Two U.S. senators raise privacy concerns over Facebook's Messenger Kids






(Reuters) - Democratic U.S. senators Edward Markey and Richard Blumenthal have written to Facebook Inc (FB.O) questioning whether there was a “worrying pattern” of poor privacy protection for children using its Messenger Kids app.

The senators were disturbed to learn that the application allowed thousands of children to join group chats in which not all members of the group were approved by their parents, they said in a letter (here.pdf) addressed to Facebook Chief Executive Officer Mark Zuckerberg.

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SoftBank Group first-quarter profit blows past estimates on Vision Fund gains






TOKYO (Reuters) - Japan’s SoftBank Group Corp (9984.T) raked in a better-than-expected quarterly operating profit as it saw a leap in investing gains from its $100 billion Vision Fund.

The group’s results have been increasingly volatile as founder and Chief Executive Masayoshi Son shifts focus from the predictable income of telecoms in favor of bets, through its mega fund, on fast-growing startups with shifting valuations.

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China warns India of 'reverse sanctions' if Huawei is blocked - sources






NEW DELHI (Reuters) - China has told India not to block its Huawei Technologies [HWT.UL] from doing business in the country, warning there could be consequences for Indian firms operating in China, sources with knowledge of the matter said.

India is due to hold trials for installing a next-generation 5G cellular network in the next few months, but has not yet taken a call on whether it would invite the Chinese telecoms equipment maker to take part, telecoms minister Ravi Shankar Prasad has said.

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Toshiba quarterly profit jumps on cost cuts, but misses estimates






TOKYO (Reuters) - Japan’s Toshiba Corp (6502.T) reported on Wednesday a 10-fold jump in first-quarter operating profit as it stepped up cost cuts across divisions, but the profit missed analyst estimates.

The Japanese conglomerate has been consolidating factories, cutting jobs, revamping the procurement method to compensate for the loss of the prized chip business, sold last year to plug a multi-billion-dollar balance sheet hole left by the collapse of its U.S. nuclear power unit.

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Disney to bundle Disney+, Hulu, ESPN+ at popular Netflix price






(Reuters) - Walt Disney Co (DIS.N) on Tuesday said it would offer a $13-per-month bundle of its three streaming services starting in November, a move to attract audiences who have embraced digital services such as Netflix Inc (NFLX.O).

Disney’s bundle includes family-friendly digital offering Disney+, sports service ESPN+, and Hulu, which will cater to adults, for a $5-per-month discount. The Hulu offering in the bundle will include commercials.

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Nokia says Brazil 5G auction may be world's biggest yet






SAO PAULO (Reuters) - Finnish telecoms equipment maker Nokia Oyj expects Brazil to host the world’s biggest-ever single auction for fifth-generation (5G) spectrum next year, a senior executive told Reuters.

After partnering with Uruguayan state-run carrier Antel to deploy the first 5G network in Latin America, Nokia is setting its sights on Brazil, its biggest market in the region.

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Snap to raise $1 billion to invest in AR, possible acquisitions






(Reuters) - Snap Inc (SNAP.N) on Tuesday said it will raise $1 billion in short-term debt and plans to invest in more media content, augmented reality features and may also buy other companies.

The parent company of the popular disappearing messaging app Snapchat has revived its user growth and stock price after a rough 2018. It introduced mobile gaming within Snapchat and developed its AR features such as lenses that overlay bunny ears on a user’s photo, but faces competition from larger platforms like Facebook Inc (FB.O) and newer social media apps like TikTok.

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Swedish fintech Klarna valued at $5.5 billion in funding round






FRANKFURT (Reuters) - Online payments firm Klarna, which has attracted a growing following with its “buy now, pay later” service for shoppers, said on Tuesday it had raised $460 million in a funding round that makes it Europe’s most valuable fintech startup.

Investors led by San Francisco-based Dragoneer Investment Group put new money into the Swedish company, giving it a valuation of $5.5 billion and additional financial firepower to expand in the United States.

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Apple, Goldman Sachs start issuing Apple Cards to consumers






(Reuters) - Apple Inc and Goldman Sachs Group Inc rolled out a virtual credit card on Tuesday, which will help the iPhone maker diversify from device sales and also build out the Wall Street bank’s new consumer business.

With the card, Apple aims to draw in iPhone owners with 2% cash back on purchases with the Apple Pay service, no fees and an app to manage related finances.

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Trump agrees to prompt responses to license requests for Huawei sales






WASHINGTON (Reuters) - President Donald Trump agreed at a meeting with the heads of top technology companies like Google on Monday to make “timely” decisions on requests by U.S. companies to sell to blacklisted Huawei Technologies Co Ltd, the White House said.

But even as the CEOs of the companies “requested timely licensing decisions from the Department of Commerce,” the White House said in a statement that the executives expressed “strong support” for national security restrictions on U.S. telecom equipment purchases and sales to Huawei.

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