Facebook hit with lawsuit over plan to issue new stock

By Dan Levine SAN FRANCISCO (Reuters) – A Facebook Inc shareholder filed a proposed class action lawsuit on Friday in a bid to stop the company's plan to issue new Class C stock, calling the move an unfair deal to entrench Chief Executive Mark Zuckerberg as controlling shareholder. The lawsuit, filed in the Delaware Court of Chancery, followed the social networking company's announcement on Wednesday of its plan to issue the shares. The rejiggering of Facebook's share structure is effectively a 3-for-1 stock split.

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Facebook hit with lawsuit over plan to issue new stock

Apple’s stock suffers worst week since 2013

By Noel Randewich SAN FRANCISCO (Reuters) – Apple Inc on Friday ended its worst week on the stock market since 2013 as worries festered about a slowdown in iPhone sales and after influential shareholder Carl Icahn revealed he sold his entire stake. Shares of Apple, a mainstay of many Wall Street portfolios and the largest component of the Standard & Poor's 500 index, have dropped 11 percent in the past five sessions. Confidence in the Cupertino, California company has been shaken since posting its first-ever quarterly decline in iPhone sales and first revenue drop in 13 years on Tuesday, although Apple investors pointed to the stock's relatively low valuation as a key reason to hold onto the stock.

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Apple’s stock suffers worst week since 2013

Uber vs. Ola: How fight for Indian taxi market ended up in court

By Aditi Shah and Aditya Kalra NEW DELHI (Reuters) – A flurry of complaints from Uber drivers about an unusually high number of canceled bookings was the spark that ignited a bitter legal fight with Ola, Uber's rival for dominance of India's $12 billion taxi market, according to court documents and a source with direct knowledge of Uber's case. A seven-member internal team was set up to investigate the drivers' complaints in November, and its findings are the basis of a lawsuit filed by Uber accusing Ola of a campaign to disrupt its business and poach its drivers, said the source. Ola, an Indian company backed by Japan's SoftBank Group Corp , denies any wrongdoing.

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Uber vs. Ola: How fight for Indian taxi market ended up in court

Amazon profit crushes estimates as cloud-service revenue soars

Amazon.com Inc on Thursday reported profit and revenue that blew past analysts' expectations, sending its shares soaring in after-hours trading and demonstrating the growing market power of its core retail business and new cloud services division. The results draw a sharp contrast to the disappointing fourth quarter Amazon reported in January, which renewed worries among some shareholders about the company's comparatively thin profit margins. Amazon's performance also assuaged concerns about a broader slowdown among tech and internet companies after Apple , Microsoft and Intel all reported disappointing earnings.

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Amazon profit crushes estimates as cloud-service revenue soars

Photo agency Getty asks EU to investigate Google over images

Photo agency has become the latest company to ask European competition regulators to investigate Google, accusing the Internet search giant of diverting users to its own images service to the detriment of competitors. The European Commission has already conducted a number of investigations into Alphabet Inc's Google, and has charged it with promoting its own shopping service at the expense of rivals and also of using its dominant Android mobile operating system to squeeze out competitors. Google has always denied any wrongdoing and said competition is just a click away.

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Photo agency Getty asks EU to investigate Google over images

Amid talk of ‘peak iPhone’, Apple’s prospects hinge on next model

Ask Siri if iPhone 7 will be the answer to Apple Inc's problems, and you're told that a visit to Apple's website should answer that question “and more”. Apple's shares were down 7.7 percent at $96.30 in early trading and were set for their biggest one-day fall in more than two years, a day after the company reported its first-ever fall in smartphone sales, arousing talk of “peak iPhone”. For many analysts, the company's immediate future rests with iPhone 7, which Apple is expected to launch in September.

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Amid talk of ‘peak iPhone’, Apple’s prospects hinge on next model

Look Mao, no hands! China’s roadmap to self-driving cars

By Jake Spring BEIJING (Reuters) – In the race to develop self-driving cars, the United States and Europe lead in technology, but China is coming up fast in the outside lane with a regulatory structure that could put it ahead in the popular adoption of autonomous cars on its highways and city streets. A draft roadmap for having highway-ready, self-driving cars within 3-5 years and autonomous vehicles for urban driving by 2025 could be unveiled as early as this year, said Li Keqiang, an automotive engineering professor at Tsinghua University who chairs the committee drafting the plan. Without coordination, that patchwork could hold back the development of self driving cars in the U.S., David Strickland, a former safety chief for the National Highway Traffic Safety Administration, said at an event in Beijing this month.

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Look Mao, no hands! China’s roadmap to self-driving cars

China ban on Apple services is a challenge for key growth area

The blocking of Apple mobile entertainment services in China poses fresh challenges for the tech company as it prepares to report its first-ever drop in iPhone sales. The news on Thursday that Apple Inc's online book and film services had gone dark in China came at a vulnerable moment for the company. Apple executives have said that iPhone sales will fall for the first time in the company's second quarter, and the results for that quarter will be released on Tuesday.

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China ban on Apple services is a challenge for key growth area