By Alexandria Sage and Arathy S Nair SAN FRANCISCO (Reuters) – Cisco Systems Inc said it would cut nearly 7 percent of its workforce, posting charges of up to $400 million in its first quarter, as the world's largest networking gear maker shifts focus from its legacy hardware towards higher-margin software. The gradual move to fast-growing sectors such as security, the Internet of Things and the cloud is a response to sluggish demand for Cisco's traditional lineup of switches and routers from telecom carriers and enterprise customers, amid intense competition from companies such as Huawei and Juniper Networks Inc. Savings from up to 5,500 job cuts would be reinvested into key growth areas, Cisco said. “We think this is partly an effort by (CEO) Chuck Robbins to put a stake in the ground and send a message that this is going to be a leaner, meaner Cisco that is focused on driving software and recurring revenue business,” said Guggenheim Securities analyst Ryan Hutchinson.
By Rory Carroll SAN FRANCISCO (Reuters) – Electric vehicle charging companies are calling for independent oversight of the $2 billion Volkswagen AG is required to invest in clean car infrastructure, saying VW should not have the power to shape the nascent electric car charging space. The German automaker agreed to invest the money, which includes $1.2 billion nationally and $800 million in California, as part of its penalties for equipping hundreds of thousands of its diesel vehicles sold in the United States with software designed to cheat tailpipe emissions tests. While charging station companies called the money a potential “game changer,” they worry that if it is misspent, it could hurt competition.
By Mark Hosenball, Joseph Menn and John Walcott WASHINGTON/SAN FRANCISCO (Reuters) – A computer network used by Democratic presidential nominee Hillary Clinton’s campaign was hacked as part of a broad cyber attack on Democratic political organizations, people familiar with the matter told Reuters. The latest attack, which was disclosed to Reuters on Friday, follows two other hacks on the Democratic National Committee, or DNC, and the party’s fundraising committee for candidates for the U.S. House of Representatives. A Clinton campaign spokesman said in a statement late on Friday that an analytics data program maintained by the DNC and used by the campaign and a number of other entities “was accessed as part of the DNC hack.” “Our campaign computer system has been under review by outside cyber security experts.
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 Dan Levine SAN FRANCISCO (Reuters) – Oracle Corp and Google faced off on Tuesday in a $9 billion intellectual property retrial, with Oracle accusing Google of stealing programming to become the world’s leading smartphone player and Google saying it acted legally as a true innovator. Oracle claims Google's Android smartphone operating system violated its copyright on parts of the Java programming language, while Alphabet Inc's Google says it should be able to use Java without paying a fee under the fair-use provision of copyright law.
SAN FRANCISCO (Reuters) – A U.S. judge on Monday partly dismissed a lawsuit filed by Twitter Inc in which the social media company argued it should be allowed to publicly disclose more details about requests for information it receives from the U.S. government. U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California also gave Twitter the opportunity to re-file its lawsuit to include more details about government decision-making, in order to try to move its claims forward. (Reporting by Dan Levine; Editing by Bill Rigby)
By Alexandria Sage and Paul Lienert SAN FRANCISCO/DETROIT(Reuters) – Google's self-driving car team is expanding and hiring more people with automotive industry expertise, underscoring the company's determination to move the division past the experimental stage. The operation now employs at least 170 workers, according to a Reuters review of their profiles on LinkedIn, the business-oriented social network. Many are software and systems engineers, and some come from other departments at Google.
By Yasmeen Abutaleb SAN FRANCISCO (Reuters) – Four senior Twitter executives are leaving the media company, which is also adding a new chief marketing officer and two board members, a source said on Sunday, outlining the biggest leadership changes since Jack Dorsey returned as chief executive, calling for “bold rethinking”. Media head Katie Jacobs Stanton, product head Kevin Weil, and the head of the engineering division, Alex Roetter, will all leave the company, the source familiar with the matter said. On Sunday night Jason Toff, who heads Twitter's video streaming service, Vine, tweeted that he was leaving Twitter to join Google to work on virtual reality.
By Yasmeen Abutaleb and Lehar Maan SAN FRANCISCO (Reuters) – Facebook Inc posted surprisingly strong profit and revenue growth as the world's largest social network grew even larger, with a spike in mobile users and advertising that lifted its stock to an all-time high. The company on Wednesday reported audience numbers that suggest it is poised to take on mainstream media as an advertising force, helping investors to overlook Facebook's huge spending on hiring and building data centers. Facebook now has 8 billion video views per day from 500 million people, compared with 4 billion views in April.
By Dan Levine SAN FRANCISCO (Reuters) – A driver for Google's same day delivery service filed a proposed class action lawsuit against the company on Friday, alleging it improperly classified her as an independent contractor and owes expenses. The case, filed in a Massachusetts state court, comes days after Amazon Prime Now drivers filed a similar lawsuit against Amazon.com Inc in California. Like drivers in the Amazon case, Google Express driver Anna Coorey said in her lawsuit that she was hired by an intermediary courier service but is required to work only for Google during her shift.