Company news in brief
Trump slams EU over $5 billion fine on Google
US resident Donald Trump on Thursday criticized the European Union over a record US$5 billion fine EU antitrust regulators imposed on Google, saying the bloc was taking advantage of the United States.
EU officials on Wednesday also ordered Google to stop using its popular Android mobile operating system to block its rivals, adding to trade tensions between Washington and Brussels.
Trump took to Twitter over the decision: “I told you so! The European Union just slapped a Five Billion Dollar fine on one of our great companies, Google. They truly have taken advantage of the US, but not for long!”
-Nampa/Reuters
Apple Watch, FitBit could feel US tariffs
The latest round of US tariffs on US$200 billion of Chinese goods could hit the Apple Watch, health trackers, streaming music speakers and other accessories assembled in China, government rulings on tariffs show.
The rulings name Apple Inc’s watch, several Fitbit Inc activity trackers and connected speakers from Sonos Inc. While consumer technology’s biggest sellers such as mobile phones and laptops so far have faced little danger of import duties, the rulings show that gadget makers are unlikely to be spared altogether and may have to consider price hikes on products that millions of consumers use every day.
-Nampa/Reuters
Comcast concedes to Disney in bidding war for Fox assets
Comcast Corp dropped its US$66 billion bid for Twenty-First Century Fox Inc’s entertainment assets on Thursday but said it would still try to expand its international footprint by acquiring 61% of European broadcaster Sky Plc, the remainder of which is owned by Fox.
Comcast’s withdrawal is a concession to Walt Disney Co, which last month sweetened its offer for the Fox assets to US$71.3 billion, in a bid to unite two storied Hollywood studios and several television networks under one corporate umbrella.
-Nampa/Reuters
Microsoft beats Wall Street targets on cloud services revenue
Microsoft Corp on Thursday posted quarterly profit and revenue that beat analysts’ estimates, as more businesses signed up for its Azure cloud computing services and Office 365 productivity suite.
The company’s flagship Azure cloud product recorded revenue growth of 89% in the fourth quarter ended June 30. Its shares rose nearly 4% in after-hours trading.
-Nampa/Reuters
Swiss watch exports have biggest half-yearly gain since 2012
Swiss watch exports had their strongest first half in six years as demand for high-end timepieces rose in Asia and the US.
Shipments rose 11% to 10.5 billion francs (US$10.5 billion), the Federation of the Swiss Watch Industry said in a statement on Thursday. That’s also the first time they breached the 10 billion-franc mark since 2015.
The trade group forecast a smaller increase for the full year because the industry faces a more difficult comparison base in the second half. Swatch chief executive officer Nick Hayek said on Wednesday that double-digit sales growth is possible this year for the largest Swiss watchmaker.
-Fin24
US resident Donald Trump on Thursday criticized the European Union over a record US$5 billion fine EU antitrust regulators imposed on Google, saying the bloc was taking advantage of the United States.
EU officials on Wednesday also ordered Google to stop using its popular Android mobile operating system to block its rivals, adding to trade tensions between Washington and Brussels.
Trump took to Twitter over the decision: “I told you so! The European Union just slapped a Five Billion Dollar fine on one of our great companies, Google. They truly have taken advantage of the US, but not for long!”
-Nampa/Reuters
Apple Watch, FitBit could feel US tariffs
The latest round of US tariffs on US$200 billion of Chinese goods could hit the Apple Watch, health trackers, streaming music speakers and other accessories assembled in China, government rulings on tariffs show.
The rulings name Apple Inc’s watch, several Fitbit Inc activity trackers and connected speakers from Sonos Inc. While consumer technology’s biggest sellers such as mobile phones and laptops so far have faced little danger of import duties, the rulings show that gadget makers are unlikely to be spared altogether and may have to consider price hikes on products that millions of consumers use every day.
-Nampa/Reuters
Comcast concedes to Disney in bidding war for Fox assets
Comcast Corp dropped its US$66 billion bid for Twenty-First Century Fox Inc’s entertainment assets on Thursday but said it would still try to expand its international footprint by acquiring 61% of European broadcaster Sky Plc, the remainder of which is owned by Fox.
Comcast’s withdrawal is a concession to Walt Disney Co, which last month sweetened its offer for the Fox assets to US$71.3 billion, in a bid to unite two storied Hollywood studios and several television networks under one corporate umbrella.
-Nampa/Reuters
Microsoft beats Wall Street targets on cloud services revenue
Microsoft Corp on Thursday posted quarterly profit and revenue that beat analysts’ estimates, as more businesses signed up for its Azure cloud computing services and Office 365 productivity suite.
The company’s flagship Azure cloud product recorded revenue growth of 89% in the fourth quarter ended June 30. Its shares rose nearly 4% in after-hours trading.
-Nampa/Reuters
Swiss watch exports have biggest half-yearly gain since 2012
Swiss watch exports had their strongest first half in six years as demand for high-end timepieces rose in Asia and the US.
Shipments rose 11% to 10.5 billion francs (US$10.5 billion), the Federation of the Swiss Watch Industry said in a statement on Thursday. That’s also the first time they breached the 10 billion-franc mark since 2015.
The trade group forecast a smaller increase for the full year because the industry faces a more difficult comparison base in the second half. Swatch chief executive officer Nick Hayek said on Wednesday that double-digit sales growth is possible this year for the largest Swiss watchmaker.
-Fin24
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