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Alibaba to invest $320 million in Thailand, as rivals boost presence

BANGKOK (Reuters) - Alibaba is investing $320 million in Thailand as the e-commerce giant aims to tap Chinese consumers’ appetite for the Southeast nation’s agricultural goods and for its tourism market amid growing competition from rivals. Jack Ma, founder of e-commerce giant Alibaba, talks during the MoU's Signing Ceremony of "Smart Digital Hub and Digital Transformation Strategic Partnership" in a hotel at Bangkok, Thailand April 19, 201...
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IBM full-year profit forecast misses, shares fall

(Reuters) - International Business Machines Corp ( IBM.N ) reported full-year profit forecast that missed Wall Street expectations, sending the shares of the company down 6 percent in extended trading. FILE PHOTO: A man checks his mobile phone outside IBM's booth at the Mobile World Congress in Barcelona, Spain, February 28, 2018. REUTERS/Sergio Perez/File Photo IBM said it continues to expect adjusted earnings per share of at least $13.80,...
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Vivendi 'awful' investor in Telecom Italia: Italian minister to paper

MILAN (Reuters) - Vivendi has been an “awful” investor in Telecom Italia, Italy’s Industry Minister Carlo Calenda told La Repubblica daily on Monday, as the French media group fights to keep its grip on Italy’s biggest phone group. FILE PHOTO: A logo is seen over the main entrance of the entertainment-to-telecoms conglomerate Vivendi's headquarters in Paris April 8, 2015. REUTERS/Gonzalo Fuentes/File Photo Calenda defended the decision of s...
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Musk insists Tesla does not need more capital, predicts profit soon

(Reuters) - Tesla Inc ( TSLA.O ) will be profitable in the third and fourth quarters of this year and will not have to raise any money from investors, billionaire Chief Executive Elon Musk said on Friday, driving shares in the electric carmaker higher. FILE PHOTO: Elon Musk, founder, CEO and lead designer at SpaceX and co-founder of Tesla, speaks at the International Space Station Research and Development Conference in Washington, U.S., Jul...
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AT&T economist argues Time Warner merger is good for consumers

WASHINGTON (Reuters) - AT&T’s ( T.N ) proposed merger with Time Warner Inc ( TWX.N ) would save consumers money because the marriage of a pay-TV provider with a movie and TV giant would create a more efficient company, an economist testifying for AT&T said in court on Thursday FILE PHOTO - An AT&T logo is seen at a AT&T building in New York City, October 23, 2016. REUTERS/Stephanie Keith/File Photo Dennis Carlton, from the U...
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Second day of U.S. congressional hearings awaits Facebook CEO Zuckerberg

SAN FRANCISCO/WASHINGTON (Reuters) - Facebook Inc Chief Executive Mark Zuckerberg returns to Capitol Hill on Wednesday for more questioning by lawmakers who have a rare chance to air grievances about the company directly to the head of the world’s largest social media network. Facebook CEO Mark Zuckerberg is surrounded by members of the media as he arrives to testify before a Senate Judiciary and Commerce Committees joint hearing regarding ...
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Zuckerberg ditches T-shirt, apologizes for Facebook mistakes

WASHINGTON (Reuters) - Facebook Inc Chief Executive Mark Zuckerberg swapped his trademark T-shirt and jeans for a dark suit and a purple tie on Monday as he met U.S. lawmakers to apologize for the social network’s misuse of its members’ data and to head off possible regulation. His apologies precede two days of congressional hearings this week, where Zuckerberg will be asked how 87 million Facebook users’ data was improperly shared with a p...
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Dubai cryptocurrency firm denies Alibaba trademark infringement

DUBAI (Reuters) - A Dubai-based cryptocurrency company called Alibabacoin Foundation has rebuffed allegations of trademark infringement brought against it by the giant Chinese online retailer Alibaba Group Holding ( BABA.N ) in a U.S. lawsuit last week. FILE PHOTO - A sign of Alibaba Group is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 3, 2017. REUTERS/Aly Song A judge at the U.S. District ...
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Chinese Uber rival Didi launches in Mexico, recruits drivers

MEXICO CITY/SAN FRANCISCO (Reuters) - Chinese ride-hailing company Didi Chuxing has publicly launched in Mexico with a website advertising its service to drivers and passengers, setting the stage for a potentially expensive showdown with rival Uber. FILE PHOTO: The logo of Didi Chuxing is seen at its headquarters in Beijing, China, May 18, 2016. REUTERS/Kim Kyung-Hoon/File Photo A spokesman for Didi Chuxing Technology Co told Reuters that t...
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Facebook's Zuckerberg to testify before Congress on April 10-11

WASHINGTON (Reuters) - Facebook Inc Chief Executive Officer Mark Zuckerberg will testify next week before congressional committees over a political consulting firm’s misuse of customer data to interfere in the U.S. presidential election, U.S. lawmakers said on Wednesday. FILE PHOTO: Facebook Founder and CEO Mark Zuckerberg speaks on stage during the annual Facebook F8 developers conference in San Jose, California, U.S., April 18, 2017. REUT...
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