Technology News

Qorvo joins other Apple suppliers in cutting forecast

(Reuters) - Apple supplier Qorvo Inc (QRVO.O) cut its third-quarter forecast for profit and revenue on Tuesday, joining a handful of suppliers to the iPhone maker that have warned of an earnings hit due to lower demand from a major customer. Qorvo, which supplies radio frequency chips to Apple, said the forecast cut was due to “recent demand changes for flagship smartphones.” Analysts told Reuters on Monday that...

13 Nov 3:38 PM 0 Read More...

Exclusive: German officials raise 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 3:12 PM 0 Read More...

Amazon to announce investments in NY, Virginia, Nashville: source

WASHINGTON (Reuters) - Amazon.com Inc is announcing on Tuesday a major investment in Nashville, Tennessee along with confirming it is adding two new headquarters in New York and northern Virginia, a person briefed on the matter said. Nashville will be home to Amazon’s new East Coast hub of operations, adding 5,000 new corporate jobs, the source said. Press events are planned to announce the investments in all three...

13 Nov 2:32 PM 0 Read More...

Flipkart CEO Bansal resigned after sexual misconduct claim: source

(Reuters) - The investigation into Flipkart Group chief Binny Bansal that led to his resignation on Tuesday stemmed from an allegation of sexual assault that dates back a few years, a person familiar with the matter told Reuters. “In late July ... an allegation came to us. It was a claim of sexual assault against Binny,” the source said, adding the individual concerned was a former Flipkart associate who was not ...

13 Nov 1:41 PM 0 Read More...

Telecom Italia ousts CEO in boardroom tussle

(Reuters) - Italian phone group Telecom Italia (TIM) sacked Chief Executive Amos Genish while he was away on business in Asia on Tuesday, ousting a man viewed by some directors as an obstacle to their campaign for a more aggressive shake-up at the company. Genish was appointed last year to run the underperforming former monopoly by TIM’s then controlling shareholder, French media group Vivendi, but since then direc...

13 Nov 1:33 PM 0 Read More...

Walmart India venture Flipkart loses CEO to misconduct probe

(Reuters) - The head of Walmart Inc’s (WMT.N) Indian venture Flipkart Group, Binny Bansal, has resigned following a probe into “serious personal misconduct”, a shock to the U.S. retailer’s efforts to compete with Amazon in India’s huge consumer market. Bansal, 37 and one of the most high profile of India’s new generation of young, tech-savvy billionaires, has strongly denied the allegations, Walmart said....

13 Nov 1:15 PM 0 Read More...

China says U.S. controls on semiconductor firm break WTO rules

GENEVA (Reuters) - The U.S. decision to cut off a Chinese state-backed chipmaker from U.S. suppliers amid allegations the firm stole intellectual property breaks World Trade Organization rules and aims to protect a U.S. monopoly, China told a WTO meeting on Tuesday. The meeting took place with the world’s top two economies already locked in a trade dispute and tit-for-tat tariff war. Last month the U.S. Commerce D...

13 Nov 12:49 PM 0 Read More...

Foxconn posts rise in third-quarter profit, lagging estimates

TAIPEI (Reuters) - Taiwan’s Foxconn posted a weaker than expected rise in quarterly profit amid warning signs from key customer Apple Inc and its global suppliers that demand for iPhones could be softening. Foxconn, formally known as Hon Hai Precision Industry Co Ltd, reported net profit of T$24.88 billion ($805.52 million) for the third quarter on Tuesday, 12 percent short of analyst expectations. While this w...

13 Nov 11:56 AM 0 Read More...

German government has set aside around 3 billion euros for artificial intelligence: report

BERLIN (Reuters) - The German government has set aside around 3 billion euros for artificial intelligence “made in Germany” up to 2025, a media outlet reported on Tuesday. Newspaper network RND cited a paper that the German cabinet is due to agree on Thursday as the source for the information. Reporting by Michelle Martin; Editing by Thomas Seythal...

13 Nov 11:19 AM 0 Read More...

Germany needs crisis mentality to close digital gap: Merkel ally

BERLIN/FRANKFURT (Reuters) - Germany’s thriving economy has lulled the country into a false sense of security that is hindering government efforts to close a digital technology gap with other leading economies, Chancellor Angela Merkel’s digital czar said on Tuesday. Merkel’s cabinet is holding a retreat on Wednesday and Thursday, after which it wants to present an artificial intelligence (AI) strategy to help ...

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