Chipmaker revenue slips amid global oversupply and smartphone slowdown January 14, 2020 Global semiconductor firms suffered a decline in revenue last year as a huge oversupply in the market and a slowdown in smartphone sales took their toll. Semiconductor revenue totalled $418.3bn (£322bn) in 2019, down almost 12 per cent on the previous year, according to figures from research firm Gartner. This was driven by a huge [...]
US markets hit fresh record high on trade deal optimism January 13, 2020 US stock markets hit fresh all-time highs today as investors optimistically await the signing of “phase one” of the US-China trade deal. Indices were also boosted by expectations of a pick-up in profits for US companies as fourth-quarter earnings season kicks off. Read more: Donald Trump: US to suspend planned tariffs after reaching China trade [...]
Alphabet nears $1 trillion valuation on ad growth optimism January 13, 2020 The valuation of Google parent company Alphabet is on the verge of hitting the prestigious $1 trillion (£770bn) mark after a string of positive analyst coverage pushed up its share price. Shares in Alphabet edged to within one per cent of the $1 trillion market capitalisation on Friday as the tech firm continues a bullish [...]
US stock markets hit record highs as Middle East tensions ease January 9, 2020 US stock markets hit record highs today as easing tensions in the Middle East soothed traders’ nerves after a week of drama. The Dow Jones and the S&P 500 both rose just over 0.5 per cent, to 28,900.74 and 3,270.63 respectively. Read more: European stocks hit record high as Iran tensions subside The Nasdaq was [...]
Apple’s iPhone sales surging in China, government data shows January 9, 2020 Sales of Apple’s iPhone in China jumped over 18 per cent year-on-year in December, according to government data. China is gearing up for the Lunar New Year in late January – a major holiday for gift-giving in the country. Read more: Apple rekindles relationship with Imagination Technologies with new deal Apple shipped roughly 3.2 million [...]
BBC commercial arm ‘has more to do’ as streaming competition heats up January 9, 2020 The BBC’s commercial division must up its game if it is to fend off fierce competition from deep-pocketed streaming rivals, according to the public spending watchdog. In 2018 the broadcaster created BBC Studios by bringing together its commercial production and distribution arms into one distinct body. Read more: BBC ‘may not be sustainable’ in current [...]
S&P says UK banks will ‘ease’ rather than ‘roar’ into 2020s January 7, 2020 US credit rating agency Standard & Poor’s (S&P) has predicted UK banks will “ease” rather than “roar” into the 2020s as low interest rates, technological disruption and political risks present new challenges to the sector. British lenders had a torrid 2019, with expensive misconduct charges denting their balance sheets and Brexit uncertainty casting gloom over [...]
DEBATE: Are calculations like ‘High Pay Day’ useful to the conversation around executive salaries? January 7, 2020 Are calculations like ‘High Pay Day’ useful to the conversation around executive salaries? Charles Cotton, senior pay and reward adviser for the CIPD, the professional body for HR and people development, says YES. Most people expect Britain’s top executives to be on higher salaries than the rest of society. However, “High Pay Day” shines a [...]
‘Don’t be evil’: Google abandoned motto and lost its way, says former exec January 6, 2020 Google’s former head of international relations has hit out at the company’s human rights record and corporate culture in a blog post detailing why he left the tech giant. Ross LaJeunesse, who left Google in May last year after 11 years at the firm, claimed that “standing up for for women, for the LGBTQ community, [...]
Why more and more fund managers are turning to shareholder activism January 6, 2020 According to Greta Thunberg, “the danger is when politicians and CEOs are making it look like real action is happening, when in fact almost nothing is being done.” She may find some unlikely bedfellows in the Square Mile. Active fund managers have endured a torrid time of late. The Woodford saga and M&G’s decision to [...]