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Cisco to cut 5,500 jobs in shift from switches to software

August 17, 2016 by · Leave a Comment 

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.

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Cisco to cut 5,500 jobs in shift from switches to software

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Electric car charging station companies issue warning over VW settlement

August 10, 2016 by · Leave a Comment 

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.

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Electric car charging station companies issue warning over VW settlement

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Exclusive: Clinton campaign also hacked in attacks on Democrats

July 30, 2016 by · Leave a Comment 

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.

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Exclusive: Clinton campaign also hacked in attacks on Democrats

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Twitter, Facebook move quickly to stem celebrations of Nice attack

July 16, 2016 by · Leave a Comment 

By Yasmeen Abutaleb and Dustin Volz SAN FRANCISCO/WASHINGTON (Reuters) – Twitter Inc moved swiftly to remove posts from Islamic extremists glorifying a truck attack in Nice, France, watchdog groups said Friday, in a rare round of praise for a platform that has often struggled to contain violent propaganda. A spate of violence over the past several months has posed numerous challenges to social media companies. The unfolding military coup in Turkey was marked first by restrictions on social media, internet monitoring groups said, but the crackdown appeared to ease as the events unfolded and numerous citizens broadcast live video on Facebook and sent tweets.

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Twitter, Facebook move quickly to stem celebrations of Nice attack

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Tesla crash raises stakes for self-driving vehicle startups

July 12, 2016 by · Leave a Comment 

By Paul Lienert and Alexandria Sage DETROIT/SAN FRANCISCO (Reuters) – Concerns raised by the first reported fatality in a semi-automated car were expected to speed adoption of more sensitive technology to help vehicles see and drive themselves safely, increasing demand on the emerging autonomous vehicle technology industry, investors and analysts said. Goldman Sachs forecasts the market for advanced driver assistance systems and autonomous vehicles will grow from about $3 billion last year to $96 billion in 2025 and $290 billion in 2035. More than half of that revenue in 20 years, Goldman estimates, will come from radar, cameras and lidar, a sensor that uses laser – all tools considered essential to building vehicles that can pilot themselves.

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Tesla crash raises stakes for self-driving vehicle startups

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Tesla told regulators about Autopilot crash nine days after accident

July 6, 2016 by · Leave a Comment 

By Alexandria Sage and Paul Lienert SAN FRANCISCO/DETROIT (Reuters) – Tesla Motors alerted regulators to a fatality in one of its electric cars in partial self-driving Autopilot mode nine days after it crashed, the company said on Tuesday, defending its decision not to make the accident public before a federal investigation was announced. Tesla learned about the crash of the Model S sedan in Florida “shortly” after the May 7 crash, and on May 16 it disclosed the incident to the government. The National Highway Traffic Safety Administration (NHTSA) on June 30 announced a probe.

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Tesla told regulators about Autopilot crash nine days after accident

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Uber, Lyft settle litigation involving top executives

June 28, 2016 by · Leave a Comment 

By Dan Levine SAN FRANCISCO (Reuters) – Rival ride services Uber and Lyft have settled high stakes litigation involving two of their top executives, court filings show, in advance of a trial that could have aired sensitive details about both companies. Lyft and its former chief operating officer Travis VanderZanden ended litigation in a California state court in which Lyft accused VanderZanden of breaking his confidentiality pledges when he went to work for Uber. Uber also withdrew a subpoena on Monday in separate litigation over a data breach at Uber, which had targeted an Internet address assigned to Lyft's chief technology officer (CTO), according to a court filing.

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Uber, Lyft settle litigation involving top executives

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Exclusive: Amazon is preparing to launch streaming music service – sources

June 10, 2016 by · Leave a Comment 

By Julia Love SAN FRANCISCO (Reuters) – Amazon.com Inc is preparing to launch a standalone music streaming subscription service, placing it squarely in competition with rival offerings from Apple Inc and Spotify, according to two people with knowledge of the matter. Amazon is finalizing licenses with labels for the service, which likely will be launched in late summer or early fall, the sources said. Amazon, which offers a free streaming music service with a limited catalog to subscribers of its Prime shipping and video service, did not respond to a request for comment about the new, full-fledged music plan.

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Exclusive: Amazon is preparing to launch streaming music service – sources

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Uber, Lyft set to defend driver settlements in court

June 2, 2016 by · Leave a Comment 

By Heather Somerville and Dan Levine SAN FRANCISCO (Reuters) – Uber and Lyft on Thursday will attempt to persuade separate U.S. judges to approve class action settlements which keep drivers classified as independent contractors instead of employees. The ride-hailing companies are seeking to resolve lawsuits by drivers who contend they should be deemed employees and therefore entitled to reimbursement for expenses, including gasoline and vehicle maintenance. A ruling that these workers are employees would affect the profits and valuations at so-called on-demand technology companies, including cleaning service Handy and delivery company Postmates.

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Uber, Lyft set to defend driver settlements in court

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Gawker privacy lawsuit evolves into battle of tech billionaires

May 28, 2016 by · Leave a Comment 

By Sarah McBride SAN FRANCISCO (Reuters) – Billionaire media owner Pierre Omidyar is backing news and entertainment web site Gawker Media in its lawsuit against wrestler Hulk Hogan, adding a new twist to a case pitting technology money against press freedom. Omidyar, owner of The Intercept publisher First Look Media, is asking other media outlets to file legal briefs in support of Gawker, First Look said in a statement on Friday. First Look said its goal was to protect constitutional rights.

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Gawker privacy lawsuit evolves into battle of tech billionaires

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