By Alexandria Sage and Julia Love SAN FRANCISCO (Reuters) – Apple Inc's $1 billion investment in Chinese ride sharing company Didi Chuxing intensifies a race to acquire technology, talent and market access in a rapidly evolving global personal transportation market. Apple's investment comes as auto and technology industry executives and investors are placing bets that self-driving car systems, electric vehicles and ride sharing will eventually converge to allow companies to sell rides in self-driving vehicles, generating revenue day and night.
By Matthew Miller and Paul Carsten BEIJING (Reuters) – Facebook's co-founder and CEO Mark Zuckerberg met China's propaganda tsar Liu Yunshan in Beijing on Saturday as part of a charm offensive in one of the few markets where the social network cannot be accessed. The rare meeting, reported by China's state news agency Xinhua, suggests warming relations between Facebook and the Chinese government, even as Beijing steps up censorship of and control over the Internet.
Sharp Corp's list of liabilities that prompted Taiwan's Foxconn to suspend signing a takeover deal was an unverified study of worst-case scenario risks, rather than liabilities requiring disclosure, a source briefed on the matter said. The list, sent to Foxconn on Wednesday, included previously undisclosed potential liabilities worth around 300 billion yen ($2.6 billion), prompting Foxconn founder and billionaire Terry Gou to hold off signing the estimated $5.8 billion deal, separate sources have said. Reuters was unable to ascertain why the list was sent to Foxconn, formally known as Hon Hai Precision Industry Co .
World No. 1 chipmaker Intel Corp will be given the go-ahead from the EU for its $16.7 billion bid for Altera Corp , its largest ever deal, two people familiar with the matter said on Friday. The U.S. company is looking to Altera to reinforce its portfolio of higher-margin chips used in data centers and to focus on chips for cars, watches and other devices in a future “Internet of Things.” The U.S. Department of Justice cleared the deal unconditionally last month while other agencies such as the Chinese are also looking at the bid. The European Commission will clear the deal without requiring concessions from Intel as it does not see any competition issues, the sources said.
By Matt Spetalnick and Michael Martina WASHINGTON (Reuters) – President Barack Obama announced on Friday that he had reached a “common understanding” with Chinese President Xi Jinping on curbing economic cyber espionage, but threatened to impose U.S. sanctions on Chinese hackers who persist with cyber crimes. The two leaders also unveiled a deal to build on a landmark emissions agreement struck last year, outlining new steps they will take to deliver on pledges they made then to slash their greenhouse gas emissions. Speaking after White House talks during Xi's first U.S. state visit, Obama quickly homed in on the thorniest dispute between the world's two biggest economies – growing U.S. complaints about Chinese hacking of government and corporate databases, and the suspicion in Washington that Beijing is sometimes behind it.
By Michael Martina and Eric M. Johnson SEATTLE (Reuters) – Chinese President Xi Jinping sought to reassure U.S. officials on Tuesday that Beijing remains committed to financial reforms and an open economy. “China will not go backward in this process,” Xi said at a forum for U.S. and Chinese governors in Seattle during the first day of his week-long visit to the United States. Xi's visit will include meetings with tech and other top business leaders, a black-tie state dinner at the White House hosted by President Barack Obama and an address at the United Nations.
By Gerry Shih BEIJING (Reuters) – China's Lenovo Group Ltd will lay off 10 percent of white-collar staff after sales of Motorola handsets fell by a third, raising doubts over the personal computer giant's bet that a money-losing brand it bought for nearly $3 billion will help it become a global smartphone leader. Lenovo, which uses the U.S. dollar in operations rather than the recently devalued Chinese yuan, said it plans to cut about 3,200 non-manufacturing jobs with a one-time cost of $600 million. Beijing-based Lenovo said the restructuring would yield savings of about $1.35 billion on an annual basis.
U.S. intelligence chief James Clapper said on Thursday that China was the top suspect in the massive hacking of a U.S. government agency that compromised the personnel records of millions of Americans. The comments from Clapper, the director of National Intelligence (DNI), were first reported in The Wall Street Journal and marked the first time the Obama administration has publicly accused Beijing of the hacking attacks on the Office of Personnel Management. “You have to kind of salute the Chinese for what they did,” given the difficulty of the intrusion, the Journal quoted Clapper as saying at a Washington intelligence conference.
By Andrea Shalal WASHINGTON (Reuters) – A massive breach of U.S. federal computer networks disclosed this week is the latest in a flood of attacks by suspected Chinese hackers aimed at grabbing personal data, industrial secrets and weapons plans from government and private computers. The Obama administration on Thursday disclosed the breach of computer systems at the Office of Personnel Management and said the records of up to 4 million current and former federal employees may have been compromised. U.S. officials have said on condition of anonymity they believe the hackers are based in China, but Washington has not publicly blamed Beijing at a time when tensions are high over Chinese territorial claims in the South China Sea.
By Andrea Shalal and Matt Spetalnick WASHINGTON (Reuters) – Data stolen from U.S. government computers by suspected Chinese hackers included security clearance information and background checks dating back three decades, U.S. officials said on Friday, underlining the scope of one of the largest known cyber attacks on federal networks. Accusations by U.S. government sources of a Chinese role in the cyber attack, including possible state sponsorship, could further strain ties between Washington and Beijing.