Technology News

Apple shares drop after iPhone supplier Lumentum cuts forecast

(Reuters) - Apple Inc (AAPL.O) shares fell to their lowest in more than three months on Monday as the main supplier for its Face ID technology, Lumentum Holdings Inc (LITE.O), slashed revenue and profit forecasts, citing reduced orders from a major customer. Stoking fears among investors that demand for iPhones is waning, Lumentum said in its statement the customer was “one of our largest... for laser diodes for 3D...

12 Nov 3:53 PM 0 Read More...

France to 'embed' regulators at Facebook in fight against hate speech

PARIS (Reuters) - In the first move of its kind, Facebook will allow a small number of French regulators to “embed” inside the company and examine how the social media giant combats hate speech online, President Emmanuel Macron said on Monday. It is the first time the wary tech giant has opened its doors in such a way, following months of criticism over how it decides what is racist, sexist or hate-fuelled and th...

12 Nov 3:27 PM 0 Read More...

Icahn says VMWare should be worth $300 per share, cites Red Hat deal

(Reuters) - Carl Icahn said on Monday VMWare (VMW.N) should be worth $300 per share, the activist investor’s latest bid to scuttle Dell’s plan to go public by buying back shares tied to its interest in the software company. "Based on IBM's recent offer for Red Hat, a deal we believe should have a comparable valuation to a future VMWare deal, VMW should be worth $300 per share," Icahn said in a letter here. IBM C...

12 Nov 2:40 PM 0 Read More...

SoftBank seeks Deutsche's advice on Saudi power investments: sources

DUBAI (Reuters) - SoftBank has hired Deutsche Bank to advise on its power investment plans in Saudi Arabia, two sources familiar with the matter said. The Japanese firm, which is planning to invest in a giant solar power plant in the kingdom, has also shown interest in electricity distribution in the world’s top oil exporter, they said. One source said SoftBank could consider purchasing a minority stake in Saudi El...

12 Nov 2:28 PM 0 Read More...

SoftBank seeks hard cash in Japan telco IPO

TOKYO (Reuters) - SoftBank Group Corp (9984.T) has won approval to conduct a 2.4 trillion yen ($21.04 billion) initial public offering (IPO) of its Japanese telecoms business, in a deal that will seal the group’s transformation into a top global technology investor. The following are details of the planned IPO. WHY IS SOFTBANK DOING THIS? SoftBank Group has shifted its focus from being mainly a Japanese telecoms op...

12 Nov 10:57 AM 0 Read More...

Germany wants binding deal on EU digital tax at December meeting

BERLIN (Reuters) - German Finance Minister Olaf Scholz said he favors getting a binding deal on a European Union digital tax at a meeting of EU finance ministers in December and that he supported the French model. “If the negotiations continue the way that they have been going, we’ll still be in talks in 100 years. That is why I support the French model and want to offer the proceeds to the EU,” news weekly Der...

12 Nov 10:37 AM 0 Read More...

Digitalization can save oil upstream business $73 billion a year: Woodmac

LONDON (Reuters) - Energy firms could save an annual $73 billion within five years in oil and gas exploration and production by making better use of existing computing technology, energy consultancy Wood Mackenzie said. Exploration and production, known as the upstream industry, requires energy firms to analyze huge amounts of seismic and geological data and to monitor and maintain offshore platforms and other comple...

12 Nov 8:06 AM 0 Read More...

French minister Le Maire insists EU is close to digital tax deal

PARIS (Reuters) - French Finance Minister Bruno Le Maire said on Monday that a European Union plan to tax big internet firms such as Google and Facebook was close to being struck, despite several EU governments having pushed back against the idea. “We are close to having a deal in our hands,” Le Maire told France Inter radio. He said he was confident the German government would help France reach an agreement with...

12 Nov 7:25 AM 0 Read More...

Japan's SoftBank steps closer to transformation with $21 billion mobile IPO

TOKYO (Reuters) - SoftBank Group Corp’s (9984.T) domestic telecoms unit on Monday received approval to list on the Tokyo Stock Exchange through one of the biggest-ever initial public offerings (IPO) at 2.4 trillion yen ($21.04 billion), a regulatory filing showed. The unit, SoftBank Corp, will list on Dec. 19, the filing with the Ministry of Finance showed. The IPO will mark the transformation of the parent from a ...

12 Nov 7:23 AM 0 Read More...

Russian cybersecurity firm Group IB to open global HQ in Singapore: CEO

MOSCOW (Reuters) - Russian cybersecurity company Group IB is to open a global headquarters in Singapore this year or in early next as part of international expansion plans, Chief Executive Ilya Sachkov said. Sachkov, 32, is a co-founder of the Moscow-based company which was set up in 2003 and focuses on investigating high-tech crimes and online fraud. Its clients include banks, energy companies, telecom firms rangin...

12 Nov 6:38 AM 0 Read More...