Technology

BLOOMBERG Turkish startup Getir said it struggled to pay some bills in Germany and will cut more than 10% of its global workforce, as the rapid delivery service seeks to raise new funds and attempt to turn around its cash-hungry business. About 2,500 employees will be cut overall, though the company will continue operating in its five current markets, Istanbul-based ...

BLOOMBERG Alibaba Group Holding’s e-commerce arm in China is hiring more than 2,000 graduates amid record youth unemployment and as authorities eased their regulatory crackdown on technology platforms. Taotian Group, the unit which includes Taobao and Tmall, is recruiting the graduates for a range of roles including design, product and data, according to a post on its official recruitment Wechat ...

BLOOMBERG Hon Hai Precision Industry Co now expects 2023 sales to fall after previously forecasting flat revenue, sounding a warning about demand for the devices it makes for Apple Inc and other global firms. Taiwanese company now expects most of its main business segments, including smartphones, to contract “slightly” this quarter and over the entire year, as global economic malaise ...

BLOOMBERG Huawei Technologies Co grew sales for a third straight quarter, after new businesses like cloud services and a resurgent smartphone unit helped mitigate the fallout from US sanctions. Revenue rose 4.8% to 178.8 billion yuan ($24.7 billion) in the three months ended June, according to calculations by Bloomberg News based on the company’s first-half numbers. Net income almost tripled, ...

BLOOMBERG California regulators voted in favour of robotaxi operators expanding their paid driverless services in the city of San Francisco, a major milestone toward commercialising the technology. The state’s Public Utilities Commission voted 3 to 1 to allow General Motors Co’s Cruise LLC and Alphabet Inc’s Waymo to increase the areas of the city where they can operate a car ...

BLOOMBERG Amazon.com Inc is in talks to join other tech companies as an anchor investor in Arm Ltd’s initial public offering, according to a person familiar with the situation, part of preparations for a deal that could raise as much as $10 billion. Amazon is one of several tech companies that have talked to Arm about backing the offering, which ...

BLOOMBERG China’s largest tech companies Alibaba Group Holding Ltd and Tencent Holdings Ltd have gained $66 billion in market value since May’s end, propelled by expectations of a gradual return to pre-crackdown growth and a litany of official promises to unshackle the private sector. Yet some investors warn the celebration may be premature. For the first time since 2021, China’s ...

BLOOMBERG Australia should consider extending a ban on TikTok from government devises to include WeChat, a panel of lawmakers said, in the latest move from Canberra to crack down on potential influence linked to Beijing. A Senate committee urged sweeping changes to Australia’s treatment of major tech firms in its final report. Among proposals are stricter transparency requirements on ownership ...

BLOOMBERG Results from Apple Inc and Amazon.com Inc after the recent close represent the next big hurdle for the market’s tech-fueled rally, and it may be the hardest to clear. Both stocks have been critical to the S&P 500’s advance this year, attracting investors with their relatively durable revenue streams and market dominance. But whether they can fuel further gains ...

BLOOMBERG Samsung Electronics Co introduced the fifth generation of its foldable smartphones, seeking to counter a sluggish market for devices and upcoming rival products from Apple Inc. The new Galaxy Z Flip 5, a 6.7-inch smartphone that folds down into a square shape, now has an external display covering the majority of one side, making it more useful when closed. ...