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Facebook said on Monday it plans to report second-quarter earnings Thursday instead of Wednesday “due to a scheduling conflict.” Chief executive Mark Zuckerberg (pictured) is set to testify before the House Judiciary Committee on Wednesday at an antitrust hearing that will look into the business practices of Big Tech companies Facebook, Apple, Alphabet and Amazon.com. …
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Veteran Wall Street traders advise switching from Netflix to Alphabet citing concerns over Netflix’s business model and valuations. Netflix shares were down 8.5% in pre markets on Friday after its mixed second quarter earnings. While Netflix’s second-quarter revenues jumped almost 25% to $6.1bn and added more than 10 million subscribers in the three months to July,…
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UK saving rates have hit record lows as a range of savings accounts – including easy-access, fixed-rate and Isas – now pay an average interest rate of less than 1%. The average easy-access rate is now 0.24%, according to the Moneyfacts UK Savings Trends Treasury Report, which looks at the range of accounts across the…
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Walgreens Boots Alliance might have been expected to a coronavirus winner when it posts its third-quarter earnings on Thursday, but instead the drug store giant has spent the year battling leaner rivals. The chain is forecast to post a 0.9% decline in revenues to $34.3bn, but a more substantial 19% drop in profits to $1.19…
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As gold prices remain on an upward trend, Bank of America says the rise in gold prices is set to test the 2012 highs of $1,790-1,805/oz in the next week. Gold’s recent rice comes after months of escalating political and economic instability due to the resurgence of coronavirus cases, particularly in the US as well…
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The Pentagon has unveiled a list of Chinese firms it says are owned or controlled by the communist Republic’s military, exposing fresh tensions between the world’s two largest economies. The 20-strong list includes telecoms giant Huawei, video surveillance firm Hikvision, China Railway Construction, and China General Nuclear Power. China Telecom and China Mobile, two telecoms…
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The coronavirus crisis may have wreaked havoc through markets, entire industries and economies but some brands that have emerged stronger than before after the lockdown. One such company is Netflix, which has seen a growing interest from investors and stock brokers in Netflix stock. Netflix stock has outperformed the Zacks Broadcast Radio and Television industry…
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Companies are once again resorting to poison pills to avoid hostile takeovers after their share prices tumbled during the coronavirus crisis, a report said. California-based consultancy firm Veritas highlighted that companies in the US were again using poison pills, moves that can allow existing shareholders to buy preferred shares at a substantial discount, thereby diluting…
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The battle between Microsoft and Microsoft messaging rival Slack is stirring up as camps start forming. On Friday, investment bank Goldman Sachs downgraded Slack’s stock to sell because of what it expects to be an “enduring battle” for customers between the two messaging apps. That saw Microsoft messaging rival Slack’s stock go down 2.7%, to…
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Bluebird and Pont de la Tour are among the London restaurants that announced plans to reopen on 4 July after coronanvirus lockdown restrictions are lifted. After pubs and brick-and-mortar retailers started reopening venues, London restaurants are next in line to finalize plans to reopen. D&D London, which owns some of the most famous London restaurants,…
