Reuters - Technology Report

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Tuesday, November 21, 2017

Tencent's stellar share rally sees it surpass Facebook in market value

HONG KONG (Reuters) - Tencent Holdings Ltd has racked up some impressive gains this week - becoming the first Chinese firm to be worth more than $500 billion and surpassing Facebook to be the world's fifth-most valuable company.

SoftBank funding may spur Uber to re-think tough Southeast Asian market

SINGAPORE(Reuters) - SoftBank Group's multi-billion dollar investment in Uber Technologies Inc opens up the possibility of combining it with other ride-hailing assets the Japanese group owns in a consolidation of a rapidly growing business across Asia, industry sources say.

Phones for urns: Hong Kong turns to virtual reality to honor ancestors

HONG KONG (Reuters) - A lack of space for cemeteries in crowded Hong Kong clashes with the age-old Chinese tradition of reverence for one’s ancestors.

Bitcoin hits record high after smashing through $8,000 for first time

LONDON (Reuters) - Bitcoin hit a new record high on Monday after smashing through the $8,000 level for the first time over the weekend, marking an almost 50 percent climb in just eight days.

CBS warns of blackout in dispute with Dish

NEW YORK (Reuters) - CBS Corp said on Monday that satellite television provider Dish Network Corp could black out its programming, including holiday weekend sports events, if the companies fail to resolve a dispute over the fees Dish pays to carry its content.

Tencent on global path as it surpasses Facebook in valuation

HONG KONG (Reuters) - China's biggest social network and gaming firm Tencent Holdings, which last week reported forecast-beating quarterly results, is close to making Malaysia the first foreign country to roll out its WeChat ecosystem, an executive told Reuters.

Marvell Technology to buy rival chipmaker Cavium for $6 billion

(Reuters) - Chipmaker Marvell Technology Group Ltd said on Monday it would buy smaller rival Cavium Inc for about $6 billion, as it seeks to expand its wireless connectivity business in a rapidly consolidating semiconductor industry.

Volvo Cars to supply Uber with up to 24,000 self-driving cars

STOCKHOLM/SAN FRANCISCO (Reuters) - Uber plans to buy up to 24,000 self-driving cars from Volvo, marking the transition of the U.S. firm from an app used to summon a taxi to the owner and operator of a fleet of cars.

Uber fights proposed rule in Mexico's Cancun barring cash fares

MEXICO CITY (Reuters) - Uber Technologies Inc, which has been facing a wave of regulations in Latin America, is fighting proposed rules in Cancun that the ride-hailing service says could drive it out of the top Mexican beach resort.

Bipartisan Harvard panel recommends hacking safeguards for elections

SAN FRANCISCO (Reuters) - A bipartisan Harvard University project aimed at protecting elections from hacking and propaganda will release its first set of recommendations today on how U.S. elections can be defended from hacking attacks.