Amazon earnings: What to expect amid a record-breaking tech boom February 1, 2021 Amazon enjoyed a stellar 2020, so all eyes will be on the ecommerce giant tomorrow night as it reports earnings for the final quarter of the year. Apple last week kicked off tech earnings season with bumper revenue of $111.4 (£81.5bn) — its best ever quarter, while Facebook also beat expectations. Amazon is also expected [...]
The likelihood of a bubble forming in financial markets February 1, 2021 Concerns are mounting as to whether financial markets may have entered bubble territory over the past few weeks. Some analysts are warning that instances of excessive behaviour have become apparent and more frequent. The usual key ingredients to form a bubble in financial markets include cheap credit or easy money and an enticing narrative, with [...]
EU watchdog wants Apple to pay €13bn in back taxes after all February 1, 2021 EU competition enforcers are filing to overturn a verdict which they claim was a legal mistake when it abandoned an order for Apple to pay €13bn (£11.46bn) in Irish back taxes. The decision forms part of the European Commission’s clampdown on ‘aggressive’ tax planning by multinationals. The Commission said in 2016 that two Irish tax [...]
This morning: Silver receives Gamestop treatment on Reddit February 1, 2021 Silver shines this morning as the metal is experiencing a rise in demand thanks to postings on Reddit, targeted in a similar fashion as Gamestop last week. What silver is going through this morning is the same rude awakening financial markets received last week when a swarm of retail investors, who were chatting with each [...]
Digital 9 Infrastructure set for £400m London listing February 1, 2021 Digital 9 Infrastructure, an investment trust, today announced that it was launching a £400m London initial public offering (IPO). The trust, which is newly established, will invest in a range of digital infrastructure assets, including subsea fibre, data centres, terrestrial fibre, tower infrastructure and small cell networks. It will be externally managed by Triple Point [...]
Screenshot: How Reddit shone a light on the madness of markets January 29, 2021 This week **Media Moment of the Week: Das ist Numberwang! **How Redditors beat the market at its own game **Do influencers need a rebrand? Media Moment of the Week: Das ist Numberwang! This week’s media moment is one that journalists the world over would probably rather forget but, being the intrepid media reporter that I [...]
Tech training top of the agenda for UK businesses January 28, 2021 UK businesses are prioritising digital transformation amid the pandemic with tech training coming top of the agenda. The pandemic has seen a rapid uptake in digital adoption as consumers are forced to shop online and businesses are being forced to adapt. An overwhelming majority of large firms have said the pandemic has prompted them to [...]
Competition watchdog opens probe into Facebook’s Giphy takeover January 28, 2021 The UK competition watchdog has launched a formal investigation into Facebook’s takeover of popular gif search engine Giphy. Facebook last year announced it planned to merge the gif-maker with Instagram in a deal worth a reported $400m (£321m). The Competition and Markets Authority (CMA) served an initial enforcement order in June, forcing the social media [...]
Easyjet revenue collapses 90 per cent amid newest restrictions January 28, 2021 Easyjet today saw total revenue shrink nearly 90 per cent for the first quarter as the coronavirus pandemic showed no signs of abating. The budget carrier started the new financial year as it finished the last one, with revenue slumping to a mere £165m for the three month period. The plunge was announced a day [...]
Apple earns $100bn in single quarter January 27, 2021 Silicon valley giant Apple has earned more than $100bn in its first quarter of 2021, making it one of just a handful of firms to ever have done so. Apple’s revenue for the quarter ended December 26 rose 21 per cent to $111.44 billion. Earnings per share rose to $1.68 from $1.25. Analysts had expected [...]