GlobalFoundries forecasts Q2 revenue, profit above estimates on chip market recovery
(Reuters) - GlobalFoundries forecast second-quarter revenue above Wall Street estimates on Tuesday, betting on improving demand for semiconductors after a years-long slump that was caused by surplus inventory at its customers. Shares of the contrac...
2h ago
'Livestream' shopping thwarts some high-tech tools to stop fake merch
By Arriana McLymore NEW YORK (Reuters) - Livestream shopping where buyers and sellers transact in real-time video is growing in the United States while technology to police counterfeit goods has so far not kept up, a situation that makes it easier ...
5h ago
Amazon launches online shopping service in South Africa
JOHANNESBURG (Reuters) - Amazon launched its online shopping service in South Africa on Tuesday, challenging a number of online retailers dominated by Naspers' Takealot.com. Africa's most advanced economy is usually seen as a good entry point for c...
6h ago
Online retailer Zalando returns to growth thanks to premium brands
By Linda Pasquini and Helen Reid (Reuters) -Online fashion marketplace Zalando returned to growth in the first quarter after three consecutive declines in gross merchandise volume, as bets on more premium brands and its business servicing other retaile...
7h ago
Nigeria sets dangerous precedent by detaining Binance execs, CEO says
By MacDonald Dzirutwe LAGOS (Reuters) - The CEO of cryptocurrency exchange Binance on Tuesday accused Nigeria of setting a dangerous precedent after its executives were invited to the African country and then detained as part of a crackdown on cryp...
7h ago
UK military personnel's data accessed in hack, BBC reports
(Reuters) - Some personal information in a payroll system used by Britain's defence department has been accessed in a data breach, the BBC reported on Monday. The system was managed by an external contractor and no operational Ministry of Defence d...
8h ago
Exclusive - Microsoft hit with Spanish startups' complaint about cloud practices
By Foo Yun Chee BRUSSELS (Reuters) - Microsoft was hit with a Spanish startup group's complaint about its cloud practices to the Spanish antitrust regulator on Tuesday, the latest grievance over its fast-growing cloud computing services and which f...
8h ago
Nintendo expects to sell 13.5 million Switch units this year
By Sam Nussey TOKYO (Reuters) - Nintendo said on Tuesday it expects to sell 13.5 million Switch consoles in the financial year ending March 2025. The Kyoto-based gaming company last year sold 15.7 million units of the hybrid home-portable device, w...
9h ago
Infineon lowers revenue outlook on difficult market environment
BERLIN (Reuters) - German chip manufacturer Infineon lowered its full-year outlook for revenue on Tuesday, citing a difficult market environment, particularly in the automotive sector. The company now expects revenue of 15.1 billion euros ($16.26 ...
9h ago
TeamViewer 'more than confident' in its 2024 forecast
(Reuters) - German software developer TeamViewer on Tuesday posted first-quarter revenues that were slightly below market expectations as customers signed fewer multi-year deals but reiterated its 2024 forecast. Revenue in the quarter rose 7% from ...
10h ago
Apple working on AI chips for data centers, WSJ reports
(Reuters) - Apple is developing its own chip to run artificial intelligence software in data centers, the Wall Street Journal reported on Monday, citing people familiar with the matter. Apple, which has been falling behind its competitors on AI, ha...
11h ago
Amazon to spend $9 billion to expand cloud infra in Singapore, Bloomberg News reports
(Reuters) - Amazon.com Inc. plans to spend $9 billion in expanding its cloud computing infrastructure in Singapore, Bloomberg News reported on Monday. (Reporting by Dagmarah Mackos; Editing by Rashmi Aich)
12h ago
SoftBank leads $1 billion funding for UK self-driving startup Wayve
By Nick Carey LONDON (Reuters) - British self-driving technology startup Wayve said on Tuesday it has raised $1.05 billion in a funding round led by SoftBank Group to accelerate the development and launch in production-model vehicles of its Embodie...
15h ago
Palantir raises 2024 forecast on robust AI demand
By Arsheeya Bajwa (Reuters) - Data analytics firm Palantir Technologies raised its annual revenue and profit forecast and beat first-quarter sales estimates on Monday, riding on strong demand for its services that help businesses deploy artificial...
17h ago
Axon raises full-year revenue forecast on strong demand for its software products
(Reuters) - Axon Enterprise raised its full-year core profit and revenue forecast Monday, banking on strong demand for its software products and recently launched TASER 10 policing device. The company now expects full-year 2024 revenue to be betwee...
17h ago
Lucid forecasts higher capital spend, sticks to production forecast; shares fall
(Reuters) -Lucid Group forecast higher capital expenditure this year and reiterated an annual production forecast below Wall Street targets on Monday, sending its shares down about 7% in extended trading. The company said it expects capital expenditur...
19h ago
Video streaming services see downloads, active users drop in April, BofA report shows
(Reuters) - Video streaming services saw a drop in downloads and active users during April, a research note by Bank of America showed on Monday, citing data from Sensor Tower, likely pressured by heated competition in the segment and an uncertain e...
22h ago
Microsoft readies new AI model to compete with Google, OpenAI, The Information reports
(Reuters) - Microsoft is training a new, in-house AI language model large enough to compete with those from Alphabet's Google and OpenAI, the Information reported on Monday. The new model, internally referred to as MAI-1, is being overseen by recen...
May 06, 2024
Synopsys to sell software unit to Clearlake, Francisco in $2.1 billion deal
(Reuters) -Synopsys will sell its software integrity (SIG) unit to a private equity consortium led by Clearlake Capital and Francisco Partners in a deal valued at $2.1 billion, the chip designer said on Monday. Reuters reported last week that the priva...
May 06, 2024
Robinhood Crypto gets Wells notice from US SEC
(Reuters) - Retail trading platform Robinhood Markets said on Monday its cryptocurrency trading arm received a Wells notice from the U.S. Securities and Exchange Commission (SEC) on May 4. Robinhood's shares fell 2.5% before the bell. A Wells notic...
May 06, 2024
Trump Media dismisses auditor BF Borgers amid SEC fraud charges
(Reuters) - Former U.S. President Donald Trump's media and technology company said it had replaced its auditor, BF Borgers, after the U.S. Securities and Exchange Commission (SEC) charged the accounting firm with "massive fraud" on Friday. Trump Me...
May 06, 2024
Grayscale Bitcoin Trust's shares jump after first inflow since January
(Reuters) - Shares of Grayscale Bitcoin Trust jumped 5% in premarket trading on Monday after the exchange-traded fund (ETF) that tracks the price of bitcoin saw its first day of inflow since January. The move marks a major milestone for GBTC, which...
May 06, 2024
SAP extends CEO Klein's contract until 2028
BERLIN (Reuters) - SAP has prolonged CEO Christian Klein's contract for a further three years, extending it to the end of 2028, the German software company announced on Monday. In addition, Klein was named chairman of the executive board after prev...
May 06, 2024
Olympics-Paris 2024 gearing up to face unprecedented cybersecurity threat
By Julien Pretot PARIS (Reuters) - Paris 2024 is getting ready to face an unprecedented challenge in terms of cybersecurity, with organisers expecting a huge pressure on the Games this summer. Organised crime, activists and states will be the main ...
May 06, 2024
Ailing French IT firm Atos says it received four restructuring offers
PARIS (Reuters) -Debt-laden French IT company Atos on Monday confirmed it had received four distinct offers from investors to restructure its debt and inject cash into the business, adding it would decide which one to pursue by the end of the month. Th...
May 06, 2024