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Tech`s news

By Jake Spring BEIJING (Reuters) - China has given the green light to online ride-hailing services, issuing guidelines that establish a long-awaited framework for the booming industry and remove uncertainty for firms such as Didi Chuxing and U.S. rival Uber Technologies Inc [UBER.UL]. While globally Uber leads the sector, Didi claims 87 percent of the Chinese market for private ride-hailing. more...


By Yasmeen Abutaleb SAN FRANCISCO (Reuters) - Twitter Inc disappointed investors yet again on Tuesday with second-quarter earnings that missed estimates and a lower-than-expected outlook, reviving chatter about a possible sale of the company and the future of Chief Executive Officer Jack Dorsey. With the stock falling almost 15 percent Wednesday, Twitter shares are down 50 percent since Dorsey returned last summer to the helm of the social media company he co-founded. At a market cap of about $11 billon, compared with more than $40 billion at its peak, Twitter could now be a more attractive takeover target. more...


Facebook Inc provided more evidence on Wednesday that it can turn eyeballs into profit as the maker of the world's most popular app and social website trounced Wall Street's estimates, sending its shares to an all-time high. The leading social media company's mobile app and push into video attracted new advertisers and encouraged existing ones to spend more. "Facebook has shown that you can be a giant and you can be innovative," said analyst Patrick Moorhead of Moor Insights & Strategy. more...


Though Apple Inc is selling enough iPhones to keep investors happy for now, the world's most valuable publicly traded company is set increasingly to rely on its apps and services to drive growth. Apple's services business alone - which includes the App Store, Apple Pay and iCloud - will be "the size of a Fortune 100 company next year," Chief Executive Tim Cook said on a post-earnings call on Tuesday. Revenue from the business rose 19 percent to about $6 billion for the third quarter, eclipsing sales of iPads and Mac computers for the second consecutive quarter to rank as Apple's second-largest unit after iPhones. more...


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