Technology News | Reuters

SoftBank clinches WeWork takeover deal, bailing out co-founder

SoftBank Group agreed to spend more than $10 billion to take over WeWork on Tuesday, doubling down on an ill-fated investment and giving a near $1.7 billion payoff to the U.S. office-space sharing startup's co-founder Adam Neumann to relinquish control.

Source: Reuters: Technology News | 24 Oct 2019 | 12:29 pm

WeWork's new chairman defends payouts to founder, says company will survive

WeWork's new Executive Chairman Marcelo Claure on Wednesday defended huge payouts to the office-sharing company's founder Adam Neumann and said there is now "zero risk of the company going bankrupt," according to an audio recording of a meeting he held with employees that was reviewed by Reuters.

Source: Reuters: Technology News | 24 Oct 2019 | 12:29 pm

Facebook's Zuckerberg grilled in U.S. Congress on digital currency, privacy, elections

Facebook Inc CEO Mark Zuckerberg conceded on Wednesday that the company's planned digital currency Libra was a "risky project," but sought to reassure skeptical U.S. lawmakers that it could lower the cost of electronic payments and open up the global financial system to more people.

Source: Reuters: Technology News | 24 Oct 2019 | 11:26 am

WeWork's Claure warns layoffs are coming

WeWork's new executive chairman Marcelo Claure wrote in a memo to employees on Wednesday that layoffs were in the works at the U.S. office-space sharing start-up following a $9.5 billion rescue financing deal with SoftBank Group Corp.

Source: Reuters: Technology News | 24 Oct 2019 | 10:35 am

WeWork plans to lay off 4,000 staff - FT

Office-sharing startup WeWork is planning to cut as many as 4,000 jobs as a part of a turnaround plan put in place by top shareholder Japan's SoftBank Group after it took control of the company this week, Financial Times reported on Wednesday.

Source: Reuters: Technology News | 24 Oct 2019 | 10:35 am

Google unveils quantum computer breakthrough; critics say wait a qubit

Alphabet Inc's Google said on Wednesday it had achieved a breakthrough in computing research by using a quantum computer to solve in minutes a complex problem that would take today's most powerful supercomputer thousands of years to crack.

Source: Reuters: Technology News | 24 Oct 2019 | 10:23 am

China factory production key as Tesla reports third-quarter results

Tesla Inc is conducting trial production runs at its new $2 billion China factory for the past several weeks and will sell some of the first cars from the plant to its employees, sources told Reuters.

Source: Reuters: Technology News | 24 Oct 2019 | 10:05 am

Explainer: Google hails 'quantum supremacy', but don't chuck out your PC just yet

Researchers at Google say they have achieved 'quantum supremacy', in which a computer harnessing the properties of sub-atomic particles did a far better job of solving a problem than the world's most powerful supercomputer.

Source: Reuters: Technology News | 24 Oct 2019 | 10:04 am

American drivers warming to self-driving cars - survey

About 40% of adult Americans drivers are leaning more to buying self-driving cars in the future as they look to snack, chat on their phone or catch up on email while the car drives itself, a survey by Adobe Analytics showed on Wednesday.

Source: Reuters: Technology News | 24 Oct 2019 | 8:24 am

U.S. tech firm Maxar taps startup's software for moon mission

(This October 22 story has been refiled to correct headline to say software rather than robotics, first paragraph to clarify that the Olis software would run on a Maxar robotic arm, paragraphs 2 and 3 to state that the robotic arm belongs to Maxar, and paragraph 4 to remove reference to Olis building the robotic arm)

Source: Reuters: Technology News | 24 Oct 2019 | 7:16 am

Intel files antitrust case against SoftBank-backed firm over patent practices

Chipmaker Intel Corp has filed an antitrust lawsuit against a SoftBank Group Corp-owned investment company alleging the firm stockpiled patents to hold up technology companies with numerous lawsuits.

Source: Reuters: Technology News | 24 Oct 2019 | 5:17 am

How will Amazon deliver in its second biggest market?

Every half an hour, 50 vans sweep into Amazon's distribution center in Mannheim, Germany and sweep out again with up to 200 parcels and a precise delivery plan in each.

Source: Reuters: Technology News | 24 Oct 2019 | 4:51 am

U.S. Justice Department bolsters antitrust staff to work on online platform probe

The Justice Department beefed up its online platform investigation team on Wednesday by adding Ryan Shores, formerly a partner with an international law firm, to help oversee its probe of Alphabet's Google, Facebook and other big tech firms.

Source: Reuters: Technology News | 24 Oct 2019 | 4:28 am

Russia's Yandex to test driverless cars in U.S. from next summer

Russian internet firm Yandex will begin testing its driverless cars in the United States next summer, the company said on Wednesday.

Source: Reuters: Technology News | 24 Oct 2019 | 3:51 am

Factbox: Facebook's cryptocurrency Libra and digital wallet Calibra

Facebook Inc revealed lofty plans to establish a cryptocurrency called Libra in June, but the project quickly ran into trouble with skeptical regulators around the world.

Source: Reuters: Technology News | 24 Oct 2019 | 3:45 am

SoftBank adds to financial burden with $10 billion WeWork deal

SoftBank Group Corp's financial strains escalated on Wednesday as it agreed to spend more than $10 billion to take over office-space sharing startup WeWork, knocking the Japanese tech conglomerate's already weakened shares.

Source: Reuters: Technology News | 24 Oct 2019 | 3:29 am

Honda brings forward goal to be fully electrified in Europe to 2022

Japanese carmaker Honda has brought forward a goal to only sell electric and hybrid cars in Europe by three years to 2022, a leading company executive said on Wednesday.

Source: Reuters: Technology News | 24 Oct 2019 | 3:23 am

Portugal plans auction of 5G frequencies next year

Portugal's telecommunications market regulator Anacom plans to hold an auction between April and June next year to allocate next-generation 5G frequencies to national operators, it said on Wednesday.

Source: Reuters: Technology News | 24 Oct 2019 | 2:45 am

Vodafone and MasMovil deny holding tie-up talks in Spain

Both Vodafone and MasMovil denied a report by the El Confidencial news website saying the Spanish mobile operator was working with Goldman Sachs to buy the British telecom's business in Spain for 6 billion euros ($6.67 billion).

Source: Reuters: Technology News | 24 Oct 2019 | 1:53 am

Factbox: In Germany, competition heats up between two logistics giants

Amazon is not only a major customer of logistics companies like Deutsche Post DHL, FedEx and UPS. It is a growing rival.

Source: Reuters: Technology News | 24 Oct 2019 | 1:19 am







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