Technology News

Altice USA CEO calls for fixed-wireless consolidation in the U.S.

BARCELONA (Reuters) - Altice USA Chief Executive Officer Dexter Goei called on Wednesday for the consolidation of fixed and wireless telecoms businesses in the United States. Altice USA owns the fourth-biggest cable operator in the United States and is the sister company of Altice Europe - both controlled by Franco-Israeli tycoon Patrick Drahi. “I’m a big believer in fixed-wireless consolidation,” Altice USA...

14 Nov 2:50 PM 0 Read More...

Uber sees opportunity for minibus service in Kenyan capital

NAIROBI (Reuters) - Uber Technologies may roll out a new service in Kenya to help users book seats on minibuses that ply the streets of the congested capital, if tests on the product in Egypt and Mexico prove successful, a company executive said on Wednesday. Uber estimates that more than a third of Kenyans in Nairobi use the often crowded minibuses, known as matatus, as their main form of transport around the city, ...

14 Nov 12:45 PM 0 Read More...

Ford, Walmart to collaborate on designing automated-vehicle delivery

MIAMI (Reuters) - Ford Motor Co (F.N), Walmart Inc (WMT.N) and delivery service Postmates Inc will collaborate to design a service for delivering groceries and other goods to Walmart customers that could someday use autonomous vehicles, the companies said on Wednesday. The project is the latest to grow out of Ford’s broader effort to develop businesses that could use automated delivery vehicles. Ford was working wi...

14 Nov 12:39 PM 0 Read More...

Bain Capital Ventures closes $1 billion fund amid venture fund-raising frenzy

SAN FRANCISCO (Reuters) - Bain Capital Ventures, the venture capital division of the eponymous Boston-based investment firm, said it has raised a new $1 billion fund to invest in startups, adding to a year of big-dollar fund-raising by tech investors. Bain Capital Ventures, which has backed LinkedIn and Jet.com, told Reuters that $650 million would go into a fund used mostly for early-stage investments, backing young...

14 Nov 12:36 PM 0 Read More...

Tencent profit beats estimates as investment gains offset gaming weakness

HONG KONG (Reuters) - Tencent Holdings (0700.HK) said on Wednesday its third-quarter net profit rose 30 percent, beating estimates, as investment gains offset a weak performance in the Chinese company’s core gaming business. Net profit at China’s biggest gaming and social media group in the July-September quarter rose to 23.3 billion yuan, compared with an average estimate of 19.32 billion yuan, according to 15 ...

14 Nov 11:44 AM 0 Read More...

Exclusive: Snap reveals U.S. subpoenas on IPO disclosures

NEW YORK (Reuters) - The U.S. Justice Department and Securities and Exchange Commission have subpoenaed Snap Inc (SNAP.N) for information about its March 2017 initial public offering, the social media app maker told Reuters on Tuesday. Snap said in a statement it has responded to the government subpoenas and other requests for information. The previously unreported federal inquiries follow an ongoing shareholder laws...

14 Nov 2:57 AM 0 Read More...

Amazon picks New York City, Washington D.C. area for new offices

SAN FRANCISCO/WASHINGTON (Reuters) - Amazon.com Inc (AMZN.O) picked America’s financial and political capitals for massive new offices on Tuesday, branching out from its home base in Seattle with plans to create more than 25,000 jobs in both New York City and an area just outside Washington, D.C. The world’s largest online retailer plans to spend $5 billion on the two new developments in Long Island City and Arli...

14 Nov 12:32 AM 0 Read More...

Cloud security firm Netskope raises $169 million , valuation tops $1 billion

NEW YORK (Reuters) - Cloud-security firm Netskope said on Tuesday it has raised $169 million in a deal that will help fund global expansion and pushed its valuation over $1 billion. Chief Executive Officer Sanjay Beri, who last year raised $100 million and said he would never again seek funding, said he would use the proceeds to expand sales, research and development and data centers. “We initially didn’t set ou...

13 Nov 11:05 PM 0 Read More...

Brazil's Movile says it has raised $500 million for its iFood delivery app

SAO PAULO (Reuters) - Brazilian technology firm Movile on Tuesday said it had raised $500 million of fresh funds for its iFood app, aimed at making it one of the world’s biggest players in the meals delivery market. The money was raised among iFood’s current investors, including South African media group Naspers, which owns Movile, and Brazilian billionaire Jorge Paulo Lemann, said Movile founder and president E...

13 Nov 9:50 PM 0 Read More...

German officials sound China alarm as 5G auctions loom

BERLIN (Reuters) - Senior German officials are planning a last-ditch drive to convince the government to consider excluding Chinese firms such as Huawei from building the country’s 5G infrastructure amid concerns this could compromise national security. The behind-the-scenes push in Berlin, which comes after decisions by Australia and the United States to ban Chinese suppliers from 5G, has emerged at a late stage, ...

13 Nov 9:06 PM 0 Read More...