Date
24 January 2018

Business

  • Coinbase's valuation is likely to have doubled from US$1.6 billion as of August last year. Photo: Coinbase

    Bitcoin exchange Coinbase made US$1 bln revenue in 2017: report

    Jan 24, 2018 11:06am
    Coinbase, one of the largest platforms for buying and selling cryptocurrencies, has made US$1 billion in revenue last year, technology news website Recode reports, citing industry sources. The San Francisco-based virtual currency broker was only expected...
  • Google, which began selling ebooks in 2010, has introduced audiobooks to its online store because “our users are asking for them”. Photo: Bloomberg

    Google enters audiobook market in challenge to Amazon

    Jan 24, 2018 9:33am
    Alphabet Inc.’s Google has introduced audiobooks to its online store, making its smart speakers and virtual assistant more competitive with Amazon.com Inc.’s Echo devices and Alexa voice assistant, Reuters reports. Listening to audiobooks is among the...
  • An Apple executive introduces the HomePod voice-controlled speaker at an event in the US in this file picture from June 5, 2017. Photo: Reuters

    Apple to release HomePod speaker in three markets on Feb 9

    Jan 24, 2018 9:09am
    Apple will start taking online orders for its HomePod smart speaker on Friday in the United States, United Kingdom and Australia, with the release date set for February 9. The voice-controlled speaker, unveiled in June last...
  • Facebook will begin requiring organizations running election-related ads to confirm their identities. Photo: AFP

    Facebook buys Boston software firm that authenticates IDs

    Jan 24, 2018 8:57am
    Facebook Inc. is buying a software firm that specializes in authenticating government-issued identification cards, a step that may help the social media company learn more about the people who buy ads on its network, Reuters reports....
  • Tesla CEO Elon Musk could earn as much as US$55.8 billion in company stock and own more than a quarter of the electric car firm in the next decade if he hits all the targets in a new pay plan. Photo: Bloomberg

    Tesla plans massive stock rewards for Musk

    Jan 24, 2018 8:49am
    Tesla Inc.’s chief executive officer Elon Musk could earn as much as US$55.8 billion in company stock and own more than a quarter of the electric car firm in the next decade if he hits all...
  • Jerome Powell takes over as Federal Reserve chair with US monetary policy on a steady course toward gradually higher interest rates and a smaller balance sheet. Photo: Xinhua

    Senate confirms Powell to succeed Yellen as Fed chief

    Jan 24, 2018 8:46am
    The US Senate confirmed Federal Reserve governor Jerome Powell as the next head of the central bank, succeeding Janet Yellen, a move likely to provide continuity in US monetary policy with the economy growing now for...
  • Chief operating officer Sheryl Sandberg said Facebook will double the number of people working on safety and security to 20,000 by the end of the year. Photo: Reuters

    Facebook to hand privacy controls to users ahead of EU law

    Jan 24, 2018 8:27am
    Facebook will make it easier for its more than 2 billion users to manage their own data in response to a tough new European Union law that comes into force in May, Reuters reports, citing the...
  • Facebook invents the 'flick' time unit. Chris Horvath, a former architect with Facebook's Story Studio, wrote that he is excited to see his co-creation become 'a thing in the world'. Pics: Reuters/Chris Horvath Facebook page

    Facebook unveils ‘flick’, a new unit of time

    Jan 23, 2018 6:15pm
    Facebook has launched a new unit of time called “flick”. The virtual reality division of the social media giant created the unit, which is equivalent to precisely one 705,600,000th of a second, CNBC reports. It will...
  • Google is looking for ways to capture revenue from hundreds of millions of Android phone users in China. Photo: Reuters

    Why is Google seeking ties with Chinese tech firms?

    - Jan 23, 2018 2:03pm
    In March 2010, Google shut down its Chinese search engine and began redirecting traffic to its web servers in Hong Kong following a standoff with Chinese authorities over Internet censorship. Nearly eight years after that move,...
  • Following the departure of a key executive, Facebook CEO Mark Zuckerberg, pictured here during a trip to China in October 2017, appears to have suffered a setback in his efforts to woo Chinese officials. Photo: Facebook

    Facebook’s China whisperer leaves the company

    - Jan 23, 2018 11:06am
    Facebook’s lead liaison with Beijing, Wang-Li Moser, has left the company, complicating the social network’s effort to get a foothold in China’s huge internet market, according to reports. Moser, whose duties included setting up and presiding over negotiations...
  • Third-party payment platforms such as Alipay have already migrated to more profitable financial services from retail payment businesses. Photo: Bloomberg

    HK credit rating system needs to catch up with the times

    - Jan 23, 2018 11:03am
    The People’s Bank of China has accepted an application to set up a credit checking platform from a group called Xinlian, which is led by the National Internet Finance Association of China. This marks a milestone in the...
  • AI and automation have obvious implications for employment. But they will also affect the human mind. Photo: Reuters

    The stupid economy

    - Jan 23, 2018 9:56am
      Most discussions about the march of robotics and artificial intelligence (AI) have understandably concentrated on fears of massive job losses. But the implications of these technologies are actually far more terrifying. We have been brought...
  • Noble Group said it remains in talks with potential strategic parties and its creditors. Photo: Reuters

    Chinese group interested in buying Noble: Bloomberg

    Jan 23, 2018 9:38am
    A Chinese conglomerate has expressed interest in buying control of the troubled commodity trader Noble Group, Bloomberg reports, citing people familiar with the matter. Cedar Holdings Group, the largest private company in Guangzhou province, has reportedly...
  • News publishers are not being adequately rewarded for their content that is disseminated through social media, says Rupert Murdoch. Photo: Bloomberg

    Facebook must pay carriage fee to ‘trusted’ publishers: Murdoch

    Jan 23, 2018 9:11am
    Media tycoon Rupert Murdoch called on Facebook to pay “trusted” news publishers a carriage fee, similar to the model used by cable companies, suggesting that the social media giant cannot have a free ride on content...
  • The Ernst & Young study comes amid a cryptocurrency investing craze, with young companies raising hundreds of millions of dollars online to fund their projects. Photo: Bloomberg

    Over 10% of US$3.7 billion ICO proceeds stolen: Ernst & Young

    Jan 23, 2018 9:05am
    More than 10 percent of funds raised through “initial coin offerings” are lost or stolen in hacker attacks, Reuters reports, citing new research by Ernst & Young. The professional services firm analyzed more than 372 ICOs,...
  • After signing up more than half of all US broadband households, Netflix is building its customer base in 190 countries by spending billions on programming. Photo: AFP

    Netflix crosses US$100 billion market cap as subscribers surge

    Jan 23, 2018 8:47am
    Netflix Inc. snagged 2 million more subscribers than Wall Street expected in the final three months of last year, tripling profits at the online video service that is burning money on new programming to dominate internet...
  • The US government move punishes Samsung, which recently began washer production in South Carolina, and LG, which is building a washer factory in Tennessee. Photo: Bloomberg

    US slaps steep tariffs on imported washers, solar panels

    Jan 23, 2018 8:37am
    US President Donald Trump slapped steep tariffs on imported washing machines and solar panels, marking his first moves to erect trade restrictions under seldom-used trade laws that allow unilateral actions, Reuters reports. The decisions in the...
  • Following complaints from a consumer group about slowed down older iPhones, South Korean authorities are reported to have launched an investigation into Apple. Photo: Reuters

    S Korea prosecutors look into Apple iPhone slowdown

    Jan 22, 2018 6:26pm
    South Korean prosecutors have launched a probe into Apple to determine whether the company is guilty of planned-obsolescence practices in relation to older iPhone models, according to reports. Following up on a complaint lodged by a...
  • Thomas Lee Kwok-keung, general manager of the Hong Kong Productivity Council, says Industry 4.0 will allow human workers to take on more innovative tasks. Photo: Bloomberg/HKEJ

    Industry 4.0: HKPC urges manufacturers to embrace new technology

    - Jan 22, 2018 3:10pm
    In order to meet rising demand for customized smart products and services, Hong Kong manufacturers should migrate to “Industry 4.0″. What exactly is Industry 4.0? Thomas Lee Kwok-keung, general manager of the Hong Kong Productivity Council,...
  • Facebook wants to ensure that people get the skills they need to fully participate in the digital economy, says the firm’s COO Sheryl Sandberg. Photo: Bloomberg

    Facebook to open digital training centers in Europe

    Jan 22, 2018 9:15am
    Facebook announced plans to open three new centers in Europe to train people in digital skills, saying it aims to coach one million people in the region over the next two years. The social media giant...

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