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Amazon may have to tweak proposals for ending business practices probes, EU’s Vestager says
Business

Amazon may have to tweak proposals for ending business practices probes, EU’s Vestager says

Register now for FREE unlimited access to Reuters.comRegisterBRUSSELS, Sept 16 (Reuters) - Amazon (AMZN.O) may have to tweak its proposals to end two investigations into its business practices, EU antitrust chief Margrethe Vestager said on Friday following feedback from third parties on the issue.In July the U.S. online retailer said it would set up a data silo, preventing its retail arm from using data from its marketplace to make competing private label products. read more It will also end preferential treatment for itself and treat sellers equally when ranking their offers for the "buy box" on its website that generates the bulk of its sales.Register now for FREE unlimited access to Reuters.comRegisterVestager had given third parties until Sept. 9 to provide feedback before deciding...
Desktop Metal to unveil 3D-printed sheet metal technology for cars, planes
Technology

Desktop Metal to unveil 3D-printed sheet metal technology for cars, planes

Register now for FREE unlimited access to Reuters.comRegisterSept 7 (Reuters) - U.S.-based 3D printer maker Desktop Metal Inc (DM.N) plans to unveil as early as on Wednesday a new technology that will dramatically simplify the industrial sheet metal production process, Chief Executive Officer Ric Fulop told Reuters.The technology Figur G15 is capable of shaping standard sheet metal on demand directly from a digital design file, eliminating the need of stamping tools, molds, dies, or presses and thus reducing costs and production lead time, Fulop added."This is a $300 billion market currently with no digital solutions," he said, adding Figur G15 is due to be introduced at a trade show in Chicago on Wednesday.Register now for FREE unlimited access to Reuters.comRegisterThe Massachusetts-b...
Luxembourg’s OQ Technology raises 13 mln euros in funding co-led by Wa’ed Ventures and Phaistos Investment Fund
Technology

Luxembourg’s OQ Technology raises 13 mln euros in funding co-led by Wa’ed Ventures and Phaistos Investment Fund

Register now for FREE unlimited access to Reuters.comRegisterDUBAI, Sept 1 (Reuters) - Luxembourg-based OQ Technology, a global 5G internet of things satellite operator, has raised 13 million euros ($13.05 million) in its Series A funding round co-led by Saudi Aramco's Wa'ed Ventures and Greece's Phaistos Investment Fund, according to a joint statement on Thursday.It is Wa'ed's first investment overseas, since it expanded its mandate to pursue global tech startups looking to localise their products and solutions in Saudi Arabia.Wa'ed is the entrepreneurial venture capital arm of the kingdom's state oil giant. Phaistos Investment Fund focuses on investment in 5G-related products and services and managed by 5G Ventures, a venture capital firm based in Athens.Register now for FREE unlimite...
Baidu revenue contracts but beats estimates on cloud business growth
Business

Baidu revenue contracts but beats estimates on cloud business growth

Men interact with a Baidu AI robot near the company logo at its headquarters in Beijing, China April 23, 2021. REUTERS/Florence Lo/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterAug 30 (Reuters) - China's search engine giant Baidu Inc (9888.HK) beat quarterly revenue estimates on Tuesday, underpinned by growth in its cloud business, even as it reported its first year-on-year quarterly revenue contraction in two years.Total revenue shrank by 5% to 29.65 billion yuan ($4.43 billion) in the second quarter, compared with analysts' average estimate of 29.30 billion yuan, according to Refinitiv data.U.S.-listed shares of the company rose 3.2% in premarket trading.Register now for FREE unlimited access to Reuters.comRegisterEven as Baidu's core advertising sales continu...
AMC Entertainment beats quarterly revenue estimates, announces dividend
Entertainment

AMC Entertainment beats quarterly revenue estimates, announces dividend

An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterAug 4 (Reuters) - AMC Entertainment Holdings Inc (AMC.N) reported second-quarter revenue marginally ahead of Wall Street estimates on Thursday, as big-ticket films such as "Top Gun: Maverick" drew crowds to movie halls, driving a surge in box-office collections at the world's largest theater chain.AMC also announced a special dividend in the form of preferred stock, to paid on Aug. 19. The company will issue one preferred equity unit for each of the 516.8 million class A common stock.With COVID receding, consumers are increasingly returning to o...