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End of a chip boom? Memory chip price drop spooks investors

SEOUL (Reuters) - After a blistering year-and-a-half long surge, a sudden drop in some memory prices, followed by Samsung Electronics Co’s disappointing profit estimate, is causing jitters among investors who had bet the chip boom would last at least another year. Amid news that the market has started losing some steam - prices of high-end flash memory chips, which are widely used in smartphones, dropped nearly 5 percent in the fourth quart...
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Exclusive: Current and former Uber security staffers cast doubt on spying claims

SAN FRANCISCO (Reuters) - The former security chief of Uber Technologies Inc. [UBER.UL] swore in a closed legal proceeding that he knew of no attempts to steal trade secrets from anyone, including Alphabet Inc’s self-driving unit Waymo, and would be “shocked” if that had occurred. In a deposition taken in mid-December near San Francisco, Joe Sullivan, Uber’s security chief from 2015 to 2017, said that the most explosive claims made by anoth...
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Facebook, Alphabet shifted in sector classification system

SAN FRANCISCO (Reuters) - S&P Dow Jones Indices and MSCI said on Thursday they would rename their Telecommunication Services Sector and add Comcast Corp, Netflix, Facebook and Alphabet to the newly broadened category. In an overhaul of the Global Industry Classification Standard, or GICS, an industry taxonomy widely used by investors, the Telecommunication Services Sector will be expanded and renamed Communication Services, S&P Dow ...
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Jimmy Iovine says not leaving Apple: Variety

(Reuters) - Music mogul Jimmy Iovine is committed to staying at Apple Inc’s music streaming service, according to a report by Variety on Tuesday. "I am committed to doing whatever Eddy [Cue], Tim [Cook] and Apple need me to do, to help wherever and however I can, to take this all the way," Iovine told the publication in an interview. ( bit.ly/2CX1xmI ) Last week, Billboard magazine reported that Iovine would leave Apple Music in August. The...
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Trump tells farmers he supports crop insurance

NASHVILLE (Reuters) - U.S. President Donald Trump on Monday told farmers gathered in Tennessee that he supports crop insurance, signaling a possible shift from his proposals last year to shrink a program that many farmers rely on for funding their operations. Speaking at the American Farm Bureau’s annual convention, Trump said Congress would include the subsidies for crop insurance premiums in the upcoming “farm bill” that directs billions ...
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U.S. company plans funds that double bitcoin price moves

NEW YORK (Reuters) - U.S. fund managers are ramping up efforts to tap into the fever surrounding digital assets, and the latest planned bitcoin products could deliver some head-turning and stomach-churning price movements if they come to market. The new idea is to build “leveraged” and “inverse” funds that would rise - or fall - twice as fast as the price of bitcoin on a given day. Direxion Asset Management LLC plans to list such products o...
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Indonesia's new cyber agency looks to recruit staff of hundreds

JAKARTA (Reuters) - Indonesia’s recently established cyber security agency will recruit hundreds of personnel in the coming months, its chief said on Friday. The agency has been set up amid rising concern over online misinformation and hoaxes ahead of simultaneous local elections set to take place across the country later this year. The head of the National Cyber and Encryption Agency, Djoko Setiadi, who was sworn in this week, will report ...
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AT&T to launch 5G in U.S. by late 2018

(Reuters) - AT&T Inc, the No. 2 U.S. wireless carrier, said it would launch fifth-generation (5G) mobile network service in a dozen cities in the United States by late 2018, after international wireless standards for the network were finalised last month. The 5G technology is expected to provide higher speed and response times than 4G networks used today. Reporting by Rama Venkat Raman in Bengaluru; Editing by Amrutha Gayathri Our Stand...
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Amazon says over 5 billion items shipped in 2017 via Prime

(Reuters) - Online retailer Amazon.com Inc ( AMZN.O ) said on Tuesday it shipped over 5 billion items worldwide via its subscription based Prime service in 2017 while adding more new members than ever before. The e-commerce giant, which revealed its Prime shipment numbers for the first time, did not give comparable full-year shipment number for 2016. Amazon claimed that its Fire TV Stick and voice controlled smart device Echo Dot were the b...
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WhatsApp messaging service returns after global outage

(Reuters) - WhatsApp, a popular messaging service owned by Facebook Inc, suffered a global outage for about an hour on Sunday before the problem was fixed. “WhatsApp users around the world experienced a brief outage today that has now been resolved”, a WhatsApp spokeswoman said in an emailed statement. The cause of the outage, about an hour long, was not immediately known. In India, its biggest market with about 200 million of its billion-p...
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Infineon not vulnerable to takeover: CEO in Boersen-Zeitung

FRANKFURT (Reuters) - German chipmaker Infineon does not see itself as vulnerable to a takeover despite mega-mergers in the sector led by Broadcom’s $103 billion offer for Qualcomm, its chief executive told Germany’s Boersen-Zeitung. “Infineon is not a primary takeover target,” Reinhard Ploss told the markets daily in an interview published on Saturday. “We communicate externally very clearly that we can and want to stand on our own two fee...
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Apple apologizes after outcry over slowed iPhones

(Reuters) - Facing lawsuits and consumer outrage after it said it slowed older iPhones with flagging batteries, Apple Inc ( AAPL.O ) is slashing prices for battery replacements and will change its software to show users whether their phone battery is good. In a posting on its website Thursday, Apple apologized over its handling of the battery issue and said it would make a number of changes for customers “to recognize their loyalty and to r...
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Apple faces lawsuits after saying it slows down aging iPhones

SAN FRANCISCO (Reuters) - Apple Inc ( AAPL.O ) defrauded iPhone users by slowing devices without warning to compensate for poor battery performance, according to eight lawsuits filed in various federal courts in the week since the company opened up about the year-old software change. The tweak may have led iPhone owners to misguided attempts to resolve issues over the last year, the lawsuits contend. All the lawsuits - filed in U.S. Distric...
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Russia's Putin calls for Web activities of some firms to be monitored

MOSCOW (Reuters) - President Vladimir Putin said on Monday the Russian authorities should monitor the activity of “some companies” on social media during next year’s presidential election and assess the extent of their involvement in domestic politics. He did not name the companies or say if he was concerned about the activities of foreign or local firms, but Russia has been accused by the United States and other Western nations of meddling...
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China closes more than 13,000 websites in past three years

BEIJING (Reuters) - China has closed more than 13,000 websites since the beginning of 2015 for breaking the law or other rules and the vast majority of people support government efforts to clean up cyberspace, state news agency Xinhua said on Sunday. The government has stepped up already tight controls over the internet since President Xi Jinping took power five years ago, in what critics say is an effort to restrict freedom of speech and p...
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