Cinven to explore $3 billion sale of software maker Jaggaer, sources say
By Milana Vinn NEW YORK (Reuters) - Private equity firm Cinven is preparing to explore a sale of Jaggaer that it hopes will value the maker of supply chain software at about $3 billion, including debt, according to people familiar with the matter. ...
May 13, 2024
Intel nears deal with Apollo for $11 billion Ireland partnership, WSJ reports
(Reuters) - Intel is in advanced talks for a transaction in which Apollo Global Management would supply more than $11 billion to help build a chip plant in Ireland, the Wall Street Journal reported on Monday. (Reporting by Zaheer Kachwala in Benga...
May 13, 2024
EU says Booking must comply with strict tech rules, investigates X
PARIS (Reuters) - The European Commission on Monday said it had designated Booking as a so-called "gatekeeper" under the Digital Markets Act (DMA) while it also opened a market investigation into social media network X to further determine the plat...
May 13, 2024
Tencent Music beats quarterly revenue estimates
(Reuters) - China's Tencent Music Entertainment Group beat first-quarter revenue estimates on Monday, thanks to steady growth in paid subscriptions and advertising services on its Spotify-like music streaming platform. The audio entertainment platf...
May 13, 2024
US, China meet in Geneva to discuss AI risks
By Michael Martina and Trevor Hunnicutt WASHINGTON (Reuters) - The U.S. and China will meet in Geneva to discuss advanced artificial intelligence on Tuesday, U.S. officials said, stressing that Washington's policies would not be up for negotiation ...
May 13, 2024
South Korea signs agreement with AliExpress, Temu on product safety
SEOUL (Reuters) -South Korea's government signed an agreement on Monday with Alibaba's AliExpress and PDD Holdings' Temu to promote product safety, the Korea Fair Trade Commission (KFTC) said. The agreement comes after heightened regulatory scrutiny of...
May 13, 2024
SoftBank swings to Q4 profit of $2.1 billion
TOKYO (Reuters) - Japanese technology giant SoftBank Group swung to a quarterly profit on Monday, reporting a net profit of 328.9 billion yen ($2.11 billion) for the January-March period. The Vision Fund investment unit booked an investment loss of...
May 13, 2024
Amazon to invest $1.3 billion in France, create 3,000 jobs
By Supantha Mukherjee STOCKHOLM (Reuters) - Amazon said on Monday it would invest more than 1.2 billion euros ($1.3 billion) in its French operations and create more than 3,000 permanent jobs in the country. The French presidency had said on Sunday...
May 13, 2024
Australian court lifts order blocking X on church stabbing video
SYDNEY (Reuters) - An Australian court on Monday rejected a bid by the country's cyber safety regulator to extend a temporary order for Elon Musk-owned X to block videos of the stabbing of an Assyrian church bishop, which authorities had called a t...
May 13, 2024
Aussie software firm Iress flags data breach at third-party platform
(Reuters) - Australia's Iress Ltd over the weekend detected and contained an unauthorized access of the firm's space on a third-party platform which is used to manage its pre-production software code, the financial software firm said on Monday. Ire...
May 13, 2024
South Korea prepares support package worth over $7 billion for chip industry
SEOUL (Reuters) - South Korea is readying plans for a support package for chip investments and research worth more than 10 trillion won ($7.30 billion), the finance minister said on Sunday, after setting its sights on winning a "war" in the semicon...
May 12, 2024
Apple's New Jersey store workers vote against unionizing, Bloomberg reports
(Reuters) - Workers at Apple's store in Short Hills, New Jersey, have voted against unionizing, Bloomberg News reported on Saturday. (Reporting by Gnaneshwar Rajan in Bengaluru; Editing by William Mallard)
May 12, 2024
Arm Holdings plans to launch AI chips in 2025, Nikkei reports
(Reuters) - SoftBank Group's Arm Holdings plans to develop artificial-intelligence chips, seeking to launch the first products in 2025, Nikkei Asia reported on Sunday. UK-based Arm will set up an AI chip division and aim to build a prototype by spr...
May 11, 2024
Musk's X Corp loses lawsuit against Israeli data-scraping company
By Jonathan Stempel (Reuters) - A U.S. judge dismissed a lawsuit in which Elon Musk's X Corp accused an Israeli data-scraping company of illegally copying and selling content, and selling tools that let others copy and sell content, from the social...
May 10, 2024
Elon Musk says Tesla will spend $500 million to expand charging network
(Reuters) - Tesla will spend more than $500 million to expand its fast-charging network, CEO Elon Musk said on Friday, days after abruptly laying off employees who were running the business. "That's just on new sites and expansions, not counting op...
May 10, 2024
US bill to restrict WuXi AppTec, Chinese biotechs revised to give more time to cut ties
By Karen Freifeld (Reuters) -A new version of a bill that would restrict U.S. business with certain Chinese biotechnology companies including WuXi AppTec and BGI would give U.S. companies until 2032 to end work with the firms, extending the amount of t...
May 10, 2024
Binance registers with India's financial watchdog as it seeks to resume operations
By Jaspreet Kalra MUMBAI (Reuters) - Binance, the world's largest cryptocurrency exchange, has registered with India's Financial Intelligence Unit (FIU), a senior FIU official said on Friday, as the exchange seeks to resume operations in the countr...
May 10, 2024
FBI working towards nabbing Scattered Spider hackers, official says
By Zeba Siddiqui SAN FRANCISCO (Reuters) - The U.S. FBI is working towards charging hackers from the aggressive Scattered Spider criminal gang who are largely based in the U.S. and western countries and have breached dozens of American organisation...
May 10, 2024
China's Zeekr set to debut on NYSE after upsized IPO
(Reuters) - Shares of China's Zeekr Intelligent Technology were scheduled to start trading on the New York Stock Exchange on Friday after the electric-vehicle maker priced its initial public offering at the top end of its marketed range. The debut ...
May 10, 2024
Crypto group with 440,000 members launches PAC to target House, Senate elections
By Stephanie Kelly NEW YORK (Reuters) - A cryptocurrency nonprofit has launched a new political action committee (PAC) to raise money from its 440,000 members for crypto-friendly politicians, and is endorsing a bipartisan slate of candidates runnin...
May 10, 2024
Foxconn's Q1 profit to jump from low base, AI to power growth
TAIPEI (Reuters) - Taiwan's Foxconn, the world's largest contract electronics maker, is expected to report on Tuesday that first-quarter profit more than doubled on robust demand for artificial intelligence servers and after coming off a low base a...
May 10, 2024
Australian regulator says Musk's X should not set limits of internet law
By Byron Kaye SYDNEY (Reuters) - Elon Musk's X has policies to take down harmful content when it chooses but should not be allowed to overrule Australian law in deciding what can be viewed there, a lawyer for the cyber regulator told a hearing into...
May 10, 2024
Apple apologizes for iPad Pro 'Crush' ad, Ad Age says
(Reuters) - Apple apologized on Thursday after an advertisement for its latest iPad Pro model sparked criticism by showing an animation of musical instruments and other symbols of creativity being crushed, Ad Age magazine reported. "Our goal is to ...
May 10, 2024
US lawmakers unveil bill to make it easier to restrict exports of AI models
WASHINGTON (Reuters) - A bipartisan group of lawmakers unveiled a bill late Wednesday that would make it easier for the Biden administration to impose export controls on AI models, in a bid to safeguard the prized U.S. technology against foreign ba...
May 10, 2024
US set to impose tariffs on China EVs and other strategic sectors, Bloomberg reports
(Reuters) -The Biden administration is set to announce new China tariffs next week that target strategic sectors including electric vehicles, batteries and solar equipment, Bloomberg News reported on Thursday. The full announcement, scheduled for Tues...
May 10, 2024