Technology News

Google says will appeal EU fine

BRUSSELS (Reuters) - Google (GOOGL.O) said it will appeal against a record 4.34-billion-euro ($5.04 billion) fine levied by EU antitrust regulators on Wednesday over illegal restrictions on Android smartphone makers and mobile network operators. “Android has created more choice for everyone, not less,” Google spokesman Al Verney said. “A vibrant ecosystem, rapid innovation and lower prices are classic hallmarks...

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

Uber hires former adviser to David Cameron to lead lobbying in northern Europe

LONDON (Reuters) - Uber Technologies has hired an ex-adviser to former British prime minister David Cameron to lead the ride-hailing firm’s lobbying efforts in northern Europe, less than a month after the company won a reprieve to operate in London. The U.S. company has appointed Adam Atashzai as its head of policy for northern Europe, which includes the UK and countries in the Nordics and Benelux, an Uber spokes...

18 Jul 11:15 AM 0 Read More...

Google's antitrust cases in Europe

BRUSSELS - Alphabet unit Google (GOOGL.O) was hit with a record-breaking 4.34 billion euro ($5.04 billion) fine on Wednesday, topping the 2.4 billion euros it was ordered to pay in another case last year. EU antitrust regulators accused it of abusing the dominance of its Android smartphone operating system by blocking rivals. Below is a timeline of Google’s antitrust cases in Europe: 18 July 2018 - EU antitrust re...

18 Jul 11:13 AM 0 Read More...

Grab to set up artificial intelligence lab with Singapore university

SINGAPORE (Reuters) - Southeast Asia’s Grab is jointly investing S$6 million ($4.4 million) with the National University of Singapore to launch an artificial intelligence (AI) laboratory to help improve the efficiency and utilization of vehicles on its platform. The lab’s efforts will expand to research on challenges such as congestion in Southeast Asian cities, Grab and NUS said in a statement on Wednesday. The...

18 Jul 10:31 AM 0 Read More...

India's online ticketing portal BookMyShow raises $100 million funding

(Reuters) - Bigtree Entertainment Pvt Ltd, owner of online movie and events ticketing portal BookMyShow, on Wednesday said it has raised $100 million in its latest round of funding from a group of investors. The Series D funding was led by new player TPG Growth, while existing investors also participated. BookMyShow had raised about 8.30 billion rupees ($121.07 million) from previous rounds of funding. The company di...

18 Jul 9:12 AM 0 Read More...

Uber says it has invested $500 million in Mexico since 2013

MEXICO CITY (Reuters) - Uber Technologies Inc said on Tuesday that it has invested more than $500 million in Mexico since it launched there in 2013, underscoring the country’s importance to the ride-hailing firm as it faces new competition. The figure includes contributions to government-run mobility funds, “social responsibility” projects and unspecified security spending, it said. As Uber confronts regulato...

18 Jul 4:39 AM 0 Read More...

America Movil's second-quarter net profit plummets on currency losses

MEXICO CITY (Reuters) - Mexico’s America Movil, the largest telecommunications firm in Latin America by number of subscribers, saw its net profit slide 94 percent in the second quarter, hammered by currency-related swings. FILE PHOTO: The logo of America Movill is seen on a wall at the company's corporate offices in Mexico City, Mexico March 14, 2018. REUTERS/Carlos Jasso/File Photo The company, which is controlled...

18 Jul 12:52 AM 0 Read More...

TV streaming services overtake pay-TV in Britain: Ofcom

LONDON (Reuters) - The number of Britons subscribing to TV services like Netflix, Amazon and Sky’s NOW TV, has overtaken traditional satellite and cable TV for the first time, media regulator Ofcom said on Wednesday. FILE PHOTO: The Netflix logo is pictured on a television in this illustration photograph taken in Encinitas, California, U.S., January 18, 2017. REUTERS/Mike Blake/File PhotoThe shift in the way TV co...

17 Jul 11:27 PM 0 Read More...

America Movil net profit plummets in second quarter

MEXICO CITY (Reuters) - America Movil, Latin America’s largest telecommunications firm by number of subscribers, reported second-quarter net profit of 818 million pesos ($41.2 million), down 94.3 percent from the same period last year. FILE PHOTO: The logo of America Movill is seen on a wall at the company's corporate offices in Mexico City, Mexico March 14, 2018. REUTERS/Carlos Jasso/File Photo The company, which...

17 Jul 10:06 PM 0 Read More...

Toshiba may face renewed shareholder accounting claims: U.S. appeals court

(Reuters) - A U.S. appeals court gave investors in Toshiba Corp’s U.S.-listed securities another chance to show they suffered losses because the Japanese industrial conglomerate misled them about its internal controls before a 2015 accounting scandal. FILE PHOTO: A logo of Toshiba Corp is seen outside an electronics retail store in Tokyo, Japan, February 14, 2017. REUTERS/Toru Hanai/File Photo In a 3-0 decisio...

17 Jul 8:50 PM 0 Read More...