Technology

  Bloomberg Cisco Systems Inc., the biggest maker of equipment that runs the internet, plans to cut about 7 percent of its workforce, trying to recast itself as a provider of software-based systems and services. The company will eliminate 5,500 positions from its workforce of more than 73,700, Cisco said Wednesday in a statement. Savings from the job reductions will …

  Bloomberg Lenovo Group Ltd. expects its loss-making smartphone business to turn a corner next fiscal year as it shifts toward higher-end devices and ramps up marketing in the US and China. The world’s largest PC maker is counting on a revival of the Motorola smartphone business it bought for $2.8 billion to make up for a declining computer industry. …

  Bloomberg SoftBank Group Corp.’s Masayoshi Son has a 300-year plan, so if combining Sprint Corp. and T-Mobile US Inc. takes a few years longer than he hoped, that’s OK. Son, who became one of the world’s wealthiest men by turning Tokyo-based SoftBank into a telecommunications and technology powerhouse, still would like to merge the U.S. wireless providers, according to …

  Bloomberg Ford Motor Co., which put the world on wheels a century ago, is now taking the driver out of the driver’s seat. The company said it plans to have a fully autonomous vehicle — no steering wheel, no gas or brake pedals — available by 2021 for ride-hailing services. “We see the autonomous car changing the way the …

  Bloomberg A former top executive behind China’s biggest acquisition of an overseas carmaker is setting out to make history twice, raising $1 billion in an initial fundraising round as the latest homegrown electric vehicle startup to challenge Tesla Motors Inc. Freeman Shen left Volvo Cars owner Zhejiang Geely Holding Group Co. in 2014 and last year founded WM Motor, …

  Bloomberg A year-old technology firm wants to simplify currency markets by streamlining the way trading data is stored using blockchain-based technology. Cobalt DL, a London-based firm created last year by former Traiana Inc. Chief Executive Officer Andy Coyne, announced Wednesday that it began beta testing on a distributed ledger network, which the firm hopes can cut post-trade costs and …

  Bloomberg Airbnb Inc. is pressing ahead with plans to expand into new travel services including restaurant reservations and city tours, transforming the company from a single-minded home-rental service to a multipurpose trip planner. The company is testing a standalone mobile app for finding and organizing travel plans, highlighting the importance of the initiative to the company. A test version …

  AFP China launched the world’s first quantum satellite on Tuesday, state media reported, in an effort to harness the power of particle physics to build an “unhackable” system of encrypted communications. The launch took place at 1:40 am in the southwestern Gobi Desert, the official Xinhua news service said, and comes as the US, Japan and others also seek …

  Bloomberg Google nailed e-mail with the 2004 introduction of Gmail. Now it’s the No. 1 form of electronic correspondence in the US. But as traditional e-mail falls out of favor with a growing sliver of the population, Google has struggled to make its messaging tools relevant or introduce new ones that resonate with younger users. Now Google is trying …

  AFP China leads the world in connecting everyday devices to the internet, but is creating huge hacking vulnerabilities for itself and others by doing so, renegade American software pioneer John McAfee warned. Hackers had already been able to gain control of devices such as safes and heating controls, and take over the computer systems of automobiles and aeroplanes, he …