By Nate Raymond NEW YORK (Reuters) – The U.S. government said on Monday it plans to auction over 2,700 bitcoins that were forfeited during several cases, several of which stemmed from investigations of the online black market known as Silk Road. The U.S. Marshals Service said that the online auction would be held on Aug. 22, and that potential bidders must register by Aug. 18.
Verizon Communications Inc said on Monday it would buy Yahoo Inc's core internet properties for $4.83 billion in cash to expand its digital advertising and media business, ending a lengthy sale process for the fading Web pioneer. The purchase will boost Verizon's AOL internet business, which it bought last year for $4.4 billion, as it gains access to Yahoo's ad technology tools, BrightRoll and Flurry, and search, mail and messenger assets. “Yahoo gives us scale that is what is most critical here, Marni Walden, who is head of product innovation and new business at Verizon told CNBC, adding that the company's audience will go from the millions to the billions.
BEIJING/SHANGHAI (Reuters) – The logistics arm of Alibaba Group Holding Ltd has completed a funding round, China's biggest e-commerce company said on Monday. Investors in the funding round of Cainiao include Singapore's Temasek Holdings [TEM.UL] and GIC Pte Ltd [GIC.UL], Malaysia's Khazanah Nasional Bhd [KHAZA.UL], and China's Primavera Capital, Alibaba said in a statement. Alibaba did not disclose details of how much money Cainiao raised, whether it issued equity shares, or at how much the logistics unit is now valued. …
By Eric Auchard MUNICH (Reuters) – The world's most popular messaging service, WhatsApp, is dropping its token $1 fee still levied on some users as it experiments with making businesses pay to reach their customers, Chief Executive Jan Koum said on Monday.
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.
(Reuters) – Internet search company Google Inc's self-driving cars have been involved in 11 accidents, but have not been the cause of any, over the last six years since the project began, the program's director said on Monday. “…Not once was the self-driving car the cause of the accident,” Chris Urmson said in a post on technology news website Backchannel's blog Medium.
Microsoft Corp said on Monday fiscal second-quarter profit fell, in line with Wall Street's forecasts, as sluggish personal computer sales dampened demand for Windows software and the company struggled with unfavorable currency moves against the strong U.S. dollar. “While currency is a headwind for Microsoft and other large international companies, we would characterize the headline numbers as good enough, although some bulls may have been hoping for a bigger beat,” said Daniel Ives, an analyst at FBR Capital Markets. Microsoft reported profit of $5.86 billion, or 71 cents per share for the latest quarter, compared with $6.56 billion, or 78 cents per share, in the year-ago quarter.