Toshiba gains breathing room with $5.4 billion share issue to overseas investors

TOKYO/HONG KONG (Reuters) - Toshiba Corp’s planned $5.4 billion new share issue to overseas investors is set to provide it with most of the funds it needs to avoid a delisting - a quickly arranged deal that underscores both the weakness of its finances and the allure of its chips unit. FILE PH...

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Bipartisan Harvard panel recommends hacking safeguards for elections

SAN FRANCISCO (Reuters) - A bipartisan Harvard University project aimed at protecting elections from hacking and propaganda will release its first set of recommendations today on how U.S. elections can be defended from hacking attacks. FILE PHOTO: An unidentified voter casts his ballot at a local po...

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Toshiba $5 billion stock issue results in huge dilution but delisting risk removed

TOKYO (Reuters) - Toshiba Corp’s plan to raise some $5.4 billion through a sale of new shares will help it avoid a delisting, but will also see more 30 overseas investors, including activist funds, own 35 percent of the embattled conglomerate. FILE PHOTO: The logo of Toshiba Corp is seen as wi...

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Marvell Technology clinches roughly $6 billion deal to buy Cavium: sources

(Reuters) - Chipmaker Marvell Technology Group Ltd (MRVL.O) has agreed to acquire smaller peer Cavium Inc (CAVM.O) for around $6 billion, as it seeks to expand in the networking equipment sector, people familiar with the matter said on Sunday. The deal will allow Marvell to diversify away from its t...

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Toshiba shares drop after plan to issue $5.4 billion in new shares

TOKYO (Reuters) - Shares of Toshiba Corp fell nearly 5 percent early on Monday, a day after the troubled conglomerate said it would raise 600 billion yen ($5.4 billion) from a sale of new shares in a key step that would allow it to stay publicly traded. FILE PHOTO: The logo of Toshiba Corp is seen a...

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IBM could be set for gains after long slump: Barron's

NEW YORK (Reuters) - International Business Machines Corp (IBM.N) could be the next blue-chip company with a rising valuation, according to a report in financial publication Barron‘s. The logo for IBM is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19,...

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Driverless cars set for UK budget boost: finance ministry

LONDON (Reuters) - British finance minister Philip Hammond’s budget statement this week will include measures to encourage the development of driverless and electric cars, artificial intelligence and telecommunications, the finance ministry said on Sunday. Britain's Finance Secretary Philip Ha...

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Exclusive: Qualcomm set to win conditional Japanese antitrust okay for NXP deal - source

BRUSSELS (Reuters) - U.S. smartphone chipmaker Qualcomm is set to win “imminent” Japanese antitrust clearance for its $38-billion bid for NXP Semiconductors and gain Europe’s approval by the end of the year with slight tweaks to its concessions, a person familiar with the matter sa...

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China Citic, Baidu launch direct bank in fintech push

BEIJING (Reuters) - China Citic Bank Corp (601998.SS) and search engine giant Baidu Inc (BIDU.O) launched on Saturday a direct banking joint venture, dubbed AiBank, to capitalize on China’s rapidly growing fintech sector. FILE PHOTO: A man stands in front of CITIC bank's branch in Beijing, Chi...

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Verizon close to announcing digital streaming deal with NFL: Bloomberg

(Reuters) - Verizon Communications Inc, no. 1 U.S. wireless carrier, is close to a new deal with the National Football League for digital streaming rights, Bloomberg reported, citing people familiar with the matter. The Verizon logo is seen on the side of a truck in New York City, U.S., October 13, ...

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Brazil speaker wants city rules for Uber, other car-hailing apps

BRASILIA (Reuters) - The head of Brazil’s lower house of Congress said on Friday he hopes that the chamber will undo amendments by the Senate to a bill regulating ride-hailing apps such as Uber Technologies Inc [UBER.UL]. The Uber logo is seen on a screen in Singapore August 4, 2017. REUTERS/T...

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Volkswagen accelerates push into electric cars with $40 billion spending plan

WOLFSBURG/HAMBURG (Reuters) - Volkswagen (VOWG_p.DE) approved a 34 billion euro ($40 bln) spending plan on Friday that accelerates its efforts to become a global leader in electric cars. The world’s largest carmaker by unit sales will spend the money on electric cars, autonomous driving and ne...

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Tesla's unfettered ambition will drain finances: analysts

(Reuters) - Tesla Inc shares rose on Friday as analysts questioned how soon Chief Executive Elon Musk will have to ask creditors and shareholders for more capital to fund development of an electric semi truck, a new roadster and accelerated production of a high-volume electric sedan. The Tesla Roads...

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Apple pushes launch of HomePod smart speaker to early 2018

(Reuters) - Apple Inc has pushed the launch of its HomePod smart speaker to early next year from December, the company said on Friday. Phil Schiller, senior vice president of worldwide marketing announces the new Apple HomePod during the annual Worldwide Developer Conference (WWDC) in San Jose, Cali...

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Tesla's unfettered ambition to drain finances: analysts

(Reuters) - Tesla Inc will face further questions about how fast it is burning through its cash pile and how soon it will have to ask creditors and shareholders for more after it unveiled its latest electric vehicles. The Tesla Roadster 2. Tesla/via REUTERS Investors prodded Tesla’s shares 2 p...

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Exclusive: Toshiba set to OK $5 billion injection Monday to stay listed-sources

TOKYO (Reuters) - Toshiba Corp (6502.T) will decide on Monday to raise some $5 billion from overseas investors, allowing the troubled conglomerate to remain a publicly traded company even if the sale of a key business is delayed, two people with direct knowledge of the process said. FILE PHOTO: A lo...

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Broadcom closes $5.5 billion Brocade deal

(Reuters) - Broadcom Ltd said on Friday it closed its acquisition of network gear maker Brocade Communications Systems Inc, giving it a larger share of the data center products market. A sign to the campus offices of chip maker Broadcom Ltd, is shown in Irvine, California, U.S., November 6, 2017. RE...

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Broadcom completes Brocade acquisition

(Reuters) - Broadcom Ltd said on Friday it completed its $5.5 billion acquisition of network gear maker Brocade Communications Systems Inc. A sign to the campus offices of chip maker Broadcom Ltd, is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake Broadcom, which made a $103 ...

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Volkswagen to spend more than $40 billion on electric cars, autonomous driving

WOLFSBURG, Germany (Reuters) - Volkswagen (VOWG_p.DE) will spend more than 34 billion euros ($40 billion) on electric cars, autonomous driving and new mobility services by the end of 2022, the group said on Friday. A Volkswagen Golf GTE is being charged during a workshop prior to Auto Guangzhou in G...

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Tesla's unfettered ambition to strain finances but investors unfazed

(Reuters) - Investors shrugged off any concern over Tesla Inc over-stretching its production and financial resources with the unveiling of new futuristic semi-trucks and a pricey sports car, pushing its shares up almost 4 percent on Friday. The Tesla Roadster 2. Tesla/via REUTERS Chief Executive Elo...

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Fork talk lifts bitcoin to all-time high near $8,000

LONDON (Reuters) - Bitcoin hit an all-time high just below $8,000 (£6,060) on Friday, on talk that a software upgrade whose suspension sent the cryptocurrency into a tailspin at the end of last week was, after all, going ahead within hours. Bitcoin (virtual currency) coins placed on Dollar ban...

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Metal recyclers prepare for electric car revolution

LONDON (Reuters) - Recycling companies are honing processes to extract metals from old batteries more cheaply and efficiently so they can capitalize on an expected shortfall in materials such as cobalt and lithium when sales of electric cars take off. Pyrolised Lithium-ion accus of laptops, smartpho...

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Wireless carriers on mute as Supreme Court hears big privacy case

WASHINGTON (Reuters) - The U.S. Supreme Court is set to consider a major cellphone privacy case later this month, but leading players in the wireless industry that is at the center of the closely watched dispute are keeping their distance. FILE PHOTO: A woman uses her phone to photograph One World T...

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Jaguar Land Rover tests first driverless vehicle on public roads

LONDON (Reuters) - Britain’s biggest automaker, Jaguar Land Rover (JLR), has tested its first driverless car on public roads, it said on Friday, as carmakers race against each other and tech firms to tap into new technologies. Signs are seen outside the Jaguar Land Rover plant at Halewood in L...

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SAP sees margins flattening out in fourth quarter: CFO

BARCELONA (Reuters) - Business software company SAP sees the potential for profit margins to hit bottom during the fourth quarter after three years of declines, with improving profits to begin to show up in 2018, Chief Financial Officer Luka Mucic said on Friday. FILE PHOTO: SAP logo at SAP headquar...

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New $200,000 Tesla Roadster speeds in front of electric big-rig truck

HAWTHORNE, Calif. (Reuters) - Tesla Inc (TSLA.O) upstaged its own debut of an electric heavy duty truck when a red Roadster pulled out of the big rig’s trailer and Chief Executive Elon Musk said the new $200,000 sports car would be the fastest production car ever. Tesla's new electric semi tru...

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Tesla unveils electric big-rig truck, sporty Roadster

HAWTHORNE, Calif. (Reuters) - Tesla Inc (TSLA.O) on Thursday unveiled a prototype electric big-rig truck that it will start producing in 2019, throwing itself into a new market even as it struggles to roll out an affordable sedan on which the company’s future depends. Tesla CEO Elon Musk shows...

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Tesla unveils electric big-rig truck in midst of Model 3 factory 'hell'

HAWTHORNE, Calif. (Reuters) - Tesla Inc on Thursday unveiled a prototype electric big-rig truck, throwing itself into a new market even as it struggles to roll out an affordable sedan on which the company’s future depends. A Tesla car showroom is seen in west London, Britain, March 21, 2017. R...

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Toshiba says not in talks to with any company over PC unit sale

TOKYO (Reuters) - Toshiba Corp said on Friday it had not entered into talks with any company to sell its personal computer business, denying media reports that it was in negotiations to sell the unit to Taiwan’s Asustek Computer Inc. FILE PHOTO: A logo of Toshiba Corp is seen outside an electr...

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Toshiba says not considering separate investment in chip unit by Bain group member

TOKYO (Reuters) - Toshiba Corp said on Friday it was not considering accepting any separate investment in its memory chip unit by a member of a Bain Capital-led consortium that has agreed to buy the prized business for $18 billion. FILE PHOTO: A logo of Toshiba Corp is seen outside an electronics re...

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