Reuters Asia

Musk to jury: Just because I tweet something, doesn’t mean people believe it

By Jody Godoy SAN FRANCISCO (Reuters) -Elon Musk, Tesla Inc’s chief executive, testified on Friday that investors do not always react to his Twitter messages as he expects, defending himself in a fraud trial over his 2018 tweet that he had funding to take the electric carmaker private. Musk’s testimony began with questions about his …

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Western Digital, Kioxia in advanced talks for merger – Bloomberg News

(Reuters) – Memory chip maker Western Digital Corp and Japan’s Kioxia Holdings Corp are in advanced talks for a possible merger which will involve a dual-listing, Bloomberg News reported on Friday. A combined Kioxia-Western Digital would control a third of the NAND flash market, putting it on par with South Korea’s Samsung Electronics . In …

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Alphabet cuts 12,000 jobs after pandemic hiring spree, refocuses on AI

By Jeffrey Dastin (Reuters) – Google’s parent Alphabet Inc is cutting about 12,000 jobs as it faces “a different economic reality”, it said in a staff memo, doubling down on artificial intelligence (AI) and axing staff who support experimental projects. The job cuts affect 6% of its workforce, and follows thousands of layoffs at tech …

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Philippine bank at centre of cyber heist appeals New York court loss to Bangladesh

MANILA (Reuters) – A Philippine bank at the centre of an unsolved $81 million cyber heist has appealed a New York Supreme Court decision to dismiss the bank’s motion to throw out the Bangladesh central bank’s lawsuit against it. In February 2016, unidentified hackers used fraudulent orders on the SWIFT payments system to steal $81 …

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As COVID surged in China, so did spending by funeral providers

By Eduardo Baptista BEIJING (Reuters) – A funeral parlour in the Chinese city of Shantou published a tender recently for an “emergency purchase” of two cremation ovens, according to a government procurement database, one of several indications of COVID-19’s deadly toll. A funeral service centre in the Sichuan province city of Zigong explained the purchase …

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