Good morning! Here’s the tech news you need to know to start your week.
1. UK members-only luxury travel site Secret Escapes has raised $US60 million. TechCrunch reports that investors include Google Ventures, Index Ventures, and Octopus Investments.
2. A Chinese venture capital firm has launched a $US5 billion fund targeting Western tech companies. The South China Morning Post reports that GSR Capital will “target international investment opportunities in industries that include clean energy, bio-pharmaceutics and life sciences, bulk commodity, traditional and internet finance, and wireless communication.”
3. LinkedIn has reintroduced a feature that lets users download contact details instantly. The professional social network recently removed it in favour of a more comprehensive download tool that took 72 hours, but the change was met with a huge outcry.
4. People are clearly worried that Apple’s ‘golden goose’ is in trouble. Despite beating expectations for revenue this quarter, the Cupertino company’s stock tanked globally — because there are concerns about the number of iPhones sold.
5. Wal-Mart is losing the war with Amazon. The online giant now has a bigger market cap than the bricks-and-mortar retail chain, following a strong Q2 earnings report.
6. Researchers have developed a high-speed anonymising network called HORNET designed to keep users’ online activities secret. It claims to be significantly faster than the Tor network, but the Daily Dot cautions that it hasn’t yet been subjected to peer review.
7. Fantasy sports company DraftKings has raised $US300 million. The funding is led by 21st Century Fox’s Fox Sports unit, according to Re/code, and values the company at $US1.2 billion.
8. Twitter is deleting stolen jokes on copyright grounds. The social network will remove unoriginal tweets if the original poster complains.
9. Fiat Chrysler has recalled 1.4 million vehicles after hackers were able to remotely shut off a jeep in the middle of traffic. The vulnerabilities were first highlighted in a report by Wired.
10. The EU has cleared Nokia to acquire Alcatel-Lucent. On Friday, the European Commission gave the go-ahead for the Finnish tech company to acquire its French rival.