Britain unveils new fintech plans, including cryptocurrencies

LONDON (Reuters) - Britain will announce a task force on Thursday to exploit the technology underpinning cryptoassets, such as bitcoin and other cryptocurrencies, as part of new plans to help fintech companies to find more customers.

Arizona police release video of fatal collision with Uber self-driving SUV

SAN FRANCISCO (Reuters) - Police in Arizona on Wednesday released a short video of a fatal collision between an Uber self-driving vehicle and a pedestrian, as an investigation continues into the accident that has put new focus on the safety of autonomous vehicles.

Zuckerberg says Facebook made mistakes on user data, vows curbs

SAN FRANCISCO (Reuters) - Facebook Inc Chief Executive Mark Zuckerberg said on Wednesday that his company made mistakes in how it handled data belonging to 50 million of its users and promised tougher steps to restrict developers' access to such information.

Slack Technologies builds engineering team to combat outages

SAN FRANCISCO (Reuters) - Collaboration software provider Slack Technologies Inc is building a safety engineering team that will develop methods to help reduce the disruptions that have been more frequent on Slack's service than rival systems, the company told Reuters.

Facebook's Zuckerberg acknowledges mistakes on user data, vows tougher curbs

SAN FRANCISCO/LONDON (Reuters) - Facebook Inc Chief Executive Mark Zuckerberg said on Wednesday that his company made mistakes in mishandling data belonging to 50 million of its users and promised tougher steps to restrict developers access to data.

In Canada, driverless cars learn to see in the snow

STRATFORD, Ontario (Reuters) - A Canadian town known for its annual theater festival is emerging as a hub of "snowtonomous" research, as automakers face demands to produce self-driving cars that can perform in snow and sleet.

Zuckerberg says Facebook 'made mistakes' on Cambridge Analytica

SAN FRANCISCO (Reuters) - Facebook Inc Chief Executive Mark Zuckerberg said on Wednesday that the social media company made mistakes that allowed data about users to end up with the analytics firm Cambridge Analytica and said the company would make changes.

Starbucks' mobile order push meets resistance from ritual seekers

LOS ANGELES (Reuters) - Starbucks Corp wants more people to use its time-saving mobile ordering app that lets customers buy drinks without waiting in line.

Tesla shareholders approve CEO Musk's $2.6 billion compensation plan

SAN FRANCISCO/BOSTON (Reuters) - Tesla Inc shareholders approved a compensation package potentially worth $2.6 billion for Chief Executive Elon Musk on Wednesday in a test of their confidence in the leader of the electric car company.

Cryptocurrency issuers clean up, shun U.S. investors as SEC gets tough

WASHINGTON/NEW YORK (Reuters) - Tech start-ups that issue digital tokens to raise funds are falling in line with U.S. securities laws or seeking legal ways to skirt them after the Securities and Exchange Commission (SEC) said it planned to regulate the market.

Facebook and UK political consultancy sued in data storm

NEW YORK/LONDON (Reuters) - A U.S. resident has sued Facebook and a British-based political consultancy for obtaining data from millions of the social media site's users without their permission, while an academic at the center of the storm accused both firms of scapegoating him.

BMW to double self-driving car testing fleet despite U.S. fatality

MUNICH (Reuters) - BMW will not change its strategy on autonomous vehicle testing despite the death of a pedestrian struck by a self-driving car during tests by ride-hailing firm Uber [UBER.UL], senior executives said on Wednesday.

Budget fashion brand H&M launches on Alibaba's Tmall in China

SHANGHAI (Reuters) - H&M, the world's second-biggest fashion retailer, launched its core brand on Alibaba's giant online marketplace Tmall on Wednesday to try to keep up with competition in China.

Scotland's female leaders tell Twitter: Clamp down on online abuse of women

EDINBURGH (Reuters) - Scotland's three most powerful female politicians have called on Twitter to do more to stop online abuse and harassment of women.

Tencent to invest more in video, payment after profit beats estimates

HONG KONG (Reuters) - Chinese internet giant Tencent Holdings will step up investments in areas such as video, payment and artificial intelligence, it said after reporting better than expected quarterly net profit thanks to a string of successful IPOs.

Designed in California, made in China: how the iPhone skews U.S. trade deficit

SHANGHAI (Reuters) - U.S. President Donald Trump often tweets from his iPhone about pressuring China to address its $375 billion trade surplus with the United States. But a closer look at the Apple smartphone reveals how the headline figure is distorted.

EU proposes online turnover tax for big tech firms

BRUSSELS (Reuters) - The European Commission proposed rules on Wednesday to make digital companies pay their fair share of tax, with U.S. tech giants such as Google , Facebook and Amazon set to foot a large chunk of the bill.

Chinese carmaker BYD close to completing battery recycling plant

BEIJING (Reuters) - Chinese electric vehicle maker BYD Co will open a battery recycling plant in Shanghai in the second quarter as it looks to reduce raw material costs and help to address battery waste, a spokeswoman said on Wednesday.

Academic behind Facebook breach says political influence was exaggerated

LONDON (Reuters) - The consultancy at the heart of a storm over Facebook data greatly exaggerated its role in Donald Trump's 2016 U.S. presidential victory and would not have been able to sway an election result, the academic who provided the data said.

Dropbox raises IPO price range by $2 on strong demand

(Reuters) - Dropbox Inc [DBX.O] has raised the price range for its initial public offering by $2 following strong demand for the first big tech IPO this year.

Nordea says its sustainable funds won't buy more Facebook stock

STOCKHOLM (Reuters) - Nordea, the Nordic region's biggest bank, will not let its sustainable funds buy more Facebook shares for the time being, its head of sustainable finance said.

Tencent fourth-quarter profit nearly doubles, beats estimates on investment gains

HONG KONG (Reuters) - Chinese internet giant Tencent Holdings Ltd posted a near doubling of quarterly net profit that beat expectations, as it deepened monetization of its growing customer traffic and its investments paid off following a string of IPOs last year.

In India, digital gold sellers hope trickle will become a rush

(Reuters) - A digital revolution is reshaping India's $34 billion gold market, with smartphones, e-wallets and flexible investment schemes drawing new buyers into a business dominated by traditional, face-to-face transactions.Digital payment systems have ballooned in popularity in India since the go...

Continue reading

BMW raises R&D spending for electric, autonomous cars

Munich (Reuters) - German carmaker BMW will increase research and development (R&D) spending to an all-time high of up to 7 billion euros ($8.6 billion) this year as part of efforts to bring 25 electrified models to market by 2025.

Academic behind Facebook breach says he is a 'scapegoat': BBC

LONDON (Reuters) - A Cambridge University academic who harvested data on millions of Facebook users said he has been made a scapegoat by the social network and a UK-based political consultancy that is accused of trying to sway public opinion for Donald Trump.

China smartphone makers join hands on apps, pose threat to WeChat

HONG KONG (Reuters) - China's biggest smartphone makers are collaborating to promote download-free "fast apps", in a move backed by the government and likely to threaten Tencent Holdings' grip on mobile traffic with its wildly popular WeChat app.

Exclusive: Kaspersky Lab plans Swiss data center to combat spying allegations - documents

MOSCOW/TORONTO (Reuters) - Moscow-based Kaspersky Lab plans to open a data center in Switzerland to address Western government concerns that Russia exploits its anti-virus software to spy on customers, according to internal documents seen by Reuters.

EU to unveil plan to tax turnover of big U.S. tech firms

BRUSSELS (Reuters) - The European Commission will propose rules on Wednesday designed to make digital companies pay their fair share of tax and set to hit U.S. tech giants such as Google and Facebook.

Arizona says not time to rein in self-driving cars after Uber fatality

TEMPE, Ariz./DETROIT (Reuters) - Arizona officials said on Tuesday they saw no immediate need to tighten rules on the testing of self-driving cars in the state in reaction to a fatal accident involving an Uber autonomous vehicle that has focused attention on the safety of the new technology.

Google closes $2.4 billion Chelsea Market deal to expand New York campus

NEW YORK (Reuters) - The $2.4 billion sale of New York's Chelsea Market to Alphabet Inc's Google closed on Tuesday in a deal that will expand the company's presence in the city's technology corridor along the Hudson River.