- Facebook Inc (NASDAQ:FB) and Amazon.com Inc (NASDAQ:AMZN) sought the Federal Communications Commission’s permission to operate a new undersea data cable between the Philippines and California after China Mobile’s exit, Reuters reports.
- The companies plan to start commercial operations by late 2022. The new data connection will ramp up capacity on the demanding routes.
- The new cable will help support Facebook applications and provide Amazon and its affiliates with the capacity to support Amazon’s cloud services offerings and connect its data centers.
- Previously Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google announced its open subsea cable Firmina, which will run from the East Coast of the U.S. to Las Toninas, Argentina.
- Techradar previously reported that Google was building two other undersea internet cable systems to boost network capacity between the Middle East, southern Europe, and Asia.
- Price Action: FB shares traded lower by 0.02% at $362.73, and AMZN shares traded lower by 0.45% at $3,288.59 on the last check Friday.
Envestnet Shares Spike To Session High, Up 4%; ‘Envestnet sale process down to two PE bidders’ -Article From Citywire
https://citywireusa.com/registered-investment-advisor/news/envestnet-sale-process-down-to-two-pe-bidders-sources/a2384590
