Amazon quarterly sales near $100bn amid online shopping boom October 29, 2020 Amazon has continued its bumper year of trading, posting quarterly sales of nearly $100bn (£77.4bn) as the pandemic sparked a surge in demand for online shopping. The ecommerce giant said net sales had increased 37 per cent year on year to hit $96.1bn in the three months to the end of September. Net profit hit [...]
Tech earnings: What to look out for in a bumper day of Silicon Valley results October 29, 2020 All eyes will be on Silicon Valley tonight as the tech giants prepare to unveil their earnings for the third quarter. Google owner Alphabet, Amazon, Apple, Facebook and Twitter are all set to update investors on their trading during a turbulent period dominated by the coronavirus crisis. Earnings season for the so-called FAANG companies kicked [...]
No Time To Die: James Bond studio hits back at reports of streaming release October 26, 2020 The Hollywood studio behind the James Bond film franchise has hit back at reports it is mulling a streaming launch for No Time To Die due to multiple delays to its release date. Metro-Goldwyn-Mayer (MGM) is said to have held discussions with Netflix, Amazon and Apple about a potential on-demand release for the 25th instalment [...]
Zoom and Instagram brand values jump as tech firms get Covid-19 boost October 20, 2020 Zoom, Instagram and Youtube have all swept into the rankings of the world’s 100 most valuable brands for the first time this year as the pandemic sparked a major boost for tech companies. Social media and streaming companies have enjoyed booming demand as millions of people have been forced to stay at home during the [...]
Screenshot – City A.M.’s new weekly TMT column October 16, 2020 This new weekly column brings you all the biggest stories and trends in technology, media and telecoms This week: ** Media Moment of the Week: Piers Morgan makes a confession ** The OECD, Amazon and a terrible week for tech tax ** All streamed up: What’s next for Netflix? Media Moment of the Week “I [...]
Amazon to escape UK tech tax as global crackdown falters October 14, 2020 Amazon is facing fresh scrutiny over its tax liabilities after it emerged the tech giant will not be affected by the government’s landmark digital services tax. In April ministers unveiled the new tax — which charges a two per cent levy on the revenue of internet companies — saying it would ensure companies contribute their [...]
Amazon Prime Day piles pressure on retailers ahead of Christmas trading period October 13, 2020 Amazon Prime Day has launched today, kicking off the crucial Christmas trading period and piling the pressure on retailers to keep up with online discounting. The Amazon sale, which will see the e-commerce giant slash prices on 13 and 14 October, was postponed from July, bringing it closer to the Black Friday discounting bonanza and [...]
EU regulators draw up ‘hit list’ of tech giants to share data with smaller rivals October 12, 2020 European Union regulators have reportedly drawn up a “hit list” of around 20 tech giants, potentially including Facebook, Apple, Amazon and Google, to reduce their market power. The internet platforms will be hit with tougher regulations than their smaller rivals under the new rules. They will be forced to share data with competitors and be [...]
Big tech faces break-up as Amazon, Apple, Facebook and Google accused of ‘monopoly power’ October 7, 2020 Amazon, Apple, Facebook and Google have all abused their market power and could face a potential break-up, according to a damning new report backed by US Democratic politicians. In a 449-page recommendation released yesterday, the US House Antitrust Committee set out a roadmap for cracking down on the tech giants. The report follows a 16-month [...]
Billionaires’ wealth swells to record $10.2 trillion during pandemic October 7, 2020 The world’s billionaires got a whole lot richer during the pandemic, seeing their collective fortunes rocket to a record height of $10.2 trillion (£7.9 trillion) in the height of the coronavirus crisis. The super-rich cashed in on lockdown shopping trends and a V-shaped economic rebound to boost their wealth more than a quarter from April [...]