business

India’s Bharti Airtel partners with Amazon to grow cloud business

FILE PHOTO: A girl checks her mobile phone as she walks past the Bharti Airtel office building in Gurugram, previously known as Gurgaon, on the outskirts of New Delhi, India April 21, 2016. REUTERS/Adnan Abidi/File Photo

NEW DELHI (Reuters) – Bharti Airtel Ltd and Amazon Web Services (AWS) will join forces to develop the Indian telecoms firm’s cloud business, allowing it to offer a wider range of products to its enterprise clients, the two companies said on Wednesday.

Airtel Cloud currently provides data centre and cloud services to companies and governments via different partnerships.

“AWS with the depth and breadth of our platform, and Airtel with its deep reach and expertise and focus, I think together we can build a set of really differentiated cloud products and go serve customers at scale in India,” Puneet Chandok, President, India and South Asia at Amazon Internet Services told a virtual news conference.

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Grab expands finance business with consumer loans services, wealth management

SINGAPORE (Reuters) – Grab, Southeast Asia’s biggest ridehailing firm, deepened its finance sector push on Tuesday by announcing that it will offer consumer loans services in Singapore and roll-out wealth management products in the fast-growing but crowded sector.

FILE PHOTO: A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore March 21, 2019. REUTERS/Anshuman Daga/File Photo

Backed by heavyweight investors including SoftBank Group Corp, Grab has already sunk its roots into financial services, food delivery and mobile payments over the last few years, even before the coronavirus pandemic hurt its mainstay ridehailing business.

It raised about $850 million in February from Mitsubishi UFJ Financial Group Inc and other investors for expanding its financial services and applied for an online Singapore banking licence together with Singapore Telecommunications Ltd.

“Consumer loans would be offered by our partner banks via a platform provided by us on the Grab

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Microsoft weighs TikTok purchase as ad business flattens out

FILE PHOTO: A Microsoft logo is seen a day after Microsoft Corp’s $26.2 billion purchase of LinkedIn Corp, in Los Angeles, California, U.S. June 14, 2016. REUTERS/Lucy Nicholson/File Photo

OAKLAND, Calif. (Reuters) – Microsoft Corp (MSFT.O) could re-energize its advertising business with a huge supply of video if it follows through on acquiring TikTok’s U.S. operations from ByteDance.

Reuters reported on Friday, citing a source familiar with the matter, that Microsoft is in exploratory deal talks as the U.S. government prepares to force China-based ByteDance to divest its video app TikTok over data security concerns.

Microsoft generates the bulk of its $143 billion in annual revenue by licensing software such as Windows and Office as well as cloud storage and computing tools through its Azure service.

The company, with advertising supported businesses including its Bing search engine, MSN news service and LinkedIn business social network, disclosed this month

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Nokia shares jump after cull of low-margin business sees earnings beat

HELSINKI/STOCKHOLM (Reuters) – Finnish telecom network equipment maker Nokia reported an unexpected rise in second-quarter underlying profit on Friday as it took on less low-margin business particularly in China, sending its shares up 13% in early trade.

FILE PHOTO: The logo of Nokia is seen before the company’s news conference in Espoo, Finland March 2, 2020. Lehtikuva/Markku Ulander via REUTERS

Cutting less-profitable service business and not winning 5G radio deals in the cut-throat Chinese market helped Nokia, where new Chief Executive Pekka Lundmark takes over this weekend, upgrade its earnings outlook for 2020.

“We do not mind trading poor revenue which doesn’t have high quality margin for better revenue,” outgoing chief executive Rajeev Suri told Reuters.

Nokia said its underlying earnings in April through June rose to 0.06 euros per share from 0.05 euros a year ago, beating the 0.03 euros consensus in a Refinitiv poll.

Nokia, which had warned

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