The News Wrap: Microsoft invests in startup to wrest control of Android from Google

Microsoft is investing in a startup that is trying to weaken Google’s hold over Android, The Wall Street Journal reports.

The startup, Cyanogen, is building a version of the Android mobile-operating system without Google’s influence.

Microsoft will be a minority investor in a $70 million round of equity financing that values the startups in the hundreds of millions, people familiar with the situation say.

Western tech companies concerned about new Chinese regulations

The Chinese government has adopted new regulations requiring companies that sell computer equipment to Chinese banks to turn over secret source code, according to the New York Times.

The new regulations also require tech companies to submit to invasive audits and build “back doors” into hardware and software.

The policies are expected to be unveiled in the coming months and Beijing says they are intended to strengthen cybersecurity in critical Chinese industries.

‘Fitbit for dogs’ startup raises $15 million

Whistle, a startup which launched a ‘Fitbit for dogs’ product in 2013, has acquired competitor Tagg, and raised $15 million in a Series B round led by Nokia Growth Partners, TechCrunch reports. 

Whistle’s activity tracker is a small disc that fits into a mount that can be added to any pet collar. The latest fundraising round brings its total funding to $25 million.

Overnight

The Dow Jones Industrial Average is up 225.48 to 17,416.85. The Australian Dollar is currently trading at US78cents.

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