Technology News

ThoughtSpot raises $60 million, ends funding round for artificial intelligence technology

SAN FRANCISCO (Reuters) - Silicon Valley technology company ThoughtSpot has completed a $120 million funding round to fuel the start-up's new artificial intelligence endeavor. ThoughtSpot, based in Palo Alto, California, said on Thursday it had raised $60 million from investors in a financing round led by venture capital firm Lightspeed Venture Partners. The investment round, completed in January but previously undis...

17 Aug 4:49 PM 0 Read More...

Uber wins reversal in lawsuit over price-fixing, arbitration

NEW YORK (Reuters) - Uber Technologies Inc [UBER.UL] on Thursday won a victory in its effort to keep unhappy customers from suing in court, persuading a federal appeals court to send a Connecticut passenger's price-fixing case against the ride-service company into arbitration. Overturning a lower court ruling, the 2nd U.S. Circuit Court of Appeals in Manhattan said Uber and former Chief Executive Officer Travis Kalan...

17 Aug 4:36 PM 0 Read More...

China's Alibaba outstrips revenue estimates with online sales growth

(Reuters) - Alibaba, China's top e-commerce firm, beat analyst's estimates with a 56 percent rise in first-quarter revenue, driven by growth in online sales which make up most of its business. Thursday's results show that Alibaba Group Holding Ltd (BABA.N), one of Asia's most valuable companies, is benefiting from more and more Chinese buying an increasing proportion of everything from food to clothing to luxury item...

17 Aug 11:19 AM 0 Read More...

Hyundai plans long-range premium electric car in strategic shift

SEOUL (Reuters) - Hyundai Motor Co (005380.KS) said on Thursday it was placing electric vehicles at the center of its product strategy - one that includes plans for a premium long-distance electric car as it seeks to catch up to Tesla (TSLA.O) and other rivals. Like Toyota Motor Corp (7203.T), Hyundai had initially championed fuel cell technology as the future of eco-friendly vehicles but has found itself shifting el...

17 Aug 10:52 AM 0 Read More...

Wisconsin lawmakers debate billions in incentives for Foxconn plant

(Reuters) - The Wisconsin State Assembly on Thursday will consider a $3 billion incentive package for a proposed liquid-crystal display factory by Taiwan's Foxconn, the first vote on the deal by a chamber of the state's Republican-controlled legislature. Foxconn, an electronics manufacturer formally known as Hon Hai Precision Industry Co Ltd, hopes to open a $10 billion plant in 2020 at a 1,000-acre site in southeas...

17 Aug 10:01 AM 0 Read More...

Sixt CEO hints at car-sharing merger talks between BMW and Daimler

FRANKFURT (Reuters) - German carmakers Daimler and BMW may be in talks to combine their car-sharing services Car2Go and DriveNow, Sixt chief executive Erich Sixt, whose company owns part of DriveNow, hinted on Thursday. Asked whether Sixt was involved in merger talks with Daimler and BMW, he said: "At the last press conference I made clear that we are not involved. Today I can only say no comment. This is of course ...

17 Aug 9:56 AM 0 Read More...

China targets Alibaba's Taobao, other e-commerce sites, in VPN crackdown

BEIJING (Reuters) - Chinese authorities have issued a warning to the country's top e-commerce platforms, including Alibaba Holding Group Ltd's Taobao.com, over the sale of illegal virtual private networks that allow users to skirt state censorship controls. Five websites have been asked to carry out immediate "self-examination and correction" to remove vendors that sell illegal virtual private networks (VPNs), accord...

17 Aug 6:47 AM 0 Read More...

NAFTA talks must include discussion on fintech: Mexican negotiator

WASHINGTON (Reuters) - Talks to renegotiate the North American Free Trade Agreement (NAFTA) must include a discussion of new financial services, a Mexican negotiator said on Wednesday, singling out so-called fintech companies rapidly gaining ground in the region. Created 23 years ago, NAFTA includes Canada, Mexico and the United States and is being renegotiated at the behest of U.S. President Donald Trump who made a...

17 Aug 2:23 AM 0 Read More...

Internet firms shift stance, move to exile white supremacists

SAN FRANCISCO (Reuters) - Silicon Valley joined a swelling backlash against neo-Nazi groups in the United States on Wednesday as more technology companies removed white supremacists from their services in response to weekend violence in Charlottesville, Virginia. Social media networks Twitter Inc (TWTR.N) and LinkedIn, music service Spotify Ltd and security firm Cloudflare Inc were among the companies cutting off se...

17 Aug 12:57 AM 0 Read More...

Twitter shutters accounts of U.S. white supremacy website

SAN FRANCISCO (Reuters) - Twitter Inc on Wednesday suspended accounts linked to the neo-Nazi website Daily Stormer, keeping up pressure from Silicon Valley on white supremacists after weekend violence in Charlottesville, Virginia. Twitter said it would not discuss individual accounts, but at least three accounts affiliated with the Daily Stormer led to pages saying "account suspended." The San Francisco-based socia...

16 Aug 8:43 PM 0 Read More...