Japanese e-commerce giant Rakuten sold on Monday 13 percent of its shares, worth $2.2 billion, to several new investors, as the company attempts to strengthen its balance sheet, while rolling out a more aggressive mobile strategy. The new investors into Rakuten are Japan Post – the country’s largest insurer and bank by deposit, as well […]
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The world’s major automakers have made something abundantly clear: They believe electric vehicles will dominate their industry in the years ahead. Yet for that to happen, they’ll need to sell the idea to people like Steve Bock. When Bock recently replaced his family’s 2013 Honda Pilot SUV, he considered — and then dismissed — the […]
A U.S. federal judge rolled back on a Department of Defense ban on investments in Chinese budget smartphone maker Xiaomi, citing insufficient evidence that the company posed a national security threat. On Friday, U.S. District Judge Rudolph Contreras said that the court had found the Department of Defense (DoD) had “not made the case that […]
The Biden administration is not planning to step up government surveillance of the U.S. internet even as state-backed foreign hackers and cybercriminals increasingly use it to evade detection, a senior administration official said Friday. The official said the administration, mindful of the privacy and civil liberties implications that could arise, is not currently seeking additional […]
Netflix is testing a way to crack down on password sharing. The popular streaming service has been using popups to ask some users to verify their account via email or text, or to “verify later.” “If you don’t live with the owner of this account, you need your own account to keep watching,” the screen […]
President Joe Biden’s bid to tackle climate change is running straight through the heart of the U.S. oil and gas industry — a much bigger, more influential foe than Democrats faced when they took on the coal industry during the Obama years. Coal dominated U.S. power generation for decades, with the bulk of that fuel […]
Christie’s says it has auctioned off a digital collage by an artist named Beeple for nearly $70 million, in an unprecedented sale of a digital artwork that fetched more money than physical works by many better known artists. The piece, titled “Everydays: The First 5,000 Days,” sold for $69.4 million in an online auction, “positioning […]
Esther Montanez’s housecleaning job at the Hilton Back Bay in Boston was a lifeline for her, a 31-year-old single mother with a 5-year-old son. The pay was steady and solid — enough to pay her bills and still have money left over to sock away savings for her child. But when the pandemic slammed the […]
The head of the World Health Organization called Friday for patent rights to be waived until the end of the coronavirus pandemic so that vaccine supplies can be dramatically increased, saying these “unprecedented times” warrant the move. At a press briefing, WHO chief Tedros Adhanom Ghebreyesus said countries with their own vaccine capacity should “start […]
India-based Sterlite Technologies Ltd. (STL), a large integrator of digital networks, announced recently new deals and extensions to current engagements with leading telcos in the Middle East and Africa region (MEA). The deals worth more than $100 million exhibit the company’s focus on building future-ready digital networks in the region. Since mid-2020, Tier 1 MEA […]