Technology News

EU to tell Amazon to pay Luxembourg back taxes: source

BRUSSELS (Reuters) - EU regulators are expected to order Amazon (AMZN.O) on Wednesday to pay Luxebourg millions of euros in back taxes, a person familiar with the matter said, the latest global company to be hit by an EU crackdown on unfair tax deals. The European Commission ruling wraps up a three-year long investigation into whether Amazon received an unfair advantage based on a 2003 Luxembourg tax ruling which all...

03 Oct 5:17 PM 0 Read More...

Former Equifax chief apologizes to Congress over hack

WASHINGTON (Reuters) - The former head of Equifax Inc (EFX.N) apologized repeatedly on Tuesday at a congressional hearing for the theft of millions of people’s personal data in a hacking breach, saying it took weeks for the credit bureau to understand the extent of the intrusion. Richard Smith retired last week but the 57-year-old executive led the company over the time of the hack, which Equifax acknowledged in ea...

03 Oct 4:42 PM 0 Read More...

Uber CEO meeting with London transport authority 'constructive'

LONDON (Reuters) - Uber’s new CEO Dara Khosrowshahi had a constructive meeting with London’s transport boss on Tuesday, the company said, just days after the city refused to renew its operating license. “Our new CEO had a constructive meeting with the Transport Commissioner this afternoon. We hope to have further discussions over the coming weeks as we are determined to make things right in London,” an Uber s...

03 Oct 4:06 PM 0 Read More...

Tesla's Model 3 bottlenecks prompt questions on targets

(Reuters) - Worries about whether Tesla Inc would meet its promises on production of its Model 3 mass-market sedan in the months ahead sent the electric car maker’s shares more than 2 percent lower on Tuesday as those in rivals climbed. The moves also followed a series of announcements by rival General Motors on its own electric car ambitions, which included a promise to take “bold steps” toward the first compl...

03 Oct 3:44 PM 0 Read More...

Tesla shares fall on warning of Model 3 bottleneck

(Reuters) - Shares in Tesla Inc were down 2 percent in trading before the bell on Tuesday after the luxury electric vehicle maker said its planned ramp-up for the new Model 3 mass-market sedan faced production bottlenecks. Tesla, which began production of the Model 3 in July, has so far delivered just 220 of those sedans and produced 260 during the quarter. The production of 260 Model 3 sedans in the quarter was far ...

03 Oct 12:25 PM 0 Read More...

Former Equifax chief will face questions from U.S. Congress over hack

WASHINGTON (Reuters) - U.S. lawmakers are due to question the former head of Equifax Inc (EFX.N) at a Tuesday hearing that could shed light on how hackers accessed the personal data of more than 140 million consumers. Richard Smith retired last week but the 57-year-old executive will answer for the breach that the credit bureau acknowledged in early September. Late Monday, Equifax said an independent review had boost...

03 Oct 4:16 AM 0 Read More...

Uber board set for contentious meeting over ex-CEO's power

SAN FRANCISCO (Reuters) - The board of Uber Technologies Inc [UBER.UL], including two new appointees of former Chief Executive Travis Kalanick, will meet on Tuesday to consider proposals that diminish the co-founder’s influence, strip early investors of supervoting power and secure a multibillion-dollar investment, sources said. Proponents of the measures believe they can prevail on each issue, despite the additio...

03 Oct 2:17 AM 0 Read More...

Facebook says 10 million U.S. users saw Russia-linked ads

NEW YORK (Reuters) - Some 10 million people in the United States saw politically divisive ads on Facebook that the company said were purchased in Russia in the months before and after last year’s U.S. presidential election, Facebook said on Monday. Facebook, which had not previously given such an estimate, said in a statement that it used modeling to estimate how many people saw at least one of the 3,000 ads. It a...

03 Oct 12:06 AM 0 Read More...

Equifax failed to patch security vulnerability in March: former CEO

WASHINGTON (Reuters) - Equifax Inc (EFX.N) was alerted in March to the software security vulnerability that led to hackers obtaining personal information of more than 140 million Americans but took months to patch it, its former CEO said in testimony to be delivered to Congress on Tuesday. “It appears that the breach occurred because of both human error and technology failures,” former CEO Richard Smith said in w...

02 Oct 9:19 PM 0 Read More...

Tesla deliveries rise in third quarter, but Model 3 faces 'bottlenecks'

(Reuters) - Luxury electric vehicle maker Tesla Inc (TSLA.O) said on Monday its deliveries rose 4.5 percent in the third quarter from the prior-year period, but said “production bottlenecks” had left the company behind its planned ramp-up for the new Model 3 mass-market sedan. Tesla said it delivered 26,150 vehicles in the third quarter, including 14,065 Model S vehicles and 11,865 Model X cars, up 17.7 percent f...

02 Oct 9:09 PM 0 Read More...