Technology News

Pinterest valued at $12.7 billion in IPO, sign of tech demand after Lyft struggles

NEW YORK (Reuters) - Pinterest Inc’s initial public offering set the online scrapbook company’s valuation at $12.7 billion on Wednesday, above its expectations and a sign of strength for the tech IPO market after Lyft Inc’s struggles. Pinterest, where users save ideas for clothes, décor and recipes, is due to start trading on the New York Stock Exchange on Thursday. Its performance will be a key test of the te...

18 Apr 1:27 AM 0 Read More...

Samsung Galaxy Fold's screen malfunctions after a day, some reviewers say

NEW YORK (Reuters) - Samsung’s new Galaxy Fold, a splashy $1,980 phone that opens into a tablet, is malfunctioning for some journalist reviewers after only a day or two of use, according to posts on social media on Wednesday. The problem seems to be related to the unit’s screen either cracking or flickering, according to Twitter posts by technology journalists from Bloomberg, The Verge and CNBC who received the ...

17 Apr 9:44 PM 0 Read More...

EU parliament votes to fine internet firms for not removing extremist content quickly

STRASBROUG (Reuters) - The European parliament voted on Wednesday to fine firms like Facebook, Google and Twitter up to 4 percent of their turnover if they persistently fail to remove extremist content within one hour of being asked to do so by authorities. The measures have been brought into sharper focus since the live streaming on one of Facebook’s platforms of a lone gunman killing 50 people at two New Zealand ...

17 Apr 7:02 PM 0 Read More...

Uber nears investment deal for self-driving car unit: WSJ

(Reuters) - Uber Technologies Inc is nearing a deal with a group, including SoftBank Group Corp, to invest in its self-driving car unit to be valued at $7.25 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. SoftBank, Toyota Motor Corp and Japan-based auto-parts supplier Denso Corp are expected to invest a total of $1 billion as part of the deal, which could be announc...

17 Apr 6:45 PM 0 Read More...

Amazon to close domestic marketplace business in China: sources

SAN FRANCISCO/SHANGHAI (Reuters) - Amazon.com Inc plans to close its domestic marketplace business in China by mid-July, people familiar with the matter told Reuters on Wednesday, focusing efforts on its more lucrative businesses selling overseas goods and cloud services in the world’s most populous country. Shoppers in China will no longer be able to buy goods from other third-party merchants in the country, but t...

17 Apr 6:35 PM 0 Read More...

Facebook working on voice assistant to rival Amazon's Alexa: CNBC

(Reuters) - Facebook Inc is working on a voice assistant to rival the likes of Amazon.com Inc's Alexa, Apple Inc's Siri and Alphabet Inc's Google Assistant, CNBC reported here on Wednesday, citing several people familiar with the matter. The move is coming out of the company’s augmented reality and virtual reality group, a division that works on hardware, including the company’s virtual reality Oculus headsets, ...

17 Apr 6:28 PM 0 Read More...

U.S. advances review of Musk's Baltimore-Washington tunnel project

(Reuters) - The U.S. Transportation Department on Wednesday issued a draft environmental assessment for a Washington, D.C. to Baltimore tunnel that would carry passengers between the cities at high speeds in autonomous electric vehicles, the first step in a joint federal-state review of the Elon Musk project. Musk’s Boring Co has proposed a privately funded 35.3-mile “loop project” that would include twin under...

17 Apr 6:08 PM 0 Read More...

FCC chairman opposes China Mobile bid to provide U.S. services

(Reuters) - Federal Communications Commission chairman Ajit Pai said on Wednesday he opposes China Mobile Ltd’s bid to provide U.S. telecommunications services and that the commission will vote on whether to deny the application in May. “It is clear that China Mobile’s application to provide telecommunications services in our country raises substantial and serious national security and law enforcement risks,”...

17 Apr 5:38 PM 0 Read More...

EU lawmakers vote for wifi-based standard for connected cars

BRUSSELS (Reuters) - EU lawmakers on Wednesday backed a European Commission plan to promote the use of wifi technology in internet-connected cars, a standard which has the support of Europe’s largest carmaker Volkswagen. The EU executive wants to set benchmarks for internet connected cars, a market that could generate billions of euros in revenues for carmakers, telecoms operators and equipment makers according to ...

17 Apr 3:33 PM 0 Read More...

New U.S. venture capital fund launched with focus on blockchain; $50 million funding

NEW YORK (Reuters) - Proof of Capital, a U.S. venture capital fund, was launched on Wednesday with funding of $50 million, its founders said in a statement. The fund will invest in blockchain projects. Blockchain, which first emerged as the system powering bitcoin, is a shared database maintained by a network of computers connected to the internet. In a separate email to Reuters, the fund said the $50-million invest...

17 Apr 3:05 PM 0 Read More...