Technology News


China LeEco’s sports unit says valued at $3.5 billion after new funding round

BEIJING/SHANGHAI (Reuters) – Chinese tech conglomerate LeEco’s sports unit said it completed a new round of funding that valued it at 24 billion yuan ($3.50 billion) and that its investors will form a new committee to supervise its finances.


Japan, South Korea drive global bitcoin prices as retail investor pile in

HONG KONG (Reuters) – Japanese and South Korean buying helped drive the price of bitcoin to an all-time high this week, with the digital currency more than doubling its value since the start of the year, analysts and market practitioners said on Friday.


Samsung Electronics to set up fund to help suppliers amid Moon’s reform push

SEOUL (Reuters) – Samsung Electronics Co Ltd said it would set up a 500 billion won ($445 million) fund to help small suppliers, the highest-profile South Korean firm to unveil steps in the wake of new President Moon Jae-in’s call to protect small businesses.


China police arrest 44 in $140 million online scam

SHANGHAI (Reuters) – China’s police have arrested 44 people over a scam which saw many as 93,000 people contribute start-up capital to “unfreeze” assets smuggled overseas when the Nationalist government was overthrown in 1949, police authorities said late on Thursday.


Facebook’s Zuckerberg urges Harvard grads to contemplate risk

CAMBRIDGE, Mass. (Reuters) – Facebook founder Mark Zuckerberg returned on Thursday to Harvard University, the school he dropped out of to start the pioneering social network, to urge its graduating class to help create a new social safety net to allow creative risk-taking.


Billionaire Slim eyeing electric taxi to reduce pollution in Mexico City

MEXICO CITY (Reuters) – Giant Motors, an automaker partially owned by Mexican billionaire Carlos Slim, is working on a prototype electric taxi to replace the gas-guzzling cabs polluting Mexico City’s air, a company executive said.