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Payments start-up Circle moves away from bitcoin business

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Payments start-up Circle moves away from bitcoin business

Russian court turns down appeal from Google in anti-monopoly case

 

Russian court turns down appeal from Google in anti-monopoly case

Moscow (Reuters) – A Russian court yesterday rejected an appeal against Google in an anti-monopoly case preinstalled apps on mobile devices with the Android operating system, reported Interfax news agency

Earlier, Russia’s anti-monopoly watchdog FAS imposed 438000000 rubles ($ 6.83 million) fine on Google after ruling that the company has violated Russian anti-monopoly rules.

(Reporting by Alexander Wen, writing by Denis Pinchuk)

European tech investors spot safe havens from Brexit worries

 

European tech investors spot safe havens from Brexit worries

Frankfurt (Reuters) -. Technology investors sought shelter after Brexit picking companies provide direct access to services for web and mobile clients or companies mainly do business worldwide that could benefit from falling kilos

It’s way too Skram hardware makers or email trafficking suppliers with large British sales, which accounts for less currency driven by swinging voice of great Britain to leave the EU.

Shareholder is also cautious for software and services companies get caught short by freezing budgets by customers scrambling to evaluate their businesses and consequent slower economic growth.

Second quarter results starting this week and running in August. The Stoxx European technology index fell 10 percent in the June 23 vote, but has since returned 6.6 percent. It is namely 10.5 percent so far this year, weighed by the slowdown in the global economy is growing smartphone and concern about the global economy.

Brexit playing in a deeper trend in which established technology companies providing traditional hardware, software or services is losing ground to cloud-based businesses, such as corporate spending and consumer appetite shifted to the Web and mobile phones.

“There will be many companies poorly positioned for the cloud that will proclaim Brexit as a timely excuse for their own problems,” said Ben Rogoff, a fund manager at Polar Capital in London

“Let’s be clear here:. This uncertainty takes place against the background of growth, which in any case disappointing These companies will blame Brexit their own misexecution” ..

a recording of the head inligting beamptes in the United States and Europe by Morgan Stanley in June – before Brexit voice – the buyers had already paring back 2016 spending plans for hardware and technical services. Cloud, big data and security remains above bestedingsprioriteite, it found.

After the vote, global market research firm Gartner cut its technology spending outlook for Britain by 3 percent this year and 5 percent in 2017.

safe havens

two UK-based safe havens is ARM Holdings, the chip technology used in most smartphones licenses worldwide, and Sophos, driven by demand for its computer security software and services, most financial analysts say.

US names such as Salesforce.com and Red Hat, with a long-term subscriptions for Internet software supplied little direct exposure to the UK, are safe bets, said Silicon Valley-based analyst Trip Chowdhry. Amazon.com and Apple, while operating in Britain, enjoys strong brands and tough sake subscription models tend to isolate them from any UK slowdown, he said.

Worldwide benefits of spending on its advanced chip aimed ASML Netherlands makes tools from Intel and Taiwan’s TSMC <2330.TW>, along with the positive effects of product sales in dollars, but the discussion of them said in euros, Morgan Stanley.

Europe’s largest software maker, SAP, remains isolated by long sales cycles and an entrenched multinational client base, with little direct exposure to the UK, although the Brexit shock could prove in the last week of June has delayed some new software license trade.

Baader analyst Knut Woller expects SAP later confirm this month its full year 2016 financial targets, “SAP consensus for flat growth licensed in the second quarter, which would be seen to meet as a relief” and the stock handlebar higher, he said.

vulnerable

But the UK online advertising and e-commerce sales by other major American Internet in particular is set to an ultimate hit of slower economic growth and translation pounds in US dollars take breaks for record purpose, said Deutsche Bank analyst Ross Sandler

it includes eBay, with 16 percent of revenue from Britain. Price travel site with an estimated 15 per cent; Google 9.5 percent and Facebook with an estimated 7 to 10 percent linked to Britain, Sandler said.

Eastern European software service EPAM and Luxoft, which heavily rely on contracts of financial services and media customers in Britain and Western Europe, a number of technology stocks hardest hit in the region by worry about how Brexit undermine economic growth. Both stocks are en 15-20 percent in the past month.

Financial software vendors Temenos of Switzerland and the United Kingdom established Fidessa may have trouble closing contracts to reconsider the second half of 2016 as banks their British positions, UBS said.

“While we do not think the UK abandoned” vote is analogous collapse of Lehman, we think it’s probably as banks consider impede the possible implications of the decision-making in Europe, “UBS software analyst Michael Briest said

Dutch car navigation vendor TomTom’s stock has 20 percent immersed in the past month. UK consumers are responsible for 13 percent of sales, with three-quarters of total sales come from Europe, Barclays said <. / p>

“We have challenging times ahead for TomTom based on its exposure to the UK consumer market and the negative impact of foreign currency must TomTomâ ???? Gross have margins, “the Barclays analyst Andrew Gardiner.

TomTom face a double hit because most of what they sell are priced in dollars, making purchases more expensive in Britain.

(Editing by Ruth Pitchford)

SolarCity recuses two more board members from voting on Tesla offer

 

SolarCity recuses two more board members from voting on Tesla offer

(Reuters) – Two additional directors Solar City Corp. with links to buy Elon Musk is recusing of making decisions regarding the supply Tesla Motors Inc’s in the solar business, in an effort to corporate governance concerns surrounding a to mitigate the possible transaction.

The new recusals means sit the majority of the solar city’s council from deciding whether obtained by Tesla.

Peter Rive, who is the nephew of Tesla’s CEO, and solar city chairman Musk, along with JB Straubel, chief technology officer and co-founder of Tesla, both recusing himself from the decision-solar city spokesman Jonathan Bass said in a statement by e-mail to Reuters late on Friday.

Musk, the largest shareholder in both companies, withdrew themselves before outside vote on the potential deal, along with Antonio Gracias which both companies are plates, and SolarCity Chief Executive Lyndon Rive, which Musk’s cousin and brother Peter Rive’s

There are three remaining solar city councilors. John Fisher and Nancy Pfund, both venture capitalists and Donald Kendall Jr., CEO of Kenmont, an investment management company.

“We are very aware of the need for a process that is independent, objective decisions that ensure the best interests of all shareholders,” says solar city’s Bass in the statement.

Tesla did not immediately respond to a request for comment.

solar city will will be a special independent committee of the board, independent counsel, said Bass.

“Only board members who meet will be the independence requirements involved in decision making in solar city,” he added.

Musk has described a tie-up between Tesla and Solar City as a “no brainer.” The company can sell customers an electric car, a house battery and a solar system all at once, he said.

But investors, including some that briefly put bets the block that shares will fall, reflects the conflict of interests and the risk of the union of two money losing companies to raise both money regularly to enlargement support.

Since Tesla his offer to buy solar city announced in a transaction worth $ 2800000000 Tuesday, analysts and investors are worried that the electric car company’s growth plan carries a financial burden and additional debt can not afford.

Solar City shares fell more than 50 percent of the year in a highly competitive market blows criticism that Tesla transaction was intended to save solar city.

(Sign by Liana B. Baker, editing by Peter Henderson and Tom Brown)

Data analysis from Paris raid on Google will take months, possibly years: prosecutor

 

Data analysis from Paris raid on Google will take months, possibly years: prosecutor

Paris (Reuters) – Analysis of data seized by detectives last week could take possibly years raided Google’s Paris headquarters, French financial prosecutor Eliane houlette yesterday

Dozens of French police raid Google’s offices. Tuesday, rising an investigation into alleged tax evasion.

“We have a very collected computer data,” said crook in an interview with Europe 1 radio, iTele TV channel and newspaper Le Monde, adding that 96 people participated in the attack.

“We have analyzed (data) … (it will) months, I hope it will not be for a few years, but we have very limited resources.”

Google, which says it fully complies with French law, has been under pressure in Europe from public opinion and governments angry at the way multinationals operate to reduce burdens their global presence.

(Sign by Maya Nikolaeva; Editing by David Goodman)