Technology 

Apple demanded $1 billion for chance to win iPhone: Qualcomm CEO

SAN JOSE, California (Reuters) – Qualcomm sought to become the sole supplier of modem chips for Apple’s iPhone to recoup a $1-billion “incentive payment” that Apple insisted on, not to block rivals from the market, Qualcomm’s chief executive testified on Friday. FILE PHOTO: A woman checks her phone at a flagship Apple store at Iconsiam shopping mall in Bangkok, Thailand November 9, 2018. REUTERS/Soe Zeya Tun The payment from Qualcomm to Apple – part of a 2011 deal between Apple and Qualcomm – was meant to ease the technical costs…

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Technology 

LG Chem to spend $1.07 billion on expanding battery plants in China

SEOUL (Reuters) – South Korea’s LG Chem said on Thursday that it plans to invest a total of 1.2 trillion won ($1.07 billion) to expand its two battery plants in China by 2020 in a bid to meet rising global demand. Under the investment plan, LG Chem will spend 600 billion won each at an electric vehicle battery plant and a small-sized battery plant in Nanjing, the company said in a statement. Last year, the South Korean battery maker announced a plan to invest about 2 trillion won to build…

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Technology 

Israeli high-tech firms raised record $6.47 billion in 2018

TEL AVIV (Reuters) – Israeli private high-tech companies raised a record $6.47 billion in 2018, up 17 percent from 2017, the Israel Venture Capital Research Center and ZAG law firm said on Wednesday. In the fourth quarter high-tech firms raised a record $1.82 billion, up 8 percent from the third quarter, the IVC-Zag report showed. “Most of the capital was raised by well-established software companies with annual revenues of up to $10 million in the verticals of AI (artificial intelligence) and cyber security,” said Marianna Shapira, research director at IVC.…

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Technology 

SoftBank to invest additional $2 billion in WeWork: sources

(Reuters) – SoftBank Group Corp (9984.T) will inject another $2 billion in WeWork Cos Inc this year, bringing the Japanese conglomerate’s total investment in the office space provider to more than $10 billion, according to two people familiar with the matter. FILE PHOTO – SoftBank Corp. placard is prepared during a ceremony to mark the company’s debut on the Tokyo Stock Exchange in Tokyo, Japan December 19, 2018. REUTERS/Issei Kato The new investment will value WeWork at $47 billion, one of the sources said. SoftBank will separately convert previously purchased…

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Top stories 

China’s population ‘to peak’ in 2029 at 1.44 billion

Image copyright Getty Images Image caption China relaxed its one-child policy in 2015 to combat an ageing population China’s population will peak in 2029 at 1.44 billion before beginning a period of “unstoppable” decline, a government report says. The China Academy of Social Sciences (CASS) study says the country must implement policies to handle a smaller workforce and an older population. Both changes combined could cause “very unfavourable social and economic consequences”, the report says. Latest UN estimates say China has a population of 1.41 billion. In 2015 the world’s…

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Technology 

Google shifted $23 billion to tax haven Bermuda in 2017: filing

FILE PHOTO: An illuminated Google logo is seen inside an office building in Zurich, Switzerland December 5, 2018. REUTERS/Arnd Wiegmann AMSTERDAM (Reuters) – Google moved 19.9 billion euros ($22.7 billion) through a Dutch shell company to Bermuda in 2017, as part of an arrangement that allows it to reduce its foreign tax bill, according to documents filed at the Dutch Chamber of Commerce. The amount channeled through Google Netherlands Holdings BV was around 4 billion euros more than in 2016, the documents, filed on Dec. 21, showed. “We pay all…

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Sports 

Olympics: Tokyo keeps budget at $12.6 billion, more work needed

The construction site of the New National Stadium, the main stadium of Tokyo 2020 Olympics and Paralympics, is seen in Tokyo, Japan August 6, 2018. REUTERS/Issei Kato TOKYO (Reuters) – The 2020 Summer Olympics budget remains unchanged at $12.6 billion after increases in some areas were offset by reductions in others, with Games organizers acknowledging on Friday that more work was needed to curb spending. Organizers have been working to cut expenses since a study warned they could balloon to four times estimates made during the bidding process, while the…

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Technology 

SoftBank’s Vision Fund nearing $1.5 billion investment in SE Asia’s Grab -source

SINGAPORE (Reuters) – SoftBank Group Corp (9984.T) is nearing a deal to invest $1.5 billion in Grab, three times a previously expected $500 million, as Southeast Asia’s biggest ride-hailing firm looks to expand, a person with knowledge of the matter said. FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato Six-year old Grab has so far raised over $6.5 billion, led by SoftBank, Chinese ride-hailing firm Didi Chuxing and Toyota Motor Corp (7203.T). After a fund…

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Technology 

SoftBank’s Vision Fund nearing $1.5 billion investment in South East Asia’s Grab: source

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato SINGAPORE (Reuters) – SoftBank Group Corp (9984.T) is nearing a deal to invest $1.5 billion in Grab, three times a previously expected $500 million, as Southeast Asia’s biggest ride-hailing firm looks to expand, a person with knowledge of the matter said. Six-year old Grab has so far raised over $6.5 billion, led by SoftBank, Chinese ride-hailing firm Didi Chuxing and Toyota Motor Corp (7203.T). After a fund…

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Technology 

Huawei to spend $2 billion over five years in cybersecurity push

(This version of the December 18th story corrects chairman’s last name to Hu in 11th, 14th and last paragraphs) People walk past the stall of the telecommunications equipment maker Huawei Technologies at the Security China 2018 exhibition on public safety and security in Beijing, China October 23, 2018. REUTERS/Thomas Peter By Sijia Jiang HONG KONG (Reuters) – Huawei Technologies [HWT.UL] on Tuesday said it would spend $2 billion over the next 5 years to focus on cybersecurity by adding more people and upgrading lab facilities, as it battles global concerns…

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