Platform Executive

The full version of the article, along with thousands like it, can be found on the following page: Polish trial begins in Huawei-linked China espionage case An espionage trial involving a former Polish secret services agent and an ex-employee of Huawei begins in a Warsaw court today as some European nations consider whether to exclude the Chinese group's equipment from their 5G telecom networks. Poland arrested the two men in January 2019 on suspicion of spying for China, in a move that has ramped up international debate over the potential security risks of using Huawei equipment in communications networks. Huawei has repeatedly denied its equipment can be used for espionage by authorities in Beijing, but the US has been pressuring countries to ban it. In Europe, only the UK and Sweden have so far done so. Polish prosecutors allege that Wang Weijing, 39, using the cover of being a Huawei executive, spent more than seven years spying for China trying to bolster the company...

The full version of the article, along with thousands like it, can be found on the following page: Cyberpunk maker reports slump in profit amid Playstation delisting CD Projekt SA has reported that its profit fell by more than half in the first quarter from a year earlier as its flagship game, "Cyberpunk 2077," was kept off Sony's PlayStation Store, which a company official said will continue to impact results. "Cyberpunk 2077," featuring Hollywood star Keanu Reeves, was one of the most anticipated games last year. It was delayed three times, and after a bug-ridden premiere it has been delisted from Sony's PlayStation Store for more than five months. CD Projekt did not say how many units of "Cyberpunk 2077" it sold in the quarter. The company's chief financial officer, Piotr Nielubowicz, told a conference call that about 60% of first-quarter product sales came from Cyberpunk sales, without providing details. Analysts have said sales were ...

The full version of the article, along with thousands like it, can be found on the following page: Intel reiterates chip supply shortages could last several years The Chief Executive of Intel as said it could take several years for a global shortage of semiconductors to be resolved, a problem that has shuttered some auto production lines and is also being felt in other areas, including consumer electronics. Pat Gelsinger told a virtual session of the Computex trade show in Taipei that the work-and-study-from-home trend during the COVID-19 pandemic had led to a "cycle of explosive growth in semiconductors" that has placed huge strain on global supply chains. "But while the industry has taken steps to address near term constraints it could still take a couple of years for the ecosystem to address shortages of foundry capacity, substrates and components." Gelsinger had told The Washington Post in an interview in mid-April the shortage was going to take "a...

The full version of the article, along with thousands like it, can be found on the following page: Ethereum extends gains to rise 8%; bitcoin firms Cryptocurrency Ethereum extended gains to rise more than 8% on Monday to $2,587 but remained 40% below a record high of above $4,300 hit earlier this month. Larger rival Bitcoin also gained in its wake with the world's biggest and best-known cryptocurrency rising 3.7% to $36,977 in quiet trading with London and US markets shut for holidays. Bitcoin has been less volatile in recent days but is down by more than 35% this month, weighed by growing regulatory pressures on the sector. Latest positioning data for the week ended the 25th of May confirmed the trend with net short positions nearly doubling from the previous week, which was the smallest net short since late March last year. In the latest salvo against the cryptocurrency, Bank of Japan Governor Haruhiko Kuroda said much of the trading was speculative. His remarks followed C...

The full version of the article, along with thousands like it, can be found on the following page: Software maker Dye & Durham gets offer from management-led group Dye & Durham Ltd, a Canada-based cloud-based software vendor, has received a buyout offer from a management-led shareholder group worth about C$3.4 billion (approximately $2.8 billion), less than a year after its flotation on the Toronto Stock Exchange. The offer to take Dye & Durham private for C$50.5 per share represents a premium of roughly 23% to its closing price of C$40.99 on Friday, and is some seven times more than the price of C$7.50 set in last year's initial public offering. Shares of the company closed up 17.7% at C$48.24 on Monday. Dye & Durham said in a statement that a newly formed special committee of independent directors would explore and evaluate potential strategic alternatives, including a merger, the sale of the company or its parts, and the sale of some of its assets, among ot...

The full version of the article, along with thousands like it, can be found on the following page: US SEC charges five individuals involved in BitConnect lending program The US Securities and Exchange Commission said it has charged five individuals for promoting a global unregistered digital asset securities offering that raised over $2 billion from retail investors. BitConnect allegedly organized a global network of promoters through referral commissions and used the network to sell the securities without registering them as required by federal securities laws, the SEC said. The agency alleged Trevon Brown, Craig Grant, Ryan Maasen, and Michael Noble were among the promoters advertising to prospective investors through YouTube videos. Counsel for the individuals could not immediately be determined. The agency also charged Joshua Jeppesen, who represented the company at conferences and acted a liaison between BitConnect Bitcoin and promoters. Jeppesen's attorney did not res...

The full version of the article, along with thousands like it, can be found on the following page: Software provider Sprinklr reveals 19% jump in revenue in IPO filing Software start-up Sprinklr has made public its plans for a stock market listing in the United States, revealing a 19.3% rise in annual revenue. Sprinklr, which counts Microsoft Corp and McDonald's Corp as customers, provides software that helps its clients with marketing, advertising and customer engagement. The company reported total revenue of about $386.9 million in the year ended Jan. 31, while its annual net attributable loss widened to $41.2 million from $39.1 million. Total revenue for the three months ended April 30 rose 19.3% to about $111 million. Sprinklr began in 2009 in a spare bedroom in founder and CEO Ragy Thomas's house in New Jersey. The company now has over 2,000 employees globally, according to its website. It was valued at $2.7 billion after raising $200 million from private equity f...

The full version of the article, along with thousands like it, can be found on the following page: Wejo to go public, deal values auto data start-up at $800 million Auto data start-up Wejo, backed by General Motors Co, will go public through a reverse merger with blank-check company Virtuoso Acquisition Corp in a deal that values the UK company at $800 million including debt, the companies have said. The deal will raise $330 million in proceeds for Wejo, the companies said. That includes $230 million from Special-Purpose Acquisition Company (SPAC) Virtuoso and another $100 million referred to as Private Investment in Public Equity (PIPE). Wejo Chief Executive and founder Richard Barlow said institutional investors make up most of the PIPE, but declined to identify the firms involved. An additional $25 million could be raised within the next month as talks continue with other potential investors, he said. Investors in the PIPE include No. 1 US automaker GM , which previously inves...

The full version of the article, along with thousands like it, can be found on the following page: Amazon pressed for racial equity review after strong vote tally Amazon.com Inc should review how it is addressing racial justice and equity after a shareholder proposal on the topic won strong backing, New York state's top pension official said. A filing on Friday showed 44% of votes cast supported a call for a review of the company's impact on equity, diversity and other areas proposed by New York State Comptroller Thomas DiNapoli at Amazon's annual meeting on May 26, a high total for such a measure. DiNapoli said the measure would have received a majority but for the 14% stake held by CEO Jeff Bezos, a sign of investor dissatisfaction at the leading online retailer. "Shareholders sent a loud message to Amazon that they want the company to do more to address racial diversity, equity and inclusion. It's time for Amazon to listen to its investors," DiNapoli ...

The full version of the article, along with thousands like it, can be found on the following page: Microsoft says group behind SolarWinds hack now targeting government agencies The group behind the SolarWinds cyber attack identified late last year is now targeting government agencies, think tanks, consultants, and non-governmental organizations, Microsoft Corp has said. "This week we observed cyberattacks by the threat actor Nobelium targeting government agencies, think tanks, consultants, and non-governmental organizations", Microsoft said in a new blog entry . Nobelium, originating from Russia, is the same actor behind the attacks on SolarWinds customers in 2020, according to Microsoft. "This wave of attacks targeted approximately 3,000 email accounts at more than 150 different organizations", Microsoft said. While organisations in the US received the largest share of attacks, targeted victims came from at least 24 countries, Microsoft said. At least a qu...

The full version of the article, along with thousands like it, can be found on the following page: Achieved? Google executives’ appraisals sought in US antitrust case Lawyers for the Justice Department and Google have tangled over whether the company should hand over performance reviews of executives whom the government is considering calling as witnesses. In a pre-trial hearing, Kenneth Dintzer, speaking for the Justice Department, gave the example of an executive who might say in a self-assessment that Google has hit 85% market share in a certain area and his or her goal is to increase it. Dintzer stressed that the government did not want sensitive health or other personal information. John Schmidtlein, who argued for Google, said he found it hard to believe that a performance review would have information that would break open an antitrust case. He also said he had "never heard" of performance reviews being subpoenaed in an antitrust case. Judge Amit Mehta said that...

The full version of the article, along with thousands like it, can be found on the following page: Salesforce raises annual revenue, profit outlook Salesforce.com Inc raised its full-year forecast for revenue as well as profit, and reported quarterly revenue that beat analysts' estimates, following increased demand for its cloud-based software due to a pandemic-led shift to remote work. The company's shares rose 5.4% to $238 on Thursday in extended trading. Online software providers are reaping the benefits as many companies are continuing with the option of remote work even as vaccination rates rise in some countries like the United States. Salesforce agreed to buy Slack Technologies in December to provide a unified tech platform for businesses to connect their employees, customers and partners with each other and the apps they use, intensifying its competition against Microsoft Corp , whose Teams software is Slack's biggest rival. Salesforce raised its annual rev...

The full version of the article, along with thousands like it, can be found on the following page: US Senate advances sweeping tech bill taking aim at China The US Senate has advanced a sweeping package of legislation intended to boost the country's ability to compete with Chinese tech, as Congress increasingly seeks to take a tough line against Beijing. Senators voted 68-30 to end debate on the $250 billion US Innovation and Competition Act of 2021, or USICA, and move nearer to a final vote on the legislation. The desire for a hard line in dealings with China is one of the few truly bipartisan sentiments in the deeply divided US Congress, which is narrowly controlled by President Joe Biden's fellow Democrats. Senate Democratic Majority Leader Chuck Schumer, who co-wrote the USICA legislation, said the US spends less than 1% of gross domestic product on basic scientific research, less than half of what China does. "We have put ourselves in a very precarious position...

The full version of the article, along with thousands like it, can be found on the following page: Report: India’s Paytm targets $3 billion IPO Indian FinTech player Paytm is aiming to raise about 218 billion rupees (approximately $3 billion) in an initial public offering late this year, Bloomberg News has reported, citing a person familiar with the matter. The company, formally called One97 Communications Ltd, plans to list in India around November and is targeting a valuation of around $25 billion to $30 billion, the report said. The One97 board plans to meet this Friday to formally approve the IPO, according to the report. Paytm, backed by Japan's SoftBank Group , Warren Buffett's Berkshire Hathaway Inc and China's Ant Financial, did not immediately respond to a request for comment. Its IPO plans come at a time when the COVID-19 pandemic has fuelled demand for digital payment platforms in India, intensifying a battle for market share with Google and Facebook Inc-...

The full version of the article, along with thousands like it, can be found on the following page: Germans, French and Dutch want more say over tech giants’ start-up deals Draft rules targeted at Google, Facebook, Amazon and Apple should be beefed up to allow regulators to vet their acquisitions of start-up rivals, Germany, France and the Netherlands have said. The joint statement by German Economy Minister Peter Altmaier, his French counterpart Bruno Le Maire, French Junior Minister Cedric O and Dutch Economic Affairs Minister Mona Keijzer came as EU countries and lawmakers prepare to debate the European Commission's proposed rules. Tech giants have faced criticism from some for so-called killer acquisitions where they buy nascent rivals with the goal of shutting them down. Regulators should use the proposed Digital Markets Act (DMA) to address this issue, the ministers said. "First, setting clear and legally certain thresholds for acquisitions by gatekeepers of target...

The full version of the article, along with thousands like it, can be found on the following page: Australia’s CBA to let customers check other bank balances on its app Commonwealth Bank of Australia has become the first among the country's four big lenders to allow customers to view account balances from other lenders through its app, in a push to improve digital banking relationships. The COVID-19 pandemic has pushed lenders to trim physical branches and beef up their digital presence as more customers take to online transactions. CBA, Australia's largest bank, said its move came under the country's Consumer Data Right (CDR) law that will soon be extended to energy and other sectors. The bank said it would invest A$50 million (approximately $38.68 million) in two start-ups, picking up a 23% stake in online shopping platform Little Birdie and 25% in Amber, which provides access to wholesale electricity prices. The investments highlight how some banks are vying to go...

The full version of the article, along with thousands like it, can be found on the following page: Lawsuit claims Apple monopolizes heart-rate technology for Apple Watch A Silicon Valley company has filed an antitrust lawsuit accusing Apple of cornering the market for heart-rate monitoring technology for the Apple Watch, and endangering wearers' health. In a complaint filed late on Tuesday night, AliveCor Inc said Apple shut out rivals by changing the heart-rate algorithm on its watch's operating system, making rival technology incompatible. AliveCor sells KardiaBand, an Apple Watch wristband capable of recording an electrocardiogram, and SmartRhythm, an app that alerts users to irregular heartbeats. The privately held company accused Apple, whose market value exceeds $2 trillion, of quietly "working in the background" to copy its ability to record an ECG on the Apple Watch, and to provide a separate app for heart-rate analysis. "As it has done multiple ti...

The full version of the article, along with thousands like it, can be found on the following page: Facebook and Instagram will let users hide likes on posts Facebook's photo-sharing app Instagram is launching the option for users globally to hide like counts on posts and the change will soon roll out on Facebook, after years of tests focused on lessening the pressure of using their services. Instagram users will be able to hide like counts on all posts in their feed and on their own posts. Both options will be available on Facebook in "the next few weeks," Instagram said in a blog post. In a call with reporters, Instagram chief Adam Mosseri said the aim was to give people control over their experiences on the app. He said the platform's tests on hiding like counts had not shown particular changes in users' psychological well-being, but had polarized user opinion. "Likes," which are heart-shaped on Instagram and denoted by a thumbs-up on Facebook , ...

The full version of the article, along with thousands like it, can be found on the following page: TikTok owner ByteDance launches share buyback after shelving IPO plans ByteDance, the Chinese owner of short video platform giant TikTok, launched a share buyback this week for current and former employees, two people with direct knowledge of the matter said on Wednesday. The buyback comes after ByteDance announced in April that it did not have imminent plans for a public listing. The company had planned to list some of its Chinese businesses including TikTok's Chinese version Douyin in Hong Kong, sources previously told journalists at our partner news agency, Reuters. Last week, company founder Zhang Yiming unexpectedly announced that he will step down as Chief Executive Officer, a move that comes as Chinese regulators are increasing scrutiny of the country's biggest technology businesses. In an email sent to current and former employees this week, ByteDance said eligible ...