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Facebook OKs local firm’s launch of Moments-like app in China: New York Times

(Reuters) – Facebook Inc, whose social media platform is blocked in China, authorized a local company to launch a photo-sharing application in the country in May, the New York Times reported, citing a person with knowledge of the company’s plans. Source
Posted On 11 Aug 2017

Snap shares hit record low as user growth miss unnerves investors

(Reuters) – Snap Inc’s shares fell more than 14 percent to hit a record low on Friday morning after messaging app Snapchat’s daily active user growth missed expectations for the second quarter in a row. Source
Posted On 11 Aug 2017

Bond investors seen giving Tesla a $1.8 billion endorsement

NEW YORK (Reuters) – Bond investors on Friday were poised to give a $1.8 billion boost to Tesla Inc’s balance sheet by snapping up the electric car maker’s first foray into the U.S. junk bond market, where yield-hungry investors have raced to lock in relatively...
Posted On 11 Aug 2017

Cash-strapped SoundCloud gets new funds and top management

FRANKFURT (Reuters) – SoundCloud, the world’s most popular streaming music app, but one that has struggled to find a profitable business model, said it received new funding on Friday, insulating it from potentially running out of cash this year. Source
Posted On 11 Aug 2017

Netflix discussing keeping Disney’s Marvel, ‘Star Wars’ films

LOS ANGELES (Reuters) – Netflix Inc is in “active discussions” with Walt Disney Co about keeping Marvel and “Star Wars” films after 2019, when new Disney and Pixar movies will stop appearing on the streaming service, a senior executive said late on...
Posted On 11 Aug 2017

U.S. blockchain company in tie-up on medical artificial intelligence

NEW YORK (Reuters) – U.S. technology company The Bitfury Group has formed a partnership with Insilico Medicine, a Baltimore-based medical artificial intelligence (AI) firm, to create new applications for the healthcare industry using blockchain, Bitfury’s chief...
Posted On 11 Aug 2017

Russia-linked hackers targeted hotel guests across Europe: security firm

FRANKFURT (Reuters) – A cyber-spying group with suspected links to Russian military intelligence was probably behind a campaign targeting hotel guests in eight mostly European countries last month, researchers at security firm FireEye said on Friday. Source
Posted On 11 Aug 2017

Lithuanian court upholds extradition of man to U.S. in $100 million fraud case

VILNIUS (Reuters) – Lithuania’s top appeals court on Friday upheld a decision to extradite to the United States a Lithuanian man accused of defrauding Facebook and Google out of more than $100 million. Source
Posted On 11 Aug 2017

Uber investors seek to oust Benchmark after ‘destructive’ lawsuit -report

SAN FRANCISCO (Reuters) – A lawsuit filed by investor Benchmark Capital against ousted Uber Chief Executive Travis Kalanick has raised the ire of three investors who on Friday asked the venture firm to divest its shares and step down from the ride-services company’s...
Posted On 11 Aug 2017

HBO offered $250,000 to hackers in bid to delay data release

(Reuters) – Time Warner Inc’s HBO network last month offered $250,000 to cyber criminals who hacked into its computer system, asking them to extend a deadline for paying a much larger ransom, according to an email reviewed by Reuters. Source
Posted On 11 Aug 2017