LONDON (Reuters) - European banks and insurers could face new rules to control their use of "big data" to target customers with products after EU watchdogs said they would investigate the area.
Big data refers to companies or other institutions using digital information on consumer behavior from a wide variety of sources, such as their own databases, to make market predictions or spot patterns. The global financial services industry is expected to spend billions of dollars in coming years to improve their analysis capabilities.
BRUSSELS/LONDON (Reuters) - Hutchison Whampoa is set to face an extensive EU investigation over its bid for Telefonica's British unit and is prepared to sell network capacity and frequencies to head off antitrust concerns, three sources said on Friday.
Hutchison's planned 10.3-billion-pound ($16 billion) acquisition of Telefonica's O2 business would make it the top mobile operator in Britain. But it comes as the European Commission has signaled a tougher line on telecoms mergers, including forcing companies to divest infrastructure network.
CARACAS (Reuters) - Venezuela's telecoms industry was deteriorating because of a scarcity of dollars, putting roaming and mobile internet services at risk, the crisis-hit country's telecoms chamber said on Tuesday.
Telecoms, like almost all sectors of socialist-run Venezuela's battered economy, depend on a strict state allocation of dollars for imports and investments.
But a tumble in oil prices and an economic crisis have restricted the availability of hard currency, causing shortages ranging from iPhones to catheters and flour, and harming investments.
DUBAI (Reuters) - Kuwait's Zain will investment more in technology firms in parallel industries and is considering buying into two digital advertising companies, the telecom operator's chief executive said on Monday.
Zain, like many Gulf telecoms operators, has suffered as subscriber growth stagnated and replacement services such as instant messaging and Internet-based calls replaced higher-margin text messages and conventional phone calls.
TEL AVIV (Reuters) - Fast-growing Israeli-U.S. cybersecurity firm ForeScout Technologies is set on listing on Wall Street, but may not be ready to launch an IPO in the next year, especially if financial markets remain volatile, its chief executive said.
Technology research firm Gartner ranks ForeScout as a market leader in the field of access control, which scans an organization remotely to detect every device connecting to its networks, while blocking out anything lacking appropriate credentials.
TORONTO (Reuters) - Canada's BlackBerry Ltd said on Friday it will buy rival mobile software provider Good Technology Corp for $425 million, to boost its ability to help corporate clients manage smartphones running on different operating systems.
The cash deal may help BlackBerry, a one-time smartphone pioneer, win new customers for its services business, a priority as it shifts focus to device management software for enterprise customers. More than half the devices running on Good's systems are Apple Inc products such as the iPhone.
COPENHAGEN (Reuters) - As it emerges from financial isolation, Iceland is trying to make a name for itself again, this time in the business of data centers -- warehouses that consume enormous amounts of energy to store the information of 3.2 billion internet users.
The island has long been associated with hi-tech trends such as the 'Eve' video game, the genome deCode project or singer Bjork's use of software as well as its links to filesharing site Pirate Bay, the Silk Road online black market and Wikileaks.
NEW YORK (Reuters) - Qualcomm Inc's President Derek Aberle, under pressure from activist hedge fund Jana Partners to improve the licensing and chip design firm's stock performance, on Thursday sounded a cautionary note about a potential breakup of the company.
Stressing that the board and management do not expect to complete a review of a possible split until the end of the year, Aberle told Reuters that Qualcomm agrees with Jana that its stock is undervalued. Shares have fallen 25 percent over the past 12 months, whereas the S&P 500 is down 2.25 percent.
SAN FRANCISCO (Reuters) - Cyber security software firm Tanium has raised $120 million from investment firms as more U.S. federal agencies rely on its technology to fend off attacks from nation-states and hackers, the company announced Wednesday.
Tanium closed the round - its third in just more than a year - at a $3.5 billion valuation. The company was valued at $1.8 billion in March, the last time it raised cash.
Tanium is the highest-valued venture-backed cyber security company worldwide, according CB Insights, which does research on venture capital.
PARIS (Reuters) - Telecoms group Altice has named long-serving sector executive Michel Combes as its chief operating officer and chairman of its Numericable-SFR mobile phone business, saying the appointment would help accelerate the group's expansion.
Combes is joining a company controlled by billionaire Patrick Drahi, who has been on a buying spree including the purchase of Vivendi's SFR, the second-biggest French mobile firm, to create Numericable-SFR. Drahi also made a bid for Bouygues Telecom, which was rejected.