USA

Starbucks China and Sequoia Capital launch technology investment plan
20May By Desk TeamNo Comments
USA

Starbucks China and Sequoia Capital launch technology investment plan

Starbucks is to partner with investment company Sequoia Capital to invest in new technologies which will accelerate the company’s digital innovation in Mainland China.  The two companies plan to focus on next-generation food and retail technology companies whose products will help Starbucks grow the coffee and retail industry in China, one of its fastest-growing markets globally. An early focus will be opportunities to embed digital technologies across Starbucks’ retail business, making the most of data-driven analytics, modelling and decision making.  “These may entail adopting creative solutions to enhance front- and back-of-house operations, such as the use of machine learning and predictive intelligence tools in managing Starbucks growing retail operations in China, or the optimisation...
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Alibaba will invest $28 billion in the cloud as it challenges Microsoft and Amazon head-on
20May By Desk TeamNo Comments
China, USA

Alibaba will invest $28 billion in the cloud as it challenges Microsoft and Amazon head-on

Alibaba Group Holding Ltd. will invest 200 billion yuan ($28 billion) on cloud infrastructure such as datacenters over the next three years, a major effort to extend one of its fastest-growing businesses to more countries. That huge outlay -- equivalent to about half the revenue the entire company generated in fiscal 2019 -- underscores the importance of a division Alibaba relies on to spearhead its international expansion. The Chinese e-commerce giant now plans to build more datacenters to complement an existing network covering 21 regions globally and support the development of technologies in areas such as AI-inference chips, it said in a statement. Cloud computing has become one of Alibaba’s fastest-growing initiatives beyond the traditional e-commerce sphere. The division’s revenue ro...
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D Chinese tech giant Baidu to invest $70.3 million into the live-streaming sector
19May By Desk TeamNo Comments
Singapore, USA

D Chinese tech giant Baidu to invest $70.3 million into the live-streaming sector

Chinese tech giant Baidu is going to invest $70.3 million into the live-streaming sector in a bid to take on rivals Douyin, China’s version of Tiktok, and Kuaishou in that space. The move comes in the wake of the three players jostle for dominance amidst a series of tit-for-tat lawsuits, and as Baidu on Monday announced better-than-expected revenue for the March quarter, causing its U.S.-listed shares to rise 8% in extended trading.Baidu’s new investment will be spent on growing its live-streaming user base and attracting high quality content creators, according to Baidu’s vice president Shen Dou. Baidu, best known for operating a Google-like search engine, plans to boost its short video operations by sending traffic from the rest of its ecosystem to creators’ content.Haokan content will b...
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Coronavirus: Musk defies orders and reopens Tesla’s California plant
12May By Online DeskNo Comments
Market, USA

Coronavirus: Musk defies orders and reopens Tesla’s California plant

Tesla has reopened its only US electric car plant in California, despite local orders against manufacturing. On Monday, the company's chief executive Elon Musk tweeted that production had restarted and he would be "on the line with everyone else". US states and local governments are trying to determine the best way to open up after lockdown. Mr Musk previously vowed to move the firm's headquarters out of California if the plant was not allowed to reopen. He has been vocal about the lockdown orders in recent weeks. Mr Musk recently celebrated plans to relax restrictions across the country, writing on Twitter: "FREE AMERICA NOW". He has also dismissed as "dumb" concerns about the coronavirus. While the state has eased restrictions to allow manufacturing, Alameda County, where the Fremo...
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