DIDI GLOBAL SYSTEMS MALFUNCTION
Will China maintain transparency as its rocket mishaps and military tests raise global concerns?
China's space program has faced setbacks but made strides with achievements like its own space station and lunar exploration. Safety concerns, use of hazardous fuels, and environmental risks persist amid ambitions and international tensions over space militarization.
China's Didi swings to profit in fourth quarter
Didi Global reported net income attributable to shareholders of 818 million yuan ($113.15 million) in the three months ending Dec. 31, compared with a loss of 953 million yuan a year ago. Revenues jumped 55.4% to 49.4 billion yuan for the quarter.
China's Didi Global app disruption due to software failure, not cyberattack
The country's largest ride-hailing company faced widespread criticism this week after users in several cities were unable to book rides on Monday evening and complained about encountering glitches while using the app in the following days.
China's Didi Global says ride-hailing app had 'systems malfunction'
Drivers and passengers began complaining about the issue around 10:30 p.m. local time (1430 GMT). Posts on Weibo, which reveals the locations of users, indicated that it was happening in several provinces, from eastern Zhejiang to northern Jilin.
China's Didi Global says ride-hailing app had 'systems malfunction'
Didi Global said on Monday its ride-hailing app had experienced a "systems malfunction" after users in multiple cities including Beijing and Shanghai said they were unable to book rides in the evening.
Ethereum is becoming more concentrated after a key infrastructure provider dropped out
On September 27, blockchain infrastructure provider Blocknative said it will stop operating as a so-called relay, a key participant in adding blocks of transactions to the Ethereum blockchain. Its exit leaves only four other major relay players to handle most Ethereum blocks and raises concern of potential problems, ranging from the censorship of transactions to stealing of other key operators’ profits.
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Toyota's Japan production at standstill as system failure hits assembly plants
Toyota Motor Corp has suspended operations at all of its assembly plants in Japan due to a production system malfunction. The glitch has prevented Toyota from ordering components and its cause is under investigation. The company believes that this incident is not a cyberattack.
China to end Ant Group's regulatory revamp with fine of at least $1.1 billion
Chinese authorities are likely to announce a fine of at least 8 billion yuan ($1.1 billion) on Ant Group as soon as Friday, sources with direct knowledge of the matter said, bringing an end to the fintech company's years-long regulatory overhaul.
Mid-air malfunctions come on top of SpiceJet’s financial woes
SpiceJet, known for naming its aircraft after the aromatics used to flavor food, has struggled in India’s cut-throat aviation market -- the world’s fastest growing -- where even before the pandemic fierce price wars led to wafer-thin margins. Covid-19, which destroyed travel, came as a potentially fatal blow for many carriers around the world, including SpiceJet, as their main revenue source dried up.
Servotech develops solar performance monitoring device
According to the statement, this device -- dubbed as ComPort -- has been successfully tested with the portable solar system PV port at the EUREF-Campus in Berlin, Germany. A revolutionary breakthrough in its class, ComPort can be integrated into any domestic off-grid/hybrid solar system and turn it into a smart solar system.
Didi shareholders vote to delist from NYSE in wake of China's tech crackdown
Didi’s biggest shareholders, which include SoftBank Group Corp., Tencent Holdings Ltd. and Uber Technologies Inc., have watched Didi’s shares fall about 90% since going public, when it was valued around $80 billion. After delisting, the company will likely see its stock traded over the counter on the so-called pink-sheets market, home to penny stocks and other riskier businesses.
Didi to halt Hong Kong listing plans
The Cyberspace Administration of China told Didi executives that their proposals to prevent security and data leaks had fallen short, Bloomberg said, citing people familiar with the matter.
China's offshore listing rules should reduce market uncertainty
Companies using a so-called variable interest entity (VIE) structure will still be allowed to seek offshore listings as long as they are compliant.
Didi shares plunge more than 20% on plan to delist from NYSE
The company's shares fell 22.17%, losing about $8.4 billion in market value. At their Friday close of $6.07, Didi shares have fallen about 57% since their June 30 IPO price.
Paytm’s wild ride continues; China asks Didi to delist from US
All eyes are set on tomorrow as India's digital payment giant Paytm is set to announce its quarterly and half-yearly results even as its share price today fell after three days of gain.
Not China, India will be my first bet outside the US: John Chambers, CEO, JC2 Ventures
China has in recent months launched a campaign to reign in technology companies, which it considers to be wielding great influence.
Loans, taxis, education: what’s next in China’s tech crackdown?
Chinese entrepreneurs truly believed China had abandoned socialism and the Chinese Communist Party would never sacrifice China’s vibrant internet ecosystem. The ongoing tech crackdown has laid waste to that belief.
View: India needs a stronger data culture that runs parallel to the system
But was that finding really surprising? Not at all. Simply because right from the moment the pandemic started last year, the self-reported number of ILI (influenza-like illness) symptoms was multiple times the Covid-positive numbers reported. There is a direct correlation between the positive cases reported and the tests conducted.
The world’s billionaire factory shudders as China cracks down
Beijing’s motivations for the crackdown are varied. These include concerns about anti-competitive behaviour in the tech industry, risks to financial stability from lightly regulated lending platforms and the rapid proliferation of sensitive personal information in the hands of large corporations.
Court comes down hard on Twitter
In today’s ETtech Top 5 Newsletter: Delhi High Court gives government a free hand on Twitter; Pine Labs gets funding at $3.5 billion valuation ahead of IPO; and InMobi’s Glance plans to take on TikTok and Instagram.
Digital payments boom again
From UPI's record growth to Flipkart's social commerce bet and Zomato seeking CCI nod for Grofers deal, here's a quick look at the top tech news today.
Volvo to provide cars for Didi Chuxing's self-driving test fleet
Volvo will provide XC90 SUVs equipped with backup steering and braking systems that DiDi Autonomous Driving will integrate with Didi Gemini, its new self-driving hardware platform.
Data skimmers
In today's ETtech Top 5: the personal data of around half a billion LinkedIn users is up for sale online, and more.
Uber’s CEO vows to tackle those losses, with help from India
Khosrowshahi says Uber will continue to invest there, and is confident his team can build products that fit not just the Indian market but could also be exported to growth regions of the next decade from the Middle East to Africa.
Clue linking Boeing 737 Max disasters came from space
A new satellite network capable of tracking planes in high fidelity across the globe captured the flight path of the Boeing 737 Max that crashed on Sunday.
Use GPS to track movement of EVMs & VVPATs: EC to states ahead of Lok Sabha Polls
The instructions will come into effect during the Lok Sabha elections & all states have been asked to submit a consolidated compliance report.
Flipkart world's 3rd most funded private company
The homegrown e-commerce company has to date raised almost $7 billion in capital, higher than that raised by global behemoths like Airbnb and Xiaomi.
China's Didi opens R&D centre in US to attract global talent
The DIDI Labs in Mountain View, California will primarily focus on big-data-based security and intelligent driving technology, and are a landmark step for the company to create a global innovation nexus.
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