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Ticket resale company ‘determined to sit outside the law’

Image caption Last year Arctic Monkeys manager Ian McAndrew called for Viagogo to be shut down Campaigners say ticket resale company Viagogo is not fully complying with a court order to reform its practices. In November, the firm was required to improve the information it gives to consumers, including details of the seller and seat numbers. The company now insists it is compliant with the legal requirements. But ticketing expert Reg Walker said Viagogo had not fulfilled its obligations and “seems determined to sit outside the law.” Last year a…

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Tencent weighing bid for holding company behind Korea’s Nexon: sources

HONG KONG/SEOUL (Reuters) – Chinese gaming titan Tencent Holdings Ltd is considering a bid for the holding company that controls South Korean gaming company Nexon, two sources with knowledge of the matter told Reuters. Logo of Tencent is displayed at a news conference in Hong Kong, China March 22, 2017. REUTERS/Tyrone Siu Tencent is looking to enlist co-investors, the sources said. One of the sources also said private equity firms are studying options for a deal, including taking the listed company private. Nexon founder Kim Jung-ju plans to sell a…

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Payments company Square launches debit card for small businesses

NEW YORK (Reuters) – Payments company Square Inc is launching a free debit card for small businesses aimed at helping them better manage their cash flows, the company said on Thursday. The MasterCard debit card will allow companies to spend funds from sales they have processed via Square’s payments systems as soon as they have made the sale, the company said. This gives business owners quicker access to the proceeds of sales rather than having to wait for the funds to be transferred and reach their bank account, Square said.…

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Huawei Canada executive leaves post as scrutiny of company grows

NEW YORK/OTTAWA (Reuters) – One of Huawei Canada’s top executives on Friday disclosed he was leaving his post after more than seven years with the Chinese telecommunications equipment maker, which is facing heightened scrutiny over security issues from Canada and its allies. FILE PHOTO: Huawei Canada Vice President of Corporate Affairs Scott Bradley stands outside after the B.C. Supreme Court bail hearing of Huawei CFO Meng Wanzhou, who was released on a $10 million bail in Vancouver, British Columbia, Canada December 11, 2018. REUTERS/Lindsey Wasson Scott Bradley disclosed his departure…

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Google’s parent company Alphabet sued over sexual misconduct policy

Image copyright Reuters Image caption Google staff walked out in protest over the way it handled sexual misconduct allegations Google’s parent company Alphabet is facing legal action over the way it allegedly handled sexual misconduct claims against two senior managers. Separately two lawsuits have been filed by long-term shareholders which accuse Alphabet’s board of being involved in attempts to cover up the claims. Both legal claims want Alphabet to do a better job of uncovering and responding to misconduct. Google declined to comment on the lawsuits or whether it will…

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Chinese group swindles $18.5 million from Indian arm of Italian company: Economic Times

MUMBAI (Reuters) – A group of Chinese hackers robbed 1.3 billion rupees ($18.45 million) from the Indian unit of Tecnimont SpA through an elaborate cyber fraud that included impersonating the Italian engineering firm’s chief executive, the Economic Times reported. The scammers sent emails to the India head of Tecnimont, part of the publicly traded Maire Tecnimont, from an account that looked similar to one used by the Italian group’s CEO and also organized conference calls to discuss a “confidential” acquisition in China, the ET report said, citing a complaint made…

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NXP teams with French company on self-driving car chips

(Reuters) – Dutch chipmaker NXP Semiconductors NV said on Tuesday it will team up with French chip firm Kalray SA to craft computers for self-driving cars, in an effort they hope will ease the path to winning future approval of their computers from safety regulators. FILE PHOTO: The CES logo is shown at the Las Vegas Convention Center as workers prepare for 2019 CES in Las Vegas, Nevada, U.S. January 6, 2019. REUTERS/Steve Marcus NXP has long supplied chips to the automotive market and boasts deep ties in that industry,…

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Fintech company Plaid acquires peer Quovo

(Reuters) – U.S. fintech company Plaid Inc said on Tuesday it had acquired New York-based peer Quovo Inc to boost its portfolio of software products that connect banks with fintech apps. The deal value was set just under $200 million, CNBC reported, citing a source familiar with the deal. Quovo and Plaid declined to comment on the deal value. San Francisco-based Plaid makes software platforms for consumers of fintech companies to connect with their banks and transact through application program interface (API). Plaid customers include popular apps such as Venmo…

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Amazon becomes world’s most valuable public company

Image copyright Getty Images Image caption Amazon’s Jeff Bezos is the world’s richest man Amazon, formed 25 years ago, has eclipsed Microsoft to become the world’s most valuable listed company. The online giant was worth $797bn (£634bn) when the US stock market closed on Monday after rising 3.4% and moved past Microsoft, valued at $789bn. Jeff Bezos, the founder of Amazon, is the world’s wealthiest man, with riches of $135bn, according to Bloomberg’s billionaire index. He overtook Microsoft founder Bill Gates last year. It is the first time Amazon has…

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Innogy to put electric vehicle business into separate company

Innogy logo before the company’s annual news conference in Essen, Germany March 12, 2018. REUTERS/Wolfgang Rattay FRANKFURT (Reuters) – German utility Innogy is putting its business serving the electric car industry into a standalone company, separate from its main business as an energy supplier. “This pooling of our eMobility business is our response to the current challenges of an increasingly fast-growing market”, Innogy manager Martin Herrmann said in a statement on Thursday. The new company, Innogy eMobility Solutions, will cater to the automotive industry, charge point operators, fleet operators and…

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