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Reliance Industries says to invest $39 billion in ‘Digital India’ program

MUMBAI (Reuters) – India’s Reliance Industries Ltd plans to invest about 2.5 trillion rupees ($39.3 billion) in digital initiatives, Chairman Mukesh Amabani said on Wednesday. Source
Posted On 01 Jul 2015

Ex-LinkedIn exec Deep Nishar joins SoftBank as a managing director

TOKYO (Reuters) – SoftBank Group Corp said on Wednesday it had hired former LinkedIn Corp executive Deep Nishar as managing director of investments as the Japanese telecoms conglomerate targets growth overseas to counter a shrinking domestic market. Source
Posted On 01 Jul 2015

India’s Ratan Tata invests in taxi-hailing company Ola

(Reuters) – Ratan Tata, chairman emeritus of the holding company of India’s Tata conglomerate, has bought a stake in online taxi-hailing firm Ola, the company said on Wednesday. Source
Posted On 01 Jul 2015

Global Fashion raises 150 million euros, valuing it at 3.1 billion euros

FRANKFURT (Reuters) – Global Fashion Group, the e-commerce firm backed by Kinnevik and Rocket Internet, has raised 150 million euros ($166.52 million) in funding, valuing the possible stock market flotation candidate at 3.1 billion euros ($3.45 billion). Source
Posted On 01 Jul 2015

Austrian student’s privacy battle against Facebook suffers setback

VIENNA (Reuters) – An Austrian student’s legal battle against Facebook, accusing it of helping the U.S. security service collect personal data, suffered a setback after a Vienna court rejected his case on procedural grounds, both sides said on Wednesday. Source
Posted On 01 Jul 2015

Two Uber executives to go on trial in France on Sept. 30

PARIS (Reuters) – Two executives from California-based Uber will face trial in France on Sept. 30, the Paris public prosecutor said on Tuesday, part of a French crackdown on what the government calls an illegal taxi service. Source
Posted On 01 Jul 2015

YouTube wins German court case over artists’ fees

MUNICH, Germany (Reuters) – Google won a legal victory on Tuesday over German performing rights organization Gema, which had sought to make the company’s video-sharing service YouTube pay each time users watched music videos by artists it represents. Source
Posted On 01 Jul 2015

EU strikes initial deal to scrap roaming fees in 2017

BRUSSELS (Reuters) – The European Union reached a preliminary deal on Tuesday to abolish mobile roaming charges across the 28-country bloc by June 2017 and to require telecom operators to treat all Internet traffic equally. Source
Posted On 01 Jul 2015

Mexico gives competitors access to Telmex phone networks

MEXICO CITY (Reuters) – Mexico’s telecoms regulator said on Tuesday that it will open access to the “last mile” of Telmex telephone network to rivals, in a decision that aims to increase competition in a sector dominated by billionaire Carlos Slim. Source
Posted On 01 Jul 2015

Fintech explosion puts banks in digital firing line

FRANKFURT (Reuters) – The world’s top banks and insurers are seeing their business models challenged by “fintech” start-ups, which are reshaping what consumers and businesses expect from financial services, industry insiders and experts say. Source
Posted On 01 Jul 2015