Kuka nears deal with Chinese bidder: source

BERLIN/FRANKFURT (Reuters) – German robotics maker Kuka is on the brink of agreeing to an investor agreement with Chinese bidder Midea that includes a long-term commitment to existing headquarters, factories and jobs, a source close to the negotiations said. Kuka needs to decide in the coming week whether it wants to recommend the acceptance of Midea's 4.5 billion euro ($4.99 billion) bid, the biggest German industrial technology company to be targeted by a Chinese buyer in a wave of recent deals. The source told Reuters that there had been a breakthrough in negotiations between Kuka and Midea, with the results presented to a meeting of the supervisory board on Saturday.

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Kuka nears deal with Chinese bidder: source

China tightens controls on paid-for internet search ads

China's internet regulator said on Saturday that search engines should tighten management of paid-for ads in search results, making clear which results are paid-for and limiting their numbers. Chinese regulators last month imposed limits on the number of lucrative healthcare adverts carried by Baidu Inc following the death of a student who underwent an experimental cancer treatment which he found using China's biggest internet search engine. Wei Zexi, 21, died in April of a rare form of cancer, and the case sparked widespread public anger.

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China tightens controls on paid-for internet search ads

Exclusive: Google, Facebook quietly move toward automatic blocking of extremist videos

By Joseph Menn and Dustin Volz SAN FRANCISCO/WASHINGTON (Reuters) – Some of the web’s biggest destinations for watching videos have quietly started using automation to remove extremist content from their sites, according to two people familiar with the process. The move is a major step forward for internet companies that are eager to eradicate violent propaganda from their sites and are under pressure to do so from governments around the world as attacks by extremists proliferate, from Syria to Belgium and the United States. YouTube and Facebook are among the sites deploying systems to block or rapidly take down Islamic State videos and other similar material, the sources said.

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Exclusive: Google, Facebook quietly move toward automatic blocking of extremist videos

Democrat gun control sit-in sparks social media sensation

A blackout of television cameras in the U.S. House Representatives during the Democrats' gun control sit-in may have spurred public interest in the protest as it forced the demonstrators to use social media to broadcast their message. Democrats leapt on Facebook Live and Twitter's Periscope after the cameras, controlled by the House, went dark Wednesday when presiding House officer and Republican Representative Ted Poe declared the chamber not in order during the protest. As Democrats took to alternative forms of video broadcasting, their message gained tremendous momentum from social media.

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Democrat gun control sit-in sparks social media sensation

Behind Tesla carnage, signs of support for Musk’s SolarCity deal

“It’s a natural evolution of their mission to transform transportation into a sustainable business,” said Joe Dennison, a portfolio manager of Zevenbergen Capital Investments, which has about 600,000 Tesla shares, or about 0.4 percent of shares outstanding.

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Behind Tesla carnage, signs of support for Musk’s SolarCity deal

SoftBank names domestic telecom chief Miyauchi as president

TOKYO (Reuters) – SoftBank Group Corp said Wednesday that Ken Miyauchi, head of the group's Japanese telecommunications operations, would become president and chief operating officer to replace Nikesh Arora. Arora, the former Google executive handpicked by the SoftBank founder Masayoshi Son as his successor, has abruptly quit as president after it became clear that Son wanted to remain at the helm longer than first planned. (Reporting by Makiko Yamazaki; Editing by Edwina Gibbs)

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SoftBank names domestic telecom chief Miyauchi as president

Tesla offers $2.8 billion for SolarCity in ‘no brainer’ deal for Musk

By Nichola Groom and Paul Lienert LOS ANGELES/DETROIT (Reuters) – Elon Musk on Tuesday sought to build a clean energy powerhouse as his electric car maker, Tesla Motors Inc , made an offer to buy his solar installation firm SolarCity Corp in a stock deal worth as much as $2.8 billion. Tesla shares plunged more than 13 percent to $189.99 in extended trading – amounting to a loss in value of about $4.3 billion, or more than the value of the offer for the other company. Shares of SolarCity rose about 18 percent to $25.02.

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Tesla offers $2.8 billion for SolarCity in ‘no brainer’ deal for Musk

Fed internal watchdog to study oversight of cybersecurity at banks

The Federal Reserve's internal watchdog plans to study how well the central bank is overseeing cybersecurity practices at financial institutions, the U.S. central bank said on Monday. The Office of Inspector General (OIG) at the Fed's Board of Governors plans to release the audit in the fourth quarter, the OIG said in a report on current and upcoming projects. Fed Chair Janet Yellen is due to appear before a U.S. Senate committee on Tuesday and will likely face questions about cybersecurity breaches involving the central bank.

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Fed internal watchdog to study oversight of cybersecurity at banks

Facebook investors OK new share class to keep Zuckerberg at helm

(Reuters) – Facebook Inc shareholders approved a proposal to create a new class of non-voting shares, a move aimed at letting Chief Executive Officer Mark Zuckerberg give away his wealth without relinquishing control of the social media company he founded. The company's plan to issue two “Class C” shares for each Class A and Class B share held by shareholders, in what is effectively a 3-for-1 stock split, was approved by Facebook shareholders at the company's annual general meeting on Monday. The Class C shares will be publicly traded under a new symbol.

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Facebook investors OK new share class to keep Zuckerberg at helm

Texas lawsuit seeks to overturn Austin’s Uber fingerprint rule

By Jon Herskovitz AUSTIN, Texas (Reuters) – An Austin City Council member who is a supporter of ride-hailing companies Uber [UBER.UL] and Lyft has filed a lawsuit to overturn a requirement for their drivers to undergo fingerprint criminal background checks approved in a May municipal vote. Donald Zimmerman filed the suit against the mayor on Thursday in a Texas district court seeking to overturn the May 7 ballot initiative, arguing its language was confusing, unlawful and did not provide enough information about fingerprint criminal background checks for drivers. Uber and Lyft spent more than $9 million in their failed attempt to defeat fingerprint requirements in Austin's May 7 vote, making it the most expensive political campaign in the city's history.

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Texas lawsuit seeks to overturn Austin’s Uber fingerprint rule