Amazon smashes profit predictions on soaring cloud services demand April 26, 2019 E-commerce giant Amazon reported a significant jump in profit tonight to soar past average analyst expectations, in addition to matching estimates on revenue. The company’s net income for the first three months of 2019 more than doubled year-on-year to reach a record $3.6bn (£2.8bn), or $7.09 per share, compared to the average estimate of $4.72. [...]
Microsoft’s valuation passes $1 trillion as competition with Apple and Amazon heats up April 25, 2019 Microsoft’s valuation briefly exceeded $1 trillion (£776bn) for the first time yesterday after the firm posted strong revenue and profit growth in its quarterly results. Shares in the US tech behemoth rose as high as $130.87 in late trading, taking its market capitalisation past rivals Apple and Amazon and beyond the coveted $1 trillion mark. [...]
Comcast beats profit estimates but streaming rivals eat into revenue April 25, 2019 US media giant Comcast has beaten Wall Street estimates to post strong first-quarter profit, but fell short on revenue. The figures Comcast posted a 17.9 per cent increase in revenues to $26.9bn (£21bn). Net profit rose 14 per cent to $3.6bn. Adjusted earnings before interest, tax, depreciation and amortisation increased 18.1 per cent to $8.6bn. [...]
Competition watchdog kills Sainsbury’s £7.3bn Asda merger: What went wrong? April 25, 2019 Almost a year to the day since Sainsbury’s first revealed that it was in merger talks with Asda, it has all come crashing down. In late April 2018 the two retail giants were losing market share to German discounters Aldi and Lidl, and the threat of Amazon moving into the grocery sector was very real. [...]
French supermarket Casino expands Amazon delivery deal April 23, 2019 French supermarket group Casino is set to further its partnership with Amazon, following the success of a delivery deal with its Monoprix brand. Read more: French supermarket Carrefour denies making an offer for rival The retailer will roll out Amazon's high speed delivery service, Prime Now, in cities outside of Paris, making its Monoprix brand products [...]
Amazon to close its online store in China after failing to gain a foothold April 18, 2019 Amazon is set to close its online in store in China after failing to gain a real foothold in the country where JD.com and Alibaba reign supreme. The e-commerce giant will shut its operations in China down from 18 July, it announced today. Read more: Unilever shares rise on first quarter sales growth Rivals JD.com [...]
Amazon hit with thousands of fake five-star reviews, research finds April 16, 2019 Thousands of suspicious and unverified reviews have cropped up on Amazon for five-star rated tech products from unheard of brands. The reviews were often posted on the same day or in the same short period of time, according to consumer magazine Which, with identical reviews left for the same product on Amazon and in some [...]
Microsoft Outlook and Hotmail accounts accessed by hackers April 15, 2019 Microsoft has admitted that hackers had access to some of its Outlook, Hotmail and MSN email accounts for at least three months. The software company would not say how many accounts were compromised in the breach that lasted from 1 January to 28 March. Hackers stole login credentials for a Microsoft customer support agent and [...]
What do we know about Disney’s streaming service? April 12, 2019 Disney is set to take on the might of Netflix and Amazon with a new streaming service – Disney Plus – which it announced last night at its California headquarters in Burbank. Here are six things we know about the new offering from the mouse-branded entertainment behemoth. 1) It launches in North America in November [...]
Tesco turnaround marks the milestone for Drastic Dave April 10, 2019 In the never-ending debate about executive pay, examples of failure are cited more frequently than cases of good value for money. Recently the likes of WPP, Persimmon and Ted Baker have all demonstrated how the actions of the top boss can dent the fortunes of a company and frustrate shareholders. But despairing investors now have [...]