China's Alibaba Group Holding Ltd beat estimates for third-quarter revenue on a pandemic-driven jump in e-commerce, but its shares dropped amid regulatory heat for founder Jack Ma's business empire.
By Reuters Staff
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FILE PHOTO: Telecom Italia new logo is seen at the headquarter in Rozzano neighbourhood of Milan, Italy, May 25, 2016. REUTERS/Stefano Rellandini/File Photo
MILAN (Reuters) - Former Google executive Carlo d’Asaro Biondo has been appointed as Chief executive officer of Telecom Italia’s (TIM) newly-created cloud unit Noovle, Italy’s biggest phone group said on Monday.
The creation of the new company is part of the former phone monopoly’s strategy to boost and diversify its revenues, providing services to businesses and state-controlled offices looking to improve their digital reach.
D’Asaro Biondo, who has been Google’s president for EMEA partnerships, joined the former phone monopoly last year after TIM struck a deal with the tech giant to expand its cloud business in the country.
Breakingviews
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LONDON/NEW YORK/HONG KONG (Reuters Breakingviews) - Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
A scale model of an Airbus OneWeb satellite and its solar panel are pictured as Airbus announces annual results in Blagnac, near Toulouse, France February 14, 2019. REUTERS/Regis Duvignau
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