Technology 

Netflix raises prices for U.S. subscribers

(Reuters) – Netflix Inc (NFLX.O) is raising monthly fees for its U.S. subscribers by between 13 percent and 18 percent, the video streaming pioneer’s first price increase since 2017 as it spends heavily on original content and international expansion. Prices for its popular standard plan, which allows streaming on two devices at the same time, will be increased to $12.99 per month from $10.99, the company said in a statement. Netflix shares rose 6.5 percent to $354.56 in afternoon trading, adding to their 30 percent rise so far this year.…

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Technology 

India’s Infosys raises revenue guidance, but third-quarter profit misses estimate

FILE PHOTO: The logo of Infosys is pictured inside the company’s headquarters in Bengaluru, India, April 13, 2017. REUTERS/Abhishek N. Chinnappa/File Photo (Reuters) – Indian IT services company Infosys Ltd raised its full-year revenue growth forecast on Friday, but reported a larger-than-expected drop in third-quarter profit, due to higher expenses. The country’s second-biggest software services exporter by market capitalization reported a 29.6 percent fall in attributable profit for October-December to 36.09 billion rupees ($511.94 million). That compared with the 41.31 billion rupees average of 25 analyst estimates compiled by Refinitiv…

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Top stories 

Fed raises rates but cuts 2019 forecast

Image copyright Reuters Image caption The Federal Reserve has been gradually raising interest rates since 2015 The Federal Reserve has raised interest rates again – but future increases may come at a slower pace. Officials at the US central bank voted to lift the Fed’s key interest rate by 0.25%, to a target range of 2.25%-2.5%. But estimates released on Wednesday show most members expect two rate increases in 2019 – not three, as previously forecast. The shift follows a downturn in US financial markets and concerns about slowing growth…

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Technology 

China’s Tencent Music raises nearly $1.1 billion in U.S. IPO

NEW YORK/HONG KONG (Reuters) – China-based music streaming company Tencent Music Entertainment Group (TME.N) said it raised close to $1.1 billion in its U.S. initial public offering (IPO) after pricing its shares at the bottom of its targeted range. The music arm of gaming and social network giant Tencent Holdings Ltd (0700.HK) priced its American Depositary Receipts (ADRs) at $13 per share, at the low end of its indicated $13 to $15 per share range, it said in a filing with the Hong Kong stock exchange. The IPO values Tencent…

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Technology 

Mobility tech firm Optibus raises $40 million, Alibaba takes stake

JERUSALEM (Reuters) – U.S.-Israeli mobility technology company Optibus said on Wednesday it raised $40 million in a private funding round led by Insight Venture Partners and with a strategic investment from the Alibaba Group. Existing investors, including Verizon Ventures, Pitango Venture Capital, New Era Capital and Sir Ronald Cohen, also participated in the round. Details of Alibaba’s stake were not disclosed. Optibus develops software to modernize mass transit systems and get them ready for smart city integration. The company said its technology is being used by more than 300 cities…

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Technology 

Software firm Quali raises $22.5 million in VC-backed funding round

JERUSALEM (Reuters) – U.S.-Israeli software firm Quali said on Tuesday it raised $22.5 million in a private funding round led by Jerusalem Venture Partners (JVP). The company’s existing investors, including Dell Ventures, Kreos Capital, Evergreen Ventures, Gemini Israel Ventures and ORR Partners, also participated in the round. Quali said the funding will allow it to further increase its growth in cloud, security and development operations and expand its footprint in the United States. It noted that over the past two years it has seen 50 percent annual recurring revenue growth…

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Technology 

Ping An-backed Lufax raises $1.3 billion at lower valuation: sources

HONG KONG (Reuters) – Ping An-backed Lufax has raised $1.33 billion in its latest funding round from a dozen investors, at a valuation below expectations of the financial technology company, people with direct knowledge of the matter told Reuters. FILE PHOTO: A sign of wealth management platform Lufax is seen during an expo in Beijing, China December 11, 2015. REUTERS/Stringer The fundraising values Lufax, set up in 2011 by top insurer Ping An Insurance Group Co of China Ltd, at $38 billion prior to closing, the people said. Lufax was…

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Science 

Climate change: Report raises new optimism over industry

Image copyright Reuters A new report on the potential of heavy industry to combat climate change offers a rare slice of optimism. Sectors like steel, chemicals, cement, aviation and aluminium face a huge challenge in cutting carbon emissions. But a group including representatives from business concludes it is both practical and affordable to get their emissions down to virtually zero by the middle of the next century. The report’s been described as wishful thinking by some environmentalists. Can we afford it? The group, the Energy Transitions Commission (ETC), says we…

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Technology 

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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Technology 

Cloud security firm Netskope raises $169 million , valuation tops $1 billion

NEW YORK (Reuters) – Cloud-security firm Netskope said on Tuesday it has raised $169 million in a deal that will help fund global expansion and pushed its valuation over $1 billion. Chief Executive Officer Sanjay Beri, who last year raised $100 million and said he would never again seek funding, said he would use the proceeds to expand sales, research and development and data centers. “We initially didn’t set out to raise a new round, but in conversations with our investors, we realized we could double down on scaling and…

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