Facebook employee fired over bragging about access to user information

(Reuters) - Facebook Inc on Thursday said that it fired an employee accused of bragging on matchmaking app Tinder about his access to private user information.

U.S. safety agency says 'did not assess' Tesla Autopilot effectiveness

WASHINGTON (Reuters) - A U.S. traffic safety regulator on Wednesday contradicted Tesla Inc's claim that the agency had found that its Autopilot technology significantly reduced crashes, saying that regulators "did not assess" the system's effectiveness in a 2017 report.

Spotify falls just short on revenue, sending shares tumbling

LONDON/BENGALURU (Reuters) - Spotify Technology SA shares dropped 9 percent after the streaming music leader's subscriber outlook and quarterly revenue fell just short of analyst estimates in its first report as a public company.

Ex-NSA chief's startup raises $78 million, helps defend U.S. power grid

WASHINGTON (Reuters) - IronNet Cybersecurity Inc, a startup led by former U.S. National Security Agency chief Keith Alexander, has raised $78 million in additional funding, the company told Reuters on Wednesday, a day ahead of a planned announcement.

Tesla says Model 3 production on track, will curb spending in 2018

SAN FRANCISCO (Reuters) - Tesla Inc stood by its production targets for its Model 3 on Wednesday, assuring investors that its key new vehicle was on track, and sought to downplay increased wariness over its finances, saying it expected to achieve net profit in both its third and fourth quarters.

Poorest U.S. consumers seen hit hard by T-Mobile, Sprint merger

(Reuters) - The poorest U.S. consumers would lose most from the proposed tie-up of wireless carriers T-Mobile US Inc and Sprint Corp, according to consumer advocates who warned the combined company would hike fees for pre-paid and other low-cost mobile phone plans.

Spotify revenue just shy of Wall Street estimate, shares drop

LONDON/BENGALURU (Reuters) - Music streaming leader Spotify Technology on Wednesday posted quarterly revenue just below Wall Street's average estimate in its first report as a publicly traded company, sending its shares down 9 percent in after-hours trading.

Fitbit's current-quarter revenue forecast misses estimates

(Reuters) - Wearable device maker Fitbit Inc's forecast for current-quarter revenue missed Wall Street estimates, hurt by a drop in sales of fitness trackers.

Amazon makes bid to spoil Walmart-Flipkart deal: report

BENGALURU/MUMBAI (Reuters) - Amazon.com Inc has made a formal offer to buy 60 percent of Flipkart, CNBC-TV18 reported on Wednesday, potentially complicating Walmart Inc's bid for majority ownership of the Indian online retailer.

Spotify operating loss narrows in first quarterly report

LONDON (Reuters) - Spotify Technology on Wednesday posted quarterly revenue in line with its recent outlook and sharply lower operating losses in the music streaming leader's first financial report as a publicly traded company.

U.S. considering restrictions on China's telecoms companies: sources

WASHINGTON (Reuters) - The Trump administration is considering issuing an executive order that would restrict some Chinese companies' ability to sell telecommunications equipment in the United States, two industry officials said, an action likely aimed at Huawei Technologies Co Ltd [HWT.UL] and ZTE ...

Continue reading

Apple services segment faces margin, competitive challenges

(Reuters) - Apple Inc is betting on services such as app downloads and music subscriptions to help drive growth as the cell phone market matures, but the company faces tough competitors and potentially low profit margins in some of its target areas.

U.S. considering restrictions on China's telecoms companies: WSJ

WASHINGTON (Reuters) - The Trump administration is considering executive action to restrict some Chinese companies' ability to sell telecommunications equipment in the United States, the Wall Street Journal reported on Wednesday.

U.S. considering restrictions on Chinese telecoms companies: WSJ

WASHINGTON (Reuters) - The Trump administration is considering executive action to restrict some Chinese companies’ ability to sell telecommunications equipment in the United States, the Wall Street Journal reported on Wednesday.

Aerospace suppliers look to blockchain for parts tracking

BERLIN (Reuters) - Aerospace suppliers are starting to explore blockchain technology to keep tabs on their supply chain, potentially tracking parts such as those identified as the cause of a Southwest Airlines accident last month.

TSB chief to lose bonus linked to botched IT upgrade

LONDON (Reuters) - The chief executive of British bank TSB, Paul Pester, will not get a bonus linked to the bank's botched computer system migration, TSB's Chairman Richard Meddings told lawmakers on Wednesday.

Pentagon stops selling Huawei, ZTE phones in its bases, cites security

WASHINGTON (Reuters) - The U.S. Department of Defense has stopped selling mobile phones and modems made by the Chinese technology companies Huawei Technologies and ZTE Corp in stores on its military bases, citing potential security risks.

App redesign haunts Snap as investors flee

(Reuters) - Shares of Snap Inc sank as much as 22 percent to the lowest since its 2017 flotation on Wednesday, after first quarter numbers showed it losing confidence among users and advertisers due to a widely-panned redesign of Snapchat.

TSB chief executive to lose bonus linked to computer system migration

LONDON (Reuters) - The Chief Executive of British lender TSB, Paul Pester, will not receive a bonus that he was due and which was linked to the bank's botched computer system migration, TSB's chairman Richard Meddings told lawmakers on Wednesday.

Apple shares rise after sales quell iPhone worries

(Reuters) - Shares of Apple Inc rose 3 percent on Wednesday after the company's quarterly report and current-quarter iPhone sales forecast calmed investor nerves about a potential slowdown in sales of its flagship product.

App redesign haunts Snap as investors flee stock

(Reuters) - Shares of Snap Inc fell 17 percent on Wednesday, a day after the Snapchat owner missed first-quarter user targets and said revenue growth would see a substantial slowdown in the current quarter as backlash over the app's redesign kept advertisers at bay.

ECB designs cyber attack simulation for financial firms

FRANKFURT (Reuters) - The European Central Bank has designed a new test simulating cyber attacks on banks, stock exchanges and other firms that are critical for the functioning of the financial system, it said on Wednesday.

Irish court rejects Facebook bid to delay EU data privacy case

DUBLIN (Reuters) - Ireland's High Court has refused a request by Facebook to delay referral to Europe's top court of a landmark privacy case that could strike down legal instruments used by U.S. tech companies to transfer EU users' data to the United States.

Flight of imagination: Chinese firm breaks record with 1,374 dancing drones

BEIJING (Reuters) - A Chinese drone company has broken the Guinness World Record for most drones flown simultaneously in a 13-minute flight that involved 1,374 drones spread over a kilometer.

Irish High Court refuses Facebook bid to delay privacy case referral

DUBLIN (Reuters) - Ireland's High Court refused a request by Facebook to delay a referral of a landmark privacy case to Europe's top court on Wednesday, ordering its immediate referral.

Amazon offers to buy 60 percent stake in India's Flipkart: CNBC-TV18

(Reuters) - Amazon.com Inc has made a formal offer to buy a 60 percent stake in Indian online retailer Flipkart, CNBC-TV18 reported on Wednesday, citing sources.

After downturn, Islamic finance eyes profits, fintech: survey

(Reuters) - Islamic banks and insurers are focusing on profitability and new financial products as the industry shifts away from years of containing the adverse impact of low oil prices, an industry body said on Wednesday.

Kenya's Safaricom pilots messaging app linked to mobile money

NAIROBI (Reuters) - Safaricom, Kenya's biggest telecoms company, is piloting a social messaging app that will link to its mobile money platform in an attempt to move the company into the application business, the company said on Tuesday.

Apple surprises with solid iPhone sales, announces $100 billion buyback

(Reuters) - Apple Inc on Tuesday reported resilient iPhone sales in the face of waning global demand and promised $100 billion in additional stock buybacks, reassuring investors that its decade-old smartphone invention had life in it yet.

Cyberwarfare, populism top 'black swan' events at Milken conference

BEVERLY HILLS, Calif. (Reuters) - Cyberwarfare and populism are some of the top risks that could threaten global stability and financial markets in the years ahead, investors and policymakers warned at the annual Milken Institute Global Conference this week, as they characterized them as black swan ...

Continue reading