Reuters Technology Report: Rocket Internet CEO says ready to pounce with cash pile

Click to View in Browser Thursday, January 11, 2018 Rocket Internet CEO says ready to pounce with cash pile BERLIN (Reuters) - Germany's Rocket Internet needs to hold on to its mountain of cash so it can compete with rivals from the United States and China and pounce when investment opportunities arise, the chief executive said in an interview. South Korea plans to ban cryptocurrency trading, rattles market SEOUL (Reuters) - South Korea's government said on Thursday it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation's police and tax authorities raided local exchanges on alleged tax evasion. Senate panel to discuss bitcoin with markets regulators: source WASHINGTON (Reuters) - The U.S. Senate's financial services panel will hold a hearing next month with the country's top markets regulators to discuss bitcoin amid rising concerns over the risks cryptocurrencies pose to the financial system, a person with direct knowledge of the matter told Reuters. Senator wants Apple to answer questions on slowing iPhones WASHINGTON (Reuters) - The chairman of a U.S. Senate committee overseeing business issues asked Apple Inc to answer questions about its disclosure that it slowed older iPhones with flagging batteries, according to a letter seen by Reuters on Wednesday. Uber rival Taxify expands into Lisbon while eyeing fresh funding FRANKFURT (Reuters) - Taxify, Uber's upstart European-based rival, is looking to expand during the coming year outside of the biggest cities in the more than 20 countries where it now operates into secondary markets, Chief Executive Markus Villig said on Thursday. China's cyber watchdog scolds Ant Financial over user privacy breach SHANGHAI (Reuters) - China's cyber watchdog has scolded Ant Financial, Alibaba's payment affiliate, for compromising user privacy after many users of its Alipay service were automatically enrolled in its credit scoring system. Hyundai invests in Grab to gain 'foothold' in Southeast Asia ride-hailing market SEOUL (Reuters) - South Korea's Hyundai Motor Co said on Thursday it had invested in Southeast Asian ride-hailing firm Grab, as it seeks to expand into the region to reduce its reliance on China following a damaging diplomatic row between Seoul and Beijing. French NGOs file complaint against Samsung Electronics over deceptive marketing PARIS (Reuters) - Two French rights groups said on Thursday they had filed a complaint against South Korean tech giant Samsung Electronics Co Ltd over alleged deceptive marketing practices. Nvidia updates software, says graphic chips not hit by flaws (Reuters) - Nvidia Corp is updating the software for its graphics processors in response to the Spectre security threat, but its chief executive said on Wednesday its chips were not subject to the same risks as those from Intel and other companies. LG Electronics to start operating U.S. washing machine factory in fourth-quarter 2018 SEOUL (Reuters) - South Korea's LG Electronics plans to start operating its new washing machine factory in the United States in the fourth quarter this year, its chief executive said on Thursday. Related Video Chilled out lizards better at learning, study says Could Apple become a 'sin' stock? 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 2018 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