Technology News


China fund managers slash ZTE valuation after U.S. sanction

SHANGHAI (Reuters) – Chinese funds have slashed valuations of ZTE Corp after the United States banned American companies from selling components to the telecoms equipment maker for seven years, a move ZTE said threatened its very survival.


Toshiba still aiming to complete sale of memory chip unit soon

TOKYO (Reuters) – Toshiba Corp said on Monday it is still aiming to complete the sale of its memory chip business soon, following media reports it had decided to cancel the $18.6 billion sale if it did not get approval from Chinese regulators by May.


Australian regulator flags scrutiny of Uber Eats

SYDNEY (Reuters) – The head of Australia’s competition regulator said on Monday it will scrutinize contracts between Uber Technologies Inc [UBER.UL] and restaurants that use its food delivery app Uber Eats.


UK finance firms urged to work together to fight cyber crime

LONDON (Reuters) – Britain’s financial firms need to pull together to fight cyber crime, working with government and law enforcement to attack criminals’ infrastructure and put them out of business, a report by KPMG and industry body UK Finance said on Monday.


Iran central bank bans cryptocurrency dealings

DUBAI (Reuters) – Iran’s central bank has banned the country’s banks from dealing in cryptocurrencies, including Bitcoin, over money-laundering concerns, the state news agency IRNA reported on Sunday as the country tries to halt a currency crisis.


Amazon to double down on groceries; foray deeper into fresh produce in India

BENGALURU (Reuters) – Amazon.com Inc expects groceries and household products to account for over half of its business in India in the next five years, as it moves to broaden offerings in the segment and foray into areas such as fresh produce.