Technology

Technology

Contrite Facebook executives seek to ward off more European rules

MUNICH (Reuters) – Facebook (FB.O) executives are fanning out across Europe this week to address the social media giant’s slow response to abuses on its platform, seeking to avoid further legislation along the lines of a new hate speech law in Germany it says goes too far. Facebook’s communications and public policy chief used an […]

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Amazon’s automated grocery store of the future opens Monday

SEATTLE (Reuters) – Amazon.com Inc (AMZN.O) will open its checkout-free grocery store to the public on Monday after more than a year of testing, the company said, moving forward on an experiment that could dramatically alter brick-and-mortar retail. The Seattle store, known as Amazon Go, relies on cameras and sensors to track what shoppers remove […]

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Vista Equity explores options for PowerSchool, PeopleAdmin: sources

(Reuters) – Private equity firm Vista Equity Partners Management LLC is exploring options for two software companies it owns, PowerSchool and PeopleAdmin, that could involve combining them in a deal worth between $2 billion to $3 billion, according to people familiar with the matter. Any deal would come as schools use more digital tools to […]

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Facebook to prioritize ‘trustworthy’ news based on surveys

SAN FRANCISCO (Reuters) – Facebook Inc will prioritize “trustworthy” news in its feed of social media posts, using member surveys to identify high-quality outlets and fight sensationalism and misinformation, Chief Executive Mark Zuckerberg said on Friday. The company, which has more than 2 billion monthly users, said its members, not experts or Facebook executives, would […]

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Twitter to notify users exposed to Russian propaganda during U.S. elections

(Reuters) – Twitter Inc, which is reviewing Russian interference during the 2016 U.S. elections, said on Friday it would notify some of its users whether they were exposed to content generated by a suspected Russian propaganda service. The company said it would be emailing notifications to 677,775 people in the United States who followed, retweeted […]

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Judge overseeing AT&T, Time Warner merger trial hears document dispute

WASHINGTON (Reuters) – AT&T (T.N), owner of DirecTV, is asking for documents from a long list of companies as part of preparation for a trial to determine if they will be allowed to buy movie and TV show maker Time Warner (TWX.N), their lawyer Daniel Petrocelli said in a pre-trial hearing on Friday. The Justice […]

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Canada’s Hydro Quebec unable to meet demand from digital currency miners

MONTREAL (Reuters) – Canada’s largest utility, Hydro Quebec, is reviewing its commercial energy strategy after being inundated with demand from global digital currency miners rushing to the province to benefit from political stability and low energy prices. Hydro Quebec will not have the long-term capacity to meet all the anticipated demand, a company spokesman said, […]

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FTC makes second request on Broadcom’s bid for Qualcomm

(Reuters) – The U.S. Federal Trade Commission has made a second request for information on chipmaker Broadcom Ltd’s (AVGO.O) $103 billion hostile bid for Qualcomm Inc (QCOM.O), Broadcom said in a statement on Friday, a move that could indicate heightened antitrust scrutiny. The FTC review is part of a process under the Hart-Scott-Rodino Act to […]

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Ex-IBM employee from China gets five years prison for stealing code

NEW YORK (Reuters) – A former software engineer for IBM in China was sentenced to five years in prison after he pleaded guilty to stealing proprietary source code from the company, prosecutors announced on Friday. Jiaqiang Xu, 32, was sentenced on Thursday by U.S. District Judge Kenneth Karas in White Plains, New York, according to […]

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Trump signs bill renewing NSA’s internet surveillance program

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said he had signed into law a bill renewing the National Security Agency’s warrantless internet surveillance program. “Just signed 702 Bill to reauthorize foreign intelligence collection,” Trump wrote on Twitter, referring to legislation passed by the U.S. Congress that extends Section 702 of the Foreign Intelligence […]

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FTC set to make second request on Broadcom’s bid for Qualcomm: sources

(Reuters) – The U.S. Federal Trade Commission is set to make a second request for information on chipmaker Broadcom Ltd’s $103 billion hostile bid for Qualcomm Inc, people familiar with the matter said on Friday, indicating heightened antitrust scrutiny. The FTC review is part of a process under the Hart-Scott-Rodino Act to scrutinize potentially anti-competitive […]

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Amazon boosts monthly fee for Prime by $2, maintains yearly rate

(Reuters) – Amazon.com Inc (AMZN.O) raised the monthly fee for the U.S. version of its fast-shipping and video-streaming service Amazon Prime by $2 on Friday, making the case for subscribers to upgrade to an annual plan. It was the first increase of Prime fees in almost four years and comes at the end of another […]

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IBM shares fall on soft profit outlook

(Reuters) – Shares in International Business Machines fell 2.6 percent on Friday as analysts judged a “disappointing” full-year profit forecast showed that the company would take more time to get back on a path of steady growth. IBM’s results call after U.S. markets closed on Thursday forecast an operating profit of at least $13.80 per […]

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Amazon raises monthly fee for Prime service by 18 percent

(Reuters) – Amazon.com Inc (AMZN.O) on Friday raised the monthly fee for Amazon Prime, its fast-shipping and video-streaming service, to $12.99 from $10.99, while maintaining the annual fee. The company also hiked the monthly subscription fee for Amazon Prime Student members, its service targeting college students, to $6.49 from $5.49. Existing monthly Prime and Prime […]

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U.S. CFTC sues three virtual currency operators for fraud

WASHINGTON (Reuters) – The U.S. derivatives watchdog said on Friday that it has filed charges against three separate virtual currency operators alleging the defendants had defrauded customers and broken other commodity trading rules, in a further sign regulators globally are cracking down on the emerging asset class. The lawsuits, filed by the Commodity Futures Trading […]

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Elliott says chipmaker NXP worth more than $135 per share

(Reuters) – Elliott Management Corp said on Friday NXP Semiconductors NV is worth much more than its previous assessment of $135 per share and Qualcomm Inc’s $110 offer to buy the chipmaker. “The current $110 offer is not even in the right zipcode and a credible offer from Qualcomm requires a price in excess of […]

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Xiaomi to expand store network in Indian tussle with Samsung

MUMBAI (Reuters) – China’s Xiaomi plans to expand its Indian store network as it attempts to grab the lead in a smartphone market which Korea’s Samsung has dominated for more than five years. A little over three years after Xiaomi entered India, its cheap, high-spec handsets have helped the start-up, which is now valued at […]

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China targets cryptocurrencies in online pyramid scheme crackdown

(Reuters) – China will crack down on online pyramid schemes, including speculation masked as cryptocurrencies and online games, the public security ministry said on Friday. The ministry will act jointly with the industrial and commercial department to stamp out pyramid-type schemes, besides punishing those who swindle students and vulnerable groups, the ministry said in a […]

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Huawei founder, top executives to pay $469,000 fine for management oversight

HONG KONG (Reuters) – Top executives of Huawei Technologies Co [HWT.UL], including founder Ren Zhengfei, will pay a self-imposed fine totaling 3 million yuan ($469,000) for management oversight of some quality breaches at the firm, an internal company memo shows. In a notice sent to Huawei staff on Jan. 17, Ren said there had been […]

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Nokia signs its first official 5G equipment deal with NTT DoCoMo

FRANKFURT (Reuters) – Finland’s Nokia said on Friday it signed its first major deal to supply new 5G wireless radio base stations to Japanese telecom operator NTT DoCoMo, which boasts nearly half of the country’s mobile subscribers. The contract marks Nokia’s first sizeable deal for its flagship mobile base station equipment based on official global […]