Image: NurPhoto/Getty Xiaolang Zhang, a former Apple employee charged by the FBI in 2018 for stealing trade secrets about Apple’s autonomous vehicle project, pleaded guilty in a federal court in San Jose on Monday. Zhang stole the trade secrets while preparing to work for Chinese electric vehicle startup Xiaopeng Motors, also known as XPeng. The… Continue reading Ex-Apple engineer pleads guilty to stealing Apple’s car secrets
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Google launches third Singapore data centreGoogle’s data centre investments in Singapore now stand at $850m.
Internet giant Google officially launched its third data centre in Singapore on Tuesday, bringing its total investments in such facilities in the city-state to $850 million. “Singapore is a regional hub for our network of data centres, cloud regions and subsea cables, which connect the country to the rest of the region and the world,… Continue reading Google launches third Singapore data centreGoogle’s data centre investments in Singapore now stand at $850m.
Chinese CDMO Porton Advanced nets over $80m in Series B round
China’s Porton Advanced Solutions has secured over $80 million in a Series B funding round as the domestic contract development and manufacturing organisation (CDMO) looks to further expand its business with a continued focus on providing gene and cell therapy services. Porton Advanced, a subsidiary of Chinese publicly-listed CDMO Porton Pharma Solutions, raised the funding… Continue reading Chinese CDMO Porton Advanced nets over $80m in Series B round
Apple plans to make iPhone 14 in India amid troubles in China: report
Apple Inc. plans to start manufacturing iPhone 14 in India as the US tech giant seeks alternatives to China after Xi administration’s clashes with Washington and lockdowns across the country disrupted production, Bloomberg News reported. The company has been working with suppliers to ramp up production in India and shorten the lag in manufacturing new iPhones… Continue reading Apple plans to make iPhone 14 in India amid troubles in China: report
Former Apple employee pleads guilty to stealing self-driving car secrets
Back in 2018, former Apple employee Xiaolang Zhang was arrested at San Jose International Airport where he was going to board a last-minute flight to China. Zhang was accused of transferring a 25-page document that includes the engineering schematics of a circuit board for the company’s self-driving vehicle, along with technical manuals describing Apple’s prototype,… Continue reading Former Apple employee pleads guilty to stealing self-driving car secrets
Indian digital wellness platform Mojocare raises $20m from B Capital’s Ascent Fund, othersExisting investors Chiratae Ventures, Sequoia India’s Surge …
Digital wellness platform Mojocare has raised $20 million in a Series A round led by B Capital’s Ascent Fund and existing investors Chiratae Ventures, Sequoia India’s Surge and Better Capital. The funding round also saw participation from angel investors, including Times Group MD Vineet Jain; CRED founder Kunal Shah; and Curefoods founder Ankit Nagori. Mojocare… Continue reading Indian digital wellness platform Mojocare raises $20m from B Capital’s Ascent Fund, othersExisting investors Chiratae Ventures, Sequoia India’s Surge …
DeepWay raises $67m and 21 more deal updates from Greater China worth $277mQiming Venture Partners led DeepWay’s Series A.
DeepWay, a Baidu-backed startup that develops smart, new energy heavy-duty trucks, announced on Tuesday the completion of its first external funding round of 460 million yuan ($67.1 million) to power trucks with autonomous driving technology. Chinese venture capital (VC) major Qiming Venture Partners led the Series A round, with participation from investment firm Vlight Capital,… Continue reading DeepWay raises $67m and 21 more deal updates from Greater China worth $277mQiming Venture Partners led DeepWay’s Series A.
Zoom cuts annual profit forecast as revenue growth hits record low
Zoom Video Communications Inc on Monday cut its annual profit and revenue forecasts as demand for the video-conferencing platform cools off from pandemic highs amid stiff competition from Microsoft Teams and Cisco WebEx. Shares of the pandemic darling fell 7% in extended trade after it reported its slowest quarterly revenue growth on record at 8%, as… Continue reading Zoom cuts annual profit forecast as revenue growth hits record low
India e-commerce firms go on hiring spree ahead of festive season
India‘s e-commerce companies are adding delivery personnel at a rapid pace, fearing a labour shortage might cause them to lose out in one of the biggest annual shopping seasons that begins in earnest next month. The moves come amid a tightening job market — India‘s unemployment rate fell below 7% in July for the first time since January — and persistently… Continue reading India e-commerce firms go on hiring spree ahead of festive season
New Zealand’s government transfers Kiwibank assets to new state-owned company
New Zealand’s government said on Monday it had transferred Kiwibank‘s assets to a new state-owned company, since the lender no longer fit within the long-term plans for two state entities that currently own it. Kiwibank, which is New Zealand fifth-largest retail bank, was owned by state-owned entities New Zealand Post, Accident Compensation Corporation and sovereign wealth fund New Zealand Superannuation Fund. The government said in a statement that the transaction valued at… Continue reading New Zealand’s government transfers Kiwibank assets to new state-owned company