Reuters - Technology Report

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Friday, July 28, 2017

Amazon plows ahead with high sales and spending; profit plunges

(Reuters) - Amazon.com Inc on Thursday reported a jump in retail sales along with a profit slump, as its rapid, costly expansion into new shopping categories and countries showed no sign of slowing.

Exclusive: Not Made in America - Wal-Mart looks overseas for online vendors

CHICAGO (Reuters) - Walmart.com, trailing Amazon.com Inc in the number of goods for sale on its website, is recruiting vendors in China and other countries to boost its online offerings in a pivot away from Wal-Mart's Made-in-America campaign.

China's Ofo in talks to raise $1 billion, led by SoftBank: sources

HONG KONG (Reuters) - Chinese startup Ofo is in talks to raise $1 billion in a new funding round led by Japan's SoftBank Group, people familiar with the matter said, in what would be the largest fund-raising in the nation's bike-sharing business.

Xiaomi gains new $1 billion loan to drive retail push, expansion overseas

SHANGHAI (Reuters) - Chinese smartphone maker Xiaomi Inc said on Friday it had signed a deal for a new $1 billion loan to accelerate its drive into brick-and-mortar stores and help a push overseas.

Sharp returns to first quarter profit on Foxconn's cost-cut drive, beats estimates

TOKYO (Reuters) - Japan's Sharp Corp reported its third consecutive quarter of net profit on Friday, staying on track to achieve its first annual profit in four years following a cost-cutting drive under Taiwanese owner Foxconn.

Flush times for hackers in booming cyber security job market

LAS VEGAS (Reuters) - The surge in far-flung and destructive cyber attacks is not good for national security, but for an increasing number of hackers and researchers, it is great for job security.

GM Cadillac chief outlines plan for fewer sedans, more electrics

DETROIT (Reuters) - The head of General Motors Co's Cadillac luxury division said on Thursday the brand will shrink its lineup of sedans and expand its offerings of sport utility vehicles and hybrid and electric vehicles in response to market shifts.

Digital currency start-ups shrug off SEC warning on fund raising

NEW YORK (Reuters) - Technology companies looking to raise money by issuing digital coins are moving forward with their plans despite a U.S. regulator's decision that their offerings may be subject to tough securities laws.

China's Baidu profit jumps as focus on mobile, AI narrows

(Reuters) - Chinese internet search engine provider Baidu Inc has reported a jump in quarterly earnings, recovering from a string of regulatory investigations last year, as sharpened focus on mobile and artificial intelligence (AI) services drives growth.

Hutchison's Drei buys Tele2 to rival Carlos Slim in Austria

VIENNA (Reuters) - Mobile firm Hutchison Drei Austria is buying landline-focused Tele2 from its Swedish owner for 95 million euros ($111 million) to create a rival to Mexican tycoon Carlos Slim's Telekom Austria.