Date
19 August 2019

Industries

  • Broadcom's push to software came after a failed attempt last year to buy mobile chipmaker Qualcomm for US$117 billion. Photo: Reuters

    Broadcom to buy Symantec enterprise unit for US$10.7 billion

    Aug 9, 2019 8:42am
    Chipmaker Broadcom Inc. said it will buy antivirus software maker Symantec Corp.’s enterprise security unit for US$10.7 billion in cash to scale up its software business through deals, Reuters reports. Shares of Symantec rose 3.6 percent...
  • Uber’s net loss, up from a loss of US$878 million a year earlier, reflected US$3.9 billion of stock-based compensation expenses related to its IPO earlier this year. Photo: Reuters

    Uber loses US$5 billion, misses Wall Street targets

    Aug 9, 2019 8:22am
    Uber Technologies Inc. reported a US$5.2 billion loss and revenue that fell short of Wall Street targets on Thursday as growth in its core ride-hailing business slowed, sending its shares down 6%. Uber’s net loss, up...
  • The court decision exposes Facebook to billions of dollars in potential damages to the Illinois users who brought the case. Photo: AFP

    Facebook loses facial recognition appeal, must face privacy suit

    Aug 9, 2019 8:02am
    A federal appeals court rejected Facebook Inc.’s effort to undo a class-action lawsuit claiming that it illegally collected and stored biometric data for millions of users without their consent, Reuters reports. The 3-0 decision from the...
  • China’s per capita coffee consumption is about six cups a year, compared to 400 in Japan and 300 in South Korea, Nestle said. Photo: Reuters

    Nestle starts selling Starbucks-branded coffee in China

    Aug 8, 2019 2:05pm
    Food giant Nestle on Thursday started selling Starbucks-branded coffee in mainland China, Reuters reports. Nestle last year paid US$7.15 billion for exclusive rights to sell the US chain’s coffees and teas globally, and began selling Starbucks-labelled...
  • Apple is implementing changes to its mobile operating system to restrict a feature that messaging apps use to make voice calls over the internet. Photo: AFP

    Why Apple is curbing Facebook messaging apps

    - Aug 8, 2019 12:50pm
    Last month, it was reported that Apple had allowed contractors to listen to the responses of its virtual assistant Siri to users’ questions and commands for the purpose of improving the service. As to be expected,...
  • In trying to defend its business in the mainland, Yi Fang has alienated customers in Taiwan and Hong Kong. Photo: Facebook

    Politics a growing headache for firms operating in Greater China

    - Aug 8, 2019 10:41am
    Yi Fang Fruit Tea, a well-known tea brand from Taiwan, has angered netizens in Taiwan and Hong Kong after expressing support for the “one country, two systems” principle and condemning the anti-extradition bill protests in Hong...
  • A file picture shows Lisa Su, president and CEO of Advanced Micro Devices, speaking during a keynote session at the 2019 Consumer Electronics Show in Las Vegas on Jan. 9, 2019. Photo: Bloomberg

    AMD lands Google, Twitter as customers with new server chip

    Aug 8, 2019 9:33am
    Advanced Micro Devices AMD) on Wednesday released the second generation of its processor chip for data centers and said that it had landed Google and Twitter as customers, Reuters reports. The company’s latest generation of server...
  • FedEx said it is looking to serve more companies, including Amazon rivals. Amazon accounted for less than 1.3 percent of FedEx's revenue last year. Photo: Reuters

    FedEx ends ground delivery partnership with Amazon

    Aug 8, 2019 9:02am
    FedEx Corp. has confirmed it will terminate its contract with Amazon.com Inc. for small-package ground deliveries, as the online retailer focuses on building out its own delivery network, Reuters reports. The move by the US package...
  • Huawei has filed a lawsuit against the US government ban on federal purchases of telecommunications equipment from five Chinese companies. Photo: Reuters

    US government contractors get first look at Huawei ban

    Aug 8, 2019 8:36am
    The US agency responsible for government contracts released an interim rule for a ban on federal purchases of telecommunications equipment from five Chinese companies, including Huawei, Reuters reports. The ban is part of a broad US...
  • Symantec last month walked away from negotiations to sell itself to Broadcom over price disagreements, Reuters has reported. Photo: Reuters

    Broadcom in talks to buy Symantec enterprise business: report

    Aug 8, 2019 8:23am
    Chipmaker Broadcom Inc. is in advanced talks to buy Symantec Corp.’s enterprise business, Reuters reports, citing people familiar with the matter. Both the companies could not be immediately reached for comment. The deal could be worth...
  • Samsung hopes the Galaxy Note 10 will appeal to YouTubers and fans of social media. Photo: Reuters

    Samsung’s new Note takes on Huawei with improved camera features

    Aug 8, 2019 8:18am
    Samsung has unveiled a new version of the Galaxy Note smartphone with fast 5G network connection and improved camera features, hoping the premium model helps it revive slumping profit and widen the gap with struggling rival...
  • Eddie Yue, deputy chief executive of the Hong Kong Monetary Authority, will take over as the boss of the de facto central bank on October 1. Photo: Bloomberg

    HKMA’s incoming chief has big task at hand

    - Aug 7, 2019 6:56pm
    Local and foreign business chambers in Hong Kong issued statements recently calling on the government to take concrete action to defuse the ongoing political crisis. The suggestions included official withdrawal of the extradition bill and establishing...
  • SoftBank said its operating profit at Vision Fund rose 66 percent to 397.6 billion yen in the quarter to June. Photo: Bloomberg

    SoftBank Group profit beats estimates on Vision Fund gains

    Aug 7, 2019 3:38pm
    Japan’s SoftBank Group Corp. raked in a better-than-expected quarterly operating profit as it saw a leap in investing gains from its US$100 billion Vision Fund, Reuters reports. The group’s results have been increasingly volatile as founder...
  • Strengthened partnership with Universal Music Group will put Tencent in a stronger position to expand its music business overseas through the JOOX brand. Photo: Bloomberg

    How Tencent is upping its music business

    - Aug 7, 2019 2:01pm
    Internet giant Tencent Holdings, which operates the WeChat super-app among various online offerings, has signaled its aim to further consolidate its position in China’s music-streaming market and fend off rivals. The tech behemoth, which took its Tencent Music...
  • Google had been accused of exploiting loopholes in Apple’s Safari and Microsoft’s Internet Explorer browsers to help advertisers bypass cookie blockers. Photo: Bloomberg

    US appeals court voids Google ‘cookie’ privacy settlement

    Aug 7, 2019 10:01am
    A US federal appeals court struck down Google’s class-action settlement meant to resolve claims it invaded the privacy of millions of computer users by installing “cookies” in their browsers, but paying those users nothing for their...
  • Twitter said the data it might have used include a person’s country code, their engagement details with a particular ad and inferences made about the devices they use. Photo: Bloomberg

    Twitter says it may have used data for ads without user consent

    Aug 7, 2019 9:47am
    Twitter Inc. said it may have used data for personalized ads without a user’s permission due to issues with the microblogging website’s settings, Reuters reports. The company said it recently discovered those issues and fixed them...
  • Apple’s move will force Facebook to redesign its Messenger and WhatsApp apps, The Information report said. Photo: AFP

    Apple to restrict Facebook’s messaging apps feature: report

    Aug 7, 2019 9:27am
    Apple Inc. is making a change to its mobile operating system that will restrict a feature that apps like Facebook Inc.’s Messenger and WhatsApp use to make voice calls over the internet, The Information reports. The...
  • Mastercard said the acquisition will be complementary to Mastercard Send and Transfast technologies that deliver cross-border payments to bank accounts, mobile wallets and cards. Photo: Reuters

    Mastercard to buy part of payments firm Nets for US$3.19 billion

    Aug 7, 2019 8:53am
    Payments processor Mastercard Inc. said it is buying a majority of the corporate services businesses of Scandinavian payments group Nets for about 2.85 billion euros (US$3.19 billion), Reuters reports. The acquisition includes the clearing and instant...
  • With the card, Apple aims to draw in iPhone owners with 2 percent cash back on purchases with the Apple Pay service, no fees and an app to manage related finances. Photo: Reuters

    Apple, Goldman Sachs start issuing virtual credit cards

    Aug 7, 2019 8:37am
    Apple Inc. and Goldman Sachs Group Inc. rolled out a virtual credit card, which will help the iPhone maker diversify from device sales and also build out the Wall Street bank’s new consumer business, Reuters reports....
  • Disney CEO Bob Iger said the company was focused on integrating the Fox film and TV assets and using them with Disney’s businesses to move quickly into streaming video. Photo: Bloomberg

    Disney earnings miss forecasts on streaming media costs

    Aug 7, 2019 8:19am
    Walt Disney Co. reported a steeper earnings decline than Wall Street expected as the company poured money into its ambitious plunge into streaming media and began folding in assets purchased from Twenty-First Century Fox, Reuters reports....

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