Google: Parent firm Alphabet announces 12,000 sackings worldwide as CEO Sundar Pichai takes ‘full responsibility’ January 20, 2023 Google’s parent company Alphabet has become the latest Silicon Valley powerhouse to announce a raft of redundancies across its global workforce. The tech giant said today that it would cut six per cent of its global workforce, around 12,000 people worldwide. “I take full responsibility for the decisions that led us here,” chief executive Sundar [...]
Google slows down hiring for rest of 2022 amidst economic uncertainty July 13, 2022 Google will slow hiring for the rest of the year as economic gloom sets in. Sundar Pichai, CEO of Google parent company Alphabet, informed employees in an email yesterday, according to CNBC. “The uncertain global economic outlook has been top of mind,” he said. “Like all companies, we’re not immune to economic headwinds.” The company [...]
Tech stocks in a valley February 4, 2022 Just when Silicon Valley thought things couldn’t get any worse, they did. Meta tanked over 25 per cent on Wall Street yesterday, losing around $200bn (£147bn) in value, dragging the tech-heavy Nasdaq down along with it.
Google’s owner Alphabet smashes expectations for revenue and profit October 26, 2021 Google’s owner Alphabet smashed expectations in its third quarter results, chalking up its third straight quarter of record profit and $65.5bn in revenues against Wall Street estimates of $63.3bn. The tech giant banked a $18.9bn net profit – or earnings per share of $27.99, up from $11.2bn for the same period last year. “Our consistent [...]
Google pushes back office return to January as Covid cases surge August 31, 2021 Google has pushed back on plans for a full return to the workplace and extended its voluntary return-to-office policy through to January next year, amid concerns over rising Covid cases in some locations around the world. “Beyond January 10, we will enable countries and locations to make determinations on when to end voluntary work-from-home based [...]
SoftBank ramps up exits to fund prolific Vision Fund dealmaking August 18, 2021 The Japanese investment giant sold around $14bn worth of listed stocks last quarter, marking a change in its exit-hesitant strategy in order to fund its Vision Fund’s accelerating investments in tech startups. SoftBank sold an estimated $14bn worth of listed stocks in the last quarter – almost triple that of the previous period, according to [...]
Google owner Alphabet smashes earnings estimates on digital advertising boom July 27, 2021 Google parent company Alphabet sprinted past revenue expectations for the second quarter, as the pandemic-induced surge in online shopping powered companies’ digital advertising spend. The tech giant posted revenue of $61.88bn in the three months to 30 June, up 62 per cent from the same period last year, and miles in front of Wall Street estimates [...]
OECD: Ireland snubs global tax deal July 2, 2021 Ireland refused to sign a major agreement to overhaul the global corporation tax regime on Thursday. 130 countries and jurisdictions agreed to the deal brokered by the Organisation for Economic Cooperation and Development, which paves the way for sweeping international changes. The new regime will see a global tax for 100 of the world’s largest [...]
Saturday Read: Investors are fleeing Myanmar as coup grows more deadly March 6, 2021 The world’s largest sovereign wealth fund, the Norwegian central bank, has put Japanese Kirin Holdings on a watch list for possible exclusion due to its ties to Myanmar’s military, in light of the recent coup and ongoing unrest in the country. The Japanese beverage group Kirin has a partnership and $1.7bn controlling stake in Myanmar [...]
Google owner Alphabet beats revenue estimates as cloud losses grow February 2, 2021 Google parent company Alphabet beat revenue expectations for the fourth quarter, but revealed hefty losses in its cloud computing division. The tech giant posted revenue of $56.9bn (£41.7bn) in the final three months of the year, up from $46bn in the same period last year. Alphabet said the figures were driven by strong performance from [...]