AT&T CEO to become executive chair after Time Warner deal: Bloomberg

(Reuters) - AT&T Inc (T.N) is planning a redefined role for Chief Executive Randall Stephenson amid major organizational changes following its $85.4 billion acquisition of Time Warner Inc (TWX.N), Bloomberg reported. Stephenson will become executive chairman, overseeing a pair of chief executive...

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U.S. government crackdown threatens Kaspersky’s American dream

(Reuters) - Eugene Kaspersky, the CEO of the Russian cybersecurity software firm that bears his name, had a big American dream. He wanted his company to go beyond selling anti-virus software to consumers and small businesses and become a major vendor to the U.S. government - one of the world's bigge...

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Australia to compel technology firms to provide access to encrypted missives

SYDNEY (Reuters) - Australia on Friday proposed new laws to compel companies such as U.S. social media giant Facebook (FB.O) and device manufacturer Apple (AAPL.O) to provide security agencies access to encrypted messages. The measures will be the first in an expected wave of global legislation as p...

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High-speed Hyperloop project ready for key test in Nevada

(Reuters) - Engineers will soon conduct a crucial test of a futuristic technology championed by entrepreneur Elon Musk that seeks to revolutionize transportation by sending passengers and cargo packed into pods through an intercity system of vacuum tubes. Hyperloop One, the Los-Angeles-based company...

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U.S. attorney general urged to consider blocking AT&T deal for Time Warner

WASHINGTON (Reuters) - Seven consumer advocacy groups wrote to Attorney General Jeff Sessions on Thursday to ask him to consider blocking AT&T's plan to buy Time Warner on the grounds that it will lead to higher prices and slow innovation in showing video online. Common Cause, Consumer Federatio...

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Music streamer SoundCloud has cash until fourth quarter after layoffs

FRANKFURT (Reuters) - SoundCloud, the world's biggest music-streaming service, is still struggling to find a business model - it now has just enough cash to last until fourth quarter, after laying off 40 percent of its staff, a representative said on Thursday. The Berlin-based start-up is different ...

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Snap shares draw bullish options bets after slipping below IPO price

NEW YORK (Reuters) - Options traders were placing bets this week that shares of Snap Inc (SNAP.N) were primed for a rebound after slipping below their initial public offering price of $17. Shares of the Snapchat parent have slumped since a red-hot March IPO, falling below their initial sale price on...

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FCC approves new spectrum for vehicle radar systems

WASHINGTON (Reuters) - The U.S. Federal Communications Commission on Thursday approved allocating a larger consolidated block of spectrum for use by motor vehicle and aircraft radar systems to help avoid crashes. The FCC first approved 1 GHz of spectrum in 1995 for motor vehicles to use radar that a...

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LPC: EagleTree to buy video game gear maker Corsair - sources

NEW YORK (Reuters) - Middle market private equity firm EagleTree Capital is in advanced discussions to acquire Corsair Components, a U.S. manufacturer of computer peripherals and hardware geared toward the professional gaming market, for more than $500 million, two sources familiar with the matter s...

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All-girl Afghan robotics team cleared to compete in United States

KABUL (Reuters) - A team of Afghan girls are on their way to compete in an academic robotics competition in the United States after American officials agreed to allow them to enter the country despite initially denying them visas. "We were disappointed, and we were feeling bad, but now we are very h...

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Foreign carmakers call on China to soften electric car quotas

FRANKFURT (Reuters) - Global automotive manufacturers have appealed to the Chinese government to soften proposals for electric and hybrid car quotas, a letter seen by Reuters showed. The letter is a joint protest against China's new energy vehicles (NEVs) proposals, which include a goal for hybrid a...

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Goldman Sachs relaxes dress code for techs in fight for talent

(Reuters) - Traditionally buttoned-up Wall Street bank Goldman Sachs Group Inc (GS.N) has relaxed the dress code for its computer engineers in a bid to attract tech talent with a more casual environment. The fifth-largest U.S. bank by assets told employees in its technology division to "exercise jud...

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French government to appeal pro-Google court tax ruling

PARIS (Reuters) - The French government said on Thursday it would appeal against a court ruling in Google's favour with regard to 1.1 billion euros ($1.25 billion) in tax. "We will appeal this judgment in defence of the interests of the state," budget minister Gerald Darmanin said in answer to a par...

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Carmakers demand changes to China's electric car quota: WirtschaftsWoche

FRANKFURT (Reuters) - The world's four biggest automotive industry associations have written to China's government to demand it change its plans for strict sales quotas for electrically powered vehicles, German weekly magazine WirtschaftsWoche reported, citing the letter. The associations, based in ...

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Yandex and Uber to merge in Russia and five eastern European countries

FRANKFURT (Reuters) - Yandex, the "Google of Russia", and Uber have agreed to merge their ride-sharing businesses in Russia and five eastern European markets with Yandex as leading partner, the companies said on Thursday, marking another pullback from Uber's breakneck global expansion that comes a y...

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Telecoms group Altice to launch online bank in Europe by early 2019: source

PARIS (Reuters) - French billionaire Patrick Drahi plans to launch an online bank by spring 2019 across the euro zone countries where his telecoms group Altice operates, a source close to the matter said on Thursday. Mobile operators are stepping up pressure on the traditional banks that dominate th...

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German military aviation command launches cyber threat initiative

BERLIN (Reuters) - The German military's aviation safety chief has launched a new initiative against cyber threats, citing research that he said shows hackers can commandeer military airplanes with the help of equipment that costs about 5,000 euros ($5,700). A defense ministry spokesman told Reuters...

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Trump Hotels discloses data breach at 14 properties

(Reuters) - Trump International Hotels Management LLC said late on Tuesday a data breach at a service provider compromised card payment details at 14 of its properties. The compromised information included payment card numbers and card security codes for some of the hotel chain's reservations proces...

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Google wins challenge against 1.1 billion euro French tax bill

PARIS (Reuters) - U.S. internet giant Google (GOOGL.O) on Wednesday won a court challenge against demands by French authorities that it pay 1.1 billion euros ($1.3 billion) in back taxes. The Paris administrative court ruled that Google Ireland Limited was not subject to corporate and value-added ta...

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Tech firms protest proposed changes to U.S. net neutrality rules

NEW YORK/WASHINGTON (Reuters) - Facebook, Twitter, Alphabet Inc and dozens of other major technology companies are participating in an online protest on Wednesday to oppose proposed changes to U.S. net neutrality rules that prohibit broadband providers from giving or selling access to certain intern...

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New Silicon Valley fund aims to connect auto companies and startups

DETROIT (Reuters) - Autotech Ventures, a Silicon Valley venture capital firm, said it had raised $120 million from automotive companies and financial investors for a fund that will invest in startups working on transportation services and digital vehicle technology. The fund will try to connect star...

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U.S. should not block Chinese chip acquisitions: China think-tank

BEIJING (Reuters) - The United States should not block Chinese acquisitions of U.S. semiconductor technologies, a leading state think-tank in Beijing said on Wednesday, as Washington heightens scrutiny of Chinese investments in the sector. Acquisitions and joint ventures are becoming more difficult ...

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Spotify signs Sony royalty deal while Warner holds out: reports

(Reuters) - Spotify has reached a licensing deal with a second major label, Sony Music Entertainment, according to media reports, setting the stage for a U.S. stock market listing by the music streaming leader. Recently valued at $13 billion, Sweden's Spotify is planning a direct listing on the New ...

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Toshiba regains access to credit line but tough conditions applied: sources

TOKYO (Reuters) - Crisis-hit Toshiba Corp has regained access to a crucial $6 billion credit line after stumping up shares in its chip unit as collateral but its lenders have imposed tough conditions, banking sources with direct knowledge of the matter said. Hit by massive cost overruns at its now b...

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Gaming hardware maker Razer seeks Oct HK IPO at up to $5 billion valuation: source

HONG KONG (Reuters) - Razer Inc, a gaming hardware maker backed by Intel Corp and Hong Kong billionaire Li Ka-shing, plans to go public toward the end of October in an IPO that will value the company at up to $5 billion, a person familiar with the deal said on Wednesday.

Kaspersky Lab complains it has been drawn into U.S.-Russia geopolitical game: RIA

MOSCOW (Reuters) - Russian cyber security firm Kaspersky Lab said on Wednesday it had fallen victim to geopolitical sparring between Russia and the United States, but said it was ready to respond to any questions from U.S. officials, the RIA news agency reported.

LeEco-backed Faraday Future moves SUV production as work halts on Las Vegas plant

TAIPEI (Reuters) - Startup Faraday Future said it would move production of its luxury electric SUV to a new location, from a planned $1 billion Las Vegas factory where construction has ground to a halt amid financial woes of key investor Chinese entrepreneur Jia Yueting. Faraday is part of a network...

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SK Hynix CEO says no plans to give up seeking equity in Toshiba chip business

SEOUL (Reuters) - SK Hynix Inc does not plan to abandon its aim to gain equity in Toshiba Corp's $18 billion memory chip business, the South Korean firm's chief executive said on Wednesday. CEO Park Sung-wook made the remarks to reporters on the sidelines of an industry event in South Korea, a spoke...

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Apple sets up China data center to meet new cybersecurity rules

BEIJING (Reuters) - Apple Inc (AAPL.O) has set up its first data center in China, in partnership with a local internet services company, to comply with tougher cybersecurity laws introduced by Beijing last month, it said on Wednesday. The U.S. company said it was setting up the facility in the south...

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Google Earth to let users post stories, photos in coming years

RIO DE JANEIRO (Reuters) - Alphabet Inc wants users to post millions of stories, video and photos on its Google Earth platform in the next few years, the program chief said on Tuesday at a launch event in Brazil for content focused on showcasing the Amazon rainforest.