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Facebook to unveil new cryptocurrency

LONDON, June 17 — Facebook is set tomorrow to unveil a bid to bring cryptocurrency payments into the mainstream, reportedly with the endorsement of governments and financial giants. The world’s biggest social network is expected to outline…


Wall Street closes lower as Broadcom warning hits chip stocks

NEW YORK, June 15 ― US stocks ended lower yesterday as investors were cautious going into next week's Federal Reserve meeting, while a warning from Broadcom of a broad weakening in global demand weighed on chipmakers and added to US-China trade…


US denies Tesla, GM, Uber 25pc Chinese tariff relief

WASHINGTON, June 14 — The Trump administration is expanding efforts to block the use of Chinese technology in advanced vehicles, denying additional requests by Tesla Inc for tariff relief on key components of its electric vehicles, and rejecting…


Uber eyes drones for food delivery, unveils new autonomous car

WASHINGTON, June 13 — Uber said yesterday it plans to speed up restaurant meal delivery by using drones for its Uber Eats service, in the latest effort by the ride-hailing giant to disrupt the transport sector. At its Uber Elevate Summit, the…


Uber hurt by political ‘market swirl’ after IPO, says CEO

WASHINGTON, June 11 — Uber chief executive Dara Khosrowshahi said today the company’s slump following its share offering last month was due to a “market swirl” over tariffs that won’t affect its long-term performance. Speaking at a…


Uber loses US$1b in quarter, hitting forecast, as revenue rises 20pc

SAN FRANCISCO, May 31 — Uber Technologies Inc reported a US$1 billion (RM4.18 billion) loss and a 20per cent rise in revenue yesterday in its first quarterly report as a public company, in line with the ride-hailing service’s forecasts. Revenue…


As bitcoin gyrates, less euphoria in evidence at blockchain gathering

NEW YORK, May 18 — The vibe at a gathering this week for blockchain enthusiasts felt decidedly less exuberant than its predecessor a year ago after dizzying swings in bitcoin. Last year’s Consensus blockchain conference took place just four…


Wall Street rises for third straight day on data, earnings

NEW YORK, May 17 — Wall Street closed higher yesterday as upbeat earnings and strong economic data put investors in a buying mood, with technology companies leading the charge. All three major US stock indexes pared gains late in the session,…


German startup to offer electric air taxis ‘by 2025’

BERLIN, May 16 — German startup firm Lilium announced today the maiden flight of its all-electric pilotless jet-powered ‘air taxi’ which it hopes to operate in various cities around the world ‘by 2025’. The five-seater prototype could face…


Wall Street ends higher as trade worries ease

NEW YORK, May 16 — US stocks closed higher yesterday as reports that US President Donald Trump would hold off on imposing tariffs on imported cars and parts eased growth concerns even as economic data disappointed investors. All three major US…