Technology News

Israel's Elbit on hunt for more takeovers

FARNBOROUGH, England (Reuters) - Israeli military electronics firm Elbit Systems, which has just completed two acquisitions in the United States and Israel, remains on the lookout for potential takeover targets in the United States and Europe, a top official said Wednesday. Ran Kril, executive vice president for international marketing and business development, told Reuters the company was looking to increase its pre...

18 Jul 7:21 PM 0 Read More...

U.S. tech enforcer says will read 'closely' EU statement on Google

WASHINGTON (Reuters) - The head of the U.S. Federal Trade Commission, which has investigated Alphabet’s Google in the past for abuse of web dominance, said on Wednesday he would take a close look at Europe’s recent decision to fine the company 4.34 billion euros ($5 billion). Speaking at a hearing in Capitol Hill, FTC Chairman Joseph Simons said he had spoken on Tuesday with EU antitrust chief, Margrethe Vestager...

18 Jul 6:25 PM 0 Read More...

Hyundai sets up showroom on Amazon

(Reuters) - Hyundai Motor Co said on Wednesday it will set up a showroom on Amazon.com that will help car buyers book test drives, check dealer inventories and compare pricing and reviews. The showroom will operate through Amazon Vehicles, a platform the world’s biggest online retailer launched in 2016, for users to research on cars, auto parts and accessories. In recent months, Amazon has deepened its partnership...

18 Jul 6:10 PM 0 Read More...

America Movil says AT&T-Time Warner deal will not change Latam market

MEXICO CITY (Reuters) - The CEO of America Movil, Latin America’s largest telecommunications company by subscriber numbers, said on Wednesday that AT&T Inc’s acquisition of Time Warner will do little to change the telecoms landscape in the region. U.S. telecoms company AT&T closed its deal to buy media company Time Warner for $85 billion last month. “I don’t think it’s going to affect the market in...

18 Jul 4:57 PM 0 Read More...

Google, hit with record $5 billion EU antitrust fine, to appeal

BRUSSELS (Reuters) - EU antitrust regulators hit Google with a record 4.34 billion euro ($5 billion) fine on Wednesday and ordered it to stop using its Android mobile operating system to block rivals, a ruling which the U.S. tech company said it would appeal. The penalty is nearly double the previous record of 2.4 billion euros which the company was ordered to pay last year over its online shopping search service. It...

18 Jul 4:31 PM 0 Read More...

EU's fine on Google is 'excellent decision': French government

PARIS (Reuters) - The French government said on Wednesday that it welcomed the record 4.34 billion euros ($5 billion) fine imposed on Google by European Union regulators, with a government spokesman describing it as an “excellent decision”. “No-one is above the laws that have been laid down in common for all, not Google, nor any other entity,” said government spokesman Benjamin Griveaux, who was addressing re...

18 Jul 3:43 PM 0 Read More...

Germany forces 1,050 Tesla owners to forgo electric car bonus

FRANKFURT (Reuters) - Germany has said 1,050 owners of the Tesla Model S must forgo a 2,000 euro electric car subsidy because the value of their vehicles surpasses an eligibility threshold. The Federal Office for Economic Affairs and Export Control said only vehicles costing 60,000 euros or less qualified for Germany’s “environmental bonus”, intended to encourage the purchase of electric cars. The Tesla Model ...

18 Jul 3:19 PM 0 Read More...

America Movil says still evaluating bid on Brazil's Cemig

MEXICO CITY (Reuters) - America Movil, Latin America’s largest telecoms firm by number of subscribers, said on Wednesday that it is still evaluating whether to participate in the sale of Brazil’s Cemig Telecom. The company, which is controlled by the family of Mexican billionaire Carlos Slim, reported on Tuesday a 94-percent drop in its second-quarter net profit due to currency-related swings. Reporting by Sheky...

18 Jul 3:01 PM 0 Read More...

Alibaba to buy minority stake in Focus Media to tap digital marketing

HONG KONG (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd (BABA.N) on Wednesday said it has agreed to acquire a minority stake in China’s Focus Media Information Technology Co Ltd (002027.SZ) to tap into the digital marketing sector. Alibaba will acquire about 6.62 percent in Focus Media for 9.63 billion yuan ($93.8 million) and possibly another 5.0 percent stake in the next 12 months, it said in ...

18 Jul 2:58 PM 0 Read More...

Google hit with record $5 billion EU antitrust fine

BRUSSELS (Reuters) - EU regulators hit Google (GOOGL.O) with a record 4.34 billion euros ($5 billion) antitrust fine on Wednesday for using its Android mobile operating system to squeeze out rivals. The penalty is nearly double the previous record of 2.4 billion euros which the U.S. tech company was ordered to pay last year over its online shopping search service. The fine represents just over two weeks of revenue fo...

18 Jul 11:21 AM 0 Read More...