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Tag: Tech

China looked at investing in SoftBank's $100 billion tech fund

China looked at investing in SoftBank's $100 billion tech fund

Finance
The Chinese government had talks about possibly financing the world's most ambitious investment project, SoftBank's $ 100 billion bet on the future of technology known as the Vision Fund.China's largest sovereign wealth fund, the China Investment Corporation, last year spoke with the Vision Fund about making an investment, according to five people with knowledge of or briefed on the conversations. A contribution from CIC, which has $ 800 billion to invest, would have been very politically controversial, but it would also supply the Vision Fund, led by CEO Masayoshi Son, with a steady spring of capital for future versions of SoftBank's project.Sources differ on how serious the talks became, but a contribution has yet to materialize, leading many to believe that the chance of an investment ...
Facebook row tech firm suspends its CEO

Facebook row tech firm suspends its CEO

Technology
Facebook row tech firm Cambridge Analytica has suspended its CEO Alexander Nix in the wake of a series of allegations.Facebook is currently facing investigations by authorities in the UK, EU, and the US, over a reported data breach that impacted more than 50 million people.Data analytics firm Cambridge Analytica, which was hired by Donald Trump's campaign team, is accused of using millions of Facebook profiles without authorisation to predict and influence the US election.The board of Cambridge Analytica says it has suspended Mr Nix pending a full independent investigation of his actions.The suspension is effective immediately, according to the company's website.Comments Mr Nix made to an undercover reporter for Britain's Channel 4 News and other allegations of wrongdoing were cited as rea...
Trump blocks $117bn takeover of US tech firm

Trump blocks $117bn takeover of US tech firm

World
Donald Trump has exercised rarely-used powers to block the hostile takeover of mobile chipmaker Qualcomm by Singapore-based rival Broadcom.The White House said the President was acting on the recommendation of the Committee on Foreign Investment in the United States, which reviews foreign purchases of US companies, to reject the proposed $ 117bn offer on national security grounds.It would have been the most valuable tech takeover in the world had it gone ahead.Broadcom had gone directly to shareholders after a previous offer was rejected by Qualcomm.Its bid interest was blocked at a sensitive time - given the world is gearing up for the roll-out of ultra fast 5G mobile services and Mr Trump's wider agenda to protect the interests of US companies.The committee had warned that "a shift to Ch...
Google confirms its tech is used by Pentagon

Google confirms its tech is used by Pentagon

Technology
Google has confirmed that its technology is being used by the Pentagon to analyse footage captured by drones.A program called Project Maven is utilising the technology to automate the analysis of objects in the enormous amount of images that are captured by the Department of Defence's surveillance drones - also known as unmanned aerial vehicles (UAVs).Gizmodo reported that some Google employees were "outraged that the company would offer resources to the military for surveillance technology involved in drone operations".There have been almost 30,000 coalition strikes against targets in Iraq and Syria since the US-led intervention in 2014, the intelligence behind many of which is developed by analysis of UAV surveillance footage.Video:How do drone strikes happen?Google confirmed that softwa...
Google expansion plans helping to turn NYC into tech hub

Google expansion plans helping to turn NYC into tech hub

Technology
As New York City waits to hear whether it's been chosen as the site for Amazon's second headquarters, recent moves by another tech giant, Google, to expand its footprint in the city are helping to legitimize New York's claim to be Silicon Valley East. Google is reportedly close to a reaching a $ 2.4 billion deal to add a landmark Meatpacking District building to its already substantial New York campus. The building, a block-long former Nabisco factory named after its ground-floor upscale food mall, Chelsea Market, sits across the street from Google's current New York City headquarters, a massive, art deco, former shipping terminal that also occupies an entire city block. Google already leases space in Chelsea Market, which also contains offices for Major League Baseball and the local cabl...