SHENZEN and BEIJING: When Matthew Scott was transferred to China to work as an engineer at Microsoft in 2006, he never thought there would be an opportunity to build his own start-up there.But, eschewing traditional innovation hub Silicon Valley, the American stayed on in China and is today the co-founder of an artificial intelligence start-up.“China’s a great place to do AI,” said the 37-year-old chief technology officer of Malong Technologies in Shenzhen, the southern Chinese city aiming to outdo Silicon Valley.“(Shenzen) is one of the best places to do hardware. And I have the network, and it felt like the right thing to do.”Once known as a cheap place to make copycat gadgets, the city has transformed into a tech hub that can do what Silicon Valley cannot: Combine innovation and entrepreneurship with manufacturing.Tech workers like Scott say this is not the only way in which China is setting an example for the world.“Everyone doing AI … [Read more...] about How China the copycat became a tech giant to rival the US
Ato hails tech giants 7 billion sales surge
Sotheby’s snapped up by French tycoon Drahi for $3.7 billion
PARIS/BOSTON -- Franco-Israeli cable magnate Patrick Drahi made a surprise move into the art world by snapping up Sotheby's in a deal worth $3.7 billion, marking the art auction house's return to private ownership after 31 years. The acquisition allows Drahi to join French billionaire Francois Pinault - who owns Sotheby's main rival Christie's - at the top of the art world and New York society. Drahi joins an exclusive club of French billionaires active in the global art market, which also includes LVMH's boss Bernard Arnault through his Louis Vuitton foundation. Drahi's expansion in the United States also has echoes of former Vivendi boss Jean-Marie Messier, who turned a struggling French water company into a global media giant with stakes in established US institutions. The deal also marks a new chapter for the 275-year-old auction house that became a destination for a new generation of wealth created on Wall Street, in Silicon Valley and around the world. In many ways, being public … [Read more...] about Sotheby’s snapped up by French tycoon Drahi for $3.7 billion
S. Korean tech giants feeling edgy over US-China trade disputes
South Korea's tech giants including Samsung Electronics and SK hynix are increasingly on edge over the ongoing economic brinkmanship between the United States and China, in light of a reported warning from Beijing not to co-operate with the Trump administration's China ban, according to industry sources Sunday. "We will need to step up monitoring on the issue," said an official from one of the major companies based in Seoul. "Companies here will watch the situation closely, hoping to hear from the Korean government." The comment was made after the New York Times reported that the Chinese government had summoned representatives of global tech companies, including Samsung and SK hynix, from Korea to Beijing and warned of "dire consequences" if they co-operated with the Trump administration's ban on Chinese firms. The meeting also included representatives of Microsoft and Dell from the US and Arm from the United Kingdom, the newspaper reported. Samsung and SK hynix declined to comment, … [Read more...] about S. Korean tech giants feeling edgy over US-China trade disputes
China warns tech giants after US Huawei ban: Report
WASHINGTON: The Chinese government convened top tech companies this week and warned them of consequences if they cut off technology sales to the country, US media reported on Saturday. The meeting followed US President Donald Trump’s move last month to blacklist Chinese tech giant Huawei over national security concerns, threatening the firm’s global ambitions and ramping up the months-long trade battle between the two countries. Earlier this week, the Chinese government summoned executives from American firms Dell and Microsoft and South Korea’s Samsung, among others, to warn them that any moves to ramp down their businesses in China may lead to retaliation, The New York Times reported. American companies were told “that the Trump administration’s move to cut off Chinese companies from American technology had disrupted the global supply chain, adding that companies that followed the policy could face permanent consequences,“ the newspaper reported. … [Read more...] about China warns tech giants after US Huawei ban: Report
ARM supply halt deals fresh blow to Chinese tech giant Huawei
LONDON: British chip designer ARM halted relations with Huawei to comply with a U.S. blockade of the company, potentially crippling the Chinese telecom company's ability to make new chips for its future smartphones.Huawei, like Apple Inc and Qualcomm, uses ARM blueprints to design the processors that power its smartphones. It also licenses graphics technology from the Cambridge-based company which is owned by Japan's SoftBank Group Corp.In another blow to the Chinese tech giant, Japanese conglomerate Panasonic Corp on Thursday joined the growing list of global companies which have said they are disengaging with Huawei, the world's second-largest seller of smartphones and the largest telecom-gear maker.Panasonic, which makes components used in smartphones and assembly lines, said it had stopped shipments of some components to Huawei. The Japanese firm will still sell some components to Huawei, a point it made clear on its China website.But ARM's move will have a much bigger impact on … [Read more...] about ARM supply halt deals fresh blow to Chinese tech giant Huawei