News That Matters

Tag: Tech

An analyst warns investors against falling for a widely-held assumption about rising tech stocks

An analyst warns investors against falling for a widely-held assumption about rising tech stocks

Finance
Come Monday, the tech-heavy Nasdaq will try to kick-off its second positive week in a row. But it's poised to do so without small cap tech and Chinese internet companies. According to veteran market watcher Nicholas Colas, much of Wall Street is mistakenly assuming that the technology sector's big surge is broad-based. "It's largely a large cap phenomenon," the DataTrek Research co-founder said Friday on CNBC's "Trading Nation." The Nasdaq is now up almost 25 percent over the past 52-weeks, while the broader S&P 500 is up 16 percent in that same p...
Indian banks, insurance cos increasingly embracing digitisation: US tech expert

Indian banks, insurance cos increasingly embracing digitisation: US tech expert

Finance
Indian banks and insurance companies are increasingly embracing digitisation in line with the government's 'Digital India' initiative, according to an American technology expert. The Indian government is giving citizens direct access and connectivity, shifting away from bureaucracy, observed Sandie Overtveld, vice president sales for Asia Pacific at Zendesk, a US-headquartered customer service software company. Traditional Indian enterprises are also going digital. Though there are some apprehensions, entrepreneurs are aware that might lose market share if direct customer-connectivity is not established through digitisation, he said. The Zendesk has built a portfolio of 2,000 Indian customers over the last two years. The government wants to engage the citizens and commercial enterprises ar...
Tech startups are reviving point-of-sale lending

Tech startups are reviving point-of-sale lending

Finance
AMERICANS shopping for a mattress online may find the selection at Casper, a New York-based mattress startup, somewhat lacking. Unlike brick-and-mortar shops, which offer dozens of models, the startup sells just three. And yet Casper’s customers are spoiled for choice at the till. Those who cannot afford to pay with a debit or credit card, or PayPal, can pay by instalments over six to 12 months. Those who make payments on time can enjoy the service free.Such “point-of-sale” loans, which have been around for decades in one form or another, are becoming increasingly popular in America. Consumers who might previously have financed big-ticket purchases such as furniture, electronics or home-improvement projects with a credit card are now opting to borrow at the checkout, ofte...
Tech firms are suddenly the corporate world’s biggest investors

Tech firms are suddenly the corporate world’s biggest investors

Finance
A COMMON way to describe the history of the technology industry is by product cycles. The 1990s was the era of the PC; then came the internet and related services, followed by mobile; and now artificial intelligence looms. But there is a different way to think about tech: it is switching from an era of hoarding profits to one of reinvestment. Take a crude yardstick of spending: the physical footprint of the five most valuable American tech firms. A decade ago if you added up all the land they occupied, you got to an area one and a half times the size of Central Park. Now an ongoing splurge means they use ten times more space, or 600m square feet (55m square metres), roughly the size of all of Manhattan. This shift to redeploying profits is seismic.Amazon accounts for two-fifths of that spa...
WPP courts Chinese tech giants over $2.5bn deal

WPP courts Chinese tech giants over $2.5bn deal

Business
Alibaba Group and Tencent‎ Holdings, the two biggest names in China's technology industry, are in talks to buy a stake in the $ 2.5bn (£1.9bn) Chinese operations of WPP Group. Sky News can exclusively reveal that Alibaba, Tencent and China Media Capital Holdings (CMC) are in early-stage discussions about buying roughly 20% of WPP China.Sources said the negotiations, which could take several months to conclude, were expected to value the business at between $ 2bn (£1.52bn) and $ 2.5bn.Under the deal, WPP - which is hunting a successor to Sir Martin Sorrell, the 33-year company veteran ‎who stepped down in April following an investigation into his personal conduct - would pool its Chinese agency operations into a new holding company.The consortium compris...