Technology News

Grubhub quarterly profit falls as costs swell

LOS ANGELES (Reuters) - Grubhub Inc’s first-quarter net income tumbled 78 percent after it ramped up spending to attract and retain restaurant partners and delivery customers. GrubHub, which is battling startups ranging from DoorDash and Uber Eats to Amazon.com Inc’s Amazon Restaurants, has swept up more than a half-dozen companies since its April 2014 initial public offering and has been spending aggressively ...

25 Apr 8:18 PM 0 Read More...

Intel forecasts weak second quarter, cuts full-year outlook

(Reuters) - Chipmaker Intel Corp INTC.O forecast current-quarter revenue below analysts’ estimates and cut full-year outlook on Thursday, sending its shares down 7 percent and sparking worries that an industry-wide slowdown could persist until the end of 2019. The company cut its 2019 revenue forecast to $69 billion, from the $71.5 billion it told investors to expect when it last reported earnings in January. The ...

25 Apr 8:14 PM 0 Read More...

T Mobile, Sprint face new FCC questions on tie-up

WASHINGTON (Reuters) - T-Mobile US Inc and Sprint Corp executives this week urged senior U.S. regulators to approve the proposed tie-up, saying the combined company would have the incentive to slash prices, according to a filing on Thursday. At the meeting Wednesday, Federal Communications Commission officials questioned company executives about such issues as “submitted economic modeling, including how it is conse...

25 Apr 7:55 PM 0 Read More...

U.S. adds another China e-commerce site to 'notorious' IP blacklist

(Reuters) - The United States on Thursday added China’s third-largest e-commerce platform to its list of “notorious markets” for violations of intellectual property rights and kept China on its priority watch list for piracy and counterfeiting concerns. The U.S. Trade Representative’s Office placed Pinduoduo.com, which USTR described as third largest by number of users, on its blacklist of commercial marketpl...

25 Apr 7:03 PM 0 Read More...

U.S. adds another Chinese e-commerce site to 'notorious' IP blacklist

(Reuters) - The United States on Thursday added China’s third-largest e-commerce platform to its list of “notorious markets” for violations of intellectual property rights and kept China on its priority watch list for piracy and counterfeiting concerns. The U.S. Trade Representative’s Office placed Pinduoduo.com, which USTR described as third largest by number of users, on its blacklist of commercial marketpl...

25 Apr 5:02 PM 0 Read More...

Snap hires McDonald's executive as first marketing head

(Reuters) - Snapchat parent Snap Inc on Thursday named McDonald’s marketing head Kenny Mitchell as its first chief marketing officer, as the company seeks to attract new users to its platform. Prior to his role at McDonald’s, Mitchell served as head of consumer engagement at Gatorade. Mitchell, who will lead all consumer and product marketing programs at Snap, will also be part of its senior leadership team and r...

25 Apr 2:20 PM 0 Read More...

New capital for Tesla will come at a cost

(Reuters) - A capital raise for Tesla Inc will not come cheap and Chief Executive Officer Elon Musk must finally prove to investors that he can produce and deliver Model 3s and higher margin electric cars on time, Wall Street analysts said on Thursday. After unveiling a $700 million loss in the first quarter, Musk conceded on Wednesday evening that he needed to pull in more capital for the car world’s highest pro...

25 Apr 2:12 PM 0 Read More...

U.S. firm Genesis says it loaned more than $1.5 billion in cryptocurrency

NEW YORK (Reuters) - Cryptocurrency dealer Genesis Global Trading said on Thursday it loaned digital assets valued at $1.53 billion to institutional borrowers in the year since it launched its lending business in March 2018, an indication of demand for the emerging lending market for cryptocurrencies. Institutional borrowers such as hedge funds and other financial firms have used crypto assets to short digital curren...

25 Apr 1:11 PM 0 Read More...

Less to lose: Germany's poorer East embraces tech revolution

JENA, Germany (Reuters) - From the 12th floor of Jenoptik’s headquarters, chief executive Stefan Traeger points to his laser factory and the university that provides it with talent. Welcome to “Optics Valley” - a role model for Germany’s East in a big year for the region. Three elections in eastern states this autumn are focusing the minds of Chancellor Angela Merkel and her allies, who want to win over vote...

25 Apr 12:59 PM 0 Read More...

UK government launches leak inquiry over Huawei discussions: report

LONDON (Reuters) - Britain’s government has launched a leak inquiry over the disclosure of confidential discussions about the role of China’s Huawei Technologies in 5G network supply chains, according to the PoliticsHome website. The National Security Council had decided to bar Huawei from all core parts of the country’s 5G network and restrict its access to non-core parts, sources told Reuters on Wednesday. Th...

25 Apr 12:28 PM 0 Read More...