Technology 

Huawei committed to Canadian investment despite CFO arrest: chairman

TORONTO (Reuters) – Huawei Chairman Liang Hua said on Thursday the company is committed to increasing investment in Canada despite the arrest of its chief financial officer by Canadian police at the request of the United States last December. A woman walks past a Huawei shop in Beijing, China, January 29, 2019. REUTERS/Thomas Peter/File Photo Liang spoke to reporters after the Chinese telecommunications company said it would increase Canadian research and development investment by 15 percent this year and add 200 R&D jobs, expanding its workforce by 20 percent. “We…

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Technology 

Alibaba boosts stake in investment bank CICC for $231 million

SINGAPORE (Reuters) – China’s e-commerce giant Alibaba Group Holding Ltd has raised its stake in top domestic investment bank China International Capital Corp’s Hong Kong-listed shares to nearly 12 percent, an exchange disclosure showed on Monday. FILE PHOTO: The logo of Alibaba Group is seen at the company’s headquarters in Hangzhou, Zhejiang province, China, July 20, 2018. REUTERS/Aly Song/File Photo The internet giant bought 117 million CICC H-shares – as those listed in Hong Kong are known – at an average price of HK$15.50. That indicates a total investment of…

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Technology 

Exclusive: VW, Ford far apart on investment in Ford autonomous unit – sources

(Reuters) – Volkswagen AG and Ford Motor Co have been unable to reach agreement on whether or how much the German automaker will invest in Ford’s self-driving vehicle unit, people familiar with the negotiations said. FILE PHOTO: The President and CEO of Ford Motor Company Jim Hackett, poses with Volkswagen CEO Herbert Diess at the North American International Auto Show in Detroit, Michigan, U.S., January 14, 2019. REUTERS/Ben Klayman/File Photo VW has resisted agreeing to invest in Ford’s autonomous vehicle unit, instead preferring to announce the companies will simply work…

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Technology 

Driverless delivery startup Nuro gets $940 million SoftBank investment

FILE PHOTO – The unmanned delivery vehicle, Nuro, is seen during the Kroger annual shareholders meeting in Cincinnati, Ohio, U.S., June 28, 2018. Picture taken June 28, 2018. Courtesy of Kroger/Handout via REUTERS (Reuters) – Autonomous technology startup Nuro said on Monday it raised $940 million from SoftBank Group Corp, which valued the Silicon Valley-based company at $2.7 billion. Nuro was co-founded in 2016 by two former engineers of Google’s self-driving car project, Dave Ferguson and Jiajun Zhu. The funding by SoftBank came through its $100-billion Vision Fund, which usually…

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Technology 

Driverless delivery startup Nuro gets $940 million SoftBank investment

FILE PHOTO – The unmanned delivery vehicle, Nuro, is seen during the Kroger annual shareholders meeting in Cincinnati, Ohio, U.S., June 28, 2018. Picture taken June 28, 2018. Courtesy of Kroger/Handout via REUTERS (Reuters) – Autonomous technology startup Nuro said on Monday it raised $940 million from SoftBank Group Corp, which valued the Silicon Valley-based company at $2.7 billion. Nuro was co-founded in 2016 by two former engineers of Google’s self-driving car project, Dave Ferguson and Jiajun Zhu. The funding by SoftBank came through its $100-billion Vision Fund, which usually…

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Top stories 

Tony Khan: Fulham vice-chairman promises investment but argues with fan on Twitter

Tony Khan (right) with his father, Fulham owner Shahid Khan Fulham vice-chairman Tony Khan told a critical supporter who had urged him to leave the club, to “go to hell”. Khan, 36, tweeted fans after Saturday’s 2-1 defeat at Burnley which left his side 19th in the Premier League, five points adrift of safety. In a succession of messages he promised “multiple signings” in January but one fan replied: “Leave my club please”. Khan, the son of Fulham owner Shahid Khan, responded: “Never. I’ll die at this club. Go to…

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Technology 

SoftBank to slash planned WeWork investment: FT

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 (Reuters) – SoftBank Corp is in talks to invest $2 billion in U.S. shared office space provider WeWork Cos Inc this year, a much lower amount than the $16 billion discussed towards the end of last year, the Financial Times reported on Monday. The deal will now not include the participation of SoftBank’s Vision Fund, which had been a major backer…

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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 

South Korean food delivery startup Woowa Bros lands $320 million investment

SEOUL (Reuters) – The operator of South Korea’s largest food delivery app has secured a $320 million investment from Hillhouse Capital, Sequoia Capital and GIC, it said on Thursday, in a deal that values the startup at about $2.6 billion. Woowa Brothers Corp, which owns the “Baedal Minjok” food delivery service, said the cash will help drive expansion to overseas markets, and the development of autonomous robots. The investment was led by Hillhouse Capital, which had already invested 57 billion won ($50.7 million) in the firm in 2016, with equity…

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