Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Tech Services"


25 mentions found


China's central bank said that financial regulators would fine Ant and its subsidiaries a total of 7.12 billion yuan, require it to stop operations of its crowdfunded medical aid service Xianghubao and compensate users. Reuters reported earlier, citing sources, that Chinese authorities intended to unveil its fine on Ant as early as Friday. The sources had earlier said that the fine on Ant had been revised to at least 8 billion yuan. Reuters reported in April that Chinese regulators were considering fining Ant about 5 billion yuan, a lower sum than what they initially had in mind. Alibaba was fined a record 18 billion yuan in 2021 for antitrust violations.
Persons: China c.bank, Ant, Ping, Rukim Kuang, Jack Ma, Jeffrey Towson, Pan Gongsheng, Pan, Didi Global, Alibaba, Julie Zhu, Jane Xu, Jason Xue, Kevin Huang, Meg Shen, Twinnie Sui, Josh Ye, Ethan Wang, Muralikumar Anantharaman, Brenda Goh, David Holmes, Susan Fenton Organizations: Ant, Singapore FinTech Festival, REUTERS, Ant Group, People's Bank of China, Reuters, Ping An Bank, PICC, HK, Postal Savings Bank, Tencent Holdings, Alibaba, Hong Kong, Financial Regulatory Administration, State Council, Lens Consulting, Thomson Locations: Singapore, China, HONG KONG, Ant's, Hong, Beijing, CHINA
Reuters reported earlier, citing sources, that Chinese authorities intended to unveil its fine on Ant as early as Friday. The National Financial Regulatory Administration (NFRA), a new government body under the State Council, is now the primary regulator to grant Ant the license, they added. The sources had earlier said that the fine on Ant had been revised to at least 8 billion yuan. Reuters reported in April that Chinese regulators were considering fining Ant about 5 billion yuan, a lower sum than what they initially had in mind. Alibaba was fined a record 18 billion yuan in 2021 for antitrust violations.
Persons: China c.bank, Ant, Ping, Rukim Kuang, Jeffrey Towson, Jack Ma, China's, Pan Gongsheng, Pan, Didi Global, Alibaba, Julie Zhu, Jane Xu, Jason Xue, Kevin Huang, Meg Shen, Twinnie Sui, Josh Ye, Ethan Wang, Muralikumar Anantharaman, Brenda Goh, David Holmes, Susan Fenton Organizations: Ant, Singapore FinTech Festival, REUTERS, Ant Group, People's Bank of China, Reuters, Ping An Bank, PICC, HK, Postal Savings Bank, Tencent Holdings, Tenpay, Alibaba, Hong Kong, Lens Consulting, Communist Party, Financial Regulatory Administration, State Council, Thomson Locations: Singapore, China, HONG KONG, Ant's, Hong, Beijing, CHINA
"I decided where the business is, is in space," Mueller said in an interview with CNBC's "Manifest Space" podcast. Mueller started Impulse Space in 2021 and is building space tugs that can move with cargo to different orbits. So far, Impulse Space has raised $30 million in seed funding from investors such as Peter Thiel's Founders Fund and Lux Capital. But that pedigree doesn't mean Impulse is closed off to other startups in the space space – including rocket makers. Earlier this month Vast Space, which is building a commercial space habitat, selected Impulse to develop the Haven-1 Space Station's propulsion system.
Persons: Elon Musk, Tom Mueller, Mueller, Peter Thiel's, Mira, Morgan Brennan, Merlin, Musk Organizations: SpaceX, Fund, Lux Capital, Tesla, PayPal, TRW, CNBC Locations: Haven
A person who works with the group, American Edge Project, told CNBC that the $34 million was from Facebook. A Meta spokesman declined to comment and referred CNBC to American Edge instead. The person who works with American Edge told CNBC that the $4 million was also entirely from Facebook. American Edge launched a wave of TV and digital ads from late 2020 through 2021, taking on antitrust proposals. American Edge spent over $5 million between TV and digital ads in 2021, according to data from AdImpact.
Overall revenue for the quarter ended Dec. 31 came in at 144.95 billion yuan ($21.07 billion), higher than the 143.89 billion yuan estimated by FactSet. Average monthly users of WeChat in China and overseas rose by 3.5% from a year ago 1.31 billion accounts in the fourth quarter. Ad spendingIn-feed ads for video accounts generated more than 1 billion yuan in revenue in the fourth quarter, Tencent said. Revenue sourcesThe largest revenue segment, which includes the giant gaming business, fell by 2% to 70.4 billion yuan in the fourth quarter, in line with FactSet estimates for 70.2 billion yuan. Tencent's second-largest revenue source, financial technology and business services revenue fell by 1% to 47.2 billion yuan, below FactSet estimates for 49.49 billion yuan.
A policy rate announcement is expected on Wednesday along with new economic projections, and Federal Reserve Chair Jerome Powell will face the press to answer questions. Is the Fed’s fight against inflation destabilizing the banking system? The US banking system is under a lot of pressure right now. Lagarde opted to portray that rate increase as a signal that the financial system remains strong. Yet, ironically, the banking mess is now helping tech companies and cryptocurrencies as investors flock out of the banking system in search of alternative safe spaces to store their cash.
Crypto founders face dwindling banking options after the collapses of Silvergate and Signature Bank. After back-to-back collapses of several crypto- and startup-friendly banks — Silvergate, Signature, and Silicon Valley Bank — crypto founders face a huge void. Silvergate and Signature, in particular, filled a vital role in the financial system for crypto startups, several founders told Insider. Well before the collapse of SVB and downfall of Signature, crypto founders had found banking havens outside the US in locales such as Dubai and Singapore. "It's a recurring conversation that crypto companies have that are based out of the states," she said.
Feb 28 (Reuters) - Bitwise Industries, a tech service provider that trains workers in underrepresented communities, has raised $80 million in a funding round led by existing investors Kapor Center and Motley Fool, the company told Reuters. Goldman Sachs Asset Management (GS.N) and Citibank (C.N) also participated in the round, which brought its total funding to $180 million. Founded in Fresno, California by Irma Olguin Jr and Jake Soberal, Bitwise invests in tech real estate, runs apprentice programs for marginalized communities and sells managed tech services to government and traditional businesses. The company said it supported the training of over 10,000 individuals, 80% of whom have received technical employment. The training program, supported by government workforce upskill funding and tech corporate funding, usually takes about 12-18 months to complete.
Bill Gates - American business magnate and cofounder of MicrosoftBill Gates thinks AI has the power to change the world. Taylor Hill/Getty ImagesBill Gates thinks AI has the power to change the world. Gates said that AI is "every bit as important as the PC, as the internet," Forbes reported. Still, Gates said ChatGPT is "truly imperfect" and has seen it answer math questions "completely wrong." In terms of jobs, Gates said AI can "change our world" by making work more efficient, he told German newspaper Handelsblatt.
Construction-tech startup Suppli has raised $3.1 million in seed funding led by Equal Ventures. But his new startup, Suppli, is also at the forefront of a hot investment trend this year. Suppli, which makes credit-management tools for companies that sell and procure construction materials, has raised a $3.1 million seed round led by Equal Ventures. Having that customer list turned out to be critical a year later as they raised their seed round, Ayers said, given the shift to caution among investors. That's the same opportunity Skafidas and Ayers saw when they decided to take the plunge into entrepreneurship.
The roundtable featured the mother of a child who died after taking a drug containing fentanyl allegedly purchased over Snapchat, apparently believing it was a prescription painkiller. "Big Tech has many problems," said Carrie Goldberg, a lawyer who works on cases seeking to hold tech platforms accountable for often offline harms. Bloomberg reported Wednesday that the Federal Bureau of Investigation and Department of Justice are also investigating Snap's role in fentanyl sales. That's because it does not incentivize safety features, she said, and also prevents tech platforms from reaching the discovery stage in many cases, which could otherwise reveal internal information. But legislation weakening encryption for law enforcement investigations would also likely be at odds with the committee's other goal of increasing digital privacy protections.
Investors are locking in expectations that the Fed will downshift its interest rate hike in February. The December core rate was 0.3% on a monthly basis, up from 0.2% in November. Shelter inflation that monitors costs for renters and homeowners climbed 0.8%. "Bond yields moving lower, the VIX moving lower and the dollar moving lower suggests that the iceberg of fear that we've seen for the last year almost is easing," Russell said. "The market looks out and they see a scenario of lower inflation … they see that we're getting to the end of this aggressive rate hiking."
There's a strong interest from acquirers in hot trends like commerce media and data consultancy. Experts predicted the companies most likely to be acquirers of advertising businesses in 2023. Many industry observers expect advertising industry M&A deal volume and value to be down next year due to volatile macroeconomic conditions. Experts across the advertising industry — from consultants, to agency executives, analysts, investors, and adtech leaders — named the companies likely to be active in the advertising M&A market in 2023 and why. Apple could make an under-the-radar adtech acquisition for its sleeping giant advertising businessIndustry insiders predict Apple has big plans for its $5 billion-and-growing advertising business next year.
Technology and entertainmentYou can also give your child's teacher a gift card they can use for entertainment. If your child's teacher already has one of these subscriptions, they can put the gift card toward their account balance. A gift card to Ticketmaster will give your child's teacher the opportunity to put money toward a live show of their choice. Gift cards from merchants like Audible or Bookshop.org will give your child's teacher an engaging way to pass their commute. Gift cards from educational retailers like Lakeshore and Teachers Pay Teachers will help your child's teacher offset classroom costs.
BRUSSELS, Nov 25 (Reuters) - EU antitrust regulators cleared with conditions French car leasing company ALD's (ALDA.PA) bid for Dutch rival LeasePlan on Friday after the Societe Generale (SOGN.PA) unit agreed to divest some businesses across Europe to address competition concerns. ALD announced the 4.9-billion-euro ($5.1 billion) deal in January, which would give it ownership of the biggest electric vehicle fleet in Europe. The European Commission said ALD agreed to sell its operational leasing businesses in Ireland, Norway, Portugal and LeasePlan's businesses in the Czech Republic, Finland and Luxembourg to address competition worries. It will also provide access to tech services and its used car sales platform for up to 2 years. "These commitments remove the overlaps existing between ALD and LeasePlan's activities in the national markets for operational leasing where the Commission had identified competition concerns," the EU competition watchdog said in a statement.
Insider analyzed US work-visa data to gauge salary levels at TikTok and parent company ByteDance. The data show TikTok and ByteDance offered staffers on US work visas $30 an hour to $400,000 a year. And TikTok has begun to get into its stride with advertisers who are now taking it more seriously as a marketing platform. Based on the data, TikTok and ByteDance offered from late-2020 to mid-2022 base salaries ranging from $30 per hour to $400,000 per year for various roles. TikTok's median annual base salary was roughly $184,000 per year, based on data from 319 foreign-labor certification applications.
Organizations: & $, & $
Burger King's owner recently opened its first ghost kitchen, or digital food hall, in Miami. And recently, the parent of Burger King, Restaurant Brands International, opened its first ghost kitchen in Miami. Wonder is part ghost kitchen, part food delivery van, part meal-kit provider. These ghost kitchens on wheels, outfitted with cooking equipment and chefs, can be hailed through an app. The company, which ended its partnership with Miami-based Reef Technology this year, is not labeling the facility as a ghost kitchen.
Talent supply should improve into 2023, says Capgemini CEO
  + stars: | 2022-10-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTalent supply should improve into 2023, says Capgemini CEOAiman Ezzat, CEO of Capgemini, discusses the outlook for recruitment in the tech services sector as the company reports third-quarter earnings.
Cloud Growth Continues Amid Tough Time for Tech
  + stars: | 2022-10-27 | by ( Steven Rosenbush | ) www.wsj.com   time to read: +3 min
The growth of cloud computing has slowed a bit this year but remains one of the most resilient sectors in a generally tough environment for technology companies. That outpaces overall company sales growth of 15%. Spending on cloud computing “will fluctuate with the broader economic picture,” Mr. Sustar said. People might want to rationalize their cloud spending, but overall cloud growth will continue and be a larger and larger part of the IT budget,” he said. In other words, cloud growth will continue, but it won’t look like a bubble.
The growth of cloud computing has slowed a bit this year but remains one of the most resilient sectors in a generally tough environment for technology companies. That outpaces overall company sales growth of 15%. Spending on cloud computing “will fluctuate with the broader economic picture,” Mr. Sustar said. People might want to rationalize their cloud spending, but overall cloud growth will continue and be a larger and larger part of the IT budget,” he said. In other words, cloud growth will continue, but it won’t look like a bubble.
Apple (AAPL), Amazon (AMZN), Facebook (FB)-parent Meta, Microsoft (MSFT), Twitter (TWTR) and Google-parent Alphabet (GOOGL) will each report earnings results the following week. “People probably should be bracing themselves for these results,” said Scott Kessler, technology global sector lead at research firm Third Bridge Group. Rampant inflation is eating away at consumers’ paychecks and reducing their ability to spend freely on tech products and services. To make matters worse, tech companies must also confront the growing strength of the US dollar, which is currently trading at its highest level in two decades. Many of the issues currently weighing on tech companies are unlikely to let up anytime soon, which is why industry watchers will be paying close attention to the guidance these companies offer for the rest of 2022.
Credit Suisse considers Allfunds disposal, Cinco Dias reports
  + stars: | 2022-10-14 | by ( ) www.reuters.com   time to read: +1 min
MADRID, Oct 14 (Reuters) - Credit Suisse is considering selling its stake in Madrid-based tech company Allfunds (ALLFG.AS) to raise cash, Spanish newspaper Cinco Dias reported on Friday, citing unidentified market sources. The Swiss bank holds an 8.56% stake in Allfunds, worth about 380 million euros ($372 million) at the current market price, Refinitiv data shows. Register now for FREE unlimited access to Reuters.com RegisterShares in Allfunds, which provides tech services to asset management companies, have declined 58% this year. A spokesperson at Credit Suisse declined to comment and an Allfunds representative did not respond immediately to a request for comment. ($1 = 1.0212 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Inti Landauro Editing by Jesús Aguado and David GoodmanOur Standards: The Thomson Reuters Trust Principles.
N-iX, an IT firm with a big presence in Lviv, described how it'd managed amid the latest attacks. But like many Ukrainian companies, N-iX was prepared with a contingency plan that allowed it to continue servicing clients in the attack's aftermath. "It started in the morning," Deshchynskyy told Insider. Ukrainian tech workers and companies have rallied to help the war effort, including by joining the "IT army" and providing tech services for the military. And just two weeks ago, N-iX was the main partner at the annual IT Arena tech conference, which was held in Lviv.
Talk of a recession, rough inflation data, and the persistent increase in costs of certain staple goods has got Wall Street's biggest investors living in fear of an economic nightmare. Wall Street has been hit by a brutal market sell-off this year. Wall Street investors fear an economic nightmare. BMO Capital Markets is cutting jobs amid the broader downturn in dealmaking, according to Bloomberg. Private-equity investment firm Corsair has made an investment in Miracle Mile Advisors, a wealth advisory firm based in Los Angeles.
Burger King's owner recently opened its first ghost kitchen, or digital food hall, in Miami. Meet 7 nontraditional ghost kitchen startups. And, recently, the parent of Burger King, Restaurant Brands International, opened its first ghost kitchen in Miami. These ghost kitchens on wheels, outfitted with cooking equipment and chefs, can be hailed through an app. The company, which ended its partnership with Miami-based Reef Technology this year, is not labeling the facility as a ghost kitchen.
Total: 25