Technology News

Tesla junk bond spreads widens to a record after big loss

(Reuters) - Investors are demanding a record risk premium for holding Tesla Inc’s $1.8 billion junk bond after the electric car maker posted a $700 million first-quarter loss and signaled it may be in the market for more capital soon. The price on Tesla’s 5.3% note due August 2025 slipped, nudging its yield to the highest in about six months at 8.51% in European trading. Its spread, the measure of the premium in...

25 Apr 12:26 PM 0 Read More...

UK minister: Huawei leaks 'unacceptable', criminal investigation possible

LONDON (Reuters) - British culture minister Jeremy Wright said on Thursday he could not rule out a criminal investigation over the “unacceptable” disclosure of confidential discussions on the role of China’s Huawei Technologies in 5G network supply chains. Huawei, the world’s biggest producer of telecoms equipment, is under intense scrutiny after the United States told allies not to use its technology because...

25 Apr 11:22 AM 0 Read More...

Volkswagen to build electric vehicle plant with JAC in China: local government

BEIJING (Reuters) - German automaker Volkswagen AG’s joint venture with China’s Anhui Jianghuai Automobile Co (JAC) plans to invest 5.06 billion yuan ($750.83 million) in a new electric car factory in the eastern Chinese city of Hefei, according to local authorities. A document posted online by the Hefei Economic and Technological Development Area on Monday showed that Volkswagen and JAC had obtained approval fro...

25 Apr 10:09 AM 0 Read More...

Britain will not use high-risk vendors in critical parts of 5G networks: minister

GLASGOW, Scotland (Reuters) - Britain will not consider high risk equipment vendors in security critical parts of its next-generation 5G networks, Cabinet Office minister David Lidington said on Thursday. Sources told Reuters on Wednesday Britain’s National Security Council had decided this week to bar China’s Huawei Technologies from all core parts of the 5G network and restrict its access to non-core parts. Rel...

25 Apr 9:41 AM 0 Read More...

SoftBank invests in Alphabet business for cellphone antennas in the sky

SAN FRANCISCO (Reuters) - A SoftBank Corp subsidiary said on Wednesday it had invested $125 million in an Alphabet Inc company that is working to fly cellphone antennas high in the atmosphere to provide internet in areas that are difficult to reach. SoftBank’s HAPSMobile, which has also been trying to fly networking equipment at high altitudes to provide high-speed internet to areas that are out of range of land to...

25 Apr 8:01 AM 0 Read More...

Nokia plunges to surprise quarterly loss, shares slump

HELSINKI (Reuters) - Finnish telecom network equipment maker Nokia plunged to a surprise quarterly loss due to a delay in booking 5G payments and said on Thursday the security dispute surrounding rival Huawei was creating near-term pressure to invest. Shares in the company fell 10 percent to their lowest level in six months as Nokia said it also expected pressure in the second half of the year. The company said a fa...

25 Apr 7:58 AM 0 Read More...

Spotify loses access to major Indian label

BENGALURU (Reuters) - Music streaming service Spotify Technology SA said it will remove all songs belonging to one of India’s oldest record labels from its app after they failed to agree on licensing terms, months after the Swedish company’s launch in the country. According to a court document, Saregama India Ltd filed a petition with the Delhi High Court seeking an injunction against Spotify to stop it from usin...

25 Apr 7:27 AM 0 Read More...

Japan's Zozo sees profit recovering this year after bodysuit blunder

TOKYO (Reuters) - Japanese online fashion retailer Zozo Inc said it expects its profit to recover in the current fiscal year, after booking its first-ever annual drop in earnings on a failed experiment with bespoke tailoring and clashes with fashion brands. But Zozo’s results also show its liabilities mounting and cash position dwindling, underscoring worries about the finances of the company that runs the popular...

25 Apr 7:21 AM 0 Read More...

Panasonic may upgrade Japan plant to make advanced Tesla batteries: source

TOKYO (Reuters) - Panasonic Corp may upgrade one of its battery plants in Japan to produce advanced-format battery cells for Tesla Inc if needed by the U.S. electric vehicle (EV) maker, a person familiar with the matter told Reuters on Thursday. Panasonic, currently the exclusive battery cell supplier for Tesla, produces cells for the EV maker at their joint plant in the U.S. state of Nevada - the so-called Gigafacto...

25 Apr 3:32 AM 0 Read More...

SoftBank invests $125 million in Alphabet venture to put cellphone antennas in the sky

SAN FRANCISCO (Reuters) - A SoftBank Corp business seeking to find a way to fly cellphone antennas high in the atmosphere to provide internet in underserved areas said on Wednesday it was investing $125 million in an Alphabet Inc spinoff working on the same problem. SoftBank’s year-old HAPSMobile and Alphabet’s Loon, which spun out last July from the research incubator of the Google parent, separately have been t...

25 Apr 2:33 AM 0 Read More...