News highlights for 21 June
REUTERS/Brian Snyder
Oracle’s transition to cloud pays off – profits up
(Reuters) – Oracle Corp’s quarterly profit blew past Wall Street estimates and the business software maker forecast an upbeat current-quarter earnings, indicating that the company’s transition to cloud is starting to pay off. Read more…
Amazon’s Whole Foods deal is playing catch up with China
BEIJING (Reuters) – As Amazon.com Inc looks to swallow U.S. grocery chain Whole Foods, China’s tech giants are already digesting hefty bricks-and-mortar deals, taking the lead in the battle to transform supermarket shopping with big data and better supply chains. Read more…
Imagination up for sale after battle with Apple
LONDON (Reuters) – Imagination Technologies, the British company that has lost 70 percent of its value following a dispute with its biggest customer Apple, said on Thursday it had put itself up for sale. Read more…
Foxconn still pursuing Toshiba chip business
TAIPEI (Reuters) – Taiwan’s Foxconn will continue to pursue an acquisition of Toshiba Corp’s chip business, a day after the troubled conglomerate chose a rival suitor as the preferred bidder, the head of Foxconn’s Japanese unit said. Read more…
White House aims to speed up roll out of drones, new tech
WASHINGTON (Reuters) – The White House is bringing together drone makers, wireless companies and venture capitalists on Thursday to look at ways government can help speed new technologies to the marketplace. Read more…
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