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.
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.
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.
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.
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.
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.
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.
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.
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.
(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)
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.
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.
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.
Russian internet firm Yandex will begin testing its driverless cars in the United States next summer, the company said on Wednesday.
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.
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.
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.
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.
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).
Amazon is not only a major customer of logistics companies like Deutsche Post DHL, FedEx and UPS. It is a growing rival.