Tech

Fitbit posts adjusted profit on smartwatch sales, shares up 10 percent

Editorial Bureau November 12, 2018

(Reuters) – Wearable device maker Fitbit Inc reported a surprise third-quarter adjusted profit on Wednesday, driven by its fast-growing smartwatch business that contributed to nearly half of its total revenue. Shares of the San Francisco-based company, which has also kept a tight leash on

Tech

Dialog sees double-digit growth, stable margins after Apple deal

Editorial Bureau November 12, 2018

FRANKFURT (Reuters) – Dialog Semiconductor expects revenues to grow in the mid-teens after a $600 million deal with Apple to transfer patents and programmers key to making the iPhone’s main power chip. The landmark deal buys time for the Anglo-German chip designer, which relies on Apple for three-quarters of sales, to reinvent itself as a […]

Tech

Smartphone maker Xiaomi launches in Britain with flagship device

Editorial Bureau November 12, 2018

LONDON (Reuters) – Xiaomi, the world’s fourth-ranked smartphone maker, entered Britain on Thursday with the international debut of its flagship Mi 8 Pro, which it hopes will win fans in a market dominated by Samsung and Apple. Senior vice president Xiang Wang said Britain had a “cool” factor that aligned with the company’s appeal to […]

Tech

EBay beats quarterly profit on cost cut efforts, shares rise

Editorial Bureau October 31, 2018

Reuters) – EBay Inc beat analysts’ estimates for third-quarter profit by managing costs at a time when bigger rival Amazon.com Inc missed revenue estimates and forecast sales below expectations for the holiday quarter. Shares of EBay, which also expects fourth-quarter profit marginally above analysts’ estimates, rose as much as 6.0 percent in after-hours

Tech

Facebook expects rising costs to combat scandals to moderate after 2019

Editorial Bureau October 31, 2018

(Reuters) – Facebook Inc on Tuesday relieved investors by forecasting that margins would stop shrinking after 2019 as costs from scandals ease up, sending shares up despite a second-straight quarter with record-low user growth. Chief Executive Mark Zuckerberg repeated the company’s warning that growing user interest in private messaging, video and safer content

Tech

Samsung slashes capex, calls end to chip boom after record third quarter

Editorial Bureau October 31, 2018

SEOUL (Reuters) – Samsung Electronics Co Ltd slashed 2018 capex by more than a quarter on Wednesday and warned of lower profit until early next year, calling an end to a two-year boom in memory chips that fuelled record third-quarter profit. The downbeat forecast by the world’s biggest maker of memory chips and smartphones adds […]

Tech

Baidu’s fourth quarter sales goal misses estimates as regulation, trade fears bite

Editorial Bureau October 31, 2018

BEIJING/SAN FRANCISCO (Reuters) – Chinese search engine operator Baidu Inc on Wednesday forecast fourth-quarter sales below analyst estimates, saying new regulations and uncertainty surrounding a Sino-U.S. trade spat has prompted clients to cut back on advertising. U.S.-listed Baidu, often compared to Alphabet Inc’s Google, also reported a sharp decline in its

Tech

MUFG leaps to grab CBA asset management unit for $2.9 billion in surprise sale

Editorial Bureau October 31, 2018

SYDNEY/TOKYO (Reuters) – Commonwealth Bank of Australia will sell its asset management arm to Mitsubishi UFJ Financial Group for $2.9 billion in a surprise sale, the latest business to be sold by an Australian financial giant amid unprecedented regulatory scrutiny. Australia’s biggest lender said it was cancelling plans to list Colonial First State Global Asset

Tech

Micron to buy Intel’s stake in joint venture IM Flash Technologies

Editorial Bureau October 21, 2018 0

(Reuters) – Micron Technology Inc said on Thursday it planned to take full control of IM Flash Technologies joint venture with Intel Corp. The deal terms include payment of about $1.5 billion in cash, as well as taking over Intel’s debt to the venture, which was about $1 billion as of Aug. 30, Micron said. […]

Tech

Amazon to open Manchester office as it adds 1,000 British jobs

Editorial Bureau October 21, 2018 0

LONDON (Reuters) – Amazon.com is opening its first office in Manchester, northern England, and expanding two other centres to house 1,000 new R&D roles in what it said was a major new investment in British innovation. The U.S online retail giant will create 600 new corporate and development jobs in Manchester, take on an additional […]