Travis Kalanick stepped down Tuesday as chief executive of Uber, the ride-hailing service that he helped found in 2009 and that he built into a transportation colossus, after a shareholder revolt made it untenable for him to stay on at the company. Mr. Kalanick’s exit came under pressure after hours of drama involving Uber’s investors, […]
Read moreCybereason, a Boston-based cybersecurity firm specializing in end-point detection and response to digital security breaches, on Wednesday announced it secured a $100 million funding from Japanese telecommunications firm SoftBank Corp — a subsidiary of SoftBank Group. The start-up has raised a total of $189 million in funding to-date, and its backers also include Charles River […]
Read moreScott Forstall, the former head of iOS software at Apple, said on Tuesday that the reviews of the original iPhone “didn’t get it.” In a conversation with former New York Times reporter John Markoff at the Computer History Museum in Mountain View, California, Forstall said that while he was “unconcerned” with the reviews, he felt […]
Read moreMSCI unveiled plans to gradually add mainland Chinese shares to its benchmark emerging markets index, injecting buzz into the market, but the stamp of approval may not help investors, say critics. The index giant will add 222 China A Large Cap stocks — including Bank of China and Tsingtao Brewery — on a gradual basis […]
Read moreSaudi Arabia has relieved Muhammad bin Nayef from his role as crown prince, replacing him with Mohammad bin Salman, according to a royal decree published by state news agency SPA. Bin Salman, 31, has been his country’s defense minister and deputy crown prince, and was recently credited with a “huge success” for President Donald Trump’s […]
Read moreTroubled Japanese conglomerate Toshiba on Wednesday announced it has selected a consortium led by the public-private Innovation Network Corporation of Japan (INCJ) as a preferred bidder for its prized memory chip business. The consortium consists of the INCJ, Bain Capital Private Equity and the Development Bank of Japan. In a statement, Toshiba said it determined […]
Read moreTesla on Tuesday confirmed that it had hired a major figure in artificial intelligence (AI) to be its new head of AI and Autopilot vision. Andrej Karpathy, who is joining from nonprofit research lab OpenAI, has done extensive work in trendy areas in AI such as reinforcement learning and generative adversarial networks (GANs). Before joining […]
Read moreThe founder and chairman of developer China Vanke, Wang Shi, said he will step down from the board following a long power struggle over the company’s ownership. “Today, Vanke announced a new board of directors of the candidate list. When I was considering the list of board of directors, I have decided to no longer […]
Read moreSouth Korea’s military said on Wednesday a drone found earlier this month on a mountain near the Demilitarized Zone border was confirmed to have been from North Korea and described it as a “grave provocation” that violated the Korean War truce. The drone crashed while returning to the North and was found equipped with a […]
Read moreAbout $17 billion to $18 billion should initially flow into mainland China’s stock market once some of those stocks are added to the key MSCI Emerging Markets Index, an MSCI executive said Tuesday. MSCI announced earlier Tuesday a long-awaited decision in favor of addingstocks, known as A shares, to the firm’s emerging markets index, which […]
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