India's Infosys shares extend losses after CEO quit

MUMBAI (Reuters) - Shares of India's Infosys Ltd fell as much as 4.6 percent on Monday to a near three-year low, slumping for a second consecutive session, after brokerages including Nomura downgraded the stock following the resignation of its chief executive. Shares slumped 9.6 percent on Friday af...

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Japan launches satellite for advanced GPS operation

TOKYO (Reuters) - Japan on Saturday launched an H-2A rocket carrying a geo-positioning satellite into orbit after a week-long delay, the government said. The launch of Japan's third geo-positioning satellite is part of its plan to build a version of the U.S. global positioning system (GPS) to offer ...

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NuTonomy hopes for second-quarter 2018 launch of paid Singapore self-driving car rides

SAN FRANCISCO (Reuters) - U.S. self-driving car startup NuTonomy and southeast Asian ride services partner Grab hope to turn a test pilot in Singapore into a paid, commercial service as soon as the second quarter of next year, NuTonomy Chief Executive Karl Iagnemma said on Friday. Ride services comp...

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U.S. formally launches probe of China's intellectual property practices

WASHINGTON (Reuters) - The United States on Friday formally launched an investigation into China's alleged theft of U.S. intellectual property, a widely expected move following a call from President Donald Trump earlier this week to determine whether one was needed. “After consulting with stak...

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BlackBerry rally derailed as investors lose patience on turnaround

TORONTO (Reuters) - BlackBerry Ltd (BB.TO)(BBRY.O) shares have been plunging from their more than two-year high hit in June after lackluster earnings and competitive threats have raised doubts about prospects for a turnaround at the business software maker. At Friday's price of about $8.70, BlackBer...

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Nestle defends 'Kit Kat' campaign against Atari 'Breakout' lawsuit

(Reuters) - Nestle SA on Friday paddled back claims in a new lawsuit in which Atari SA accused the Swiss food company of pilfering its classic 1970s video game "Breakout" to help sell Kit Kat chocolate-covered wafer bars. Nestle damaged Atari's goodwill and reputation on Facebook, Twitter and televi...

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AT&T considers sale of home security business: sources

(Reuters) - AT&T Inc (T.N) is exploring options for its Digital Life home security business, including selling it, as it seeks to pay down debt following its planned $85.4 billion acquisition of Time Warner Inc (TWX.N), people familiar with the matter said. The divestiture would mark a reversal ...

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China Unicom's $12 billion ownership-reforms plan mired in confusion

HONG KONG (Reuters) - Telecoms group China Unicom's $11.7 billion ownership-reforms plan, billed as a model case for revitalizing Chinese state firms with private capital, remained under a cloud on Friday, with confusion about fundraising details persisting. The state-owned group had announced on We...

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Top fund investors pumped brakes on fast-rising Tesla: filings

BOSTON (Reuters) - Top Tesla Inc (TSLA.O) investors Fidelity Investments and T. Rowe Price cut their holdings in the second quarter and indicated they were taking profits from the electric car maker stock, which is up 65 percent this year. Sellers included Fidelity funds like Fidelity OTC Portfolio,...

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Ukraine central bank warns of new cyber-attack risk

KIEV (Reuters) - The Ukrainian central bank said on Friday it had warned state-owned and private lenders of the appearance of new malware as security services said Ukraine faced cyber attacks like those that knocked out global systems in June. The June 27 attack, dubbed NotPetya, took down many Ukra...

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China's Lenovo warns of cost challenges as it sinks to Q1 loss

HONG KONG (Reuters) - Chinese personal computer maker Lenovo Group Ltd warned of higher costs and margin pressure due to shortages of components like memory chips, as it posted its first quarterly loss in almost two years on Friday.

Former Uber CEO says investor lawsuit a 'public and personal attack'

SAN FRANCISCO (Reuters) - The ousted chief executive officer of Uber Technologies Inc called a lawsuit filed against him by one of the company's top investors a "public and personal attack" without merit, according to court documents filed late on Thursday. Venture capital firm Benchmark Capital, wh...

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Infosys CEO Vishal Sikka resigns; company names interim chief executive

(Reuters) - India's No. 2 IT Services company Infosys Ltd (INFY.NS) said Vishal Sikka had resigned as managing director and chief executive of the company with immediate effect, sending shares tumbling more than 7 percent in early trading on Friday. The move comes after a protracted war of words bet...

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U.S. digital rights group slams tech firms for barring neo-Nazis

SAN FRANCISCO (Reuters) - A digital rights group based in San Francisco on Thursday criticized several internet companies for removing neo-Nazi groups from servers and services, saying the actions threatened free expression online. GoDaddy Inc, Alphabet's Google, security firm Cloudflare and other t...

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Lenovo says more confident it can achieve mobile turnaround goal

HONG KONG (Reuters) - Chinese personal computer maker Lenovo Group Ltd is more confident it can achieve its turnaround goal for its mobile business in the second half of fiscal year 2018, Chairman and Chief Executive Yang Yuanqing told Reuters on Friday.

YouTube TV expands to 14 new markets, partners with Sinclair stations

(Reuters) - Alphabet Inc's (GOOGL.O) Google has expanded its YouTube TV streaming service into 14 new U.S. markets to reach half of American households, with an additional 17 markets to launch in the next few weeks, the company said on Thursday. YouTube is broadening access to live TV streaming as y...

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Facebook tests adding news stories customized to users' interests

SAN FRANCISCO (Reuters) - Facebook Inc is testing a feature in the Facebook News Feed that provides customized links to news on topics of interest to individual users, as the company continues to search for ways to increase the amount of time that people spend using the world's largest social media ...

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ThoughtSpot raises $60 million, ends funding round for artificial intelligence technology

SAN FRANCISCO (Reuters) - Silicon Valley technology company ThoughtSpot has completed a $120 million funding round to fuel the start-up's new artificial intelligence endeavor. ThoughtSpot, based in Palo Alto, California, said on Thursday it had raised $60 million from investors in a financing round ...

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U.S. e-sports platform to launch $100 million cryptocurrency sale in September

NEW YORK (Reuters) - Unikrn, a U.S. sports betting digital platform backed by some of the biggest names in media, entertainment and sports, will launch the sale of $100 million in cryptocurrency next month, the company's co-founder and chief executive officer, Rahul Sood, told Reuters in an intervie...

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U.S. appeals court rules for Uber in arbitration dispute

NEW YORK (Reuters) - A U.S. appeals court on Thursday ruled in favor of Uber Technologies Inc [UBER.UL] in a lawsuit over whether passengers gave up their right to sue the company when they registered for its taxi-hailing service, The 2nd U.S. Circuit Court of Appeals in New York vacated a lower cou...

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Pershing Square's Ackman says ADP needs to streamline

BOSTON/NEW YORK (Reuters) - Activist investor William Ackman laid out his case for changes at Automatic Data Processing Inc (ADP.O) on Thursday, saying the payroll processor needs to improve its profit margins and integrate its business lines. Ackman's hedge fund Pershing Square Capital Management d...

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Apple's Cook says he disagrees with Trump, vows donations to rights groups

(Reuters) - Apple Inc (AAPL.O) CEO Tim Cook has joined a chorus of business leaders who have voiced their opposition to President Donald Trump after he blamed white nationalists and anti-racism activists equally for violence in Virginia over the weekend. "I disagree with the president and others who...

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China's Alibaba outstrips revenue estimates with online sales growth

(Reuters) - Alibaba, China's top e-commerce firm, beat analyst's estimates with a 56 percent rise in first-quarter revenue, driven by growth in online sales which make up most of its business. Thursday's results show that Alibaba Group Holding Ltd (BABA.N), one of Asia's most valuable companies, is ...

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Wisconsin lawmakers debate billions in incentives for Foxconn plant

(Reuters) - The Wisconsin State Assembly on Thursday will consider a $3 billion incentive package for a proposed liquid-crystal display factory by Taiwan's Foxconn, the first vote on the deal by a chamber of the state's Republican-controlled legislature. Foxconn, an electronics manufacturer formally...

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Sixt CEO hints at car-sharing merger talks between BMW and Daimler

FRANKFURT (Reuters) - German carmakers Daimler and BMW may be in talks to combine their car-sharing services Car2Go and DriveNow, Sixt chief executive Erich Sixt, whose company owns part of DriveNow, hinted on Thursday. Slideshow (2 Images) Asked whether Sixt was involved in merger talks with Daimle...

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Ericsson could shed 25,000 jobs in cost-cutting drive: report

STOCKHOLM (Reuters) - Mobile telecom gear maker Ericsson may lay off around 25,000 employees outside Sweden as part of its savings program, Swedish daily Svenska Dagbladet reported on Thursday, citing unidentified sources at the company. Ericsson said in July it would accelerate measures to meet a t...

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China targets Alibaba's Taobao, other e-commerce sites, in VPN crackdown

BEIJING (Reuters) - Chinese authorities have issued a warning to the country's top e-commerce platforms, including Alibaba Holding Group Ltd's Taobao.com, over the sale of illegal virtual private networks that allow users to skirt state censorship controls. Five websites have been asked to carry out...

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Sonova plays catch up with Danish rivals on hearing-aid tech

ZURICH (Reuters) - Sonova on Thursday launched a new hearing aid that streams audio directly from wireless mobile devices as the Swiss company closes the gap to Danish competitors who pioneered similar technology. Sonova, the world's biggest hearing aid maker, was criticized for missing an opportuni...

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NAFTA talks must include discussion on fintech: Mexican negotiator

WASHINGTON (Reuters) - Talks to renegotiate the North American Free Trade Agreement (NAFTA) must include a discussion of new financial services, a Mexican negotiator said on Wednesday, singling out so-called fintech companies rapidly gaining ground in the region. Created 23 years ago, NAFTA includes...

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China's Tencent set to open 5.3 percent up after strong second-quarter

HONG KONG (Reuters) - Shares of China's Tencent Holdings are set to open 5.3 percent higher on Thursday after the world's largest gaming company reported a forecast-beating quarterly profit. The stock is set to open at record high at HK$340.40. That compared with a 0.7 percent rise in the benchmark ...

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