17 September 2019


  • Sony says semiconductor business will be a crucial growth driver for the company in the years to come. Photo: Bloomberg

    Sony rejects US hedge fund’s call to spin off chip business

    Sep 17, 2019 6:09pm
    Sony said on Tuesday that it has rejected a call by Daniel Loeb’s activist hedge fund Third Point to spin off the firm’s semiconductor business. The company is of the view that retaining the operations “is...
  • A buyout of Bitauto will allow Tencent to boost its holding in the online automobile retail platform Yixin Group indirectly. Photo: Reuters

    What’s driving Tencent’s privatization bid for Bitauto?

    - Sep 17, 2019 3:11pm
    Crisis brings opportunity. Many years ago, investors learnt a painful lesson after betting heavily on the so-called new economy stocks that subsequently proved toxic amid a sharp slide in the post-IPO performance. Now, the game seems...
  • A Softbank unit will take on the Vivint name after the integration of the home automation firm. Photo: Bloomberg

    Blackstone-backed Vivint Smart Home to merge with SoftBank unit

    Sep 17, 2019 9:43am
    Vivint Smart Home Inc, a home automation company backed by Blackstone Group, on Monday agreed to merge with a company funded by a unit of Japan’s SoftBank Corp, Reuters reports. The merger will create a firm...
  • Apple is mounting a legal challenge over a European Commission order to pay billions of dollars in Irish back taxes. Photo: Reuters

    Apple to begin legal fight over 13 bln euro EU tax order

    Sep 17, 2019 9:34am
    Apple will launch a legal challenge on Tuesday to a European Commission order to pay 13 billion euros (US$14.4 billion) in Irish back taxes in a landmark case in the EU’s crackdown on tax avoidance by...
  • Adam Neumann, 40, is under pressure to proceed with the IPO to raise cash to keep WeWork’s operations going. Photo: Reuters

    WeWork IPO spells rough landing for CEO Neumann

    Sep 16, 2019 9:12am
    Adam Neumann showed he can capitalize on troubled times a decade ago, tapping into demand for workspace by those forced out of jobs in the aftermath of the financial crisis to grow WeWork into a global...
  • Washington is believed to have told its allies in the Persian Gulf region to think carefully before using Huawei equipment in 5G networks. Photo: Reuters

    US flags Huawei 5G network security concerns to Gulf allies

    Sep 13, 2019 9:28am
    The United States has flagged concerns with its Gulf allies over a possible security risk in using Huawei’s technology for 5G mobile infrastructure, Reuters reports. “We shared a … message about the importance of securing 5G...
  • Google pays little tax in most European countries because it reports almost all sales in Ireland. Photo: Bloomberg

    Google to pay US$1 bln in France to settle fiscal fraud probe

    Sep 13, 2019 9:26am
    Google agreed to pay close to 1 billion euros (US$1.10 billion) to French authorities to settle a fiscal fraud probe that began four years ago in a deal that may create a legal precedent for other...
  • Tim Cook speaks at Apple’s annual fall event at the firm’s headquarters in Cupertino, California, on September 10. Photo: Reuters

    Apple’s fall event: It’s more than just about new iPhones

    - Sep 12, 2019 1:35pm
    Apple held its annual fall event on Tuesday, taking the lid off new products and services and aiming to generate excitement in the market ahead of the crucial holiday season.  As expected by many industry observers,...
  • Zozo’s founder Yusaku Maezawa will step down as CEO after selling most of his stake in the firm to Yahoo Japan. Photo: Reuters

    Yahoo Japan to buy control of online fashion retailer Zozo

    Sep 12, 2019 11:15am
    Yahoo Japan said on Thursday that it aims to buy 50.1 percent stake in online fashion retailer Zozo for about 400 billion yen (US$3.7 billion), Reuters reports. Zozo founder Yusaku Maezawa will sell around 30 percent...
  • California Governor Gavin Newsom has backed a legislative push that will make it harder for firms such as Uber and Lyft to classify workers as independent contractors. Photo: Bloomberg

    California Senate passes bill to tighten ‘gig’ worker rule

    Sep 12, 2019 9:17am
    The California State Senate voted on Tuesday to pass a bill that would make it much more difficult for gig economy companies like Uber and Lyft to classify workers as independent contractors rather than employees, Reuters...
  • WeWork may seek a US$15-18 billion valuation in an IPO, down from the US$47 billion value it commanded in a private fundraising round in January, according to a report. Photo: Reuters

    WeWork pursues IPO despite SoftBank call for delay: report

    Sep 11, 2019 11:00am
    Office-sharing startup WeWork is said to be pressing ahead with plans for an initial public offering despite calls by the firm’s largest private investor, Japan’s SoftBank Group, to delay the share sale due to valuation concerns. The...
  • Facebook's Libra cryptocurrency project is facing growing scrutiny from regulators around the world. Photo: Reuters

    FATF chief says closely monitoring Facebook’s Libra

    Sep 11, 2019 9:53am
    The Financial Action Task Force (FATF), the global anti-money laundering watchdog, is closely monitoring developments on Facebook’s planned Libra cryptocurrency, the agency’s new chief said on Tuesday. “We want to make sure that if there are significant...
  • Phil Schiller, Apple’s Senior Vice President of Worldwide Marketing, presents the new iPhone 11 Pro at an event in Cupertino, California, on Tuesday. Photo; Reuters

    Apple unveils triple-camera iPhone; cheaper streaming TV service

    Sep 11, 2019 9:01am
    Apple on Tuesday unveiled its latest product lineup which included a triple-camera iPhone, and also announced a new streaming TV service priced at US$5 a month, undercutting Disney and Netflix. The long-awaited Apple TV+ streaming television...
  • Huawei said it failed to get a full explanation from the US over an ‘arbitrary and unlawful’ detention of some equipment for two years. Photo: Reuters

    Huawei drops lawsuit against US over seized equipment

    Sep 10, 2019 3:57pm
    Huawei Technologies has dropped a lawsuit against the US government after Washington released telecoms equipment it had seized on suspicion of violations of export controls, Reuters reports. The Chinese firm, which has been placed on a...
  • China Telecom has entered into a co-build and co-share pact with Unicom for 5G infrastructure. Photo: Reuters

    China Telecom, Unicom team up on 5G network

    Sep 10, 2019 11:11am
    State-owned telecom operators China Telecom and China Unicom have entered into a partnership in relation to 5G mobile network infrastructure in an initiative that will help cut costs. The companies said in separate statements on Monday that...
  • Under Jack Ma’s leadership, Alibaba has grown to become Asia’s most valuable listed company, with a current market capitalization of US$460 billion. Photo: Reuters

    End of an era as Alibaba chairman Jack Ma steps down

    Sep 10, 2019 10:36am
    Alibaba Group chairman Jack Ma was due to step down from the Chinese firm on Tuesday, leaving his handpicked successor a daunting task of steering the US$460 billion juggernaut at a time when the market for...
  • Huawei has described a US case against a Chinese professor linked to the firm as another example of ‘selective prosecution’. Photo: Reuters

    US charges Chinese professor in Huawei-linked case

    Sep 10, 2019 10:14am
    US prosecutors have charged a Chinese professor with fraud for allegedly taking technology from a California company to benefit Huawei, Reuters reports. Bo Mao was arrested in Texas on Aug. 14 and released six days later...
  • A US judge has faulted Facebook for treating privacy as an 'all-or-nothing' proposition, where users would forfeit their privacy by sharing data. Photo: Reuters

    US judge allows Facebook privacy class-action suit to proceed

    Sep 10, 2019 9:37am
    A federal judge in the United States on Monday ordered Facebook to face most of a nationwide lawsuit seeking damages for letting third parties access users’ private data, Reuters reports. While dismissing some claims, US District...
  • Texas Attorney General Ken Paxton speaks during a news conference in Washington on Monday as he announces an antitrust probe into Google. Photo: Bloomberg

    US states launch antitrust probe of Google

    Sep 10, 2019 9:21am
    Attorneys general from 48 US states, the District of Columbia and Puerto Rico formally opened an antitrust probe on Monday into Google, Reuters reports. Texas Attorney General Ken Paxton, who is leading the probe, was quoted...
  • Apple said it is working with its contract manufacturing partner Foxconn to resolve an issue pertaining to temporary workers in China factories. Photo: Reuters

    Apple, Foxconn admit to over-reliance on temp workers in China

    Sep 9, 2019 3:43pm
    Apple and its manufacturing partner Foxconn on Monday refuted allegations of lapses in people management, but admitted that they employed too many temporary workers in China factories, Reuters reports. Apple said it investigated the percentage of...