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Britain's Deliveroo raises $385 million for food fight

LONDON (Reuters) - British food delivery company Deliveroo has raised $385 million in private funding, it said on Sunday, as it prepares for expansion to help it compete with publicly traded rivals such as Delivery Hero and Just Eat. The funding values the business at more than $2 billion and will allow Deliveroo to enter new markets, enlarge its technology team and expand its concept of delivery-only restaurants run out of centralized kitc...
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Britain's minister for London slams 'blanket ban' on Uber

LONDON (Reuters) - A British government minister has criticized the London authorities for deciding to strip Uber of its taxi licence, a major setback to the U.S. technology firm that has become a big player in the city’s transport system. The British capital’s transport regulator deemed Uber unfit to run a tax service and said its licence would not be renewed when it expires on Sept. 30. London Mayor Sadiq Khan, a member of the opposition ...
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Facebook to overhaul political ads, share some with U.S. Congress

SAN FRANCISCO (Reuters) - Facebook Inc ( FB.O ) on Thursday launched an overhaul of how it handles paid political advertisements on the world’s largest social network, responding to criticism that it has not done enough to prevent the manipulation of elections. Chief Executive Mark Zuckerberg said the company would start by sharing with U.S. congressional investigators some 3,000 political ads that it says Russia-based operatives ran on Fac...
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Exclusive: Toshiba flips back towards Western Digital group for chip unit sale - sources

TOKYO (Reuters) - Toshiba Corp ( 6502.T ) is shifting back toward selling its prized semiconductor unit to a group backed by joint venture partner Western Digital Corp ( WDC.O ), people familiar with the deal said. Just days ago the Japanese firm said it was leaning toward a rival bid for the $18 billion business that includes a South Korean chipmaker. California-based Western Digital made key concessions to assure Toshiba it would not seek...
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Nokia says to get sales boost after patent ruling

HELSINKI (Reuters) - Nokia ( NOKIA.HE ) will start to book additional revenue from the current quarter after a ruling by an arbitration court on payments from South Korea’s LG Electronics ( 066570.KS ) for using its smartphone patents. The Finnish company said it would also get a one-off payment, although it did not disclose any of the sums involved. The companies had started the arbitration in 2015. “We believe that this award confirms the...
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Equifax two top technology executives leave company 'effective immediately'

WASHINGTON (Reuters) - Equifax said on Friday that it made changes in its top management as part of its review of a massive data breach, with two technology and security executives leaving the company “effective immediately.” The credit-monitoring company announced the changes in a press release that gave its most detailed public response to date of the discovery of the data breach on July 29 and the actions it has since taken. The statemen...
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BMW says car keys may be replaced by mobile phone apps

FRANKFURT (Reuters) - BMW ( BMWG.DE ) is reviewing the necessity of car keys, Ian Robertson, the company’s board member responsible for sales told Reuters. The fact that customers now all carry a smartphone and the availability of a BMW App which allows customers to unlock their vehicle, has made old fashioned keys less relevant. “Honestly, how many people really need it,” Robertson said in an interview at the Frankfurt car show, explaining...
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Musk now targets October to unveil Tesla semi truck

(Reuters) - Tesla Inc ( TSLA.O ) Chief Executive Elon Musk said the electric carmaker is tentatively scheduled to unveil its planned semi-truck in late October, about a month later than the billionaire had earlier estimated. “Tesla Semi truck unveil & test ride tentatively scheduled for Oct 26th in Hawthorne,” Musk said in a tweet on Wednesday. The entrepreneur has tantalized the trucking industry with the prospect of a battery-powered ...
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Operational limits played key role in Tesla crash on autopilot: NTSB

WASHINGTON (Reuters) - The chairman of the U.S. National Transportation Safety Board (NTSB) said on Tuesday “operational limitations” in the Tesla Model S played a “major role” in a May 2016 crash that killed a driver using the vehicle’s semi-autonomous “Autopilot” system. The limits on the autonomous driving system include factors such as Tesla being unable to ensure driver attention even when the car is traveling at high speeds, ensuring ...
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Elliott discloses 5 percent stake in Japan's Hitachi Kokusai Electric

HONG KONG (Reuters) - U.S. hedge fund Elliott Management Corp said on Monday it has a stake of just over 5 percent in Hitachi Kokusai Electric ( 6756.T ), a chip making equipment and video solution business. U.S. buyout firm KKR & Co LP ( KKR.N ) had agreed in April to buy Hitachi Kokusai from Hitachi Ltd ( 6501.T ) in a deal valuing the unit at about $2.3 billion, but put the deal on hold after a third-party committee reporting to Hita...
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