Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.

 

Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.

TECHNOLOGY TOP STORIES

Samsung acquires Corephotonics, developers of Zoom technology in mobiles

Samsung-acquires-Corephotonics-GBO

The electronics giant has reportedly acquired the Israeli company that developed Oppo’s 5x lossless dual-camera zoom system

Recently, it was in the news for developing Oppo’s 10x hybrid optical zoom camera. Samsung already was one of the main investors in the Israeli tech company.

Calcalist has claimed that the acquisition has gone through — with the reported value of the deal signed on Monday being $155mn.

Thus far, both Samsung and Corephotonics  have reportedly declined to respond to the news of acquisition.

The company made headlines in 2017, when it claimed that Apple had copied its dual camera technology on the iPhone. Interestingly, the biggest investors in the company include Samsung, MediaTek and Foxconn—and electronics manufacturing company known for producing Apple’s iPhone models.

It’s yet to be seen how Samsung’s acquisition may affect the company’s collaborations with other phone makers. Rest assured, if the report is accurate, Samsung may end up with a massive zoom advantage over the competition in its camera technology.

Corephotonics was founded in 2012 by electro-optics professor at Tel Aviv University David Mendlovic, imaging expert Gal Shabtay, and entrepreneur Eran Kali.

Leave a Comment