Big tech rule book could be agreed as soon as April as EU clamps down on Google and Apple TECH RULE BOOK Landmark EU rules aimed at curbing the power of tech giants could be agreed between lawmakers and EU countries as soon as April. Although the rules have faced some obstacles, lawmaker Andreas Schwab told Reuters that he is optimistic that an agreement could be reached in record time for a key piece of legislation. Known [...]
EU to probe public sector cloud services following pandemic boom CLOUD BOOM European privacy watchdog said today that it will launch joint investigations with 22 national regulators into the use of cloud-based services by the public sector to check if they comply with its privacy safeguards following the digital transformation pandemic boom.
Champagne toasts record year thanks to post-pandemic buzz and US sparkle CHAMPAGNE Champagne sales reached an all-time high last year, thanks to the post-pandemic boom and a United States surge. While French producers already said last year they expected a sales record, they now confirmed 2021 sales hit $5.7bn (£4.2bn), 14 per cent above the pre-pandemic high. Exports reached 180 million 0.75 litre bottles, up 37 per [...]
Thomson Reuters struggles to keep up with itself with profit down from 2020 February 8, 2022 Thomson Reuters missed fourth-quarter earnings forecasts today as the news and data provider boosted investments in what it said would help deliver stronger-than-expected revenue growth this year and next. The parent company of Reuters News said fourth-quarter operating profit fell 73 per cent year on year to $257m (£190m), and adjusted earnings per share, which [...]
Snap shares skyrocket 30 per cent as it records user boom February 3, 2022 Snap reported better-than-expected fourth quarter revenue and user growth today, and provided a first quarter outlook that surpassed analyst estimates, sending its shares up 30 per cent in trading after the bell. The results indicate Snap has avoided additional damage from Apple’s privacy changes, which were introduced last year and allow users to prevent apps [...]
Pinterest’s active users drop as pandemic boom wanes February 3, 2022 Pinterest monthly active users declined six per cent during the fourth quarter to the lowest since June 2020, signalling that a pandemic-driven surge in demand was cooling off as easing restrictions encourage people to step out more. The image sharing platform’s monthly active users (MAUs) – a key metric that shows engagement levels on the [...]
Amazon’s sales forecast misses estimates as it hikes Prime membership in US February 3, 2022 Amazon.com said it raising the price of its Prime subscriptions, as it looks to offset higher shipping costs and wages even after beating profit expectations for the holiday quarter. Shares rose 17 per cent in after-hours trade, after dropping nearly eight per cent before the market’s close as part of a broader technology stock sell-off. [...]
Meta shares plummet as Wall Street tech bubble begins to burst February 3, 2022 Meta, the parent company of social media platforms Facebook and Instagram, said this evening it was expecting current-quarter revenue below Wall Street expectations, as Apple privacy features keeps businesses from opting to advertise on social media sites.
General Motors drives home a confident outlook for 2022 February 1, 2022 General Motors announced yesterday evening that it expected a 2022 operating profit of $13bn (£9.6bn) to $15bn (£11bn), citing an improving outlook for semiconductor chips used in its vehicles. This is good news for investors, who have been keeping a watchful eye on shortages and supply issues when analysing car maker stocks. Fourth-quarter net income [...]
Nirvana urges US judges to dismiss ‘naked baby’ lawsuit for good February 1, 2022 Nirvana has urged a US judge to dismiss the ‘naked baby’ case for good as the lawsuit lingers on.
