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Google parent Alphabet Inc , Microsoft Corp and Amazon.com Inc made headway in the latest quarter in the areas that will be their main engines of growth for years to come, driving up shares across the tech sector on Friday. For Alphabet, search traffic on mobiles surpassed desktop traffic worldwide for the first time, while Amazon was able to boost margins, an area of concern, as its cloud business boomed. Microsoft's growing emphasis on cloud computing under Chief Executive Satya Nadella also put the company on track successfully transition away from its slowing business that relies on sales of personal computers.

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Europe's antitrust chief dismissed on Friday accusations of anti-U.S. bias over her decision to go after Google for abusing its Internet search dominance and Apple over an Irish tax deal, saying such talk was a fallacy. European Competition Commissioner Margrethe Vestager's robust defense of her actions came after she was criticized in the U.S. media for a spate of cases opened over the past year against U.S. giants such as Google, Apple, Amazon and Starbucks. “Some claim that our cases involving Internet giants such as Apple or Google are evidence of bias.

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China's Alibaba Group Holding Ltd said on Wednesday it would invest $1 billion into its Aliyun cloud computing arm to challenge Amazon.com Inc's lucrative Web Services division, opening a global front in the battle between the two e-commerce giants. With the global cloud computing market estimated by analysts to be worth about $20 billion, Alibaba said in a statement the investment would go toward setting up new Aliyun data centers in the Middle East, Singapore, Japan and Europe. Although Alibaba and Amazon have so far avoided competing directly in their core business of e-commerce outside China, Aliyun's international expansion takes aim squarely at Amazon Web Services (AWS), an increasingly central and profitable division of the Seattle-based company.

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Amazon.com Inc must face a trademark lawsuit brought by a watchmaker which says the online retailer's search results can cause confusion for potential customers, a federal appeals court ruled. The 2-1 opinion from the 9th U.S. Circuit Court of Appeals in San Francisco on Monday reversed a lower court ruling, and said high-end watchmaker Multi Time Machine Inc. is entitled to a trial on its trademark allegations. An Amazon representative could not immediately be reached for comment.