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LG Tech Top News 

South Korea’s LG Electronics books 14 percent second quarter profit rise, held back by mobiles

July 27, 2017 SEOUL (Reuters) – South Korea’s LG Electronics Inc said on Thursday second-quarter operating profit rose 13.6 percent from a year earlier, as continued losses in the mobile division offset profits in its television set and appliances businesses. LG said April-June profit was 664 billion won ($597 million), in line with its estimate earlier in July. Revenue rose 3.9 percent to 14.6 trillion won, also in line with the company’s previous estimate. (Reporting by Joyce Lee; Editing by Richard Pullin) Powered by WPeMatico

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China Hony Capital Elzio Barreto Greenland Group Julie Zhu Tech Top News 

WeWork launches China unit with $500 million funding from Hony, SoftBank

July 27, 2017 By Julie Zhu and Elzio Barreto HONG KONG (Reuters) – Co-working space startup WeWork said on Thursday it has set up a Chinese unit with the backing of China’s Hony Capital and Japan’s SoftBank Group Corp to tap booming demand for shared office space in the world’s second-largest economy. SoftBank and Hony Capital, one of China’s largest private-equity firms, led a $500 million investment to set up WeWork China. The funds will be used to expand beyond current locations Beijing and Shanghai to at least five more…

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Apple Business Jussi Rosendahl network Tech Top News 

Nokia beats quarterly market forecasts but lowers networks outlook

July 27, 2017 HELSINKI (Reuters) – Finnish network equipment maker Nokia reported larger than expected quarterly profits on Thursday thanks to a patent deal with Apple along with improving profitability at its network business but warned its key market would slow. Second-quarter group earnings before interest and taxes (EBIT) rose 73 percent from a year ago to 574 million euros ($674 million), clearly above analysts’ average forecast of 447 million euros in a Reuters poll. However, Nokia said the global network market would be more challenging in the full year…

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Business greece Russian Tech Top News U.S. 

U.S. indicts suspected Russian ‘mastermind’ of $4 billion bitcoin laundering scheme

July 27, 2017 By Jack Stubbs, Karolina Tagaris and Anna Irrera NEW YORK/ATHENS/MOSCOW (Reuters) – A U.S. jury indicted a Russian man on Wednesday as the operator of a digital currency exchange he allegedly used to launder more than $4 billion for people involved in crimes ranging from computer hacking to drug trafficking. Alexander Vinnik was arrested in a small beachside village in northern Greece on Tuesday, according to local authorities, following an investigation led by the U.S. Justice Department along with several other federal agencies and task forces. U.S….

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Apple Business Japan Display Inc JDI Tech Top News 

Apple supplier Japan Display seeks $890 million to fund restructuring: source

July 27, 2017 By Taro Fuse TOKYO (Reuters) – Loss-making Japan Display Inc is seeking about 100 billion yen ($890 million) from its main creditors to fund restructuring, a source with direct knowledge of the request said. Fresh funds for the firm, which has been hurt by its late entry into organic light-emitting diode screens (OLED) and fluctuating demand for Apple’s iPhones, would come on top of 75 billion yen in aid late last year from its main investor – the state-backed Innovation Network Corp of Japan (INCJ). The liquid…

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cyber government Russian Tech Top News U.S. 

U.S. treads water on cyber policy as destructive attacks mount

July 26, 2017 By Joseph Menn SAN FRANCISCO (Reuters) – The Trump administration’s refusal to publicly accuse Russia and others in a wave of politically motivated hacking attacks is creating a policy vacuum that security experts fear will encourage more cyber warfare. In the past three months, hackers broke into official websites in Qatar, helping to create a regional crisis; suspected North Korean-backed hackers closed down British hospitals with ransomware; and a cyber attack that researchers attribute to Russia deleted data on thousands of computers in the Ukraine. Yet neither…

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Chris Handman Hogan Lovells Snapchat Tech Top News 

Snap General Counsel Chris Handman steps down

July 26, 2017 (Reuters) – Snap Inc said its general counsel Chris Handman stepped down to spend more time with his family. Handman, who played a key role in taking the owner of Snapchat public, was with the company since May 2014. Earlier he was a partner at law firm Hogan Lovells for 14 years. (Reporting by Mekhla Raina; Editing by Gopakumar Warrier) Powered by WPeMatico

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case offer report Tech Top News U.S. 

Wall Street regulator sets sights on digital coin offerings

July 26, 2017 By Gertrude Chavez-Dreyfuss and Anna Irrera (Reuters) – Wall Street’s main regulator said on Tuesday that initial coin offerings (ICOs), a means of crowdfunding for blockchain technology companies, should be subject to the same safeguards required in traditional securities sales. ICOs have become a bonanza for digital currency entrepreneurs, allowing them to raise millions quickly by creating and selling digital “tokens” with no regulatory oversight. But the Securities and Exchange Commission (SEC) has said that the tokens can be considered securities, and therefore, may need to be…

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government Luis Guillermo Velez Mexico America Movil state Tech Top News 

Colombian tribunal fines Claro, Movistar over contract

July 26, 2017 BOGOTA (Reuters) – A Colombian tribunal on Tuesday ruled telephone companies Claro and Movistar must pay the government $1.55 billion for failing to meet contractual conditions for cellular services, a government official said. An arbitration court said the two companies failed to return installed networks and infrastructure as part of agreements to provide cellular phone service more than a decade ago, Luis Guillermo Velez, director of the government’s legal defense agency, told reporters. Claro, a unit of Mexico’s America Movil must pay $1.02 billion, and Movistar, part…

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Kaspersky Lab Russian Tech Top News U.S. United States 

Russia’s Kaspersky Lab launches free antivirus software globally

July 26, 2017 By Dustin Volz LAS VEGAS (Reuters) – Moscow-based Kaspersky Lab on Tuesday announced it was rolling out a free version of its antivirus software across the globe, a product launch that comes amid mounting suspicion in the United States that the cyber firm is vulnerable to Russian government influence. Kaspersky Free was immediately available in the United States, Canada, and several Asia Pacific countries and would launch in other regions in the coming months, Eugene Kaspersky, the company founder, wrote in a blog post. ( Kaspersky said…

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