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Confident Snap brushes off concerns on second day of IPO roadshow

NEW YORK Snap Inc, owner of popular messaging app Snapchat, fended off investor skepticism on the second day of its IPO roadshow on Tuesday, betting on the charisma of CEO Evan Spiegel, 26, whom it introduced as a "once in a generation founder."Snap is targeting a valuation of between $19.5 billion and $22.3 billion from listing on the New York Stock Exchange in two weeks. It cut its initial target of $20 billion-$25 billion last week follo......
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Snap arrives in London to woo skeptical investors ahead of IPO

LONDON Snap Inc, owner of popular messaging app Snapchat, kicked off its first investor roadshow on Monday, looking to persuade London money managers to back its initial public offering in the face of concerns about its growth prospects, valuation and corporate governance.The U.S. company, which has yet to make a profit, is targeting a valuation of between $19.5 billion and $22.3 billion from listing on the New York Stock Exchange, after cu......
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U.S. inquiries into Russian election hacking include three FBI probes

By Joseph Menn | SAN FRANCISCO SAN FRANCISCO The U.S. Federal Bureau of Investigation is pursuing at least three separate probes relating to alleged Russian hacking of the U.S. presidential elections, according to five current and former government officials with direct knowledge of the situation.While the fact that the FBI is investigating had been reported previously by the New York Times and other media, these officials s......
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After night in cell, Samsung scion taken for questioning

SEOUL Handcuffed and tied with white rope, the scion of one of the world's biggest conglomerates, Samsung Group, was taken on Saturday for questioning by South Korean authorities after spending a night in a small detention cell.Samsung Group chief Jay Y. Lee was arrested on Friday for his alleged role in a corruption scandal that has led to the impeachment of President Park Geun-hye.The 48-year-old Lee, who has a net worth of $6.2 billion, ......
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Samsung chief Lee arrested in corruption investigation

SEOUL Samsung Group chief Jay Y. Lee was arrested early on Friday over his alleged role in a corruption scandal that led parliament to impeach South Korean President Park Geun-hye, dealing a fresh blow to the world's biggest maker of smartphones.The 48-year-old Lee, vice chairman of Samsung Electronics Co Ltd (005930.KS), was taken into custody at the Seoul Detention Centre, where he had awaited the court's decision following a day-long clo......
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Verizon reaches tentative agreement to lower price of Yahoo deal: Bloomberg

Verizon Communications Inc (VZ.N) has tentatively reached a revised deal that would lower by about $250 million the price to acquire Yahoo Inc's (YHOO.O) core internet business, Bloomberg reported on Wednesday.Verizon's deal to buy Yahoo's assets, including its digital advertising, email and media assets, was worth $4.83 billion when it was first announced. Yahoo and Verizon did not immediately respond to requests f......
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Toshiba to take $6.3 billion hit on U.S nuclear unit

TOKYO Toshiba Corp (6502.T) said on Tuesday it would take a 712.5 billion yen ($6.28 billion) writedown on its U.S. nuclear business, wiping out its shareholder equity and dragging the company to a full-year loss.The company estimated a 390 billion yen ($3.44 billion) net loss for the year ending March 31, compared with a 460 billion yen loss a year earlier, following a 2015 accounting scandal. The results have yet to be approved by the co......
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Samsung chief appears for second round of questions in graft probe

SEOUL Samsung Group [SAGR.UL] leader Jay Y. Lee appeared at the South Korean special prosecutor's office on Monday for questioning as part of a wider investigation into an influence-peddling scandal that could topple President Park Geun-hye. Lee is accused of pledging 43 billion won ($37.31 million) to a business and organizations backed by Park's friend, Choi Soon-sil, in exchange for support for a 2015 merger of two Samsung companies.Park......
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Ford to invest $1 billion in autonomous vehicle tech firm Argo AI

By Alexandria Sage | SAN FRANCISCO SAN FRANCISCO Ford Motor Co plans to invest $1 billion over the next five years in tech startup Argo AI to help the Detroit automaker reach its goal of producing a self-driving vehicle for commercial ride sharing fleets by 2021, the companies announced on Friday.The investment in Pittsburg-based Argo AI, founded by former executives on self-driving teams at Google and Uber, will make Ford t......
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