Technology

BLOOMBERG Amazon.com Inc is cutting hundreds of employees in the division responsible for its voice-activated Alexa assistant, according to a memo sent to employees. Daniel Rausch, an Amazon vice president who leads teams working on Alexa and the company’s Fire TV streaming franchise, said the company was “shifting some of our efforts to better align with our business priorities,” including ...

BLOOMBERG Adobe Inc’s $20 billion buyout of Figma Inc, a smaller maker of cloud-based design software, risks being derailed by European Union merger watchdogs unless the firms fix a list of competition concerns highlighted by the bloc’s antitrust arm. The European Commission issued a so-called statement of objections, highlighting how Adobe’s largest deal ever could imperil fair competition in the ...

BLOOMBERG Xiaomi Corp posted its first revenue gain in almost two years, a welcome boost for a smartphone maker that’s begun aggressively attacking its Chinese rivals with higher-end models at home and abroad. It posted sales of 70.9 billion yuan ($9.9 billion) for the September quarter, versus average projections for 70.5 billion. Net income was 4.9 billion yuan, compared with ...

BLOOMBERG Sony Group Corp raised its full-year outlook for sales and profit after its media divisions outperformed, yet warned that it might be difficult to meet a target for PlayStation 5 sales ahead of the crucial year-end holiday season. Sony is now targeting net sales of ¥12.4 trillion ($82.1 billion) in the year ending March, up from ¥12.2 trillion and ...

BLOOMBERG Meta Platforms Inc, Apple Inc, Alphabet Inc and other companies that offer digital wallets and payment apps would fall under US Consumer Financial Protection Bureau (CFPB) supervision under a newly proposed rule aimed at treating nonbanks more like traditional counterparts. Companies handling more than 5 million transactions per year would be regulated like banks, credit unions, and other financial ...

BLOOMBERG There is growing evidence that Apple Inc’s latest iPhone is falling shy of its predecessor in China, suggesting a setback for the world’s most valuable company in its most important overseas market. The iPhone 15 series saw a 6% decline in sales in its launch month compared with the prior year, according to data from market researcher GfK that ...

BLOOMBERG Apple Inc is set to capitalise on a computer market resurgence when the company unveils two new Macs and processors on Monday. The company will hold an online event at 5 pm California time — dubbed “Scary Fast” —  where it’s poised to announce a new iMac and updates to its high-end MacBook Pro. Apple also is slated to ...

BLOOMBERG In the ballroom of the five-star Shangri-La Singapore hotel, Anthony Tan celebrated a triumph for the country’s up-and-coming tech scene. “Today we shine a spotlight on Southeast Asia!” he told the adoring crowd. His company, Grab, the region’s answer to Uber, was about to make its stock market debut. Tan had launched Grab Holdings Ltd in 2012, just as ...

BLOOMBERG India’s government will probably scale back on its investment spending in the coming years as it curbs its budget deficit, said Goldman Sachs Group Inc, giving the private sector scope to pick up the slack. With the government of Prime Minister Narendra Modi planning to reduce the fiscal shortfall by about 1.5 percentage points over the next two years, ...

BLOOMBERG When India decided to make a concerted push to green the world’s biggest two-wheeler market, a slew of electric scooter startups emerged almost overnight. Now, many are falling out of favor for sourcing parts from China instead of locally. The government is demanding that six companies — including Hero Electric Vehicles Pvt, once India’s top e-scooter maker — return ...