Sovereign wealth funds throw funding lifeline to tech ventures

Funds aplenty: Singapore’s two big government investors bought US$1bil (RM4bil) worth of Alibaba Group shares. Reuters FRANKFURT/SINGAPORE: A succession of funding deals by deep-pocketed sovereign wealth funds have thrown a life preserver to some of the worlds biggest private tech firms whose high valuations have come under scrutiny in the past year.
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US unveils new labels for broadband, mobile internet service

The Obama administration on Monday unveiled new labels for broadband and mobile Internet service, aimed at helping the nations web users make price and service comparisons. The labels from the US Federal Communications Commission are similar to federally required nutrition labels on nearly all US foods or information on credit card billing statements and will include disclosures of all fees and add-on charges and service speed and reliability.
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Dropbox ditches Amazon and partners with HP

WhenDropbox transferred most of its data away from Amazon Web Servicesearlier this year,itpartnered with HP Enterprise tobuild out its data centers, the two companies revealed at a conference on Tuesday according to the Wall Street Journal. HPE provided custom hardwarefor thenew data centers, which will theoretically help the cloud storage app cutcosts compared to renting space from AWS.
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Alibaba plans five-day ‘farmer’s festival’ to drive e-commerce in Chinese hinterlands over Lunar New Year

Alibaba Group, which pioneered the Singles Day retail event in China that falls on November 11, is poised to make an all-out assault on the mainlands largely untapped rural e-commerce market, with the launch of a five-day Lunar New Year online shopping festival from Sunday. The worlds largest e-commerce services provider has mobilised affiliate Cainiao Logistics to bolster its last-mile delivery network in more than 270 counties and about 13,000 villages to support the new festival, an Alibaba spokeswoman said.
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