Reuters Technology Report: May 11, 2015

Click to View in Browser Monday, May 11, 2015 Chinese smartphone market, world's largest, shrinks in first-quarter: study BEIJING (Reuters) - China's smartphone market has reached saturation, according to a new study by industry analyst IDC that carries potentially significant implications for the global handset industry led by giants like Apple Inc and Samsung Electronics Co Ltd . Uber tests cash payments for cabs in India MUMBAI (Reuters) - Uber is testing cash payments in India as the online taxi-hailing company seeks a stronger foothold in a country where many fewer people have credit cards than internet connections. Toshiba shares skid 17 pct on accounting probe; $2.5 billion wiped off market value TOKYO (Reuters) - Fears over Toshiba Corp's second probe into its own accounting in two years wiped close to $2.5 billion off the Japanese industrial giant's market value on Monday, with analysts saying lingering doubt on the root of the problem will keep investors on edge. Australia to crack down on alleged tax avoidance by 30 multinationals SYDNEY (Reuters) - The Australian government on Monday announced a world-leading crackdown on alleged tax avoidance by 30 multinational companies in a move that could force the likes of Apple Inc and Microsoft Corp to restructure their businesses to escape huge penalties. SoftBank names Nikesh Arora president and Son's likely successor TOKYO (Reuters) - Japan's SoftBank Corp unveiled a management reshuffle on Monday, appointing investments head Nikesh Arora as president and naming him as a potential successor to CEO Masayoshi Son, as the telecoms conglomerate steps up its overseas expansion. Enel offers to help build Italy's fibre broadband network MILAN/ROME (Reuters) - Italian power utility Enel has written to the Italian communications regulator offering to help with building a nationwide ultrafast broadband telecoms network, a move that could bring it into conflict with Telecom Italia. Sharp may slash capital, issue preferred shares; stock dives TOKYO (Reuters) - Japan's Sharp Corp said it may reduce its capital and issue preferred shares as part of a planned restructuring, but worries about potential dilution from the new issuance and other possible fund raising sent its shares plunging 26 percent.Battered by competition from cheaper Asia rivals in its core liquid crystal panel display business, loss-making Sharp has been working with its main lenders on securing its second major bailout since 2012. Late to the party, global banks try to muscle into India's start-up boom MUMBAI (Reuters) - Global investment banks are scrambling to get a piece of the action from India's booming technology start-ups, having missed out on the initial flurry of deal-making to their better-connected but much smaller domestic rivals. Fiat Chrysler CEO says met with Tesla, Apple CEOs OAKVILLE, Ontario (Reuters) - Fiat Chrysler Chief Executive Sergio Marchionne said on Saturday that he had visited the heads of Tesla Motors Inc and Apple Inc during a recent trip to California. EU, U.S. close to data sharing deal for security cases: sources BRUSSELS (Reuters) - The European Union and the United States are close to completing negotiations on a deal protecting personal data shared for law enforcement purposes such as terrorism investigations, three people familiar with the matter said. Related Video Cyborg beetles to the rescue Boliva's low-cost silent solar car Mediafile How about Hightail-ing it? On Twitter, dubious health claims from e-cigarette bots A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today A quick-fix on the day's news delivered when you want it. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2015 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook