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Saudi Crown Prince meets top South Korean business leaders during visit to Seoul

Wednesday, 26 June 2019

Saudi Arabia’s Crown Prince Mohammed bin Salman has met with the heads of South Korean companies Hyundai and SK Group during his state visit to Seoul. The Saudi Crown Prince met with Hyundai Group Vice President Chung Eui-sun, Hyundai Heavy Industries President Ka Sam-Hyun and Chairman of SK Group Chey Tae-won during the sideline meetings. During the meeting, they heads of the Hyundai companies discussed opportunities for mutual investments, especially regarding opportunities at King ...

Uber buys AI firm to advance push on autonomous cars

Wednesday, 26 June 2019

Uber said Wednesday it has acquired computer vision startup Mighty AI to help advance its technology for self-driving cars. Terms of the acquisition were not disclosed, but the ride-hailing giant said some 40 employees from the Seattle-based firm would join Uber’s advanced technology group developing plans for autonomous taxis. Mighty AI specializes in computer vision, a field within artificial intelligence that is used to better understand or “label” the surroundings of ...

Cryptocurrencies need close scrutiny, monitor warns

Tuesday, 25 June 2019

An international financial monitor warned world leaders on Tuesday that wider use by retail shoppers of cryptocurrencies like Libra, unveiled last week by Facebook, would need “close scrutiny” by regulators.The chief of the Financial Stability Board made the statement in a letter to the heads of state and government who will gather at the Group of 20 Summit on June 28-29 in Osaka, Japan.Finance officials are debating how to regulate cryptocurrencies after Facebook unveiled Libra, a ...

Russian, North American astronauts return to earth

Tuesday, 25 June 2019

The first crew to blast off to the International Space Station following a launch accident that deepened doubts over Russia’s space program returned to earth on Tuesday. NASA astronaut Anne McClain, veteran cosmonaut Oleg Kononenko of Roscosmos, and Canadian Space Agency record-holder David Saint-Jacques touched down on the Kazakh steppe at 0247 GMT.

Gates: Microsoft missed mobile dominance by ‘tiny’ margin

Tuesday, 25 June 2019

Microsoft missed its chance to be the dominant firm in mobile technology because it was “distracted” during a lengthy antitrust battle with US authorities, company co-founder Bill Gates said Monday. Gates, speaking at a forum in Washington, said Microsoft would be even more valuable if it had won the battle over operating software for mobile devices against Google and its Android platform. “We were in the field of doing operating systems for personal computers. We knew that ...

India asks scooter, bike makers to draw up plan for EVs

Saturday, 22 June 2019

India’s federal think-tank has asked scooter and motorbike manufacturers to draw up a plan to switch to electric vehicles, days after they publicly opposed the government’s proposals saying they would disrupt the sector, two sources told Reuters. Niti Aayog officials met with executives from companies including Bajaj Auto, Hero MotoCorp and TVS late on Friday, giving them two weeks to come up with the plan, according to one of the executives. The think-tank, which is chaired by ...

US blacklists five Chinese groups working in supercomputing

Saturday, 22 June 2019

The United States is blacklisting five Chinese organizations involved in supercomputing, calling them national security threats and cutting them off from critical US technology. The move Friday by the US Commerce Department could complicate talks next week between President Donald Trump and his Chinese counterpart, Xi Jinping, aimed at de-escalating a trade dispute between the world’s two biggest economies. Commerce is putting five Chinese organizations, including supercomputer maker Sugon ...

Nissan grants Renault execs boardroom seats, ending dispute

Friday, 21 June 2019

Japan’s Nissan said on Friday it would grant alliance member Renault’s representatives seats on key committees of its board, ending a dispute between the two automakers.Nissan said it will give Renault Chief Executive Thierry Bollore a seat on its board’s audit committee and Renault Chairman Jean-Dominique Senard a seat on its nomination committee. Senard will also become vice-chairman of the board.The move comes after demands by Senard for representation on the committees in ...

Apple says US tariffs on China would backfire

Friday, 21 June 2019

Apple is warning the US administration that proposed tariffs on Chinese imports would be counterproductive, saying they would hurt the iPhone maker’s competitiveness and “tilt the playing field” to non-American rivals.In comments filed this week to the US Trade Representative, Apple said the tariff proposal by President Donald Trump would hurt Apple’s ability to compete and also end up reducing the tech giant’s contributions to the US economy in taxes and ...

Activists urge Google to break up before regulators force it to

Wednesday, 19 June 2019

Shareholder activists on Wednesday urged Google parent Alphabet Inc to break itself up before regulators force the world’s biggest internet ad seller to split into different pieces. SumOfUs, a US-based group that aims to curb the growing power of corporations, presented the proposal at Alphabet's annual shareholder meeting at an auditorium at the company’s offices in Sunnyvale, California. Sonamtso, a campaigns director for Students for a Free Tibet who goes by one name, said at ...

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