China has urged big state-owned enterprises (SOEs) to play a key role in its drive to attain self-reliance in technology, raising the stakes in the race amid rifts with the United States. With many Chinese firms and industries hit by a growing roster of export controls imposed by the United States, President Xi Jinping has… Continue reading China urges big state-owned firms to be tech ‘pillars’ as part of self-reliance driveChina aims to turn some state giants into leading tech companies …
Category: Tech News
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Autonomous delivery startup Nuro to restructure, pause commercial expansion
Autonomous delivery startup Nuro is in the midst of a restructuring that will result in layoffs and shift resources away from commercial operations and towards R&D. This is the second time in less than a year that Nuro — a darling of the AV world that has raised $2.13 billion — has laid off workers… Continue reading Autonomous delivery startup Nuro to restructure, pause commercial expansion
Cruise expands supervised self-driving ride-hailing to Houston and Dallas
Cruise is rolling out its self-driving cars to more cities — specifically, to Houston and Dallas as it expands its Texas-based presence. Cruise already started testing its vehicles in Austin at the end of last year, and announced plans to begin testing its Origin built-for-purpose robotaxis there earlier in 2023. Cruise said via their Twitter… Continue reading Cruise expands supervised self-driving ride-hailing to Houston and Dallas
Another Pixel Fold ad leaks hours before Google’s event
/ The ad shows off the device’s multitasking features but also says that ‘dual-screen support’ won’t be available at launch. Yet another leaked teaser for the Pixel Fold has surfaced just hours before its expected launch at Google I/O. In a promo video by leaker SnoopyTech, Google highlights just how thin its flagship foldable really… Continue reading Another Pixel Fold ad leaks hours before Google’s event
Google to unveil more AI-based products to take on MicrosoftIndustry observers have described ChatGPT as Google’s disruptor.
Alphabet Inc’s Google on Wednesday is expected to unveil more artificial intelligence in its products to answer the latest competition from Microsoft Corp, which has threatened its perch atop the nearly $300-billion search advertising market. Through an internal project code-named Magi, Google has looked to infuse its namesake engine with generative artificial intelligence, technology that… Continue reading Google to unveil more AI-based products to take on MicrosoftIndustry observers have described ChatGPT as Google’s disruptor.
Eneos considers possible IPO for JX Nippon Mining & Metals
Japanese energy giant Eneos Holdings Inc is considering spinning off subsidiary JX Nippon Mining & Metals, with a possible option of listing its shares, the Nikkei newspaper reported on Wednesday. Eneos will include the spin-off proposal in its latest mid-term business plan due to be released on Thursday, Nikkei said. Eneos said in a statement… Continue reading Eneos considers possible IPO for JX Nippon Mining & Metals
Orix confirms plan to invest $1.5b in Toshiba buyout
Japanese financial services firm Orix Corp said on Wednesday it would invest 200 billion yen ($1.48 billion) in a $15 billion buyout of Toshiba Corp. Orix said in an earnings document that it would extend 100 billion yen for equity and 100 billion yen in mezzanine syndicated loans, in its first official confirmation of details… Continue reading Orix confirms plan to invest $1.5b in Toshiba buyout
Deliverect Acquires ChatFood
Deliverect, a Ghent, Belgium-based global scale-up that integrates and accelerates online orders for restaurants, acquired ChatFood, a Dubai, UAE-based leader in social media ordering, order and pay at table, and loyalty solutions. The amount of the deal was not disclosed. The acquisition enables Deliverect to extend and support social media, dine-in QR and direct channel… Continue reading Deliverect Acquires ChatFood
UK-based investor Actis launches $500m renewables platform focused on Japan
London-based infrastructure investor Actis has launched a $500 million, Japan-focused renewables platform called Nozomi Energy, which will target 1.1 GW of onshore wind and solar power generation by 2027. Financing for Nozomi Energy will come from Actis’ fifth and latest energy infrastructure fund, which has $6 billion of investable capital, Actis said in a statement… Continue reading UK-based investor Actis launches $500m renewables platform focused on Japan
OYO to post positive EBITDA this financial year, predicts Moody’s
Credit ratings agency Moody’s Investors Service said Indian hotel aggregator OYO Hotels and Homes Pvt Ltd remains on track to turn EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) positive, in the current fiscal year, buoyed by a strong demand recovery and various cost reductions. Moody’s said it expects OYO to post around $50-55 million… Continue reading OYO to post positive EBITDA this financial year, predicts Moody’s