Technology News

UK looking to increase pressure on internet firms over extremist material: minister

LONDON Britain is looking at range of options to put pressure on internet companies to do more to take down extremist material, Security Minister Ben Wallace said on Sunday.The government has previously complained technology companies are not doing enough to tackle the use of their networks both to promote extremist ideology and for communication between militant suspects. "We are ...

28 May 11:04 AM 0 Read More...

BA cancels flights from London as global IT outage causes chaos

LONDON British Airways canceled all its flights from London's two biggest airports on Saturday after a global computer system failure caused confusion and chaos, with thousands of passengers queuing for hours and planes left stuck on runways.The failure, caused by a power supply problem, disrupted BA's flight operations worldwide and also hit its call centers and website, said Alex Cruz, the chairman and chief ex...

27 May 6:45 PM 0 Read More...

Acquisitions accelerate as tech giants seek to build AI smarts

SAN FRANCISCO A total of 34 artificial intelligence startups were acquired in the first quarter of this year, more than twice the amount of activity in the year-ago quarter, according to the research firm CB Insights.Tech giants seeking to reinforce their leads in artificial intelligence or make up for lost ground have been the most aggressive buyers. Alphabet Inc's (GOOGL.O) Google has acquired 11 AI startups si...

26 May 7:26 PM 0 Read More...

Major U.S. tech firms press Congress for internet surveillance reforms

WASHINGTON Facebook, Amazon and more than two dozen other U.S. technology companies pressed Congress on Friday to make changes to a broad internet surveillance law, saying they were necessary to improve privacy protections and increase government transparency.The request marks the first significant public effort by Silicon Valley to wade into what is expected to be a contentious debate later the year over the For...

26 May 3:53 PM 0 Read More...

China LeEco's sports unit says valued at $3.5 billion after new funding round

BEIJING/SHANGHAI Chinese tech conglomerate LeEco's sports unit said it completed a new round of funding that valued it at 24 billion yuan ($3.50 billion) and that its investors will form a new committee to supervise its finances.LeEco is currently tackling a cash crunch, caused by its aggressive expansion, by restructuring its operations and cutting jobs. The unit, LeSports, a sports content platform, did not di...

26 May 10:29 AM 0 Read More...

Japan, South Korea drive global bitcoin prices as retail investor pile in

HONG KONG Japanese and South Korean buying helped drive the price of bitcoin to an all-time high this week, with the digital currency more than doubling its value since the start of the year, analysts and market practitioners said on Friday.Frenzied buying as the price peaked at $2,760.10 on Thursday caused website outages on Coinbase, the global bitcoin company that allows consumers to buy and sell bitcoins. The ...

26 May 9:53 AM 0 Read More...

Samsung Electronics to set up fund to help suppliers amid Moon's reform push

SEOUL Samsung Electronics Co Ltd said it would set up a 500 billion won ($445 million) fund to help small suppliers, the highest-profile South Korean firm to unveil steps in the wake of new President Moon Jae-in's call to protect small businesses.Moon came to power this month promising to rein in the family-owned conglomerates that dominate Asia's fourth-largest economy. Calling himself the 'jobs president', he ha...

26 May 2:28 AM 0 Read More...

Billionaire Slim eyeing electric taxi to reduce pollution in Mexico City

MEXICO CITY Giant Motors, an automaker partially owned by Mexican billionaire Carlos Slim, is working on a prototype electric taxi to replace the gas-guzzling cabs polluting Mexico City's air, a company executive said.Giant has partnered with electric vehicle maker Moldex, a unit of Mexican breadmaker Grupo Bimbo (BIMBOA.MX), and four Mexican universities to produce the environmentally friendly car that will even...

25 May 10:24 PM 0 Read More...

Coinbase suffers outages amid bitcoin surge

Coinbase said on Thursday it suffered outages this week as the bitcoin exchange saw "unprecedented traffic and trading," with the digital currency hitting record levels.Bitcoin fell as much as 6.5 percent to $2,263.72 at around 1730 GMT on Thursday, but rebounded shortly after to hit a fresh all-time high of $2,760.10. Bitcoin hit a record on the BitStamp platform on Wednesday, dri...

25 May 7:41 PM 0 Read More...

Global chat platform Kik to launch digital currency

NEW YORK Kik Interactive, which created the chat platform Kik, said on Thursday it was launching a crypto-currency or token called Kin that would enable customers to use a whole range of digital services.Kik is a free chat and messaging application founded in 2009 and built for teenagers, with about 300 million registered users.The Kin token will be created on the Ethereum blockchain, another online public ledger...

25 May 1:22 PM 0 Read More...