns have developed further, the chief of the Swedish investment company was quoted as saying on Thursday.
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Wednesday, May 11, 2016
'Hyperloop' sled speeds through U.S. desert via electromagnets
NORTH LAS VEGAS, Nev. (Reuters) - A car-sized sled powered by electromagnets rocketed to more than 100 miles (160 kph) an hour through the Nevada desert on Wednesday in what the Los Angeles company developing the technology said was the first successful test of a futurist transit system called hyperloop.
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House blocks Google-hosted apps, Yahoo Mail over security fears
WASHINGTON (Reuters) - The U.S. House of Representatives' information technology team has blocked the congressional chamber from accessing software applications hosted on a Google cloud service in an attempt to prevent possible hacking campaigns against lawmakers and their staff, according to two congressional sources.
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U.S., China cyber group holds first talks since September pact
WASHINGTON (Reuters) - A group of senior U.S. and China cyber officials on Wednesday held its first meeting since the two countries struck an anti-hacking agreement in September to try to ease years of acrimony over the issue.
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FTC taking second look at Google search: Politico
(Reuters) - The U.S. Federal Trade Commission officials are asking questions again about whether Alphabet Inc's Google has abused its dominance in the Internet search market, Politico reported, citing sources familiar with the discussions.
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Google says 'no' to payday lender ads
(Reuters) - Google, a unit of Alphabet Inc , said it would ban advertisements for payday loans as these "deceptive or harmful financial products" take advantage of vulnerable customers.
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Russian watchdog again puts off decision on Google fine : RIA
MOSCOW (Reuters) - Russia's state competition watchdog has postponed a decision on a possible fine on Alphabet Inc's Google until May 31, RIA news agency reported on Wednesday.
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Uber says to suspend UberPOP service in Sweden
STOCKHOLM (Reuters) - Uber Technologies Inc, the company behind the popular ride-hailing service, was dealt its latest setback in Europe on Wednesday, saying it would suspend its UberPOP service in two cities in Sweden following court rulings deeming its drivers illegal.
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Senate committee questions Facebook over news selection
(Reuters) - A U.S. Senate committee launched an inquiry on Tuesday into how social media website Facebook selects its news stories after a report that company employees blocked news about conservative issues from its "trending" list.
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Peugeot, Dongfeng to develop electric cars
PARIS (Reuters) - PSA Peugeot Citroen and Dongfeng Motor said they signed an agreement on Wednesday to create a common platform to build electric cars for the Peugeot, Citroen, DS and Dongfeng brands from 2019.
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Tuesday, May 10, 2016
Uber to offer union representation to New York City drivers
NEW YORK (Reuters) - Uber [UBER.UL] will join with the International Association of Machinists to launch an independent guild to represent drivers of the ride-hailing service in New York City, company officials said on Tuesday.
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Google, Oracle compete for innovation label in Android retrial
SAN FRANCISCO (Reuters) - Oracle Corp and Google faced off on Tuesday in a $9 billion intellectual property retrial, with Oracle accusing Google of stealing programming to become the world’s leading smartphone player and Google saying it acted legally as a true innovator.
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Caught in the act: Thai university uncovers high-tech student cheats
BANGKOK (Reuters) - A university in Thailand has caught a group of students using smart watches and cameras concealed in glasses to cheat during entrance exams, forcing the cancellation of the tests for others.
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Japan Display warns of bigger year-on-year loss on slow iPhone sales
TOKYO (Reuters) - Apple Inc supplier Japan Display Inc warned on Tuesday of a bigger loss in the just-ended business year compared to the previous year as sluggish demand for iPhones dragged down sales of its display panels.
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Amazon takes aim at YouTube with new video service
(Reuters) - Amazon.com Inc launched a service on Tuesday that allows users to post videos and earn royalties from them, setting up the world's biggest online retailer to compete directly with Alphabet Inc's YouTube.
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SWIFT rejects Bangladeshi claims in cyber heist, police stand firm
(Reuters) - SWIFT has rejected allegations by officials in Bangladesh that technicians with the global messaging system made the nation's central bank more vulnerable to hacking before an $81 million cyber heist in February.
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Alibaba's Taobao steps up measures to fight fake luxury goods
HONG KONG (Reuters) - Alibaba Group Holding Ltd's online shopping platform Taobao is tightening controls on the sales of luxury goods, requiring sellers to show proof of authenticity, as it fights sales of fake items on one of China's top online platforms.
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Report claiming bias in Facebook 'trending' topics sparks social media outcry
(Reuters) - Facebook workers have often omitted conservative political stories from the website’s "trending" list, the technology news site Gizmodo said on Monday in a report that sparked widespread comment on social media.
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Monday, May 9, 2016
Nokia posts falling network sales, lifts cost-saving targets
HELSINKI (Reuters) - Nokia's net sales of telecoms equipment fell more than expected in the first quarter as the Finnish company warned on Tuesday that earnings in its mainstay business would decline this year due to slowing demand in China.
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U.S. investigates security of mobile devices
WASHINGTON (Reuters) - The Federal Communications Commission and Federal Trade Commission have asked mobile phone carriers and manufacturers to explain how they release security updates amid mounting concerns over security vulnerabilities, the U.S. agencies said on Monday.
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Groupon sues 'once-great' IBM over patent
(Reuters) - The online marketplace Groupon Inc has sued IBM Corp, accusing it of infringing a patent related to technology that helps businesses solicit customers based on the customers' locations at a given moment.
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Uber, Lyft halt Austin service after losing vote over fingerprint checks
AUSTIN, Texas (Reuters) - On-demand ride companies Uber and Lyft suspended their services in Austin, Texas, on Monday after a stinging loss in a weekend vote where they had spent heavily to repeal a city ordinance requiring them to conduct fingerprint background checks for their drivers.
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Spotify says growth has quickened since Apple Music's launch
STOCKHOLM (Reuters) - Music streaming service Spotify has seen a faster pace of growth since the launch in June last year of rival Apple Music , a top executive said on Monday.
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Anti-virus software guru McAfee named CEO of tiny MGT
(Reuters) - Anti-virus software pioneer John McAfee has been tapped as chief executive of tiny MGT Capital Investments Inc, an investor in fantasy sports and mobile games.
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Facebook beverages won't be a thing in China after rare trademark win
HONG KONG (Reuters) - Chinese people won't be able to quench their thirst with a refreshing "face book" beverage, after the U.S. social networking company won a rare trademark victory against a local firm in China.
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China curbs Baidu healthcare ads business after student's death
BEIJING (Reuters) - Chinese regulators have imposed limits on the number of lucrative healthcare adverts carried by Baidu Inc following the death of a student who underwent an experimental cancer treatment which he found using China's biggest Internet search engine.
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Saturday, May 7, 2016
Alberta flies drones to find cause of epic Canadian wildfire
LAC LA BICHE, Alberta (Reuters) - Fire-ravaged Alberta will use drones to investigate the cause of a huge blaze that has scorched the Canadian province and displaced some 88,000 people.
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Before massive Bangladesh heist, New York Fed feared such cyber attacks
(Reuters) - In the years before hackers stole $81 million from a Bangladesh central bank account at the Federal Reserve Bank of New York, senior Fed security officials examined the risk of such an attack - but judged the prospect unlikely, bank sources told Reuters.
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Friday, May 6, 2016
Fiat Chrysler CEO: Data ownership unclear in working with Google
WINDSOR, Ont. (Reuters) - Fiat Chrysler Automobiles Chief Executive Sergio Marchionne said Friday FCA and Alphabet Inc's Google have yet to determine who will own data collected in their collaboration on testing self-driving vehicles.
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Facebook loses first round in suit over storing biometric data
(Reuters) - Facebook Inc lost the first round in a court fight against some of its users who sued the social networking company, alleging it "unlawfully" collected and stored users' biometric data derived from their faces in photographs.
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Thursday, May 5, 2016
Exclusive: Coinbase, Ripple close to landing New York bitcoin licenses - source
NEW YORK (Reuters) - New York state's financial regulator is close to approving licenses for bitcoin companies Coinbase Inc and Ripple Labs Inc, which would allow them to offer digital currency services in the state, a person familiar with the matter said on Thursday.
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Little risk for Google in retrial vs Oracle over Android
SAN FRANCISCO (Reuters) - Even if a jury orders Alphabet Inc's Google to pay the full $8.8 billion sought by Oracle Corp in an upcoming San Francisco copyright trial over the Android operating system, shareholders and analysts say it will likely have little impact on the search giant's bottom line.
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Google, Honeywell agree to resolve Nest Labs patent dispute
(Reuters) - Alphabet Inc's Google and climate control systems maker Honeywell International Inc have reached an agreement to resolve patents disputes related to Alphabet's Nest Labs, a maker of Internet-connected thermostats.
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SAP teams up with Apple to bring SAP's HANA to iOS
(Reuters) - Apple Inc is taking another step into the corporate computing world by partnering with SAP to develop apps that run the German company's widely used business software on smartphones and tablets, the two companies said on Thursday.
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Alibaba's revenue soars, but new ventures hit profit
(Reuters) - Alibaba Group Holding Ltd, China's biggest e-commerce company, said fourth-quarter sales rose 39 percent after its core online shopping business grew, but profit fell for the first time as it spent on ventures like food delivery.
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Sumner Redstone's ex-girlfriend must sway judge on incompetence claim
SAN FRANCISCO/LOS ANGELES (Reuters) - Sumner Redstone's much-discussed mental status will be dissected in public during a trial set to start on Friday, as an ex-girlfriend tries to convince a Los Angeles judge that the 92-year-old media mogul is incompetent in the culmination of a salacious, months-long legal drama.
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Striking union workers protest at Verizon shareholder meeting
NEW YORK (Reuters) - Dozens of Verizon Communications Inc landline workers, on strike since mid-April after contract talks hit an impasse, marched on the company's annual shareholder meeting in Albuquerque, New Mexico, on Thursday and several people were arrested for blocking traffic, unions said.
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China regulator to launch campaign to clean up e-commerce, online ads
BEIJING (Reuters) - Chinese authorities will launch a campaign to clean up e-commerce - targeting trademark violations, counterfeit and poor quality products and the faking of transactions to boost a merchant's online rankings, the official People's Daily said.
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Canada' Telus to divest stake in unit
(Reuters) - Telus Corp , one of Canada's three big telecom providers, said it would sell a 35 percent stake in outsourcing service provider Telus International in a deal that values the unit at C$1.2 billion ($934.80 million).
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Facebook pays $10,000 to 10-year-old Instagram hacker
HELSINKI (Reuters) - Social media giant Facebook has paid a $10,000 reward to a 10-year-old Finnish boy for finding a glitch in its picture sharing app Instagram.
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Wednesday, May 4, 2016
U.S. tech firms urge presidential candidates to embrace trade, high-tech visas
WASHINGTON (Reuters) - Thirteen U.S. industry groups representing technology companies Amazon.com Inc , Uber Technologies Inc, Apple Inc , Facebook Inc and others are pushing for the next U.S. president to support the Trans-Pacific Partnership (TPP) trade deal and to make it easier to hire high-tech workers from abroad, according to a joint letter seen by Reuters.
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Brazil lawmakers propose bill to shield WhatsApp
BRASILIA (Reuters) - A Brazilian congressional commission on Wednesday recommended a bill that forbids authorities from blocking popular messaging applications, just two days after a judicial order left 100 million Brazilians without Facebook Inc's WhatsApp.
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India rejects Apple's plan to import used iPhones
MUMBAI (Reuters) - India has rejected a plan by Apple Inc to import used iPhones, government officials said on Wednesday, a blow to the U.S. tech giant that has been seeking to revive waning sales of its flagship smartphones.
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Amazon's business marketplace hits $1 billion in sales
CHICAGO (Reuters) - Amazon.com Inc's business marketplace, which connects businesses with suppliers, has generated $1 billion in sales in its first year, making it a significant player in a fragmented industry worth more than $8.2 trillion in the United States.
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Exclusive: Big data breaches found at major email services - expert
FRANKFURT (Reuters) - Hundreds of millions of hacked usernames and passwords for email accounts and other websites are being traded in Russia's criminal underworld, a security expert told Reuters.
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Apple loses China trademark case for 'iPhone' on leather goods
BEIJING (Reuters) - Apple Inc has lost a battle for the use of the "iPhone" trademark on leather goods in China after a Beijing court ruled against the world's biggest technology company in favor of a local firm, state media reported.
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Tuesday, May 3, 2016
Rich and powerful warn robots are coming for your jobs
LOS ANGELES (Reuters) - Some of the richest, smartest and most powerful humans have an important message for the rest of us as they convened this week to discuss pressing global issues: the robots are coming.
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Twitter makes following accounts easier with new Connect tab
NEW YORK (Reuters) - A new Connect tab on Twitter Inc's mobile app makes it easier for people to find accounts to follow, the social network said on Tuesday as it launched the new feature to attract more users.
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WhatsApp resumes in Brazil after suspension, legislators debate law
SAO PAULO/RIO DE JANEIRO (Reuters) - Facebook Inc's WhatsApp messaging service resumed in Brazil on Tuesday after an appeals court overturned a suspension and many of the application's 100 million users in the country voiced outrage.
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Vanguard Group says glitch fixed on app for Apple devices
BOSTON (Reuters) - Vanguard Group has fixed a software application after a glitch caused some clients to see inflated account balances on their Apple mobile devices, a spokeswoman said on Tuesday.
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Google to buy minivans for self-driving tests from Fiat Chrysler
(Reuters) - Alphabet Inc's Google unit has agreed to buy 100 plug-in hybrid minivans from Fiat Chrysler Automobiles NV to expand its self-driving vehicle testing program, the two companies said on Tuesday -- in the most advanced partnership to date between Silicon Valley and a carmaker.
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Yelp surges on Einhorn stake but some on social media are skeptical
NEW YORK (Reuters) - Shares of Yelp Inc shot to a three-month high on Tuesday morning after hedge fund manager David Einhorn unveiled a new stake, but seesawing social media sentiment among active traders signaled skepticism about the business review site's longer-term prospects and Einhorn's prowess as a stock picker.
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Twitter lawsuit partly dismissed over U.S. information requests
SAN FRANCISCO (Reuters) - A U.S. judge on Monday partly dismissed a lawsuit filed by Twitter Inc in which the social media company argued it should be allowed to publicly disclose more details about requests for information it receives from the U.S. government.
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Tencent venture poaches Google talent as Chinese tech firms pile into autos
BEIJING (Reuters) - An automaker launched last year by firms including tech giant Tencent Holdings Ltd has poached autonomous driving personnel from Google and Daimler AG, marking China's latest high-profile hires in the race to make self-driving cars.
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Canadian held for second day after social media criticism of Nepal government
KATHMANDU (Reuters) - A Canadian computer programmer who has been vocally critical of the government of Nepal on social media has been held for a second day of questioning, a Nepali official said on Tuesday.
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Monday, May 2, 2016
Banks, tech companies move on from bitcoin to blockchain
NEW YORK (Reuters) - As a debate raged across the internet Monday over whether the mysterious founder of the bitcoin digital currency had finally been identified, executives at a major bitcoin conference in New York had a simple message: we've moved on.
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Starboard's Smith says Yahoo board 'welcoming' since his arrival
LOS ANGELES (Reuters) - Yahoo Inc's management team and directors have been welcoming to Starboard Value LP Chief Executive Jeffrey Smith since he joined the company's board, he said on Monday.
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Amazon bolsters voice based-platform Alexa with investment in TrackR
(Reuters) - Amazon.com Inc is investing between $250,000 and $500,000 in Bluetooth technology company TrackR to extend the reach of its Alexa virtual assistant, according to a source familiar with the matter
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Australian tells BBC he created bitcoin, but some skeptical
SYDNEY/SINGAPORE (Reuters) - Australian tech entrepreneur Craig Wright told the BBC that he was the creator of controversial digital currency bitcoin, but some scepticism remained about the identity of a person who until now has gone by the name of Satoshi Nakamoto.
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Investors may have profited from leaked U.S. data: ECB research paper
FRANKFURT (Reuters) - Investors earned millions of dollars in profits from correctly betting on market moves ahead of sensitive U.S. economic data, suggesting leaks of key indicators, a European Central Bank research paper said on Monday.
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Warren Buffett says more likely to buy IBM shares than sell: CNBC
NEW YORK (Reuters) - Warren Buffett, chairman and chief executive of conglomerate Berkshire Hathaway, said Monday he would be more likely to buy than to sell IBM shares over the next two years, and that he did not seek to profit from global central bank actions.
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Oracle to buy utility software maker Opower
(Reuters) - Oracle Corp will buy Opower Inc , a maker of software for utilities, for about $548 million in cash.
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China probes search engine Baidu over student's death
BEIJING (Reuters) - China's Internet regulator said on Monday it will send an investigation team to Chinese search leader Baidu Inc over the death of a university student, who had used the search engine to look for treatment for his cancer.
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Rocket Internet removes Kinnevik from supervisory board
BERLIN (Reuters) - Rocket Internet said on Monday two supervisory board members from long-standing investor Kinnevik are stepping down after the Swedish fund hit shares in the German ecommerce firm by cutting its valuation for joint holdings.
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Facebook hit with lawsuit over plan to issue new stock
SAN FRANCISCO (Reuters) - A Facebook Inc shareholder filed a proposed class action lawsuit on Friday in a bid to stop the company's plan to issue new Class C stock, calling the move an unfair deal to entrench Chief Executive Mark Zuckerberg as controlling shareholder.
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