China's Alibaba to invest $1 billion in cloud computing

Chinese e-commerce giant Alibaba will invest USD 1 billion in its cloud computing arm to expand its international presence, the company said on Wednesday, as it looks outside its core business and beyond traditional markets. Chinese e-commerce giant Alibaba will invest USD 1 billion in its cloud computing arm to expand its international presence, the company said on Wednesday, as it looks outside its core business and beyond traditional markets.The Aliyun unit will use the funds in part to set up cloud computing centres in Singapore and Japan, as well as in the Middle East and Europe, Alibaba said in a statement.New York-listed Alibaba’s Tmall.com site is believed to command more than half the Chinese market for business-to- consumer transactions, while its Taobao platform holds more than 90 percent of the consumer-to-consumer market in China.

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Starbucks' shares surge after revenues spike by 18% in 3Q

Investing.com – Investing.com—Shares in Starbucks Corporation (NASDAQ:SBUX) surged more than 4.5% in after-hours trading after the Seattle-based coffee giant posted record per share earnings for the third quarter and upgraded its full-year guidance on Thursday. Bolstered by a 7% spike in comparable store sales and an 8% increase in sales among stores that have been opened for at least 13 months, Starbucks saw its revenues soar by 18% during the period to $4.88 billion. The acquisition of a division of stores in Japan, as well as the opening of nearly 1,600 new stores worldwide also contributed to the significant revenue gains

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