financial

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Tesla Motors Inc reported a steeper than expected quarterly loss on Wednesday on higher spending at its vehicle and battery factories, even as the company said it planned to accelerate store openings around the world. The 13th straight quarterly loss for the Silicon Valley electric carmaker underscores the financial hurdles that hamper it while it takes on increasingly ambitious goals – a ten-fold ramp of vehicle production in three years and the recent plan to acquire solar panel installer SolarCity Corp . Tesla, led by entrepreneur Elon Musk, said it was still on track to deliver about 50,000 new Model S and Model X vehicles during the second half of 2016, and reiterated that it would spend $2.25 billion in capital expenditures in 2016 to prepare for its upcoming Model 3 sedan.

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NEW YORK (Reuters) – Ride-hailing service Uber [UBER.UL] has decided to invest $500 million into an ambitious global mapping project to wean itself off dependence on Google Maps and pave the way for driverless cars, the Financial Times reported on Sunday. The San Francisco-based company is ramping up spending in new technologies such as mapping and driverless cars following new investments into the company earlier this year. A representative for Uber could not immediately be reached for comment. (Reporting by Catherine Ngai; Editing by Marguerita Choy)

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NEW YORK (Reuters) – Ride-hailing service Uber [UBER.UL] has decided to invest $500 million into an ambitious global mapping project to wean itself off dependence on Google Maps and pave the way for driverless cars, the Financial Times reported on Sunday. The San Francisco-based company is ramping up spending in new technologies such as mapping and driverless cars following new investments into the company earlier this year. A representative for Uber could not immediately be reached for comment. (Reporting by Catherine Ngai; Editing by Marguerita Choy)

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(Reuters) – A BT Group Plc executive has called for the United States to require its telecommunications companies to allow access to their networks at regulated prices, similar to rules in place in the United Kingdom, the Financial Times reported on Sunday. Bas Burger, president of the British company's Americas unit, told the newspaper that a lack of regulation has hampered competition in the United States, where AT&T Inc and Verizon Communications Inc control about 80 percent of the telephone and broadband lines used by homes and businesses. Burger said BT Group must charge customers more because it has to pay large fees to the U.S. rivals to carry data over these wires.

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Google Inc's overhaul of its operating structure is an acknowledgement of the lack of transparency surrounding its disparate businesses and projects, analysts said, but it remains to be seen how much more the company will actually disclose. Analysts and investors have long sought more granular detail on Google's capital spending and cash flow, as well as the financial performance of YouTube and Android. Google said on Monday it would split into two reporting companies under a new holding company called Alphabet.

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Japan's financial watchdog plans to seek a financial penalty on Toshiba Corp , currently being investigated by an independent committee over accounting irregularities, the Nikkei reported on Saturday. The Securities and Exchange Surveillance Commission (SESC) believes the company falsified financial statements and will recommend as early as September that the Financial Services Agency impose a fine, the business daily said, citing sources. An SESC spokesman declined to comment, while Toshiba officials were not immediately available for comment.

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A robust cyber security insurance policy can be tricky to procure, even for the most meticulous wealth management firms. Interest in cyber insurance has surged over the past year following a number of high-profile hackings, including one announced earlier this month involving the U.S. Office of Personnel Management. In response, many industries and the financial services industry in particular, have stepped up their vigilance against cyber crimes.

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The Obama administration on Wednesday launched the first-ever sanctions program to financially punish individuals and groups outside the United States that are engaged in malicious cyber attacks. U.S. President Barack, in an executive order, declared such activities a “national emergency” and allowed the U.S. Treasury to freeze the assets and bar other financial transactions of entities engaged in cyber attacks. Under the program, first reported by the Washington Post, cyber attackers or those who conduct commercial espionage in cyberspace can be listed on the official sanctions list of specially designated nationals, a deterrent long-sought by the cyber community. The move, which the paper said has been in development for two years, comes after a string of high-profile cyber attacks ranging from corporate hacks targeting Target, Home Depot and other retailers, to an attack on Sony and other data breaches.

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China's Defense Ministry on Friday denied that it had anything to do with a cyber attack on Register.com, a unit of Web.com, following a report in the Financial Times that the FBI was looking into the Chinese military's involvement. “The relevant criticism that China's military participated in Internet hacking is to play the same old tune, and is totally baseless,” the ministry said in a fax to Reuters in response to a question about the story. It is not clear what the Chinese military would be looking for or what it would gain from Register.com's data. China and the United States regularly accuse each other of hacking attacks.