News highlights for 28 March
REUTERS/Toby Melville/File Photo
Tencent buys into Tesla – and the US
DETROIT (Reuters) – China’s Tencent Holdings Ltd has bought a 5 percent stake in U.S. electric car maker Tesla Inc for $1.78 billion, the latest investment by a Chinese internet company in the potentially lucrative market for self-driving vehicles and related services. Read more…
Bangladesh heist was state sponsored, FBI
MANILA (Reuters) – The heist of $81 million from the Bangladesh central bank’s account at the New York Federal Reserve last year was “state-sponsored,” an FBI officer in the Philippines, who has been involved in the investigations, said on Wednesday. Read more…
Canadian Government teams with business for AI initiative
TORONTO (Reuters) – The Canadian and Ontario governments plan to team up with a group of businesses to invest about C$200 million ($150 million) to fund an artificial intelligence institute at the University of Toronto, project organizers said on Tuesday. Read more…
Blackrock chooses machines over humans to pick stocks
NEW YORK (Reuters) – BlackRock Inc on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that highlights how difficult it has become for humans to beat the market. Read more…
ZTE to be removed from US black list
WASHINGTON (Reuters) – The U.S. Department of Commerce will remove Chinese telecommunications equipment maker ZTE Corp from a trade blacklist on Wednesday after the company pleaded guilty to violating sanctions on Iran and agreed to pay nearly $900 million, the agency said in a notice. Read more…
Vivendi in a position to influence Telecom Italia
ROME (Reuters) – Telecom Italia auditors have told the company its top investor Vivendi is in a position to influence other board members even without de-facto controlling the company, the phone group’s chairman Giuseppe Recchi said on Tuesday. Read more…
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