TikTok general counsel to move to new role focused on fighting US sale
By David Shepardson WASHINGTON (Reuters) -Erich Andersen, general counsel for TikTok and Chinese parent company ByteDance, will step down from that role in June to focus on fighting efforts to force a sale of the video app in the U.S., the company said...
Apr 26, 2024
Apollo, KKR and Stonepeak may fund Intel's Ireland facility, Bloomberg reports
(Reuters) -Apollo Global Management, KKR & Co and Stonepeak may invest billions in a joint venture to help fund Intel's semiconductor fabrication facility in Ireland, Bloomberg News reported on Friday. The chipmaker, Apollo, KKR and Stonepeak did not i...
Apr 26, 2024
US Homeland Security names AI safety, security advisory board
By David Shepardson WASHINGTON (Reuters) - The U.S. Homeland Security Department (DHS) on Friday announced a blue-ribbon board that includes the CEOs of OpenAI, Microsoft, Google parent Alphabet and Nvidia that will advise the government on the rol...
Apr 26, 2024
Google files motion for summary judgment in U.S. ad tech case
WASHINGTON (Reuters) - Alphabet Inc's Google on Friday asked a federal court in Virginia to reject a U.S. government lawsuit accusing the advertising and search company of anticompetitive practices in the online advertising marketplace. (Reporting...
Apr 26, 2024
Televisa to merge Sky, cable 'as soon as possible'
MEXICO CITY (Reuters) - Mexican broadcaster Televisa plans to merge its satellite TV unit Sky with its cable TV and internet service Izzi as soon as possible, the head of the new unit, Francisco Valim, said on Friday. Televisa is aiming to trim its...
Apr 26, 2024
EU's Vestager meets French tech firm Mistral AI amid competition concerns
By Sudip Kar-Gupta BRUSSELS (Reuters) - European Union antitrust chief Margrethe Vestager, who has been looking into Big Tech's partnerships with AI start-ups, met on Friday fast-growing French start-up company Mistral AI and said the sector needs ...
Apr 26, 2024
Pope will attend G7 summit to discuss AI, Italy says
ROME (Reuters) -Pope Francis will attend this year's Group of Seven (G7) leaders' summit to discuss the challenges posed by Artificial Intelligence (AI), Italian Prime Minister Giorgia Meloni said on Friday. The meeting is being held in the southern It...
Apr 26, 2024
Renault talks to China's Li Auto and Xiaomi on tech collaboration
PARIS (Reuters) - Renault held talks this week with China's Li Auto and Xiaomi on electric and intelligent vehicle technologies, the French carmaker said on Friday, opening the door to potential collaboration on technology with the two companies. K...
Apr 26, 2024
India's HCLTech misses Q4 revenue estimates on weak services vertical
BENGALURU (Reuters) -HCLTech, India's No.3 IT services player, reported a smaller-than-expected fourth-quarter revenue on Friday amid decelerating tech spending among clients due to macro-overhang. The company posted a 7.1% rise in revenue to 284.99 bi...
Apr 26, 2024
China's Shein set to face tougher EU online rules
BRUSSELS (Reuters) - The European Union designated Chinese-founded fast-fashion company Shein as a very large online platform (VLOP) after it reported a huge number of users, the EU said in a statement on Friday. Companies with more than 45 million...
Apr 26, 2024
Intel falls as weak PC chip demand hurts second-quarter forecast
(Reuters) - Intel shares slumped more than 7% premarket on Friday after a downbeat second-quarter sales forecast signaled that the boom in AI technology was diverting enterprise spending away from its traditional data center and PC chips. The stock...
Apr 26, 2024
Russia's Yandex reports Q1 revenue rise as market awaits spin-off news
MOSCOW (Reuters) - Russian internet giant Yandex reported a 40% rise in first-quarter revenue to 228.3 billion roubles ($2.47 billion), driven by growth in e-commerce and ride-hailing, with the market awaiting news on a much anticipated corporate s...
Apr 26, 2024
Huawei's smart car tech offers automakers route to China sales
BEIJING (Reuters) - It's taken Huawei just four years to become a force in smart car technology, navigating the devastation of trade sanctions on its smartphones business while simultaneously developing a driver assistance system that is the darlin...
Apr 26, 2024
Thoma Bravo to buy UK's Darktrace for about $5.32 billion
By Paul Sandle LONDON (Reuters) -Private equity firm Thoma Bravo agreed to buy Britain's Darktrace for about $5.32 billion in cash on Friday, saying it would use its software expertise to drive growth at the Mike Lynch-backed cybersecurity specialist. ...
Apr 26, 2024
Alphabet, Microsoft shares jump as investors cheer AI investment
LONDON (Reuters) - Microsoft and Google showed investors that heavy artificial intelligence investment can pay off with rising revenue, allaying concerns raised a day earlier by Meta, which said its expensive foray into AI was not immediately payin...
Apr 26, 2024
Explainer-What is so special about TikTok's technology
By Josh Ye HONG KONG (Reuters) - The content recommendation algorithm that powers the online short video platform TikTok has once again come under the spotlight after the U.S. ordered its Chinese owner, ByteDance, to sell the app's U.S. assets or f...
Apr 26, 2024
Indian IT firm Tech Mahindra's shares jump most in 8 years on turnaround plan
BENGALURU (Reuters) - Tech Mahindra shares jumped 13.2% on Friday, their biggest intraday gain in nearly eight years, after India's No.5 IT company announced a turnaround plan that offered succour following declining revenue growth for the past thr...
Apr 26, 2024
Snap shares jump nearly 30% after Q1 beat
(Reuters) - Shares in Snap soared nearly 30% in thin volume in Frankfurt on Friday after the owner of the photo messaging app beat Wall Street expectations for quarterly revenue and user growth. Snap shares jumped 29% in early trading on the German...
Apr 26, 2024
Analysis-Tesla's plan for affordable cars takes page from Detroit rivals
By Abhirup Roy, Norihiko Shirouzu and Hyunjoo Jin SAN FRANCISCO/AUSTIN, Texas (Reuters) - Elon Musk's new plan to use current product lines as the basis for new affordable vehicles - rather than springing for all-new models - follows the playbook o...
Apr 26, 2024
KLA Corp projects quarterly revenue above estimates as AI fuels chip demand
(Reuters) - KLA Corp forecast fourth-quarter revenue above analysts' expectations on Thursday, anticipating strong demand for its chip-making tools from semiconductor makers looking to tap into a surge in demand for use in AI applications. Shares o...
Apr 25, 2024
Juniper misses revenue estimates on weak networking gear demand
(Reuters) - Juniper Networks missed Wall Street estimates for first-quarter revenue on Thursday, hit by sluggish demand for the networking gear maker's products in an uncertain economy. Weak demand from inflation-hit wireless carriers and cable ope...
Apr 25, 2024
Western Digital tops profit expectations on demand from cloud-computing customers
(Reuters) - Western Digital surpassed expectations for quarterly revenue and profit on Thursday, riding on a surge in demand for its data storage products from cloud service providers. The results are the latest sign that demand for memory chips is...
Apr 25, 2024
Verisign's Q1 revenue rises on demand for internet services
(Reuters) - Internet services firm VeriSign reported a 5.5% rise in its first-quarter revenue on Thursday, helped by steady demand for domain name registrations as businesses beef up their online presence. More and more enterprises are nowadays cho...
Apr 25, 2024
Microsoft beats quarterly revenue estimates
By Yuvraj Malik, Anna Tong and Stephen Nellis (Reuters) -Microsoft beat Wall Street estimates for third-quarter revenue on Thursday, driven by gains from AI adoption across its cloud services and business software products. Revenue rose 17% to $61.9 bi...
Apr 25, 2024
Intel forecasts second-quarter revenue below estimates
(Reuters) - Intel forecast second-quarter revenue below market estimates on Thursday, as it faces weak demand for its traditional data center and personal computer chips amid efforts to build its contract manufacturing business. The Santa Clara, Ca...
Apr 25, 2024