If there’s anything true about high tech, it’s that the big fortunes are made when a new technology disrupts an existing industry. The money to be made is greatest when 1) the industry being disrupted is bureaucratic and inefficient, and 2) the new technology transcends, rather than merely automates, the previous processes. Early in my […]
Google’s search engine dominance can seem invincible, but that doesn’t mean the search giant isn’t willing to pay billions to ensure it stays that way. Google will reportedly pay Apple $9 billion in 2018 and $12 billion in 2019 to remain as Safari’s default search engine, according to Business Insider. The report comes courtesy of […]
MOSCOW (Reuters) – Russia will spend about 10 billion roubles ($143 million) on its car demand support program in 2019, Industry and Trade Minister Denis Manturov was quoted as saying by the TASS news agency on Saturday. Reporting by Polina Devitt; Editing by Kevin Liffey Our Standards:The Thomson Reuters Trust Principles.
(Reuters) – Broadcom Inc (AVGO.O) plans to acquire U.S. business software company CA Inc (CA.O) in a $19 billion deal aimed at diversifying Broadcom beyond semiconductors, but Wall Street analysts were immediately skeptical. FILE PHOTO: A sign to the campus offices of chip maker Broadcom Ltd, who announced on Monday an unsolicited bid to buy […]
SINGAPORE (Reuters) – Toyota Motor Corp has agreed to invest $1 billion in Southeast Asian ride-hailing firm Grab as a lead investor in the company’s ongoing financing round, which was launched after it bought the regional business of Uber Technologies Inc [UBER.UL]. FILE PHOTO: A logo of Toyota Motor Corp is seen at the company’s […]
NEW YORK (Reuters) – FUSION, a Singapore-based crypto-finance start-up, has secured $12.3 billion in financial assets from three strategic partners that have committed to lock in those funds with the organization’s public blockchain platform, FUSION founder DJ Qian told Reuters. FILE PHOTO: Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on […]
HONG KONG (Reuters) – Chinese electric vehicle startup Nio has hired eight banks including Morgan Stanley (MS.N) and Goldman Sachs (GS.N) to work on a planned U.S. stock market listing this year worth up to $2 billion, people with knowledge of the matter told Reuters. Other banks are Bank of America Merrill Lynch (BAC.N), Credit […]
Sydney (Reuters) – Australia’s Aconex Ltd (ACX.AX) said on Monday it had received a A$1.56 billion ($1.2 billion), or A$7.80 in cash-per-share, buyout offer from U.S. software major Oracle Corp (ORCL.N), sending the target’s share price up 45 percent. Aconex said in a statement its directors unanimously recommended the offer, with shareholders of the cloud-based […]