Technology News

Yelp's top investor says shares could surge to $55-$65

(Reuters) - SQN Investors LP said on Wednesday Yelp Inc’s shares could surge to between $55 and $65, up to 80 percent above its current price, if the customer review company appoints new board members and considers selling itself. SQN, one of the biggest shareholders in Yelp with more than 4 percent stake, said investors “must seize opportunity” to refresh board with three new directors, including stockholder r...

16 Jan 3:12 PM 0 Read More...

Exclusive: India's e-commerce curbs could hit online sales by $46 billion by 2022 - PwC draft analysis

NEW DELHI (Reuters) - India’s new foreign investment restrictions for its e-commerce sector, which includes giants such as Amazon.com Inc and Walmart-owned Flipkart, could reduce online sales by $46 billion by 2022, according to a draft analysis from global consultants PwC seen by Reuters. Under the changes, e-commerce firms in India will from Feb. 1 not be able to sell products via companies in which they have an ...

16 Jan 2:53 PM 0 Read More...

Snap shares hit by second CFO exit in a year

(Reuters) - Shares of Snap Inc fell 9 percent in early trading on Wednesday after Tim Stone became the second finance chief to leave the Snapchat operator in a year since a much-criticized redesign. Stone joined the owner of Snapchat last May after spending two decades with Amazon.com Inc, replacing Andrew Vollero, who was responsible for taking Snap public in 2017. Several Wall Street analysts termed Stone’s depar...

16 Jan 2:03 PM 0 Read More...

Infor gets $1.5 billion more in funding ahead of planned IPO

(Reuters) - Cloud technology company Infor Inc said on Wednesday it received an investment of $1.5 billion from shareholders Koch Equity Development LLC and private equity firm Golden Gate Capital. The funding builds on Koch Equity’s investment of more than $2 billion in early 2017. Infor said it is considering a potential IPO in 2019 or 2020, subject to market conditions. New York-based Infor helps firms automate ...

16 Jan 1:41 PM 0 Read More...

Pokemon Go creator Niantic raises $245 million at $4 billion valuation

(Reuters) - Pokemon Go creator Niantic Inc said on Wednesday it had raised $245 million in a new round of financing bringing its valuation to nearly $4 billion. The Series C financing round was led by IVP with additional strategic investments from aXiomatic Gaming, Battery Ventures, Causeway Media Partners, CRV, and Samsung Ventures, the company said. Niantic and Warner Bros Interactive Entertainment said in November...

16 Jan 12:14 PM 0 Read More...

From client to competitor: China's rise prompts German rethink

BERLIN (Reuters) - As a golden era for its exporters fades, Germany is scrambling to secure its interests in Beijing, but China’s transformation from customer to competitor is forcing Europe’s largest economy to make changes at home. China has been crucial to Germany’s recent expansion, sucking in German cars and industrial goods to create the infrastructure that has allowed it to grow into the world’s second...

16 Jan 7:11 AM 0 Read More...

On the autofarm: China turns to driverless tractors, combines to overhaul agriculture

Xinghua, China (Reuters) - A brand new combine harvester buzzes up and down a field in eastern China without a driver on board, chopping golden rice stalks and offering a glimpse of what authorities say is the automated future of the nation’s mammoth agricultural sector. The bright green prototype was operating last autumn during a trial of driverless farm equipment as the government pushes firms to develop within ...

16 Jan 5:53 AM 0 Read More...

Exclusive: Facebook brings stricter ads rules to countries with big 2019 votes

SAN FRANCISCO (Reuters) - Facebook Inc told Reuters on Tuesday that it would extend some of its political advertising rules and tools for curbing election interference to India, Nigeria, Ukraine and the European Union before significant votes in the next few months. As the largest social media service in nearly every big country, Facebook since 2016 has become a means for politicians and their adversaries to distrib...

16 Jan 5:04 AM 0 Read More...

Verizon deepens ties with Apple, offers free Apple Music to some U.S. customers

(Reuters) - Verizon Communications Inc (VZ.N) said on Tuesday it will include free Apple Music subscriptions in some of its top-tier U.S. data plans, deepening its ties with the iPhone maker. Apple Inc (AAPL.O) is increasingly turning for growth to its services segment, which includes businesses such as iCloud storage, Apple Music and the App Store, and has been partnering with rivals in recent months. Two weeks ago,...

16 Jan 1:57 AM 0 Read More...

Industry must rein in spend on electric, self-driving cars: Magna CEO

DETROIT (Reuters) - Global automobile and auto parts makers which want to capitalize on electric and autonomous vehicles need to cut back investments and forge more partnerships instead, the chief executive of global parts supplier Magna International said Tuesday. Over the next decade, vehicle and parts suppliers plan to spend $300 billion to bring electric cars to the mass market, Magna CEO Don Walker said, a huge ...

16 Jan 12:08 AM 0 Read More...