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SolarCity recuses two more board members from voting on Tesla offer
Two additional SolarCity Corp board members with ties to Elon Musk are recusing themselves from making decisions regarding Tesla Motors Inc's offer to buy the solar power company, in a bid to alleviate corporate governance concerns surrounding a potential deal. The new recusals mean the majority of SolarCity's board will be sitting out the decision on whether to be acquired by Tesla. Peter Rive, who is the cousin of Tesla chief executive and SolarCity chairman Musk, along with JB Straubel, chief technology officer and co-founder of Tesla, are both recusing themselves from the decision-making process, SolarCity spokesman Jonathan Bass said in a statement emailed to Reuters late on Friday.
Sat, 25 Jun 2016 14:51:22 -0400
Line, the biggest tech IPO of the year, struggles to show its growth plan can work
By Yoshiyasu Shida and Thomas Wilson TOKYO (Reuters) - In delaying its IPO by two years, Japanese messaging app company Line Corp bought time to correct weak financial reporting controls, work on its business plan, bolster staffing - and left billions of dollars on the table as its valuation shriveled. Line's initial public offering in the next three weeks is set to raise about $1 billion, which given a global drought of such deals could make it the biggest tech listing this year, but skeptical fund managers point to tepid growth in Line's home market and doubts about its prospects for regional expansion. In seeking to earn more from its major Asian markets of Japan, Thailand, Indonesia and Taiwan, Line will try to generate more revenue from services such as advertising and offer more localized products, its IPO filing said.
Sat, 25 Jun 2016 21:20:48 -0400
Alipay could take stake in Wirecard: report
Wirecard AG is negotiating with representatives of Alipay, a unit of Chinese e-commerce giant Alibaba, about it taking a stake of up to 25 percent in the German banking software company, a newspaper reported on Sunday. Without citing its sources, the Bild am Sonntag weekly said Wirecard was in confidential talks with Alipay about it taking a stake of up to 25 percent, and possibly more later. The paper said Wirecard declined to comment.
Sat, 25 Jun 2016 18:14:18 -0400
Exclusive: Google, Facebook quietly move toward automatic blocking of extremist videos
By Joseph Menn and Dustin Volz SAN FRANCISCO/WASHINGTON (Reuters) - Some of the web’s biggest destinations for watching videos have quietly started using automation to remove extremist content from their sites, according to two people familiar with the process. The move is a major step forward for internet companies that are eager to eradicate violent propaganda from their sites and are under pressure to do so from governments around the world as attacks by extremists proliferate, from Syria to Belgium and the United States. YouTube and Facebook are among the sites deploying systems to block or rapidly take down Islamic State videos and other similar material, the sources said.
Fri, 24 Jun 2016 20:32:15 -0400
China tightens controls on paid-for internet search ads
China's internet regulator said on Saturday that search engines should tighten management of paid-for ads in search results, making clear which results are paid-for and limiting their numbers. Chinese regulators last month imposed limits on the number of lucrative healthcare adverts carried by Baidu Inc following the death of a student who underwent an experimental cancer treatment which he found using China's biggest internet search engine. Wei Zexi, 21, died in April of a rare form of cancer, and the case sparked widespread public anger.
Sat, 25 Jun 2016 01:12:37 -0400
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