Alphabet, Microsoft, Amazon give Wall Street reason to cheer

Cloud computing remains the priority for all 3, as large enterprises shift to hosted data services

Reuters

(Reuters) - Google parent Alphabet Inc, Microsoft Corp and Amazon.com Inc made headway in the latest quarter in the areas that will be their main engines of growth for years to come, driving up shares across the tech sector on Friday.

Shares of all three surged in early trading, adding more than $120 billion to their combined market value - more than the gross domestic product of Morocco.

For Alphabet, search traffic on mobiles surpassed desktop traffic worldwide for the first time, while Amazon was able to boost margins, an area of concern, as its cloud business boomed.

Ericsson profit misses forecasts, hit by China slowdown

Reinforces concerns that another major growth market had passed its peak

Reuters

STOCKHOLM/FRANKFURT (Reuters) - Slowing demand for new mobile networks in China pushed third quarter sales and profit for Sweden's Ericsson below forecasts and reinforced concerns that another major growth market had passed its peak.

Like-for-like sales at Ericsson, the world's biggest maker of mobile telecoms network equipment, dropped 9 percent in the third quarter, with declines in China and Europe.

Smartphones put power to deal currencies into retail traders' hands

At one London-based broker, Mobile trading makes up about 60 percent of transactions, up 10 percent in 4 years

Reuters

LONDON (Reuters) - Once the preserve of big international banks, smartphones are putting the power to deal currencies into the hands of a new cohort of traders, who can make a fortune -- or lose their shirt -- on the bus to work.

Retail foreign exchange trading has grown rapidly in recent years, but the image has been of a lone trader in front of a computer screen. Smartphones, owned by around half the world's adults, are changing that.

China gives conditional approval to Nokia-Alcatel deal

Terms mainly relating to wireless standards and patents were imposed to protect market competition

Reuters

BEIJING/HELSINKI (Reuters) - China's Ministry of Commerce on Monday approved Nokia's proposed acquisition of French rival Alcatel-Lucent with conditions, almost completing the 15.6 billion euro ($17.6 billion) deal's antitrust process.

The ministry said the Finnish telecom network equipment maker had agreed to meet certain terms by Dec. 10, mainly relating to the use of wireless telecommunication standards and patent licensing.

Intel's data center business seen rebounding in 2016

As spending on data center systems slows, analysts see more users taking to cloud services

Reuters

(Reuters) - Intel Corp's move to cut growth forecast for its highly profitable business that makes chips used in data centers may have disappointed investors, but analysts see the unit rebounding next year as more users take to cloud services.

Expanding the business is critical to Intel's efforts to reducing its dependence on the PC market, which has been shrinking for almost four years. Buying Altera Corp earlier this year was a step in this direction.

Dell to buy EMC in $67 billion record tech deal, aims for cloud market

Seeks broader range of products to challenge Cisco, IBM and HP in cloud computing, mobility and security

Reuters

(Reuters) - Computer-maker Dell Inc struck a deal on Monday to buy data storage company EMC Corp for $67 billion, setting a record in the technology industry, as it tries to transform itself into a giant in the fast-growing market for managing and storing corporate data.

The acquisition, the year's third-largest in all sectors, highlights the frenzy of dealmaking sweeping the economy, as big or mature companies take advantage of low interest rates to buy rivals as a way to spur growth.

Cyber insurance premiums rocket after high-profile attacks

Cost trends upward for covering forensic investigations, credit monitoring, legal fees and settlements

Reuters

BOSTON (Reuters) - A rash of hacking attacks on U.S. companies over the past two years has prompted insurers to massively increase cyber premiums for some companies, leaving firms that are perceived to be a high risk scrambling for cover.

On top of rate hikes, insurers are raising deductibles and in some cases limiting the amount of coverage to $100 million, leaving many potentially exposed to big losses from hacks that can cost more than twice that.

Alcatel's strategic undersea cables unit to be swallowed by Nokia

Reverses plan to sell a majority stake in Alcatel-Lucent Submarine Networks (ASN)

Reuters

PARIS (Reuters) - Alcatel-Lucent said on Tuesday it will not sell its undersea cables unit, meaning the strategic business which underpins the global Internet will be taken over by Nokia once it completes its acquisition of the Franco-American group.

The Finnish firm unveiled in April the 15.6 billion euro ($17 billion) acquisition of network gear maker Alcatel-Lucent as they aim to better compete with market leader Ericsson and low-cost Chinese powerhouse Huawei.

Samsung Electronics struggles to find fix for smartphone woes

Profits and mobile margins are expected to contract on a sequential basis

Reuters

SEOUL (Reuters) - More than a year into the overhaul of its smartphone lineup, Samsung Electronics Co Ltd has yet to find a way to reverse a slide in market share or margins, clouding its growth outlook and fuelling investor impatience.

The world's largest handset maker is forecast on Wednesday to guide for its first annual increase in quarterly profit in two years following a dismal third quarter in 2014, but profits and mobile margins are expected to contract on a sequential basis.

EU financial watchdogs zoom in on 'big data' use

Civil liberties groups have expressed concerns over personal privacy breaches

Reuters

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.

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