Technology 

Factbox: Corporate investments in EV startups

(Reuters) – Corporations across a variety of industries – auto, energy, electronics, aerospace, telecom – have invested in startup companies engaged in various aspects of automotive electrification, including batteries, charging devices and complete vehicles. FILE PHOTO: An electric car is seen while being charged during the opening of a PTT Pcl energy firm’s commercial EV (Electric Vehicle) charging station, in Bangkok, Thailand, August 15, 2016. REUTERS/Jorge Silva Here is a short list of prominent non-automotive corporate investors and the electrification startups they have funded: Intel Corp (technology): Prieto, Qnovo, Enovix,…

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Technology 

SoftBank seeks Deutsche’s advice on Saudi power investments: sources

DUBAI (Reuters) – SoftBank has hired Deutsche Bank to advise on its power investment plans in Saudi Arabia, two sources familiar with 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/File Photo The Japanese firm, which is planning to invest in a giant solar power plant in the kingdom, has also shown interest in electricity distribution in the world’s top oil exporter, they said. One source said SoftBank could consider purchasing a minority…

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Sports 

Vikings, 49ers angling for QB investments to pay off

Two of the highest paid quarterbacks in NFL history go head-to-head in the season opener when the San Francisco 49ers and Minnesota Vikings duel in Minneapolis on Sunday afternoon. Aug 30, 2018; Santa Clara, CA, USA; San Francisco 49ers quarterback Jimmy Garoppolo (10) before the game against the Los Angeles Chargers at Levi’s Stadium. Mandatory Credit: Kelley L Cox-USA TODAY Sports Jimmy Garoppolo and Kirk Cousins, at one point last year projected to reunite with 49ers head coach Kyle Shanahan in San Francisco, will share the spotlight when the NFL’s…

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Technology 

Alibaba’s revenue jumps but investments to prolong margin squeeze

BEIJING (Reuters) – Alibaba Group Holding Ltd (BABA.N), China’s biggest e-commerce firm, warned on Thursday investments in its delivery business would keep pressuring profits even as it reported its strongest-ever quarterly revenue growth, largely in line with estimates. U.S.-listed shares of Asia’s most valuable public company rose early on Thursday but then erased gains to end the day down 3 percent. While Alibaba makes money from its core businesses, including online marketplaces Tmall and Taobao and payment platform Alipay, it also has far flung investments in sports content, microchips and…

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Technology 

Alibaba revenue beats, but investments prolong margin squeeze

BEIJING (Reuters) – Alibaba Group Holding Ltd (BABA.N), China’s biggest e-commerce firm, topped first-quarter revenue estimates on Thursday, but said investments in its food delivery business would continue to weigh on profits. 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 company said it had formed a holding company for local services and food delivery firms Ele.me and Koubei, for which it had received over $3 billion in new investment commitments, including from SoftBank…

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Technology 

SoftBank monetises investments as telco IPO looms

TOKYO (Reuters) – Japan’s SoftBank Group Corp on Monday reported a 49 percent rise in first-quarter operating profit, boosted by the sale of its stake in Indian e-commerce firm Flipkart – the first public divestment by its Vision Fund. FILE PHOTO: The logo of SoftBank Group Corp is displayed at the SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo The technology firm, which is planning an initial public offering (IPO) for its domestic telecoms unit, also said profit was bolstered by the sale of the…

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Technology 

SoftBank profit swells 49 percent as it monetizes investments

TOKYO (Reuters) – Japan’s SoftBank Group Corp on Monday reported a 49 percent rise in first-quarter operating profit, boosted by the sale of its stake in Indian e-commerce firm Flipkart – the first public divestment by its Vision Fund. FILE PHOTO: The logo of SoftBank Group Corp is displayed at the SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo The telecoms and technology firm’s profit was also bolstered by the sale of the majority of chip designer ARM Holding’s Chinese operations to a local consortium.…

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Technology 

Ant Financial mega-fundraising leads sovereign investments in second quarter

LONDON (Reuters) – Ant Financial’s record-setting $14 billion funding round led sovereign investor transactions in the second quarter against a backdrop of rising interest in tech-related start-ups, although overall deal values fell slightly. FILE PHOTO: An employee stands next to the logo of Ant Financial Services Group, Alibaba’s financial affiliate, at its headquarters in Hangzhou, Zhejiang province, China January 24, 2018. REUTERS/Shu Zhang Singapore’s GIC and Temasek, and Malaysia’s Khazanah were among those participating in the Ant Financial round, the biggest-ever single fundraising for a private company. Ant Financial operates…

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Technology 

Trump administration to use review panel to curb China tech investments

WASHINGTON (Reuters) – U.S. President Donald Trump said on Wednesday he will use a strengthened national security review panel process to deal with potential threats from Chinese acquisition of American technologies, instead of imposing China-specific restrictions. FILE PHOTO: U.S. President Donald Trump speaks during a lunch meeting with Republican members of Congress at the White House in Washington, U.S., June 26, 2018. REUTERS/Kevin Lamarque The Treasury Department has recommended that Trump use the Committee on Foreign Investment in the United States (CFIUS), whose authority would be enhanced by new legislation…

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