Technology 

Corporate investors pile into electric vehicle startups

DETROIT (Reuters) – Corporate investors from outside the auto industry are placing increasing bets on electric vehicles, vying with automakers and suppliers to bankroll startup companies working on everything from advanced batteries to charging devices and all-new EVs. FILE PHOTO: A Chevrolet Volt plug-in hybrid vehicle is being charged at Stewart Chevrolet in Colma, California, U.S., October 3, 2017. REUTERS/Stephen Lam Some 250 startups involved in some aspect of electrification have attracted more than $20 billion in venture capital, notably from a broad array of corporations across multiple industries, according…

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Investors ask how the Bezos divorce will affect Amazon

NEW YORK (Reuters) – Amazon.com Inc (AMZN.O) shares seesawed on Thursday as investors questioned how the impending divorce of company founder Jeff Bezos would affect his control of the most valuable company on Wall Street and its ambitious expansion plans. FILE PHOTO: 2018 Vanity Fair Oscar Party – Arrivals – Beverly Hills, California, U.S., 04/03/2018 – Amazon CEO Jeff and wife MacKenzie Bezos. REUTERS/Danny Moloshok Bezos, whom Forbes lists at the world’s richest person, worth an estimated $136.2 billion, said via Twitter on Wednesday that he and his wife of…

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Chinese tech investors flee Silicon Valley as Trump tightens scrutiny

SAN FRANCISCO (Reuters) – New Trump administration policies aimed at curbing China’s access to American innovation have all but halted Chinese investment in U.S. technology startups, as both investors and startup founders abandon deals amid scrutiny from Washington. FILE PHOTO: U.S. President Donald Trump and China’s President Xi Jinping shake hands after making joint statements at the Great Hall of the People in Beijing, China, November 9, 2017. REUTERS/Damir Sagolj/File Photo Chinese venture funding in U.S. startups crested to a record $3 billion last year, according to New York economic…

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Technology 

Bike-sharing firm Ofo’s dramatic fall a warning to China’s tech investors

BEIJING/SHANGHAI (Reuters) – On the sidewalks of Shanghai and Beijing, once bright-yellow Ofo bicycles lie in varying states of disrepair – chains unhooked, wheels buckled and paint starting to fade – reflecting the quick rise and sharp fall of the Chinese bike-sharing startup. FILE PHOTO: A worker transports bicycles of the bike-sharing startup Ofo in Beijing, China, December 20, 2018. REUTERS/Thomas Peter/File Photo Millions of Ofo users are clamoring for their deposits to be returned and the firm’s founder has admitted considering bankruptcy. Ofo’s plight is a warning for China’s…

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Technology 

Cryptocurrency project Basis to shut down and return funding to investors

NEW YORK (Reuters) – Basis, a cryptocurrency project that in April announced it had raised $133 million from a slew of high profile investors, said on Thursday that it was shutting down and returning the funds to its backers because of regulatory concerns. The project, which was being developed by U.S.-based company Intangible Labs, had aimed to create a new type of cryptocurrency known as a “stablecoin” that could maintain a stable price and be more usable than existing digital coins whose value in dollars is highly volatile. “Unfortunately, having…

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Ford CEO open to investors in autonomous vehicles but cautious on VW

MIAMI (Reuters) – Ford Motor Co (F.N) Chief Executive Jim Hackett told Reuters the company was open to investment by automakers and others in its autonomous vehicle business, but cautioned that expanding partnerships with German automaker Volkswagen AG (VOWG_p.DE) (VOWG.DE) was a “delicate dance.” Volkswagen’s supervisory board is scheduled to meet on Thursday to review a 10-year strategic plan by Chief Executive Herbert Diess that is expected to propose using alliances with rivals to cut development costs for electric and autonomous vehicles and potentially other types of vehicles. Ford and…

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Airspace Technologies raises $20 million as investors pile into logistics startups

SAN FRANCISCO (Reuters) – The latest startup aiming to bring new technology to the business of moving around cargo has raised $20 million in fresh funding, bolstering an already record year of fundraising for companies in the shipping and logistics sector. The chief executive of Airspace Technologies, a nearly 3-year-old startup based in Southern California, told Reuters it raised the money in a funding round led by Silicon Valley-based firm Scale Venture Partners, with help from existing investors including Qualcomm Ventures. The company plans to extend the round and raise…

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Investors bristle as Apple’s iPhone data goes the way of its headphone jacks

(Reuters) – First Apple Inc took away the headphone jack on its iPhones. Then it took away the home button. FILE PHOTO: The Apple iPhone 7 and AirPods are displayed during an Apple media event in San Francisco, California, U.S. September 7, 2016. Reuters/Beck Diefenbach/File Photo And now, it has taken away a closely watched performance metric that it has disclosed to investors for 20 years. The Cupertino, California-based company on Thursday said that it will stop reporting unit sales data for its iPhone, iPad and Mac computer products, the…

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Technology 

Birthday blues for bitcoin as investors face year-on-year loss

LONDON (Reuters) – Bitcoin was heading toward a year-on-year loss on Wednesday, its 10th birthday, the first loss since last year’s bull market, when the original and biggest digital coin muscled its way to worldwide attention with months of frenzied buying. FILE PHOTO: The screen of Southern California’s first two bitcoin-to-cash ATMs on its first day of operation, is seen in Locali Conscious Convenience store in Venice, Los Angeles, California, June 21, 2014. REUTERS/Lucy Nicholson/File Photo By 1300 GMT, bitcoin BTC=BTSP was trading at $6,263 on the BitStamp exchange, leaving…

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Early bitcoin investors count winnings after volatile decade

NEW YORK/LONDON (Reuters) – Seven years ago, Marshall Hayner gave his grandfather one bitcoin, worth about $30. On the paper wallet he fashioned to commemorate the gift, the U.S. entrepreneur and software developer wrote: “Do not open until $100,000.” FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration/File Photo It made Hayner’s grandparents laugh, and indeed bitcoin has not come anywhere near that level. But it is worth more than 200 times what it was in 2011 when…

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