China's sovereign wealth fund has invested an unspecified amount in Didi Kuaidi, China's dominant ride-hailing app which is competing against U.S. firm Uber Technologies, a person with knowledge of the matter said on Tuesday. The person said China Investment Corp (CIC) was one of several investors that injected more than $2 billion in recent months into the startup, which is now valued at $15 billion.
Read moreBy Paul Carsten BEIJING (Reuters) – Indian online marketplace Snapdeal is set to raise $500 million from a group of foreign investors including China's Alibaba Group Holding Ltd, three people familiar with the matter said on Monday. The latest round of support, from investors also including SoftBank Group Corp and Foxconn, the trading name of Hon Hai Precision Industry Co Ltd, would value Snapdeal at more than $5 billion, another person said. The move is a show of faith from three of the world's biggest technology companies in fast-growing Snapdeal, which in October secured a $627 million investment from SoftBank, itself an early backer of Alibaba.
Read moreBy Andrew Chung NEW YORK (Reuters) – A U.S. judge ruled on Thursday that online television service FilmOn X LLC should be treated like a traditional cable system in order to transmit the programs of the nation's broadcasters over the Internet. The ruling, coming as consumer TV-watching habits are increasingly migrating to the Internet, is the first to first to view a streaming service like a cable provider and could have major implications for broadcasters if it is upheld by higher courts.
Read moreSome bullish bets on Google Inc’s shares, placed ahead of its second-quarter results on Thursday, look set to reap big profits with the shares up 9.5 percent in trading after the bell. Headed into the earnings report, trading in Google’s call options, usually used for bullish bets on the shares, were unusually active. Calls on Google shares rising above $600, $620 and $630 by Friday were among the most heavily traded Google options contracts over the last two days.
Read moreChinese video streaming website operator YY Inc and online retailer E-Commerce China DangDang Inc, on Thursday, became the latest in a string of Chinese companies to get offers to be taken private. Chairman Jun Lei and Chief Executive David Li offered to take YY private in a deal valuing it at about $3.69 billion, while E-Commerce China CEO Guoqing Li and Chairwoman Peggy Yu Yu offered $7.812 per ADS for the online book and media retailer.
Read moreBy Paul Carsten and Gerry Shih BEIJING (Reuters) – China, long accused by the United States of rampant cyber aggression, may be synonymous with hacking exploits these days, but that doesn't mean every Chinese hacker is out to pilfer and destroy. As Chinese companies grapple with a sharp increase in the number of cyber attacks, many hackers are finding it increasingly lucrative to go above board and join the country's nascent cyber security industry
Read moreBy Paul Carsten and Engen Tham BEIJING/SHANGHAI (Reuters) – China's No. 2 e-commerce firm JD.com Inc is launching a Chinese consumer credit data system as a joint venture with U.S.
Read moreThe United States' intelligence chief said on Thursday that China was the top suspect in a hack of a U.S. agency that compromised the personnel records of millions of Americans, the Wall Street Journal reported on Thursday. The comments from Director of National Intelligence (DNI) James Clapper marked a departure of sorts for the Obama administration, which has avoided publicly pointing to Beijing, even as officials said privately China likely was behind the attack
Read more(Reuters) – Yahoo Inc's Alex Stamos will join Facebook Inc as chief security officer from Monday, he said in a Facebook post on Wednesday. Stamos, who joined Yahoo as chief information security officer last year, also updated his profiles on Twitter and LinkedIn
Read moreSince New York’s prison population was more than half black, the lawsuit argued, such policies served to keep many black people out of the workforce.
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