Business News

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    Microsoft co-founder Paul Allen dies at 65

    (Reuters) – Microsoft Corp (MSFT.O) co-founder Paul Allen, who had been suffering from non-Hodgkin’s lymphoma, a form of cancer, passed away at the age of 65 on Monday, his family said. Seattle Seahawks owner and Microsoft co-founder Paul Allen takes a photo prior to ringing the opening bell at...
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    Amazon scraps secret AI recruiting tool that showed bias against women

    SAN FRANCISCO (Reuters) – Amazon.com Inc’s (AMZN.O) machine-learning specialists uncovered a big problem: their new recruiting engine did not like women. The team had been building computer programs since 2014 to review job applicants’ resumes with the aim of mechanizing the search for top talent, five people familiar with...
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    Exclusive: Microsoft's $7.5 billion GitHub deal set for EU approval – sources

    BRUSSELS (Reuters) – U.S. software giant Microsoft (MSFT.O) is set to win unconditional EU antitrust approval for its $7.5 billion purchase of privately held coding website GitHub, two people familiar with the matter said on Monday. A Microsoft store is pictured in New York City, New York, U.S., August...
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    'Despondent' Musk's Tesla resembles Lehman, Greenlight's Einhorn says

    NEW YORK (Reuters) – Hedge fund manager David Einhorn lambasted Tesla Inc (TSLA.O) and its “despondent” Chief Executive Elon Musk on Friday, comparing the electric car company to Lehman Brothers Holdings Inc, where he had flagged accounting problems several months before its 2008 collapse. FILE PHOTO: David Einhorn, President...
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    U.S. plans to rewrite rules that impede self-driving cars

    WASHINGTON (Reuters) – The National Highway Traffic Safety Administration (NHTSA) is moving ahead with plans to revise safety rules that bar fully self-driving cars from the roads without equipment like steering wheels, pedals and mirrors, according to a document seen by Reuters. FILE PHOTO: U.S. Transportation Secretary Elaine Chao...
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    Dell exploring IPO option if tracking stock bid fails

    (Reuters) – Dell Technologies Inc (DVMT.N) confirmed on Wednesday it had met with some investment banks to explore an initial public offering if its plan to buy the tracking stock of VMware Inc (VMW.N) falls through. FILE PHOTO: Dell’s logo is seen during Mobile World Congress in Barcelona, Spain,...
  • 1538282377

    Musk to resign as Tesla chairman, remain as CEO in SEC settlement

    WASHINGTON/SAN FRANCISCO (Reuters) – Tesla Inc and Elon Musk have agreed to pay $20 million each to financial regulators and the billionaire will step down as the company’s chairman but remain as chief executive, under a settlement that caps a tumultuous two months for the carmaker. The securities fraud...
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    Facebook unveils new VR headset 'Oculus Quest' for $399

    (Reuters) – Facebook Inc (FB.O) unveiled its new wireless virtual reality headset at a conference on Wednesday and said it plans to start shipping it in spring next year. FILE PHOTO: Silhouettes of mobile users are seen next to a screen projection of Facebook logo in this picture illustration...
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    Asian firms shuffle production around the region as China tariffs hit

    SEOUL/TOKYO (Reuters) – A growing number of Asian manufacturers of products ranging from memory chips to machines tools are moving to shift production from China to other factories in the region in the wake of U.S. President Donald Trump’s tariffs on Chinese imports. FILE PHOTO: Mobile memory chips made...