Reuters editorial innovation director, London
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Jul 1, 2015

Global Fashion raises 150 million euros, valuing it at 3.1 billion euros

FRANKFURT (Reuters) – Global Fashion Group, the e-commerce firm backed by Kinnevik and Rocket Internet, has raised 150 million euros ($166.52 million) in funding, valuing the possible stock market flotation candidate at 3.1 billion euros ($3.45 billion).

The financing round in Global Fashion Group, or GFG, was led by Swedish investor Kinnevik and Germany’s Rocket Internet, each of which will have slightly reduced ownership stakes as a result of increased investments by other, unnamed parties.

Jul 1, 2015

Global Fashion raises 150 mln euros, valuing it at 3.1 bln euros

FRANKFURT, July 1 (Reuters) – Global Fashion Group, the
e-commerce firm backed by Kinnevik and Rocket
Internet, has raised 150 million euros ($166.52
million) in funding, valuing the possible stock market flotation
candidate at 3.1 billion euros ($3.45 billion).

The financing round in Global Fashion Group, or GFG, was led
by Swedish investor Kinnevik and Germany’s Rocket Internet, each
of which will have slightly reduced ownership stakes as a result
of increased investments by other, unnamed parties.

Jun 30, 2015

Fintech explosion puts banks in digital firing line

FRANKFURT (Reuters) – The world’s top banks and insurers are seeing their business models challenged by “fintech” start-ups, which are reshaping what consumers and businesses expect from financial services, industry insiders and experts say.

A report out Tuesday from the World Economic Forum (WEF), the Swiss-based corporate think-tank which runs the Davos summit of world leaders, says major disruptions lie ahead for the once highly profitable financial services industry.

Jun 30, 2015

World Economic Forum sees finance industry in digital firing-line

FRANKFURT, June 30 (Reuters) – The world’s top banks and
insurers are being forced to review their business models amid
rapid inroads by nimble “fintech” start-ups, which are reshaping
what consumers and businesses expect out of financial services,
a report out Tuesday said.

The report by the World Economic Forum (WEF), the
Swiss-based corporate think-tank which runs the Davos summit of
world leaders each January, says major disruptions are in store
for many once highly profitable financial services businesses.

Jun 25, 2015

Many big companies live in fear for their future in digital age

FRANKFURT, June 25 (Reuters) – The top executives of many a
corporate giant must feel like the fictional character Gulliver,
waking up to find themselves under attack from modern-day
Lilliputians, small start-up companies which overwhelm their
established rivals with new technologies.

The old powers of market incumbents – massive scale, control
over distribution, brand power, millions of customer
relationships – are no longer seen as the obstacles they once
were to agile rivals with innovative business models.

Jun 22, 2015

Polish airline, hit by cyber attack, says all carriers are at risk

WARSAW/FRANKFURT, June 22 (Reuters) – No airline is safe
from the type of cyber attack that grounded aircraft and
hundreds of passengers at Poland’s busiest airport at the
weekend, the chief executive of Polish national carrier LOT
said on Monday.

Poland’s domestic intelligence agency said it had been
called in to investigate, but there was no word on who might be
responsible for the attack, which disabled the system LOT uses
for issuing flights plans.

Jun 22, 2015

Facebook gaining ground on YouTube in video ads, report says

FRANKFURT/PARIS, June 22 (Reuters) – Facebook is
gaining ground on Google’s YouTube as an outlet for
big companies to market their products via online videos, the
fastest growing category of Internet ads, a report published on
Monday said.

The competition for video viewers opens up a new front in
the clash between the two web giants that already compete in
other types of advertising given their appeal to young and
international consumers, Ampere Analysis said in a study.

Jun 16, 2015

French network management firm eyes vast Internet of Things grids

FRANKFURT, June 16 (Reuters) – Actility, a supplier of
software used to manage far-flung sensor networks dubbed the
Internet of Things, said on Tuesday it has taken $25 million in
new funding from top European telecom operators and the world’s
largest contract electronics maker.

The financing round is led by Ginko Ventures, which is in
turn backed by Taiwan’s Foxconn Technology, the
world’s largest electronics manufacturer, along with telecom
operators KPN, Orange and Swisscom.

Jun 16, 2015

France’s Food Assembly benefits from European tech funding rush

FRANKFURT, June 16 (Reuters) – French online farmers’ market
La Ruche qui dit Oui – branded as The Food Assembly in English -
has won 8 million euros ($9 million) in funding as venture
capital firms seek to enter Europe’s expanding “food tech”
market.

The five-year-old company has been backed by investors
including Felix Capital, the $120 million London-based European
venture fund recently launched by Frederic Court, and Fred
Wilson of New York-based Union Square Ventures.

Jun 15, 2015

Kaspersky says Iran talks spyware masqueraded under Foxconn name

FRANKFURT/SAN FRANCISCO (Reuters) – Further research into the sophisticated computer virus used to hack into hotels where the Iran nuclear talks took place has found it took advantage of digital credentials stolen from the world’s top contract electronics maker Foxconn.

Russian security company Kaspersky Lab said on Monday that researchers learned the Duqu 2.0 virus had redirected computer traffic by using a legitimate digital certificate from Taiwan’s Hon Hai, also known as Foxconn.

    • About Eric

      "Eric Auchard is editiorial innovation director at Reuters News. He builds tools to help journalists at the world's largest news organization report, edit and present the news. In 2009, Eric was a technology investment columnist for Reuters. Previously, he was the chief technology correspondent from 2000 to 2008. His main focus was covering consumer Internet trends, global technology competition and emerging technologies. He has worked for Reuters covering technology news since 1993. He began covering politics for Reuters in in California in 1992, then moved to Washington. He moved to New York and switched to technology writing for Reuters late in 1993. ..."
      Joined Reuters:
      1993
      Languages:
      English
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