Technology News

Apple confirms deal to buy music discovery app Shazam

SAN FRANSICO (Reuters) - Apple Inc (AAPL.O) on Monday confirmed it had reached a deal to acquire Shazam Entertainment Ltd, the U.K.-based app that lets users identify songs by pointing a smart phone at the audio source. Apple did not give a price for the acquisition. Technology news website TechCrunch reported the deal on Friday with a price of as much as $400 million, far short of the most recent $1 billion valuatio...

11 Dec 5:56 PM 0 Read More...

UBS leads blockchain data reporting pilot ahead of new EU rules

ZURICH/NEW YORK (Reuters) - Financial companies led by Swiss bank UBS (UBSG.S) are testing a blockchain platform to help them comply with new European Union trade data standards due to come into force next year. Blockchain, the technology underpinning cryptocurrencies such as bitcoin, is a shared and immutable database maintained by a network of computers on the internet. The more stringent requirements are part of t...

11 Dec 4:37 PM 0 Read More...

Hotly anticipated bitcoin futures ease off after 22 percent surge

NEW YORK/SYDNEY/LONDON (Reuters) - Bitcoin futures eased back from an initial surge of almost 22 percent to trade up 13 percent on Monday, in an eagerly awaited U.S. market debut that backers hope will confer greater legitimacy on the volatile cryptocurrency and lead to its wider use. Although bitcoin futures were already offered on some unregulated cryptocurrency exchanges outside the United States, the Chicago-base...

11 Dec 12:21 PM 0 Read More...

Uber's London license appeal to be heard next year

LONDON (Reuters) - Uber [UBER.UL] will defend its right to operate in London in court next year after the app was deemed unfit to run a taxi service and stripped of its license in its most important European market. Regulator Transport for London (TfL) shocked the Silicon Valley firm by rejecting its license renewal bid in September, citing its approach to reporting serious criminal offences and background checks on ...

11 Dec 12:17 PM 0 Read More...

EU must look at regulating bitcoin, ECB's Nowotny says

VIENNA (Reuters) - The European Union needs to consider regulating bitcoin, European Central Bank ratesetter Ewald Nowotny said on Monday, citing the risk of money laundering. The cryptocurrency has surged from $1,000 at the start of the year to above $16,000, and its futures jumped more than 20 percent to a high of $18,700 in their U.S. debut on Sunday night. The steep gains have prompted many to question its real ...

11 Dec 12:15 PM 0 Read More...

Apple aims to block climate, rights proposals with quick use of SEC guidance

BOSTON (Reuters) - Apple Inc (AAPL.O) is pushing back on shareholder proposals on climate issue and human rights concerns, an effort activists worry could sharply restrict investor rights. In letters to the U.S. Securities and Exchange Commission last month, an attorney for the California computer maker argued at least four shareholder proposals relate to “ordinary business” and therefore can be left off the prox...

11 Dec 12:07 PM 0 Read More...

China Telecom earmarked as Philippines' 3rd telecoms player: Manila officials

MANILA (Reuters) - State-run China Telecom Corp could become the Philippines’ third telecoms player, officials of the Southeast Asian nation said on Sunday, as the government looks to stir up competition in an effort to boost notoriously poor services. Philippines President Rodrigo Duterte last month offered China the “privilege” of challenging a longstanding duopoly that has frustrated consumers because of slo...

11 Dec 12:04 PM 0 Read More...

Exclusive: Hong Kong fund tells Toshiba that chip unit sale to Bain group not necessary

TOKYO (Reuters) - A Hong Kong-based activist investor in Toshiba Corp (6502.T) has told the embattled conglomerate that the $18 billion sale of its chip unit to a Bain Capital-led group is no longer necessary after its recent capital injection, according to a letter seen by Reuters. Argyle Street Management Ltd, a hedge fund with $1.2 billion under management, sent the letter to Toshiba’s board late on Monday, Chie...

11 Dec 11:40 AM 0 Read More...

Apple, India wrangle over import tax on mobile parts: sources

NEW DELHI (Reuters) - Apple Inc (AAPL.O) has asked India to defer a planned increase in import taxes on mobile phone parts so it can expand its iPhone manufacturing in the country, but the government is unlikely to accede, people familiar with the matter said. The U.S. technology giant has been in talks with Indian officials for months, seeking “pre-requisites” - government tax breaks and incentives - for expandi...

11 Dec 10:21 AM 0 Read More...

Nokia's COO quits after eight months in the job

HELSINKI (Reuters) - Nokia said its chief operating officer will leave the telecom network equipment maker, which is struggling in the face of a shrinking market and tough competition, after just eight months in the job. COO Monika Maurer will be replaced by Joerg Erlemeier, currently a senior vice president for Nokia Transformation, effective immediately, the Finnish company said on Monday. Maurer was promoted to gr...

11 Dec 10:18 AM 0 Read More...