Technology News

Alibaba suffers rare 'down round' investment as Babytree's HK IPO prices low: sources

HONG KONG (Reuters) - China’s Babytree Group, a parenting website operator, has priced its Hong Kong IPO at the bottom of a marketing range, people close to the deal said, reducing its valuation and implying a ‘down round’ for investor Alibaba Group Holding Ltd (BABA.N). Babytree will sell shares in the initial public offering (IPO) at HK$6.80 each - the low end of a range that reached HK$8.80 - to raise $217 m...

21 Nov 7:30 AM 0 Read More...

Crunch time for Tencent Music's 2018 $2 billion IPO hopes

HONG KONG (Reuters) - Tencent Music Entertainment (TME) – China’s answer to Spotify (SPOT.N) – is facing crunch time on its hotly anticipated U.S. $2 billion mega IPO this year. The streaming music giant, which has more than 800 million monthly users, had initially pencilled in an October launch for a U.S. initial public offering (IPO) of up to $2 billion, but decided last month to delay until November in the h...

21 Nov 2:48 AM 0 Read More...

Facebook sued by Russian firm linked to woman charged by U.S.

(Reuters) - A Russian company whose accountant was charged by federal prosecutors for attempting to meddle in U.S. elections sued Facebook Inc on Tuesday, claiming it is a legitimate news outlet and its Facebook account should be restored. The Federal Agency of News LLC, known as FAN, and its sole shareholder, Evgeniy Zubarev, filed the lawsuit in federal court in the Northern District of California, seeking damages ...

21 Nov 12:22 AM 0 Read More...

British Columbia moves to phase out non-electric car sales by 2040

VANCOUVER (Reuters) - British Columbia’s premier said on Tuesday his government will introduce legislation next year that will require all new light-duty cars and trucks sold in the province by 2040 to be electric or zero-emission vehicles. Premier John Horgan said the government will phase in the sales targets, which apply only to new vehicles. They will start at 10 percent by 2025, rising to 30 percent by 2030 an...

20 Nov 10:41 PM 0 Read More...

Facebook sued by Russian firm linked to woman charged by U.S. prosecutors

(Reuters) - A Russian company whose accountant was charged by federal prosecutors for attempting to meddle in U.S. elections sued Facebook Inc (FB.O) on Tuesday, claiming it is a legitimate news firm and its Facebook account should be restored. The Federal Agency of News LLC, known as FAN, and its sole shareholder, Evgeniy Zubarev, filed the lawsuit in the federal court in the Northern District of California, seeking...

20 Nov 10:15 PM 0 Read More...

Bitcoin crashes to lowest this year, losses top 25 percent in a week

LONDON (Reuters) - Bitcoin slumped on Tuesday to its lowest this year, tumbling as much as 10 percent to breach $4,300 and taking losses in the world’s best-known digital coin to 25 percent within a week. Other smaller coins also skidded sharply as a broader cryptocurrency sell-off, said by traders and market makers to be rooted in heavy selling at leveraged Asian exchanges, gathered steam. The fall followed a sudd...

20 Nov 4:23 PM 0 Read More...

DWS Group partners with real estate tech startup Skyline AI

TEL AVIV (Reuters) - German asset manager DWS Group (DWSG.DE) said on Tuesday it has entered into a strategic partnership with and become a minority shareholder in Skyline AI, a real estate asset management technology company. Financial details were not disclosed. Skyline AI uses artificial intelligence to analyze, acquire, manage and sell institutional-grade real estate investment opportunities throughout the United...

20 Nov 2:23 PM 0 Read More...

Micron leads chipmaker losses as demand concerns grow

(Reuters) - Shares of Micron Technology led falls for U.S. microchip producers on Tuesday, driven by a combination of concerns over slackening iPhone demand and a series of brokerage downgrades that reflect a growing technology stock selloff. Micron shares fell 7 percent in early trading after brokerage Baird Equity Research downgraded the stock to “underperform”, citing fall in memory chip prices. Weak demand f...

20 Nov 2:15 PM 0 Read More...

SoftBank doubles down on Korean online retailer Coupang with $2 billion investment

SEOUL (Reuters) - SoftBank Group Corp’s Vision Fund is investing $2 billion in South Korea’s top e-commerce firm Coupang, the retailer said on Tuesday, as the loss-making startup girds for battle against rivals backed by the country’s cash-rich chaebol. The latest investment follows the $1 billion that SoftBank invested in Coupang in 2015 and values the eight-year-old startup at around $9 billion, a source clos...

20 Nov 2:07 PM 0 Read More...

Bitcoin slump takes pressure off Britain's regulators

LONDON (Reuters) - A plunge in the value of bitcoin and other cryptoassets has eased the pressure on Britain’s financial watchdog to take radical action that could deter investment and financial innovation, government officials and regulators said on Tuesday. The rapid growth in bitcoin and other initial coin offerings last year prompted regulators and central bankers around the world to take a closer look at the s...

20 Nov 1:25 PM 0 Read More...