Uber buys rival Careem in $3.1 billion deal to dominate ride-hailing in Middle East






SAN FRANCISCO (Reuters) - Global ride-hailing firm Uber Technologies Inc will spend $3.1 billion to acquire Middle East rival Careem, buying dominance in a competitive region ahead of a hotly anticipated initial public offering.

Uber said late Monday night it would pay $1.4 billion in cash and $1.7 billion in convertible notes in a deal that gives it full ownership of Careem. The long-expected agreement ends more than nine months of start-and-stop negotiations between the two companies and hands Uber a much-needed victory after a series of overseas divestments.

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Bahrain to use Huawei in 5G rollout despite U.S. warnings






DUBAI (Reuters) - Bahrain, headquarters of the U.S. Navy’s Fifth Fleet, plans to roll out a commercial 5G mobile network by June, partly using Huawei technology despite the United States’ concerns the Chinese telecom giant’s equipment could be used for spying.

Washington has warned countries against using Chinese technology, saying Huawei could be used by Beijing to spy on the West. China and Huawei have strongly rejected the allegations.

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Innoviz, Ouster raise millions for self-driving lidar sensors






(Reuters) - Self-driving technology continues to attract robust investment, as two tech startups, one in San Francisco and one near Tel Aviv, said this week they have raised nearly $200 million to support development and production of lidar sensors for automated vehicles.

Israeli startup Innoviz Technologies said on Tuesday it raised $132 million, taking its total funding to $214 million, surpassing the money raised by sector leaders Velodyne and Quanergy, each of which is valued at around $2 billion. Innoviz did not provide a valuation figure.

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China's Huawei sees little impact on sales from U.S. broadside






SHENZHEN/HONG KONG (Reuters) - The U.S. campaign against China’s Huawei is having little impact on the company’s sales and it is unlikely many countries will follow the United States in banning Huawei from building next-generation mobile networks, its rotating Chairman Eric Xu said.

“Recently we are seeing a large number of countries making their own decisions,” Xu said during an interview at Huawei Technologies’ headquarters in Shenzhen.

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Adobe, Microsoft to take on Salesforce's marketing software, with LinkedIn as a weapon






SAN FRANCISCO (Reuters) - Adobe Inc and Microsoft Corp are partnering to bolster each other’s sales and marketing software capabilities, taking aim at common rival Salesforce.com Inc, they said on Tuesday.

Adobe and Microsoft hope to make it easier for users of Adobe’s marketing software to find and target teams of potential customers for business goods on LinkedIn, the social network owned by Microsoft, they said at a conference in Las Vegas.

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Huawei presents flagship smartphone in Paris during Chinese leader's visit






PARIS (Reuters) - Huawei, the world’s third-largest smartphone maker, presented its new flagship phone in Paris on Tuesday with the hope of making further gains in Europe, a region where its other products could face in-depth scrutiny for security reasons.

Huawei’s P30 Pro, which has four rear cameras - including a so-called “time of flight” camera that helps its artificial intelligence create better exposures - will aim to take on Samsung’s Galaxy S10 and Apple’s iPhone X.

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Citigroup to enter burgeoning consumer payments business






(Reuters) - Citigroup Inc said on Tuesday it is developing a consumer-payments platform, in a move to enter the rapidly growing digital payments industry.

Citis new service will offer merchants a range of consumer payment options to collect money, including from credit cards and e-wallets, the company said. This will expand its product portfolios within its mainstay business-to-business (B2B) payment offerings. [reut.rs/2CAEJXO]

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EU lawmakers back copyright reforms targeting Google, Facebook






STRASBOURG (Reuters) - EU lawmakers have endorsed an overhaul of the bloc’s two-decade old copyright rules, which will force Google and Facebook Inc to pay publishers for use of news snippets and make them filter out protected content.

The European Parliament backed the reforms by 348 votes to 274 on Tuesday after a debate that has pitted Europe’s creative industry against tech companies, internet activists and consumer groups concerned that the new rules may be too costly and block too much content.

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Stocks making the biggest moves after hours: Nike, Cintas, GameStop and more






Check out the companies making headlines after the bell:

Shares of Nike dropped more than 3 percent in extending trading Thursday following the release of the retailers better-than-expected third-quarter earnings results. Nike posted earnings per share of 68 cents, beating estimates of 65 cents, according to Refinitiv. Revenue came in-line with Wall Streets expectations at $9.61 billion. The stock was down on weaker-than-expected sales growth in North America.

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