Thu06292017

LAST_UPDATEFri, 30 Jun 2017 8am

France's Startup Scene Gains Traction, Led By State Investment Bank

Pic: ReutersPARIS: France's corporate startup scene is gaining traction against the backdrop of booming investments by venture capital funds and high expectations for a business friendly government under new President Emmanuel Macron.

Read more: France's Startup Scene Gains Traction, Led By State Investment Bank

Western Digital Seeks Court Injunction To Block Sale Of Toshiba Chip Unit

Pic: ReutersTOKYO: Western Digital Corp has sought a court injunction to prevent Toshiba Corp from selling its chip business without the U.S. firm's consent - a move that threatens to throw the fiercely contested auction into disarray.

Read more: Western Digital Seeks Court Injunction To Block Sale Of Toshiba Chip Unit

Uber's Open COO Job In The Spotlight Amid Leadership Void

Pic: ReutersSAN FRANCISCO: With Chief Executive Travis Kalanick taking a leave of absence from Uber Technologies Inc, the vacant job of chief operating officer takes on a lot more importance as the company frames the position as key to solving its woes.

Read more: Uber's Open COO Job In The Spotlight Amid Leadership Void

Netflix Limits Number Of Times You Can Download Some Content

Life got easier for on-the-go Netflix customers late last year when the streaming giant added support for downloading content so you can watch films and shows without an internet connection.

Read more: Netflix Limits Number Of Times You Can Download Some Content

Verizon Completes Its $4.48 Billion Acquisition Of Yahoo; Marissa Mayer Leaves With $23 Million

Verizon has completed its $4.48 billion acquisition of Yahoo's core internet business and said Tuesday that Marissa Mayer is stepping down.

The assets, which include Yahoo Finance, will be combined with AOL brands such as the Huffington Post under a new subsidiary called Oath. Tim Armstrong, former CEO of AOL, will head the subsidiary, which houses more than 50 media and technology brands.

Mayer, Yahoo CEO since July 2012, is expected to receive a "golden parachute" payment that filings with the Securities and Exchange Commission say isworth more than $23 million.

Verizon announced plans to buy Yahoo's core internet business last July. After the deal was announced, Yahoo disclosed that it had discovered two data breaches in 2013 and 2014 affecting more than 1 billion user accounts.

The two companies then agreed that the final acquisition price would be $350 million less than the original offer of about $4.8 billion.

While no official announcement was made on Tuesday about job cuts, a source told CNBC last week that around 2,100 jobs could be slashed as Yahoo and AOL integrate.

The deal ends Yahoo as an operating company and leaves it with its stake in Chinese e-commerce company Alibaba and Yahoo Japan, its cash, convertible notes, certain minority investments, and a noncore portfolio of patents called Excalibur. These assets will be renamed Altaba. In March, Yahoo said board member Thomas McInerney will serve as Altaba CEO.

Armstrong has been leading integration planning teams since the transaction was announced, Verizon said, with Oath beginning operation on Tuesday. In April, Armstrong named his leadership team for Oath. AOL president and former Yahoo executive Tim Mahlman will head advertising technology, Yahoo engineer Atte Lahtiranta will lead tech and Verizon's Ralf Jacob will oversee digital media.

Verizon's acquisition of Yahoo is seen as a way for it to extend its reach to more consumers and boost its presence in the mobile and online video space against the likes of Google and Facebook.

-CNBC

Uber Director David Bonderman Resigns From Board Following Comment About Women

Pic: ReutersUber Technologies Inc director David Bonderman said on Tuesday that he has resigned from the company's board following a remark he made during an Uber staff meeting that was widely seen as offensive to women.

Read more: Uber Director David Bonderman Resigns From Board Following Comment About Women

Waymo Retires Firefly To Focus On Mass-Produced Vehicles

Pic: ReutersAlphabet Inc's self-driving car unit Waymo said it is retiring its line of Firefly test vehicles to focus on integrating its technology into mass-produced vehicles.

Read more: Waymo Retires Firefly To Focus On Mass-Produced Vehicles

U.S. Blames North Korea For Hacking Spree, Says More Attacks Likely

Pic: ReutersWASHINGTON/TORONTO: The U.S. government on Tuesday issued a rare alert squarely blaming the North Korean government for a raft of cyber attacks stretching back to 2009 and warning that more were likely.

Read more: U.S. Blames North Korea For Hacking Spree, Says More Attacks Likely

Uber CEO Kalanick Takes Leave Of Absence, To Lose Some Power

Pic: ReutersSAN FRANCISCO: Uber Technologies Inc Chief Executive Travis Kalanick told employees on Tuesday he will take time away from the company he helped to found, citing the need to grieve for his recently deceased mother and to work on his leadership skills, according to an email from Kalanick seen by Reuters.

Read more: Uber CEO Kalanick Takes Leave Of Absence, To Lose Some Power