Fed keeps rates and bond buying unchanged but notes “strengthened” recovery April 28, 2021 The Federal Reserve has left interest rates and bond buying unchanged but is encouraged by a “strengthened economy”. “Amid progress on vaccinations and strong policy support, indicators of economic activity and employment have strengthened,” the central bank said. The result of the FOMC result is as analysts expected but the vaccine rollout and additional stimulus [...]
Microsoft calls on users to pick new default font for Office April 28, 2021 Microsoft is changing its Office font for the first time in 15 years and is calling on users to pick the new default. There are more than 700 options in Word but Microsoft has reportedly commissioned five new customs for Office as it moves away from Calibri. Users will be given the options to choose [...]
HMRC set to crack down on tax evaders’ crypto assets April 28, 2021 The recent surge in interest and value in cryptocurrencies is likely to lead to increased scrutiny on its links to organised crime, according to a top accountancy firm. The organised crime ecosystem is becoming increasingly digital and now there are concerns it is being used by tax evaders. HMRC is set to demand data on [...]
Britain’s top bosses call for ‘national prosperity’ plan to boost growth post-pandemic April 28, 2021 Some of the UK’s top business leaders have called on the Government to set out a plan to boost growth as the country deals with the devastating impact of the pandemic. The Covid Recovery Commission, a group set up by last summer which includes top executives from Tesco, Shell and Heathrow Airport , has set [...]
Travel restrictions pull Visa quarterly profit lower April 27, 2021 Visa reported a small fall in its quarterly profit as lockdown restrictions continue to have an impact on the world’s travel and retail industries. The payments company reported net income slipped two per cent in the second quarter to $3bn, equivalent to $1.38 per Class A Share. Analysts had expected a profit of $1.27 per [...]
Microsoft sees continued demand for cloud services April 27, 2021 It was another stellar quarter for Microsoft as it continued to benefit from the pandemic-induced shift to the cloud. The tech heavyweight beat Wall Street expectations for quarterly revenue, rising 19 per cent to $41.7bn in the three months to March just ahead of analysts’ estimates of $41.03bn. Last quarter Microsoft reported a 17 per [...]
Google owner Alphabet beats revenue expectations as ad spend recovers April 27, 2021 Google’s parent company Alphabet beat Wall Street estimates for the first quarter amidst a recovery in digital ad spend. Revenue rose to $55.31bn in the first quarter from $41.16bn a year earlier, beating analyst estimates of $51.7bn according to Refinitiv data. Alphabet shares rose about five per cent to $2,405 in after-hours trading. Digital advertising [...]
Softbank leads $525m round in British drug developer Exscientia April 27, 2021 British pharmaceutical company Exscientia has received funding from Softbank Vision Fund just a month after closing its last investment round. Exscientia uses artificial intelligence to discover new drug molecules and has now designed two drugs that are in Phase 1 of clinical trials. The Oxford-based company today announced it had completed a $225m Series D [...]
City of London plans to convert empty office space into housing April 27, 2021 Empty office space in the City will be converted into housing as part of a wider post-Covid revamp of the Square Mile. The City of London Corporation has outlined plans to convert some of the vacant office space into at least 1,500 new units by 2030. It comes as part of an overhaul of the [...]
Elon Musk’s Tesla beats expectations on record deliveries April 26, 2021 Tesla has reported a record quarterly profit, beating Wall Street estimates after a huge rise in deliveries in the three months to March. Total revenue soared 74 per cent year-on-year to $10.39bn in the first quarter, generating a $438m net profit. Tesla said this was primarily achieved through “substantial growth” in vehicle deliveries. The auto [...]
