Reddit predicts surprise core profit in second quarter, shares surge
(Reuters) -Reddit predicted that it could post an adjusted core profit in the second quarter on the back of strong user growth and an uptick in the advertising market, sending its shares up more than 16% in extended trading on Tuesday. The forecast con...
2h ago
Exclusive-Software company BigCommerce explores sale, sources say
By Milana Vinn (Reuters) - BigCommerce, the e-commerce software maker that used to be backed by SoftBank Group, is exploring a sale after attracting takeover interest, people familiar with the matter said on Tuesday. BigCommerce has become an acqui...
3h ago
US revokes some export licenses for China's Huawei
WASHINGTON (Reuters) -The U.S. on Tuesday said it revoked some licenses that allow companies to ship goods, such as chips, to the sanctioned Chinese mobile phone and laptop maker Huawei Technologies. The move comes after the release last month of Huawe...
3h ago
Microsoft's Xbox shuts multiple studios, consolidates teams in cost-cutting move
(Reuters) - Microsoft's Xbox is shutting down a number of gaming studios including Arkane Austin, making it the latest publisher to shut down studios amid signs of a gaming slowdown. Studios such as "Hi-Fi Rush" maker Tango Gameworks, headquartered...
5h ago
Motional puts robotaxi deployment on back burner, to focus on technology development
(Reuters) - Self-driving technology company Motional said on Tuesday it would focus on developing its core technology and delay commercial robotaxi deployments, while it lays off staff as part of its restructuring process. The development comes ahe...
6h ago
TikTok, ByteDance sue to block US law seeking sale or ban of app
By David Shepardson WASHINGTON (Reuters) -TikTok and its Chinese parent company ByteDance sued in U.S. federal court on Tuesday seeking to block a law signed by President Joe Biden that would force the divestiture of the short video app used by 170 mil...
6h ago
AI lacks judgement to set interest rates, Singapore central bank head says
LONDON (Reuters) - Artificial intelligence lacks the human judgement skills needed to set interest rates, the head of the Monetary Authority of Singapore said on Monday. But AI could make it easier for criminals to launch cyber attacks, said Chia D...
7h ago
Cyber startup Wiz raises $1 billion in private funds, valued at $12 billion
JERUSALEM (Reuters) - U.S.-Israeli cloud cyber security startup Wiz said on Tuesday it raised $1 billion in a private funding round that values the four-year old company at $12 billion. Wiz, which has raised $1.9 billion since its founding in 2020,...
8h ago
UK and allies sanction Russian leader of LockBit cybercrime gang
LONDON (Reuters) - Britain, the U.S. and Australia have sanctioned a senior Russian leader of the cybercrime gang LockBit, the British government said on Tuesday. Dmitry Khoroshev will face asset freezes and travel bans after being identified as on...
9h ago
Apple expected to show new iPads and possibly a new chip
By Stephen Nellis (Reuters) - Apple plans to hold a virtual event on Tuesday where it is expected to show new iPad models, some of which could come with a new chip aimed at speeding up artificial intelligence tasks carried out on the devices. Its l...
9h ago
OpenAI to launch tool to detect images created by DALL-E 3
(Reuters) - OpenAI is launching a tool that can detect images created by its text-to-image generator DALL-E 3, the Microsoft-backed startup said on Tuesday amid rising worries about the influence of AI-generated content in this year's global electi...
10h ago
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...
10h 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 ...
13h 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...
14h 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...
15h 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...
15h 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...
16h 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...
16h 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...
16h 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 ...
17h 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 ...
17h 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...
19h 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)
20h 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...
23h 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...
May 06, 2024