Reuters | |

Thomson Reuters Corp reported higher fourth-quarter revenue on Tuesday and said it would start a two-year program that will change it from a holding company to an operating company.

The news and information company, which owns Reuters News, said revenues rose 2% to $1.62 billion, while its operating profit jumped more than 300% to $956 million, reflecting the sale of an investment, a gain from an amendment to pension plan and lower costs.

Reuters | |

A record rush to big technology stocks saw equity funds bagging $27.8 billion inflows last week with the ongoing ultra-easy monetary policy creating the “mother-of-all asset bubbles”, BofA said on Friday.

Global market capitalization has risen $50 trillion, or $6.2 billion per hour, since last March, almost 10 times faster than the pace seen in the immediate aftermath of the 2008 global financial crisis, the U.S. investment bank said.

Reuters | |

Bosch will work with Microsoft on a software platform for vehicles, it said on Thursday, as it strives to get a foot in the door to the fast-growing market for electromobility and automated driving technologies.

By using cloud technology, the software platform will ensure that vehicles’ control units and computers can get software throughout their life time, the German auto supplier said.

Reuters | |

Apple Inc has partnered with Taiwan Semiconductor Manufacturing Co to develop micro OLED displays, which it plans to use in its upcoming augmented reality (AR) devices, Nikkei Asia reported on Wednesday.

Apple is collaborating with TSMC, the sole supplier of iPhone processors, as micro OLED displays are far thinner, smaller and use less power, making them more suitable for use in wearable AR devices, the report said.

Kimberly Redmond | |

Apple Inc is testing new iOS software that will enable iPhone users to unlock their device while wearing a face mask – as long as they are wearing an Apple Watch.

The update released this week, which is part of a beta test expected to be broadly rolled out soon, enables an iPhone to communicate with a synced Apple Watch when the smartphone is raised to use Face ID.

Reuters | |

Ford Motor Co will tap into software, artificial intelligence and cloud computing offered by Alphabet Inc’s Google to develop new consumer services and modernize internal operations, the companies said on Monday.

As part of a six-year partnership, the Dearborn, Michigan-based automaker will incorporate the tech giant’s Android operating system into its Ford and Lincoln vehicles starting in 2023.

Reuters | |

Qualtrics International Inc was valued at over $15 billion in its initial public offering, against the backdrop of a capital market frenzy that has seen investors flock to technology stocks.

The survey-software seller, owned by German business software giant SAP SE, said on Thursday it raised about $1.55 billion in its upsized initial public offering.

Qualtrics sold about 51.7 million shares priced at $30 each, it said in a regulatory filing. The company had earlier aimed to sell 50.4 million shares at $27-$29 each.

Equities Staff | |

Apple announced Monday that Dan Riccio, its longtime head of hardware engineering, is transitioning to a new role at the company.

Riccio, who's run hardware engineering since 2012 and has been with Apple since 1998, will be "focusing on a new project" and continue to report directly to CEO Tim Cook, according to the company's press release.

In his 23 years at Apple, Riccio has been a leader in the design and development of landmark products including the first generation iMac, 5G iPhones, Macs based on Apple's own M1 chip and AirPods Max.

Reuters | |

The world’s 20 best-performing hedge funds earned $63.5 billion for clients in 2020, setting a record for the last 10 years during a chaotic time when technology oriented stocks led a dramatic rebound from a pandemic induced sell-off, LCH Investments data show.

As a group, the most successful managers earned half of the $127 billion that all hedge funds made last year, LCH Investments, a fund of funds firm that tracks returns and is part of the Edmond de Rothschild group, reported.

Reuters | |

IBM Corp missed Wall Street estimates for quarterly revenue on Thursday, hurt by a rare sales decline in its software unit as clients shied away from longer-term deals due to pandemic-induced economic uncertainty.

The 109-year-old firm is preparing to split itself into two public companies and the namesake firm will focus on the so-called hybrid cloud, where companies use a combination of their own datacenters and leased resources to manage and process data.