NEW YORK (Reuters) - In its first offering of online bank accounts, JPMorgan Chase & Co on Monday launched a new smartphone app that it hopes will attract new depositors, many of whom are young and may live far from any of its branch offices. FILE PHOTO: People pass the JP Morgan Chase & Co....
Tencent unit China Literature launches up to $1.1 billion HK IPO
HONG KONG (Reuters) - China Literature Ltd, China’s largest online publishing and e-book company, launched an initial public offering for up to $1.1 billion on Monday, seeking funds for acquisitions and to expand its digital publishing business. Tencent Holdings Ltd controls China Literature w...
Cisco nears deal to acquire BroadSoft: source
SAN FRANCISCO (Reuters) - Cisco Systems Inc, the world’s largest networking gear manufacturer, is nearing a deal to buy U.S. telecommunications software firm BroadSoft Inc for close to $2 billion, a person familiar with the matter said on Sunday. A newly installed phone made by Cisco is shown ...
JPMorgan partners with data start-up to boost fixed-income trading
NEW YORK (Reuters) - JPMorgan Chase & Co has partnered with data analytics start-up Mosaic Smart Data to help its fixed-income sales and trading business become more profitable. A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/...
China's recyclers eye looming electric vehicle battery mountain
SHANGHAI (Reuters) - After years of dismantling discarded televisions and laptops, a Shanghai recycling plant is readying itself for a new wave of waste: piles of exhausted batteries from the surge of electric vehicles hitting China’s streets. Batteries for electric vehicles are manufactured a...
Consumer goods firms harness online data to tap Southeast Asia e-commerce boom
SINGAPORE/BANGKOK (Reuters) - When diaper maker DSG International (Thailand) wants to know what its customers are thinking, it often turns to Lazada, an e-commerce firm majority-owned by Alibaba Group Holding (BABA.N). FILE PHOTO: The Singapore Lazada website is seen in this illustration photo June ...
Tesla reaffirms effort to build cars in China; mum on deal report
(Reuters) - Electric car maker Tesla Inc (TSLA.O) reaffirmed on Sunday it is talking with the Shanghai municipal government to set up a factory in the region and expects to agree on a plan by the end of the year, but declined to comment on a report that a deal has been reached. FILE PHOTO: Tesla Mod...
Tesla moves closer to deal to build cars in China
(Reuters) - Electric car maker Tesla Inc (TSLA.O) said on Sunday it is talking with the Shanghai municipal government to set up a factory in the region and expects to agree on a plan by the end of the year. FILE PHOTO: Tesla Model 3 cars are seen as Tesla holds an event at the factory handing over i...
Japan's Mitsubishi, U.S. partner to invest $1.8 billion in data centers: media
TOKYO (Reuters) - Japanese trading house Mitsubishi Corp (8058.T) plans to set up a joint venture with U.S. data center operator Digital Realty Trust (DLR.N) and build around 10 data centers in Japan by 2022 for 200 billion yen ($1.8 billion), the Nikkei said on Saturday. The logo of Mitsubishi Corp...
U.S. warns public about attacks on energy, industrial firms
(Reuters) - The U.S government issued a rare public warning about hacking campaigns targeting energy and industrial firms, the latest evidence that cyber attacks present an increasing threat to the power industry and other public infrastructure. A projection of cyber code on a hooded man is pictured...
Japan's Mitsubishi, U.S. partner to invest $1.8 billion in data centres: media
TOKYO (Reuters) - Japanese trading house Mitsubishi Corp (8058.T) plans to set up a joint venture with U.S. data centre operator Digital Realty Trust (DLR.N) and build around 10 data centres in Japan by 2022 for 200 billion yen ($1.8 billion), the Nikkei said on Saturday. The logo of Mitsubishi Corp...
Snap lays off 18 employees in recruiting division
SAN FRANCISCO (Reuters) - Social media company Snap Inc (SNAP.N) said on Friday it had laid off 18 people in its recruiting division, an unusual move for a young company with ambitious growth plans and a likely reflection of tough competition from Facebook Inc (FB.O). FILE PHOTO - A woman stands in ...
Consumer Reports says Tesla misunderstands 'positive' Model 3 rating
DETROIT (Reuters) - Consumer Reports said on Friday that Tesla Inc (TSLA.O) had apparently misunderstood the “average” reliability rating the magazine assigned to the electric carmaker’s Model 3 sedan this week, calling it generally “positive” for an all-new vehicle. FI...
Bitcoin soars to record high above $6,000
NEW YORK (Reuters) - Bitcoin surged to a record high of more than $6,000 on Friday, pushing its market capitalization to $100 billion at one point, as investors continued to bet on an asset that has a limited supply and has paved the way for a whole slew of crypto-currencies. Bitcoins are seen in th...
Whole Foods says hacking incident resolved
(Reuters) - Amazon.com Inc’s (AMZN.O) Whole Foods Market said on Friday it had replaced affected point-of-sale systems at venues located within some stores where payment card information had been stolen. FILE PHOTO: The Whole Foods Market in Superior, Colorado, United States July 26, 2017. REU...
Apple hit with trademark lawsuit over iPhone X 'animoji' feature
NEW YORK (Reuters) - A Japanese software company is suing Apple Inc (AAPL.O) in a U.S. court over the trademark for the term “animoji”, alleging the U.S. technology company stole the name to use on a feature of its iPhone X. FILE PHOTO: Apple Senior Vice President of Worldwide Marketing,...
Tech companies to lobby for immigrant 'Dreamers' to remain in U.S.
SAN FRANCISCO (Reuters) - Nearly two dozen major companies in technology and other industries are planning to launch a coalition to demand legislation that would allow young, illegal immigrants a path to permanent residency, according to documents seen by Reuters. People march across the Brooklyn Br...
Paris wants to regulate Asian bike-share operators
PARIS (Reuters) - Paris does not want Asian bike-sharing operators to burst into the city the way Airbnb and Uber did and plans to introduce regulation to ensure an orderly rollout of new bicycle schemes, a top city official told Reuters. Ofo France general manager Laurent Kennel poses with city bik...
London the starting line as Adidas laces up robotic shoe run
LONDON (Reuters) - Adidas has launched the first of six planned city-themed running shoe models in London as it capitalizes on its first Speedfactory, which it has opened in Germany and equipped with time-saving robotics. A sample AM4LDN shoe is displayed, at the launch of Adidas' new shoe line, mad...
XPO Logistics adding 6,000 holiday workers on e-commerce outlook
SEATTLE (Reuters) - XPO Logistics Inc said on Friday it is hiring more than 6,000 seasonal workers for the crucial peak holiday season, roughly 20 percent more than last year, as the third-largest publicly traded U.S. logistics company gears up for a surge in e-commerce deliveries. XPO’s previ...
Namibia tells Airbnb hosts to register or face jail
WINDHOEK (Reuters) - Namibia said on Friday that local home owners listed with U.S. short-term rental service Airbnb Inc risk imprisonment if they fail to register with the tourism regulatory body before the end of this year. FILE PHOTO: A woman talks on the phone at the Airbnb office headquarters i...
Uber opens up Paris travel database to help city planners
BRUSSELS (Reuters) - Uber [UBER.UL] said on Friday it would open up its trove of travel data in Paris to the public to help city officials and urban planners better understand transportation needs, as the company seeks to woo national authorities. FILE PHOTO: An advertisement for the Uber car and ri...
EU opens investigation into Chinese e-bike imports
BRUSSELS (Reuters) - The European Commission on Friday launched an investigation into the import of electronic bikes (e-bikes) from China after European producers complained that they are being sold at excessively low prices with the help of unfair subsidies. The European Bicycle Manufacturers Assoc...
Ride hailing firm Grab secures up to $700 million in debt facilities
SINGAPORE (Reuters) - Singapore-headquartered Grab, the main Southeast Asian rival of Uber Technologies Inc [UBER.UL], said on Friday it had secured debt facilities of up to $700 million to help expand its car rental program. FILE PHOTO: A Grab motorbike helmet is displayed during Grab's fifth anniv...
Exclusive: Tech companies to lobby for immigrant 'Dreamers' to remain in U.S.
SAN FRANCISCO (Reuters) - Nearly two dozen major U.S. companies in technology and other industries are planning to launch a coalition to demand legislation that would allow young, illegal immigrants a path to permanent residency, according to documents seen by Reuters. The Coalition for the American...
SoftBank's big checks are stalling tech IPOs
LAGUNA BEACH, Calif. (Reuters) - Big cash infusions for startups from an ever-expanding group of financiers, led by SoftBank Group Corp (9984.T) and Middle East sovereign wealth funds, have extinguished hopes that the technology IPO market would bounce back this year. These deep-pocketed financiers,...
PayPal tops profit estimates, lifts target on mobile payments growth
(Reuters) - Sharp growth in mobile payments led PayPal Holdings Inc (PYPL.O) to report a better-than-expected third-quarter profit on Thursday and lift its guidance for earnings through the rest of the year. The San Jose, California-based payments company has been working hard in recent years to exp...
PayPal quarterly profit beats on higher mobile transaction volume
(Reuters) - Payment processor PayPal Holdings Inc (PYPL.O) reported a better-than-expected quarterly profit on Thursday, helped by mobile payments volume that more than doubled. The company’s shares were up 3.4 percent at $69.55 in extended trading. San Jose, California-based PayPal has been e...
U.S. lawmakers want crackdown on Facebook, Twitter political ads
WASHINGTON (Reuters) - U.S. lawmakers, alarmed that foreign entities used the internet to influence last year’s election, introduced legislation on Thursday to extend rules governing political advertising on television, print and radio to also cover social media like Facebook Inc (FB.O). Democ...
Billions in tax breaks offered to Amazon for second headquarters
(Reuters) - A public contest ending Thursday to bid over housing Amazon.com Inc’s (AMZN.O) second headquarters has drawn pitches from governors and a prime minister, marketing campaigns and offers of tax credits worth at least as much as $7 billion. The world’s largest online retailer ha...