3rdPartyFeeds

The long party in tech stocks is not over yet

As far as Wall Street is concerned, Big Tech is most definitely back. Investors who decided in 2022 that the long party in tech stocks was over have come around with remarkable speed this year to an appreciation of the more resilient qualities of the sector’s strongest companies. There is a touch of the glass-half-full about this: the short-term picture has not changed and the five biggest consumer technology and cloud computing companies — Alphabet, Amazon, Apple, Meta and Microsoft — will struggle to report much growth at all this year. Read More...

Reuters

Exclusive-China plans $500 million subsea internet cable to rival U.S.-backed project

Chinese state-owned telecom firms are developing a $500 million undersea fiber-optic internet cable network that would link Asia, the Middle East and Europe to rival a similar U.S.-backed project, four people involved in the deal told Reuters. China’s three main carriers – China Telecommunications Corporation (China Telecom), China Mobile Limited and China United Network Communications Group Co Ltd(China Unicom) – are mapping out one of the world’s most advanced and far-reaching subsea cable networks, according to the four people, who have direct knowledge of the plan. Known as EMA (Europe-Middle East-Asia), the proposed cable would link Hong Kong to China’s island province of Hainan, before snaking its way to Singapore, Pakistan, Saudi Arabia, Egypt and France, the four people said.

Read More