Posts filtered by tags: | Financial Times[x]


Here’s why Huawei’s P40 has US components despite the ban

Remember when America effectively banned US companies from selling to Huawei? Well, it turns out things weren’t that simple, because a teardown has revealed Huawei‘s new P40 has US components. Yes, a Financial Times report showed that although Huawei‘s P40 phone has less American parts than its predecessor, the P30, there are still a few US components in there. But this is all a bit more complex than first impressions suggest. [Read: Huawei P40 Pro first impressions: Superb hardware let down by ...
Tags: Startups, US, America, Huawei, Financial Times, Plugged

No, America’s Response to Coronavirus Isn’t the Worst in the World

The coronavirus pandemic is already a catastrophe. How we fare in comparison to the rest of the world is hardly of paramount importance. Once the Chinese government hid the outbreak, failed to contain it, and then misled the world, there remained little possibility that any nation, much less an enormous and open society like the United States, was going to be spared its devastation.Yet, when the political media isn’t preoccupied with a gotcha du jour, pundits, partisans, and journalists have see...
Tags: New York, News, Sweden, China, Germany, America, Spain, Iran, United States, Alaska, New York Times, Italy, Iceland, Msnbc, Donald Trump, Paul Krugman

Bezos and Musk’s internet-from-space race is back on

OneWeb, the satellite startup once pegged as the leader in the race to beam high-speed internet from space, has filed for bankruptcy and blamed the coronavirus (COVID-19) pandemic for its collapse. The London-based firm announced it had let go most of its staff after talks to secure additional funding fell through. The Financial Times noted OneWeb had previously sought up to $2 billion to see it through its commercial launch — before COVID-19 impacted economies worldwide. [Read: 5G isn’t going t...
Tags: Startups, London, Financial Times, Bezos, OneWeb, Hard Fork

Jeff Bezos' Blue Origin rocket company has been deemed an essential business by the government, allowing it to continue operating amid the coronavirus outbreak

Blue Origin, the rocket company owned by Amazon CEO Jeff Bezos, has been deemed an essential business by the US government, according to the Financial Times.  The company will be allowed to continue operating amid the coronavirus outbreak due to "its future value to national security," the FT reports.  Blue Origin has a $500 million contract with the Air Force to produce its New Glenn rocket system, as well as a partnership with defense contractor Lockheed Martin to build a lunar lander for NA...
Tags: Amazon, California, Washington, US, Alabama, Trends, Nasa, Earth, Beverly Hills, Lockheed Martin, Jeff Bezos, Air Force, Financial Times, Blue Origin, Bezos, Glenn

Coronavirus Erupts in Africa—Along With Deadly Rumors and Fear

ABUJA, Nigeria—Since late February, when Nigeria recorded its first case of COVID-19, taxi driver Ola Yusuf has been picking up passengers arriving at the busy Murtala Mohammed International Airport in Lagos who are coming from countries badly hit by the coronavirus."Sometimes I carry up to four people, who are either friends or from the same family," Yusuf told The Daily Beast over the phone. "I'm often paid in cash" (a potential vector of disease).A day after the country's 12th case of...
Tags: News, Nigeria, Africa, Senegal, Bloomberg, Cnn, Britain, United States, South Africa, West Africa, Amnesty International, Ethiopia, Mali, Libya, Who, Kenya

Bank of America’s Race to Avoid Public Shaming Underscores the Perils of the Crisis

(Bloomberg) -- For 93 uncomfortable minutes, Bank of America Corp. rushed to escape infamy this week, before it was saved by the grace of James Corden, the affable talk show host known for crooning in cars with stars.The drama began when California Governor Gavin Newsom called out the bank for not offering 90-day grace periods to mortgage borrowers affected by the coronavirus, despite such pledges by rivals including JPMorgan Chase & Co. and Wells Fargo & Co. A journalist tweeted the lashing, an...
Tags: News, Mac, California, Washington, Senate, White House, Massachusetts, Elizabeth Warren, America, Bank Of America, Bloomberg, James Corden, Financial Times, Gavin Newsom, Citigroup Inc, Bank of America Corp

OneWeb to file for bankruptcy as effort to secure funding, including from investor SoftBank, falls through

Broadband constellation satellite operator OneWeb will file for bankruptcy protection in the U.S., likely some time Friday, after attempts to secure new funding, including from existing investor SoftBank, fell through, TechCrunch has learned. The Financial Times also reported on the failure of its funding attempt on Friday, based on its own separate sources. The company will be laying off most of its staff, with a team remaining in place to continue to operate its existing satellites in sp...
Tags: TC, Space, Softbank, Tech, Bloomberg, Broadband, United States, Telecommunications, Satellites, WeWork, Aerospace, Financial Times, SoftBank Group, OneWeb, The Financial Times

Coronavirus live news: US must take action to improve relations, state media says

China closes borders; UK records biggest daily rise in deaths; South Africa enters military-patrolled lockdown. Follow the latest updates.Coronavirus latest – at a glanceUS now has more cases than any other countrySpain defends response to coronavirus as global cases exceed 500,000Men are much more likely to die from Covid-19. But why?See all our coronavirus coverage 6.24am GMT Here are today’s UK front pages for Friday, 27 March 2020: Friday’s GUARDIAN: “Nurses sent to London as capital fac...
Tags: Europe, UK, London, China, Africa, US, UK News, World news, Australia news, US news, Asia Pacific, Middle East and North Africa, South Africa, New Zealand, Donald Trump, Financial Times

Why Facebook is thinking about investing in India’s biggest network

India is home to Facebook‘s largest user base on the planet, with hundreds of millions of people using its digital services. It now wants to get a stronger foothold in the country as more folks come online. Earlier this week, the Financial Times reported that the social media giant is aiming to buy a stake in India‘s biggest mobile carrier, Reliance Jio. Jio, started over three years ago by multi-billionaire Mukesh Ambani, took on complacent incumbents like Airtel and Vodafone, and led the charg...
Tags: Startups, Facebook, India, Vodafone, Financial Times, Airtel, Mukesh Ambani, Reliance Jio Jio

Daily Crunch: Senate and White House reach stimulus deal

A $2 trillion stimulus package is moving forward in the United States, Google Podcasts comes to iOS and ClassPass offers livestreamed fitness classes. Here’s your Daily Crunch for March 25, 2020. 1. Senate, White House reach deal on $2 trillion stimulus package to lessen COVID-19’s economic impact After five days of negotiations, Senate leaders and the Trump administration said early this morning they have reached a deal on a $2 trillion stimulus package to help relieve the economic impact of CO...
Tags: Google, Amazon, Facebook, Senate, White House, Tech, Policy, Chicago, United States, House Of Representatives, Second Life, Financial Times, Trump, Reliance Jio, PTO, Linden Lab

Days after laying off 20% of its workforce, Brookfield-backed Convene furloughs more than half of remaining employees due to coronavirus closures

Convene, the Brookfield-backed shared-spaces company, furloughed 421 employees on Monday, Business Insider has learned. This comes days after Convene laid off 140 employees. The furloughed employees represent more than half of remaining workers. A spokesperson confirmed Convene will pay both its usual portion and furloughed employee's portions of their health insurance plans through August or the end of the furlough, depending which comes first.  Four months ago, Convene CEO Ryan Simonetti had...
Tags: New York, London, US, Trends, Switzerland, Brookfield, Airbnb, Financial Times, Bain Capital Ventures, Business Insider, PTO, Sonder, Lyric, Simonetti, Leon Black, IWG

SoftBank reportedly considered a big move to take the company private before settling on a plan to sell off billions in assets (SFTBY)

SoftBank with its plan to sell off $41 billion worth of assets, in its biggest-ever plan to buy back shares.   But a new report from the Financial Times' Arash Massoudi and Anjli Raval suggests that SoftBank had an even more drastic plan in place, as it held talks to take the company private with activist investor Elliot Management and Abu Dhabi's sovereign fund Mubadala.   The plan was ultimately scrapped due to the complexities of getting investors together quickly enough for such a large ...
Tags: Elon Musk, London, Softbank, Trends, Tokyo, Abu Dhabi, Financial Times, Elliot, Masayoshi Son, Elliot Management, Mubadala, Anjli Raval, Arash Massoudi

Facebook is reportedly considering investing billions of dollars in an Indian telecom giant to boost its international growth (FB)

  Facebook is looking to make a multibillion-dollar investment in Indian telco Reliance Jio. That's according to a report from The Financial Times on Tuesday, which added that plans been disrupted by COVID-19. Reliance Jio has helped millions of Indians come online for the first time with its low-cost plans. Analysts have estimated that it's worth as much as $60 billion — meaning Facebook could be looking to invest $6 billion. Facebook is mulling a multibillion-dollar investment in a major In...
Tags: Facebook, India, US, Trends, Silicon Valley, Financial Times, Reliance Jio, The World Health Organization, Jio, The Financial Times, Mukesh Ambani, Shona Ghosh, COVID, Mukesh Ambani India

Facebook in talks to acquire stake in top Indian telco Reliance Jio, report says

Reliance Jio, a three-and-a-half-year-old subsidiary of India’s most valued firm Reliance Industries, may have attracted the attention of an American giant: Facebook. The social conglomerate is in talks to acquire a 10% stake in Indian telecom operator, the Financial Times reported Tuesday. The size of the deal, the paper said, was in “multi-billion dollars.” Analysts at Bernstein value Jio at over $60 billion. Mukesh Ambani, India’s richest man who runs Reliance Industries, has poured over $25 ...
Tags: Facebook, Asia, India, Tech, Vodafone, Financial Times, Airtel, Reliance Jio, Bernstein, Reliance Industries, Jio, Reliance Retail, Facebook India, Mukesh Ambani India, Unacademy Ajit Mohan VP

Big Tech’s key role in fighting the coronavirus outbreak

In the past few years, the attitude toward tech has increasingly soured. Multiple data privacy and election-related scandals at various tech companies and a new political strategy of being tough on “Big Tech” have led to the phenomenon known as “techlash.” In fact, in 2018, the Financial Times used that term to summarize “the year in a word.” And the hits just keep on coming: in 2019 and this year, we’ve continued to see even more calls to regulate technology and tech companies—with antitrust su...
Tags: Apple, Google, Amazon, Facebook, Microsoft, California, Opinion, Ebay, France, Senate, White House, Tech, Sport, Soccer, Financial Times, Deepmind

Stock buybacks and cutting losses: SoftBank, the Japanese investment giant behind WeWork, is under immense pressure to shield itself from an upcoming downturn

SoftBank is selling key assets to buy back stock in an effort to cushion its stock, which has plummeted over 50% since mid-February because of fears over the coronavirus outbreak, the company announced Monday. The company has come under pressure from investors to buy back shares and reassure the public market while its stock and market capitalization continues to slide.  The company is also reconsidering its stake in value-destroying portfolio companies, like its notice to WeWork investors war...
Tags: Instagram, Softbank, US, Trends, Bloomberg, Beverly Hills, WeWork, Jeff Bezos, Wall Street Journal, Financial Times, Elliot, Masayoshi Son, Elliot Management, Apollo Global Management, Vision Fund, Didi Grab

Coronavirus: Brand Moves for Monday March 23

A clever and thoughtful social media ad from Nike has encouraged people to stay in: “If you ever dreamed of playing for millions around the world, now is your chance. Play inside, play for the world.” Meanwhile, Nike has also announced that premium programming on its Nike Training Club app is now accessible to users free of charge. The subscription-based service includes studio-style streaming workouts, progressive training programs with or without the use of external weights and expert tips fr...
Tags: Apple, Amazon, Facebook, South Korea, Europe, UK, Milan, London, California, Oregon, Advertising, US, Nike, Cisco, Atlantic, Shinzo Abe

Amazon is reportedly in talks to help deliver COVID-19 tests in the UK

The UK government has reportedly approached private delivery companies including Amazon to help deliver COVID-19 tests to health and social care workers, The Financial Times reports. The UK government has been under considerable pressure to ramp up its testing on NHS workers. Amazon declined to comment when contacted by Business Insider. Visit Business Insider's homepage for more stories. The UK government is in talks with delivery companies including Amazon to help deliver COVID-19 tests to ...
Tags: Amazon, UK, US, Trends, Nasa, NHS, Jeff Bezos, Financial Times, Inside Amazon, An Amazon

Primark to close its 189 stores in UK - Financial Times

Associated British Foods Plc intends to close its 189 Primark stores in the United Kingdom from Sunday night after cancelling all new orders from suppliers as demand shrinks due to the coronavirus outbreak, the Financial Times reported.
Tags: Money, businessNews, United Kingdom, Primark, Financial Times, Associated British Foods PLC, UK Financial Times

UK government plans to buy into airlines - FT

The British government is planning to buy equity stakes in airlines and other companies affected by the impact of coronavirus, the Financial Times reported on Saturday.
Tags: UK, Money, businessNews, Financial Times

Brookfield-backed Convene just laid off 20% of its workforce as the coronavirus upends the flex-space and events industries

Convene, the Brookfield-backed shared spaces company, just laid off 150 employees, Business Insider has learned. The company will also furlough an unspecified number of operations staff. Four months ago, Convene CEO Ryan Simonetti told Business Insider he planned to add up to 500 employees in 2020 to the company's 900-person staff. Convene had raised $260 million in funding, including a $152 million Series D round of funding this summer that included investors ranging from asset management gia...
Tags: London, US, Trends, Switzerland, Brookfield, Financial Times, Signal, Business Insider, PTO, Simonetti, Leon Black, The New York, IWG, Ryan Simonetti, New York Convene

Brookfield-backed Convene just laid off 20% of its workforce as the coronavirus upends flex-space and events industries

Convene, the Brookfield-backed shared spaces company, just laid off 150 employees, Business Insider has learned. The company will also furlough an unspecified number of operations staff. Four months ago, Convene CEO Ryan Simonetti told Business Insider he planned to add up to 500 employees in 2020 to the company's 900-person staff. Convene had raised $260 million in funding, including a $152 million Series D round of funding this summer that included investors ranging from asset management gia...
Tags: London, US, Trends, Switzerland, Brookfield, Financial Times, Signal, Business Insider, PTO, Simonetti, Leon Black, The New York, IWG, Ryan Simonetti, New York Convene

Taiwan Accuses WHO of Failing to Heed Warning of Coronavirus Human-to-Human Transmission

Taiwanese health officials have accused the World Health Organization of failing to communicate the country's warning in December regarding possible human-to-human transmission of the Wuhan coronavirus, the Financial Times reported Friday.The officials said doctors in Taiwan had learned from their colleagues in mainland China that medical staff were falling ill from the as-yet unnamed coronavirus, a sign of human-to-human transmission that Taiwan says it passed on to the WHO and Chinese auth...
Tags: News, China, Taiwan, Beijing, Who, World Health Organization, Wuhan, Financial Times, Centers for Disease Control, Chen, Chen Chien jen Chen

FDA clarifies that no drugs are approved to treat COVID-19 after Trump names 2 contenders

President Trump held up two drugs as possible treatments for COVID-19, the disease caused by the new coronavirus, in a conference call with governors on Thursday. He said chloroquine, an older drug used to treat malaria, lupus, and rheumatoid arthritis, was "very powerful" and has shown "very, very encouraging early results," adding that the Food and Drug Administration has approved the drug for use against the coronavirus.The FDA said in a subsequent statement that "there are no FDA-approved th...
Tags: News, Mexico, America, Food And Drug Administration, Fda, Associated Press, Financial Times, Lindsey Graham, Trump, Hahn, Beyer, Stephen Hahn, FEMA HQ Trump, U S Rising Pharmaceuticals, Ross McKinney Jr, the Association of American Medical Colleges

Coronavirus – getting angry

I am going to give you a few stylised facts about severe acute respiratory syndrome coronavirus 2  and the data. First – no matter what you say about the Chinese data – and the Chinese data was full of lies at first – China has controlled the outbreak. Shanghai, Beijing, Chongqing are all functional mega-cities with no obvious health catastrophes. The virus has been managed to very low infection rates in Singapore and Taiwan. The numbers (completely real) in Korea show a dramatic slowdow...
Tags: Business, China, Singapore, Iran, Taiwan, Italy, Korea, New Zealand, Bill Ackman, Financial Times, John Hempton, Shanghai Beijing Chongqing

Lime and Bird halt e-scooter services in Europe and US — guess why…

E-scooter rental companies Lime and Bird are putting their services on hold for an indefinite period of time in cities across Europe, the Financial Times reports. [Read: UK takes next step toward world of e-scooters, self-driving cars, and autonomous drones] Lime is reportedly also taking the same action across North America, as the coronavirus (COVID-19) has lead to a drop in user numbers. Following the increase in public self-isolation, to slow the spread of the virus, demand for e-scooter ren...
Tags: Startups, Europe, UK, California, Washington, US, Tech, World, Bird, North America, Financial Times, Shift, Lime and Bird, Coronavirus

SoftBank’s debt outlook turns negative

Japanese telecom conglomerate SoftBank Group has faced a litany of bad news in recent weeks, including reported revelations from the Wall Street Journal that the head of its Vision Fund was using corporate espionage firms to sabotage his corporate peers and that activist hedge fund investor Elliott Management had invested in the company to try to force more transparency to its balance sheet and board of directors in a bid to drive its stock price higher. The bad news just keeps coming though....
Tags: Finance, Softbank, Tech, Sprint, Wall Street Journal, Financial Times, Elliott Management, SoftBank Group, Arman, Sprint and T Mobile, SoftBank Vision Fund, Vision Fund

Bridgewater's Dalio says his flagship fund lost money amid market turmoil - FT

Bridgewater Associates' Ray Dalio acknowledged that his marquee hedge fund lost money during the coronavirus-led market turmoil following sharp reversals in stocks, bonds, commodities and credit, the Financial Times reported on Sunday.
Tags: Money, businessNews, Financial Times, Bridgewater, Ray Dalio, Dalio, Bridgewater Associates

The world has flipped upside down in the 2 weeks since DoorDash filed for an IPO. The food-delivery giant's CEO says he's in no rush to go public.

In his first published interview since DoorDash said it had filed confidentially to go public, CEO Tony Xu talked with Business Insider about the prospects of an IPO as the markets respond to the coronavirus pandemic.  Xu said DoorDash was eyeing an IPO as a way to deliver liquidity and make investments that it can't make as a private company.  He also said he was not worried about competition, despite media reports about industry consolidation.  For more BI Prime stories, click here. Two wee...
Tags: Lyft, Ipo, Softbank, San Francisco, Trends, WeWork, Wall Street Journal, Financial Times, Signal, Postmates, Doordash, Don, PitchBook, Tony Xu, Xu, GrubHub

TV industry braces for pain as advertisers and sports bodies press pause - Financial Times

TV industry braces for pain as advertisers and sports bodies press pause   Financial Times
Tags: Seo, Financial Times