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(Corrects television station name to NewsNation, paragraph 2) TAIPEI (Reuters) -Taiwan will not agree to a deal with the United States for half of all semiconductor production to take place in the country, the island's top tariff negotiator said on Wednesday after returning home. U.S. Secretary of Commerce Howard Lutnick told U.S. television network NewsNation over the weekend that Washington's pitch to Taiwan would be a 50-50 split in making chips, the vast majority of which are now made on the island. Taiwan Vice Premier Cheng Li-chiun, who is leading the tariff talks with Washington, told reporters upon getting back to the island that she had not discussed the 50-50 idea suggested by the U.S. during the talks. "Our negotiating team has never made any commitment to a 50-50 split on chips. Rest assured, we did not discuss this issue during this round of talks, nor would we agree to such conditions," she said, according to Taiwan's official Central News Agency. Neither the U.S. Commerce Department nor the Office of the United States Trade Representative responded to requests for comment sent outside of U.S. business hours. Taiwan, home to the world's biggest contract chipmaker TSMC, runs a large trade surplus with the United States. The island's exports to the United States are currently subject to a 20% tariff. TSMC, whose business is surging on strong demand for artificial intelligence applications, is investing $165 billion to build chip factories in the U.S. state of Arizona, though the bulk of its production will remain in Taiwan. Taiwan's government said last month that it hoped for a more favourable tariff rate from the United States after talks achieved "certain progress". Speaking in parliament in Taipei on Tuesday, Premier Cho Jung-tai said Cheng had had multiple talks with the United States on tariff issues. "The most critical substantive consultations are currently underway," he said. Cheng, speaking at the airport, said that "detailed" discussions had taken place which yielded "certain progress", the Central News Agency added. (Reporting by Ben BlanchardEditing by Shri Navaratnam)

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TAIPEI (Reuters) -Taiwan will not agree to a deal with the United States for half of all semiconductor production to take place in the country, the island's top tariff negotiator said on Wednesday after returning home. U.S. Secretary of Commerce Howard Lutnick told U.S. television network NewsNation over the weekend that Washington's pitch to Taiwan would be a 50-50 split in making chips, the vast majority of which are now made on the island. Taiwan Vice Premier Cheng Li-chiun, who is leading the tariff talks with Washington, told reporters upon getting back to the island that she had not discussed the 50-50 idea suggested by the U.S. during the talks. "Our negotiating team has never made any commitment to a 50-50 split on chips. Rest assured, we did not discuss this issue during this round of talks, nor would we agree to such conditions," she said, according to Taiwan's official Central News Agency. Neither the U.S. Commerce Department nor the Office of the United States Trade Representative responded to requests for comment sent outside of U.S. business hours. Taiwan, home to the world's biggest contract chipmaker TSMC, runs a large trade surplus with the United States. The island's exports to the United States are currently subject to a 20% tariff. TSMC, whose business is surging on strong demand for artificial intelligence applications, is investing $165 billion to build chip factories in the U.S. state of Arizona, though the bulk of its production will remain in Taiwan. The company declined to comment on proposals for a 50-50 chip production deal. Taiwan's government said last month that it hoped for a more favourable tariff rate from the United States after talks achieved "certain progress". Speaking in parliament in Taipei on Tuesday, Premier Cho Jung-tai said Cheng had had multiple talks with the United States on tariff issues. "The most critical substantive consultations are currently underway," he said. Cheng, speaking at the airport, said that "detailed" discussions had taken place which yielded "certain progress", the Central News Agency added. Separately, Taiwan's presidential office said late on Tuesday that President Lai Ching-te had met the visiting Luke J. Lindberg, Under Secretary for Trade and Foreign Agricultural Affairs at the U.S. Department of Agriculture. Lai said that a Taiwan agricultural delegation visiting the United States in September planned to buy $10 billion of U.S. agricultural goods over the coming four years, including soybeans, wheat, corn and beef. (Reporting by Ben Blanchard; Editing by Shri Navaratnam and Stephen Coates)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Supantha Mukherjee STOCKHOLM (Reuters) -When Daniel Ek founded Spotify in 2006, a viable music product was a "moon shot." The global music industry was struggling with years of declining sales, online music piracy was rampant, and services like Apple's iTunes were pricey. Ek believed if access to music was as easy as turning on a tap – in a way that was legal and fair to artists – users would come. The key was streaming, not downloads, an idea that revolutionized the industry and catapulted Spotify into a $140 billion music powerhouse. The serial entrepreneur, who announced on Tuesday he will step down as Spotify's CEO next year, has his sights set on building the next Spotify — albeit not in the music industry. Ek told Reuters on Wednesday he wants to focus on companies in Europe that are "working on some of the biggest challenges through technology that make a meaningful difference." "Big challenges often appear impossible until someone decides to tackle them," Ek said in an email. "At Spotify, we started with what felt like an impossible idea. Nearly 20 years later, that idea is used by almost three-quarters of a billion people around the world … What once looked unreasonable is now obvious." Calling himself an "optimist" and a "problem-solver at heart," Ek said, "We’re at a crossroads for the kind of future we want to build" and that transitioning into the role of executive chair at Spotify would give him the chance to dedicate more of his time to this kind of problem-solving and building beyond Spotify. Ek has pledged to invest through his venture capital firm Prima Materia 1 billion euros ($1.18 billion) of his own wealth in European “moonshot” projects — early-stage startups in deep technology, AI, and climate and health tech. WAR TECH SPARKS ARTIST BACKLASH In 2018, Ek co-founded Neko Health to help people stay healthy through preventive measures and early detection. The company has raised $325 million in total funding. Ek has also invested in Germany's Helsing, a maker of AI-controlled combat drones that has received over a billion dollars to become the largest defence startup in Europe, valued at $12 billion. This investment, though, has drawn criticism. Music groups including Massive Attack, King Gizzard & the Lizard Wizard, and Hotline TNT removed their music from Spotify in protest.  "Music and weapons are not a good mix," said Simon Dyson, analyst at Omdia. With some high-profile artists pulling their music from the service, "the sounds of protest are starting to become a distraction," he said. The company declined to comment on Ek's investment in Helsing. Ek has weathered criticism before, from artist pay disputes to controversies around Spotify’s podcast investments. Supporters credit him with creating a legal model that drew listeners away from piracy, but critics note Spotify's outsized influence on artists, which has often translated to inequity for independent labels. FROM CODER TO MUSIC INDUSTRY DISRUPTOR As a 23-year-old coder, Ek started Spotify to challenge online music piracy with a legal alternative, something even big music companies were struggling to address. When he steps down from the CEO role next year to become executive chair, he will pass the reins of a music giant to his two long-trusted aides, Gustav Soderstrom and Alex Norstrom. Ek, now 42, grew up in a Stockholm suburb and worked in several startups before teaming up with co-founder Martin Lorentzon to start Spotify.  His proposition – music funded by subscriptions and ads – helped redirect fans from piracy and pulled labels, artists and advertisers into a single marketplace.  Under Ek, Spotify pushed three big levers that reshaped the business: price-disciplined subscriptions, algorithmic playlists that could mint hits overnight, and an ever-widening content range, from podcasts to audiobooks.  Ek’s legacy is visible in Spotify user habits – a monthly fee that millions treat as a utility, playlists that serve as cultural gatekeepers, and podcasts that have become a daily routine.  A Netflix miniseries, "The Playlist", showcased the birth and rise of Spotify in 2022.  Although Ek plans to focus on building other companies, he intends to stay involved in Spotify. "My Spotify co-founder likes to say that the value of a company is the sum of all problems solved, and history shows that progress often comes from those willing to go against conventional wisdom," Ek told Reuters. ($1 = 0.8511 euros) (Reporting by Supantha Mukherjee in Stockholm; Editing by Sayantani Ghosh and Lisa Shumaker)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Supantha Mukherjee STOCKHOLM (Reuters) -When Daniel Ek founded Spotify in 2006, a viable music product was a "moon shot." The global music industry was struggling with years of declining sales, online music piracy was rampant, and services like Apple's iTunes were pricey. Ek, then a 23-year-old coder, believed if access to music was as easy as turning on a tap – in a way that was legal and fair to artists – users would come. The key was streaming, not downloads, an idea that revolutionized the industry and catapulted Spotify into a $140 billion music powerhouse. The serial entrepreneur, who announced on Tuesday he will step down as Spotify's CEO next year, has his sights set on building the next Spotify — albeit not in the music industry. Ek told Reuters on Wednesday he wants to focus on companies in Europe that are "working on some of the biggest challenges through technology that make a meaningful difference." "Big challenges often appear impossible until someone decides to tackle them," Ek said in an email. "At Spotify, we started with what felt like an impossible idea. Nearly 20 years later, that idea is used by almost three-quarters of a billion people around the world … What once looked unreasonable is now obvious." Calling himself an "optimist" and a "problem-solver at heart," Ek said, "We’re at a crossroads for the kind of future we want to build" and that transitioning into the role of executive chair at Spotify would give him the chance to dedicate more of his time to this kind of problem-solving and building beyond Spotify. Ek has pledged to invest through his venture capital firm Prima Materia 1 billion euros ($1.18 billion) of his own wealth in European “moonshot” projects — early-stage startups in deep technology, AI, and climate and health tech. WAR TECH SPARKS ARTIST BACKLASH In 2018, Ek co-founded Neko Health to help people stay healthy through preventive measures and early detection. The company has raised $325 million in total funding. Ek has also invested in Germany's Helsing, a maker of AI-controlled combat drones that has received over a billion dollars to become the largest defence startup in Europe, valued at $12 billion. This investment, though, has drawn criticism. Music groups including Massive Attack, King Gizzard & the Lizard Wizard, and Hotline TNT removed their music from Spotify in protest.  "Music and weapons are not a good mix," said Simon Dyson, analyst at Omdia. With some high-profile artists pulling their music from the service, "the sounds of protest are starting to become a distraction," he said. A Spotify spokesperson declined to comment on Ek's investment in Helsing, and pointed Reuters to Helsing's statement dated September 17 that said: "We see misinformation spreading that Helsing’s technology is deployed in war zones other than Ukraine. This is not correct. Our technology is deployed to European countries for deterrence and for defence against the Russian aggression in Ukraine only." Ek has weathered criticism before, from artist pay disputes to controversies around Spotify’s podcast investments. Supporters credit him with creating a legal model that drew listeners away from piracy, but critics note Spotify's outsized influence on artists, which has often translated to inequity for independent labels. FROM CODER TO MUSIC INDUSTRY DISRUPTOR Ek, now 42, grew up in a Stockholm suburb and worked in several startups before teaming up with co-founder Martin Lorentzon to start Spotify.  His proposition – music funded by subscriptions and ads – helped redirect fans from piracy and pulled labels, artists and advertisers into a single marketplace.  Under Ek, Spotify pushed three big levers that reshaped the business: price-disciplined subscriptions, algorithmic playlists that could mint hits overnight, and an ever-widening content range, from podcasts to audiobooks.  Ek’s legacy is visible in Spotify user habits – a monthly fee that millions treat as a utility, playlists that serve as cultural gatekeepers, and podcasts that have become a daily routine.  Although Ek plans to focus on building other companies, he intends to stay involved in Spotify. "My Spotify co-founder likes to say that the value of a company is the sum of all problems solved, and history shows that progress often comes from those willing to go against conventional wisdom," Ek told Reuters.  ($1 = 0.8511 euros) (Reporting by Supantha Mukherjee in Stockholm; Editing by Sayantani Ghosh and Lisa Shumaker)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Supantha Mukherjee STOCKHOLM (Reuters) -When Daniel Ek founded Spotify in 2006, a viable music product was a "moon shot." The global music industry was struggling with years of declining sales, online music piracy was rampant, and services like Apple's iTunes were pricey. Ek, then a 23-year-old coder, believed if access to music was as easy as turning on a tap – in a way that was legal and fair to artists – users would come. The key was streaming, not downloads, an idea that revolutionized the industry and catapulted Spotify into a $140 billion music powerhouse. The serial entrepreneur, who announced on Tuesday he will step down as Spotify's CEO next year, has his sights set on building the next Spotify — albeit not in the music industry. Ek told Reuters on Wednesday he wants to focus on companies in Europe that are "working on some of the biggest challenges through technology that make a meaningful difference." "Big challenges often appear impossible until someone decides to tackle them," Ek said in an email. "At Spotify, we started with what felt like an impossible idea. Nearly 20 years later, that idea is used by almost three-quarters of a billion people around the world … What once looked unreasonable is now obvious." Calling himself an "optimist" and a "problem-solver at heart," Ek said, "We’re at a crossroads for the kind of future we want to build" and that transitioning into the role of executive chair at Spotify would give him the chance to dedicate more of his time to this kind of problem-solving and building beyond Spotify. Ek has pledged to invest through his venture capital firm Prima Materia 1 billion euros ($1.18 billion) of his own wealth in European “moonshot” projects — early-stage startups in deep technology, AI, and climate and health tech. WAR TECH SPARKS ARTIST BACKLASH In 2018, Ek co-founded Neko Health to help people stay healthy through preventive measures and early detection. The company has raised $325 million in total funding. Ek has also invested in Germany's Helsing, a maker of AI-controlled combat drones that has received over a billion dollars to become the largest defence startup in Europe, valued at $12 billion. This investment, though, has drawn criticism. Music groups including Massive Attack, King Gizzard & the Lizard Wizard, and Hotline TNT removed their music from Spotify in protest.  "Music and weapons are not a good mix," said Simon Dyson, analyst at Omdia. With some high-profile artists pulling their music from the service, "the sounds of protest are starting to become a distraction," he said. A Spotify spokesperson declined to comment on Ek's investment in Helsing, and pointed Reuters to Helsing's statement dated September 17 that said: "We see misinformation spreading that Helsing’s technology is deployed in war zones other than Ukraine. This is not correct. Our technology is deployed to European countries for deterrence and for defence against the Russian aggression in Ukraine only." Ek has weathered criticism before, from artist pay disputes to controversies around Spotify’s podcast investments. Supporters credit him with creating a legal model that drew listeners away from piracy, but critics note Spotify's outsized influence on artists, which has often translated to inequity for independent labels. FROM CODER TO MUSIC INDUSTRY DISRUPTOR Ek, now 42, grew up in a Stockholm suburb and worked in several startups before teaming up with co-founder Martin Lorentzon to start Spotify.  His proposition – music funded by subscriptions and ads – helped redirect fans from piracy and pulled labels, artists and advertisers into a single marketplace.  Under Ek, Spotify pushed three big levers that reshaped the business: price-disciplined subscriptions, algorithmic playlists that could mint hits overnight, and an ever-widening content range, from podcasts to audiobooks.  Ek’s legacy is visible in Spotify user habits – a monthly fee that millions treat as a utility, playlists that serve as cultural gatekeepers, and podcasts that have become a daily routine.  Although Ek plans to focus on building other companies, he intends to stay involved in Spotify. "My Spotify co-founder likes to say that the value of a company is the sum of all problems solved, and history shows that progress often comes from those willing to go against conventional wisdom," Ek told Reuters.  ($1 = 0.8511 euros) (Reporting by Supantha Mukherjee in Stockholm; Editing by Sayantani Ghosh and Lisa Shumaker)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Apple has halted a planned overhaul of its Vision Pro mixed-reality headset to shift resources to smart glasses that would rival products from Meta Platforms, Bloomberg News reported on Wednesday, citing people familiar with the matter. The iPhone maker had been preparing a cheaper, lighter variant of its headset, code-named N100, for release in 2027, Bloomberg said. But the company told staff internally last week that it is reallocating employees from that project to accelerate work on glasses. The $3,499 Vision Pro, launched in February 2024 to heavy fanfare, has struggled to sustain momentum amid a thin slate of mainstream content and competition from cheaper devices such as Meta's Quest. Apple is working on at least two types of smart glasses, the report said. The first, dubbed N50, will pair with an iPhone and lack its own display. Apple aims to unveil the model as soon as next year, ahead of a release in 2027. The second version, with a display, is planned for 2028, but Apple is now seeking to accelerate development of the product that could challenge the Meta Ray-Ban Display, the report said. In September, Meta CEO Mark Zuckerberg showed off the company's first consumer-ready $800 smart glasses with a built-in display and a new wristband controller at Meta's Connect event. Meta also unveiled a new pair of Oakley-branded glasses called Vanguard aimed at athletes. Apple's glasses will rely heavily on voice interaction and artificial intelligence, the report said. The company declined to comment on the report when contacted by Reuters. At its annual product launch event last month, Apple introduced an upgraded line of iPhones, alongside a slimmer iPhone Air. The event, however, was light on evidence of how Apple — a laggard in the AI race — aims to close the gap with the likes of Google, which showcased the capabilities of its Gemini AI model in its latest flagship phones. (Reporting by Juby Babu in Mexico City; Editing by Tasim Zahid)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Apple has halted a planned overhaul of its Vision Pro mixed-reality headset to shift resources to smart glasses that would rival products from Meta Platforms, Bloomberg News reported on Wednesday, citing people familiar with the matter. The iPhone maker had been preparing a cheaper, lighter variant of its headset, code-named N100, for release in 2027, Bloomberg said. But the company told staff internally last week that it is reallocating employees from that project to accelerate work on glasses. The $3,499 Vision Pro, launched in February 2024 to heavy fanfare, has struggled to sustain momentum amid a thin slate of mainstream content and competition from cheaper devices such as Meta's Quest. Apple is working on at least two types of smart glasses, the report said. The first, dubbed N50, will pair with an iPhone and lack its own display. Apple aims to unveil the model as soon as next year, ahead of a release in 2027. The second version, with a display, is planned for 2028, but Apple is now seeking to accelerate development of the product that could challenge the Meta Ray-Ban Display, the report said. In September, Meta CEO Mark Zuckerberg showed off the company's first consumer-ready $800 smart glasses with a built-in display and a new wristband controller at Meta's Connect event. Meta also unveiled a new pair of Oakley-branded glasses called Vanguard aimed at athletes. Apple's glasses will rely heavily on voice interaction and artificial intelligence, the report said. The company declined to comment on the report when contacted by Reuters. At its annual product launch event last month, Apple introduced an upgraded line of iPhones, alongside a slimmer iPhone Air. The event, however, was light on evidence of how Apple — a laggard in the AI race — aims to close the gap with the likes of Google, which showcased the capabilities of its Gemini AI model in its latest flagship phones. (Reporting by Juby Babu in Mexico City; Editing by Tasim Zahid)

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(Reuters) -Dating app Grindr on Wednesday named John North as its finance chief, replacing Vanna Krantz. North stepped down as CEO of U.S. recreational vehicles retailer Lazydays Holdings last year. Krantz, in July, had said she would step down once a successor is named. She was Grindr's CFO for three years, during which she oversaw its transition to a publicly listed company in 2022. North, who has over 20 years of experience, is a board member of protective films and coatings provider Xpel and was previously the CFO of Copart, an online vehicle auctioneer. (Reporting by Juby Babu in Mexico City; Editing by Sahal Muhammed)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Apple has halted a planned overhaul of its Vision Pro headset to divert resources toward developing smart glasses that can rival products from Meta Platforms, Bloomberg News reported on Wednesday, citing people with knowledge of the matter. (Reporting by Juby Babu in Mexico City; Editing by Tasim Zahid)

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By Milana Vinn and Elvira Pollina New York (Reuters) -Yahoo is in advanced talks to sell AOL to Italian technology company Bending Spoons for about $1.4 billion, four sources familiar with the matter said, as the Apollo Global Management-backed firm sheds one of the most recognizable names of the early internet era. The Milan-based app developer is in advanced talks to purchase the legacy media brand, the sources said. But they cautioned that a final agreement has not been signed and talks could still fall apart. The sources requested anonymity to discuss confidential negotiations. Yahoo is owned by private equity firm Apollo Global Management, which acquired a 90% stake in the company from Verizon in 2021 in a $5 billion deal. Bending Spoons and Apollo declined to comment. Yahoo did not respond to Reuters' request for comment. A deal would mark a fresh chapter for the one-time giant of the internet age, known for its email service and "You've Got Mail" notification. AOL was at the centre of the biggest merger in history at the time when it combined with Time Warner in 2000 but the mega-deal resulted in regulatory probes and writedowns.   Bending Spoons has emerged as one of Europe's most prominent technology firms, with a strategy of purchasing struggling tech companies and revamping them. In February 2024, the company completed a funding round that valued it at $2.55 billion, making it a rare "unicorn" in Italy's tech landscape. A unicorn is a private company with a valuation of $1 billion or more. The deal would add AOL's vast user base to Bending Spoons' portfolio of mobile applications. AOL generates revenue from advertising and through its subscription services, including LifeLock identity theft protection, LastPass password management, and McAfee Multi Access malware protection. More recently, AOL's website traffic has grown 20% year-over-year among the users aged 25 and 54, outpacing the growth in the category of users aged 55-plus, a source familiar with AOL's performance said. The growth was driven by the introduction of multiple new content categories to AOL.com, including Health, Fitness, Animals, Science & Tech, Home & Garden, Lighter Side, True Crime, Local, amongst others, the source said. Bending Spoons, whose products count 300 million monthly users, has done several acquisitions recently, including file-sharing service WeTransfer. Last month it agreed a deal to take private video platform company Vimeo for $1.38 billion, its largest acquisition to date. Bankers see the firm as a candidate for an initial public offering (IPO) in the U.S. Chief Executive Officer Luca Ferrari, who co-founded Bending Spoons in 2013, told Reuters last year that there were no firm plans for an IPO but that the firm was working to be ready for it, and looking beyond Europe.  (Reporting by Milana Vinn in New York and Elvira Pollina in Milan. Additional reporting by Echo Wang. Editing by Anousha Sakoui and Alistair Bell)

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