Technology News

Volkswagen to spend 44 billion euros on electric, autonomous cars by 2023

WOLFSBURG, Germany (Reuters) - Volkswagen (VOWG_p.DE) on Friday said it will spend 44 billion euros on electric cars, digitalization, autonomous driving and new mobility services by 2023 as part of a push by Europe’s largest carmaker to mass produce electric cars. The carmaker also plans to increase productivity of its factories by 30 percent by 2025, by building more vehicles with different brands on the same prod...

16 Nov 1:42 PM 0 Read More...

Supply glut mars Turing effect for Nvidia shares

(Reuters) - Worries about how fast the computing world will transition to Nvidia Corp’s (NVDA.O) next generation “Turing” graphic chips helped knock 20 percent off the value of its shares on Friday, after results pointed to a huge glut of unsold older generation chips. The world’s biggest maker of graphics cards for computer gaming pinned the blame for a disappointing holiday forecast on unsold “Pascal” ...

16 Nov 1:21 PM 0 Read More...

BlackBerry to buy cybersecurity firm Cylance for $1.4 billion

(Reuters) - BlackBerry Ltd said on Friday it will acquire Cylance, an artificial intelligence and cybersecurity company, for $1.4 billion in cash to help expand its QNX unit that makes software for next-generation autonomous cars. Besides the cash component, the deal includes the assumption of Cylance’s unvested employee incentives, BlackBerry said. California-based Cylance develops AI-based products to prevent cyb...

16 Nov 10:08 AM 0 Read More...

India's Flipkart Group fashion unit chief denies he is quitting

MUMBAI (Reuters) - The chief of Flipkart Group’s Myntra-Jabong fashion business on Friday denied a media report that he will quit after a reshuffle in the ranks following the ouster of group CEO Binny Bansal. “I’m very excited about Myntra,” Ananth Narayanan, the CEO of the business, told Reuters in an interview. “I certainly intend to continue.” But he did say that there would be some job cuts in the Jab...

16 Nov 10:01 AM 0 Read More...

'Crypto hangover' hammers Nvidia's outlook, shares drop 17 percent

(Reuters) - Chip designer Nvidia Corp (NVDA.O) on Thursday forecast disappointing sales for the holiday quarter, pinning the blame on unsold chips piling up with distributors and retailers after the evaporation of the cryptocurrency mining boom. The Santa Clara, California-based company also posted sales that missed expectations for its third quarter. Shares plunged nearly 17 percent in late trading to $168.32. For ...

16 Nov 1:14 AM 0 Read More...

Facebook defends Russia response, updates plan to curb misbehavior

SAN FRANCISCO (Reuters) - Facebook Inc (FB.O) Chairman and Chief Executive Mark Zuckerberg on Thursday defended his response to Russian election meddling on the world’s largest social media network and issued a new plan aimed at stifling misbehavior while maintaining a vibrant hub for online speech. His comments in a conference call with journalists and in a Facebook post followed a New York Times report on Wednesd...

16 Nov 1:01 AM 0 Read More...

Silicon eyed as way to boost electric car battery potential

(Reuters) - The race to build a better electric car battery is turning to silicon, with several companies working to engineer types of the material that can boost driving range and cut production costs. About 500,000 electric vehicles (EVs) were sold globally in 2016, a figure that is expected to jump sevenfold by 2022, according to the U.S. Energy Information Administration. That increase is forecast to be helped by...

15 Nov 11:50 PM 0 Read More...

Nvidia shares slide 17 percent as cryptocurrency demand vanishes

(Reuters) - Chip designer Nvidia Corp (NVDA.O) on Thursday forecast sales for its fiscal fourth quarter well below Wall Street expectations, pinning the blame on unsold chips piling up with distributors and retailers after the evaporation of the cryptocurrency mining boom. The Santa Clara, California-based company also posted sales that missed expectations for its third quarter. Shares plunged nearly 17 percent in l...

15 Nov 11:36 PM 0 Read More...

Nvidia forecasts revenue below estimates, shares slump 17 percent

(Reuters) - Chip designer Nvidia Corp missed third-quarter sales estimates and forecast current-quarter revenue below Wall Street expectations on Thursday, sending its shares down nearly 17 percent. Nvidia said it expected current-quarter revenue of $2.7 billion, plus or minus 2 percent, well below analysts’ average estimate of $3.40 billion, according to IBES data from Refinitiv. “Our near-term results reflect e...

15 Nov 9:43 PM 0 Read More...

Tesla slashes prices on home solar systems to spur sales

(Reuters) - Tesla Inc has cut prices on its residential solar systems by as much as 25 percent in a bid to lift lagging sales after the company streamlined its sales and marketing organization, a company official told Reuters on Thursday. Effective on Thursday, price quotes for potential solar customers will be between $3,000 and $5,000 lower, representing savings of about 15 to 25 percent, according to Sanjay Shah, ...

15 Nov 9:41 PM 0 Read More...