Latest Business News
By Ju-min Park and Se Young Lee SEOUL (Reuters) - South Korea's special prosecutor on Monday sought a warrant to arrest the head of Samsung Group [SAGR.UL], the country's largest conglomerate, accusing him of paying multi-million dollar bribes to a friend of President Park Geun-hye. Investigators had grilled Samsung Group chief Jay Y. Lee for 22 straight hours last week as a suspect in a corruption scandal, which last month led to parliament impeaching Park. The special prosecutor's office accused Lee of paying bribes total 43 billion won ($36.42 million) to organizations linked to Choi Soon-sil, a friend of the president who is at the center of the scandal, in order to secure the 2015 merger of two affiliates and cement his control of the family business.
Airbus Group plans to test a prototype for a self-piloted flying car as a way of avoiding gridlock on city roads by the end of the year, the aerospace group's chief executive said on Monday. Airbus last year formed a division called Urban Air Mobility that is exploring concepts such as a vehicle to transport individuals or a helicopter-style vehicle that can carry multiple riders. "One hundred years ago, urban transport went underground, now we have the technological wherewithal to go above ground," Airbus CEO Tom Enders told the DLD digital tech conference in Munich, adding he hoped the Airbus could fly a demonstration vehicle for single-person transport by the end of the year.
U.S. software provider Oracle Corp said on Monday it was opening an accelerator program in Israel for startups developing cloud technologies or whose technologies are based in the cloud. A pilot program was first launched in India and more centers will be announced soon. Oracle's startup cloud accelerator program builds on its excellence center for Israeli startups, which was established in 2003 by Oracle Israel in cooperation with the government to support the growth of early stage startups.
Chinese search engine Baidu Inc on Monday launched an augmented reality (AR) lab in Beijing as part of a $200 million effort to revitalize the company's shrinking profits with cutting edge technology. The lab, which currently employs 55 people, will initially aim to drive revenue through AR marketing, though will later explore healthcare and education. "AR marketing is taking off," Andrew Ng, the chief scientist overseeing Baidu's artificial intelligence (AI), augmented reality and deep learning projects, told Reuters.
By Laurence Frost DETROIT (Reuters) - Electric cars will pick up critical momentum in 2017, many in the auto industry believe - just not in North America. Tighter emissions rules in China and Europe leave global carmakers and some consumers with little choice but to embrace plug-in vehicles, fuelling an investment surge, said industry executives gathered in Detroit this past week for the city's annual auto show. "Car electrification is an irreversible trend," said Jacques Aschenbroich, chief executive of auto supplier Valeo , which has expanded sales by 50 percent in five years with a focus on electric, hybrid, connected and self-driving cars.
By Se Young Lee SEOUL (Reuters) - A Samsung Electronics Co Ltd investigation into what caused some Galaxy Note 7 smartphones to catch fire has concluded that the battery was the main reason, a person familiar with the matter told Reuters on Monday. Investors and analysts say it is critical for Samsung to provide a convincing and detailed explanation about what went wrong with the Note 7 and how it will prevent such problems from recurring if it is to regain consumer trust. "They've got to make sure they come clean and they've got to reassure buyers as to why this won't happen again," said Bryan Ma, Singapore-based analyst for researcher IDC.
If you?re looking for a new fix after finishing The Hunger Games, The Last of Us, or any similar piece dark, post-apocalyptic media, then check out La Lisère (The Edge in English). Set in a future where vaguely describes wars and natural disasters have destroyed civilization, La Lisère tells the story of Hama (played by Ouidad Elma), a young woman who lives with her father Selim (Saïd Amadis, who in a neat bit of trivia did the voice dub for James Earl Jones in the French language version of The Empire Strikes Back. ...