12 December 2018


  • Google CEO Sundar Pichai testifies at a House Judiciary Committee hearing in Washington on Tuesday. Photo; Reuters

    Google has no plans ‘right now’ for China search engine: Pichai

    Dec 12, 2018 9:14am
    Google has “no plans” to relaunch a search engine in China though it is continuing to study the idea, Chief Executive Sundar Pichai told a US congressional panel on Tuesday. “Right now, there are no plans...
  • The US initial public offering values Tencent Music at US$21.3 billion. Photo: Bloomberg

    Tencent Music raises nearly US$1.1 billion in US share offering

    Dec 12, 2018 9:02am
    China-based music streaming company Tencent Music Entertainment Group has raised close to US$1.1 billion in its US initial public offering (IPO) after pricing its shares at the bottom of its targeted range, Reuters reports, citing two...
  • An artist's sketch of Huawei CFO Meng Wanzhou attending her B.C. Supreme Court bail hearing in Vancouver on Monday. Photo: Reuters

    Canadian court grants bail to Huawei executive

    Dec 12, 2018 7:50am
    A Canadian court has granted bail to a top executive of Huawei Technologies Co. Ltd. while she awaits a hearing for extradition to the United States, Reuters reports. Meng Wanzhou, 46, Huawei’s chief financial officer and...
  • Nokia was the fastest growing smartphone brand in the third quarter, posting a 71 percent year-on-year growth. Photo: Reuters

    Can Nokia recover lost glory in smartphone market?

    - Dec 11, 2018 1:56pm
    While Apple and Samsung Electronics are battling for the top position in the global smartphone market, Nokia, one of the oldest players in the business, is making a relatively low-key comeback with a series of Android...
  • Zhejiang will spend 120 billion yuan (US$17.5 billion) in the next five years to “boost high-tech and internet companies as well as medical research and development”. Photo: Xinhua

    Zhejiang pledges billions to drive technology, innovation

    Dec 11, 2018 1:53pm
    China’s coastal province of Zhejiang, home to e-commerce giant Alibaba, has pledged more than US$17 billion to drive the tech industry and innovation in the coming five years, the state news agency Xinhua reported. The plan...
  • Google has checks and balances in place to guard against bias in its search offerings, CEO Sundar Pichai reiterated. Photo: Bloomberg

    Google CEO defends ‘integrity’ of products ahead of testimony

    Dec 11, 2018 9:21am
    Google’s chief executive on Monday defended the integrity of the company’s products a day ahead of a congressional hearing where he is expected to face tough questions from US lawmakers. In written testimony to the House Judiciary...
  • Apple is preparing to lodge an appeal against a Chinese court ruling for a ban on some iPhone sales amid a patent fight with Qualcomm. Photo: Reuters

    Qualcomm wins China ruling for ban on some iPhone sales

    Dec 11, 2018 9:10am
    Chipmaker Qualcomm said on Monday that it has won an order from a Chinese court banning the sale of several older Apple iPhone models in China due to two patent violations, Reuters reports. The preliminary order...
  • Verizon is ramping up investment in its next-generation 5G network, which it expects to fuel growth. Photo: Reuters

    Verizon to shed 10,400 jobs amid plans to boost 5G investment

    Dec 11, 2018 8:52am
    Verizon Communications Inc. said about 10,400 employees will be leaving the US wireless carrier by the middle of next year as part of the company’s voluntary separation program, Reuters reports. The New York-based company has been...
  • A Chinese visitor expresses support for Huawei outside the B.C. Supreme Court during the bail hearing of Huawei CFO Meng Wanzhou (inset) in Vancouver on Monday. Photo: Reuters

    Huawei executive seeks bail in US extradition case

    Dec 11, 2018 7:29am
    A Canadian provincial court was considering whether to grant bail to a top executive of one of the world’s biggest telecommunications companies, China’s Huawei Technologies, Reuters reports.  US prosecutors want chief financial officer Meng Wanzhou to...
  • SoftBank, which controls the world’s biggest tech private equity fund at nearly US$100 billion, will use the IPO proceeds to invest in startups. Photo: Bloomberg

    SoftBank’s record IPO reaches US$23.5 billion

    Dec 11, 2018 7:19am
    SoftBank Group Corp. is set to raise 2.65 trillion yen (US$23.5 billion) in Japan’s biggest-ever initial public offering, Reuters reports. Telco unit SoftBank Corp. priced its stock at 1,500 yen apiece, as previously indicated. It also...
  • Megvii’s latest fundraising comes amid Beijing’s plans to build a ubiquitous closed-circuit television surveillance network and become an international leader in artificial intelligence. Photo: Reuters

    AI start-up Megvii raising US$500 mln at US$3.5 bln valuation

    Dec 10, 2018 1:44pm
    Chinese artificial intelligence provider Megvii Inc., commonly known as Face++, is targeting to raise US$500 million in a new funding round that pegs the current valuation of the firm at US$3.5 billion, Reuters reports, citing people...
  • Electronic payments via Alibaba Group’s Alipay or Tencent Holdings’ WeChat have become increasingly popular in China. Photo: CNSA

    Rejecting physical cash is illegal, PBoC warns vendors

    Dec 10, 2018 11:47am
    China’s central bank on Monday warned that rejecting cash as a form of payment was illegal, saying such practices could eventually cause the loss of confidence in physical money and was unfair to those not accustomed...
  • Alibaba said the share purchase is a vote of confidence in the Hong Kong-listed film company. Photo: Reuters

    Alibaba takes control of film group in US$160 mln share purchase

    Dec 10, 2018 10:49am
    Alibaba Group Holding Ltd. said on Monday it will increase its stake in Hong Kong-listed Alibaba Pictures (01060.HK) to 51 percent, taking control of the film unit’s board, Reuters reports. Alibaba Pictures will issue one billion...
  • Ride-hailing services giant Uber is said to be keen to beat smaller rival Lyft in launching an IPO. Photo: Reuters

    Uber makes confidential filing for IPO: report

    Dec 10, 2018 9:13am
    Uber Technologies has filed paperwork for an initial public offering, Reuters reports, citing people with knowledge of the matter. The ride-hailing company filed the confidential paperwork on Thursday, moving in lock-step with its smaller US rival...
  • Facebook shares have tumbled more than 22 percent this year. Photo: Reuters

    Facebook to buy back additional US$9 billion of shares

    Dec 10, 2018 9:03am
    Facebook Inc. will buy back an additional US$9 billion of its shares as it looks to pacify investors following a slump in its stock, Reuters reports. The social media giant’s shares, which have tumbled more than...
  • Huawei chief financial officer Meng Wanzhou is accused of covering up her company’s links to a firm that tried to sell equipment to Iran despite sanctions. Photo: Reuters

    China says US should withdraw arrest warrant for Huawei CFO

    Dec 10, 2018 8:16am
    China’s foreign ministry summoned the US ambassador to lodge a “strong protest” over the arrest in Canada of Huawei Technologies Co. Ltd.’s chief financial officer, and said the United States should withdraw its arrest warrant, Reuters...
  • After being locked out of the US market and getting blocked from Australia's 5G rollout, Huawei and fellow Chinese telecom equipment vendor ZTE may face a setback in Japan. Photo: Reuters

    Japan govt may shun Huawei, ZTE equipment, report says

    Dec 7, 2018 4:26pm
    Japan plans to ban government purchases of equipment from Chinese telecom equipment makers Huawei and ZTE due to national security concerns, Reuters reports, citing sources. The move comes as Chinese tech firms are under intense scrutiny...
  • Tencent has set up a new business group to integrate its various cloud offerings and solutions. Photo: Reuters

    Why Alibaba and Tencent are reorganizing

    - Dec 7, 2018 11:35am
    China’s internet giant Tencent Holdings (00700.HK) announced recently that it will set up a new business group, Cloud & Smart Industries Group (CSIG), to integrate its cloud offerings and solutions covering retail, education, healthcare, transportation and...
  • IBM is offloading seven software products assets to India's HCL Technologies in a US$1.8 billion deal. Photo: Bloomberg

    IBM sells some of its software products business to India’s HCL

    Dec 7, 2018 9:37am
    International Business Machines Corp (IBM) is selling some of its software products business to Indian software services exporter HCL Technologies in a deal worth US$1.8 billion, Reuters reports. IBM will divest seven of its products, including...
  • Lyft was last valued at about US$15 billion in a private fundraising round in June this year.
Lyft, which was last valued at about US$15 billion in a private fundraising round, could go public as early as the first quarter of 2019. Photo: Bloomberg

    Ride-hailing services firm Lyft files for US IPO

    Dec 7, 2018 9:24am
    Ride-hailing services company Lyft has filed plans for an initial public offering in the United States, beating bigger rival Uber Technologies in making a move on that front. In a confidential filing with the US Securities...

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