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BMW CEO puts digital trends at center of strategy review
BMW's new Chief Executive Harald Krueger plans to overhaul the carmaker's strategy to make it fit for the digital future of driving, he said on Tuesday. BMW teamed up with Germany's other two premium carmakers to buy Nokia's high-definition mapping business for 2.5 billion euros ($2.7 billion) this week to protect its access to key technology for connected and self-driving cars. At this stage it is still too early to go into further detail." BMW has been exploring cooperation with U.S. consumer technology giant Apple.
Tue, 04 Aug 2015 09:53:28 -0400
Wireless carrier Sprint's revenue falls 8.7 percent
(Reuters) - Sprint Corp's quarterly revenue fell 8.7 percent as revenue from its wireless business declined, and new and existing customers opted for its installment plans. Sprint, which is 80 percent owned by Japan's SoftBank Corp , said net operating revenue fell to $8.03 billion from $8.79 billion.
Tue, 04 Aug 2015 08:07:07 -0400
Alibaba hires former Goldman banker Evans as president
Alibaba Group Holding Ltd has hired former Goldman Sachs Group Inc partner Michael Evans to oversee the e-commerce company's international expansion, a top priority as the firm looks beyond China to sustain its heady growth rates. Evans, who spent two decades at the investment bank in positions including vice chairman and head of Asia, has occupied a board seat at Alibaba since mid-2014, before the company held a record-setting public listing in New York. Alibaba, by far the largest e-commerce player in China, said hiring Evans signaled its intention to ramp up cross-border commerce in earnest after it spent years focusing on securing its domestic market position.
Tue, 04 Aug 2015 07:43:22 -0400
Charter Communications posts bigger quarterly loss
(Reuters) - U.S. cable company Charter Communications Inc reported a bigger quarterly loss, hurt by costs related to debt extinguishment and the failed deal between Comcast Corp and Time Warner Cable Inc . Charter's deal to buy some assets of Time Warner Cable fell through after U.S. regulators refused to clear Comcast's $45 billion bid for Time Warner Cable. Cable companies have been struggling with declining subscriber numbers as viewers shift to cheaper and more flexible streaming services offered by Netflix Inc , Amazon.com Inc , Hulu and others.
Tue, 04 Aug 2015 09:37:40 -0400
Samsung glamour days over as it fights to save mobile market share
By Se Young Lee SEOUL (Reuters) - For four years Samsung Electronics Co Ltd has basked in the success of its Galaxy smartphones, making billions of dollars competing with Apple Inc in the premium mobile market. The coming years are set to be more somber for the South Korean tech giant, as it is forced to slash prices and accept lower margins at its mobile division in order to see off competition from rivals including China's Huawei Technologies Co Ltd and Xiaomi Inc in the mid-to-low end of the market. Behind Samsung's reality-check is the fact it is stuck with the same Android operating system used by its low-cost competitors, who are producing increasingly-capable phones of their own.
Tue, 04 Aug 2015 05:11:20 -0400
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