On Tuesday, the European Commission (EC) fined Google with a record sum of €2.42 billion ($2.7 billion), equal up to 5% of the Alphabet average daily worldwide turnover, for abusing its leadership in the search engine market. The EC stated that Google search engine served as a source of illegal advantage for other Google products (shopping service), and it is a direct abuse of European Union (EU) antitrust rules. The company was required to stop its illegal activity within 90 days. (more…)
On Thursday, Alphabet Inc reported about a notable increase both in profits and revenues since its core advertising business keeps growing despite YouTube boycott. Earnings numbers significantly exceeded analysts’ expectations; they rose by 29% to the level of $5.43 billion. (more…)
Apple Inc, Alphabet Inc’s Google and Facebook Inc have joined other 60 companies that rejected to participate in the legal conflict around Donald Trump’s controversial travel ban. They decided not to add their names’ weight on a lawsuit to block a second version of U.S. President’s executive order. (more…)
Huawei Technologies has distributed the new phone with the AI features on Thursday. The company is obviously trying to compete with market-leading companies like Apple and Samsung (especially after the flagship phone scrapping). The analysts expect the smartphone sales to grow by 4.5% up to 1.5 billion devices this year. (more…)
The report on Unemployment Claims is scheduled for release today by U.S. Department of Labor. The report will provide actual information on employment and job market indicators. The previous report released on October 20 indicated the rise of initial claims to 260,000 (by 13,000 from the earlier week level).
U.S. Oil futures and stock prices started to rise after the fall
Before the Wednesday opening, indicators of the crude futures on NYMEX quoted down 0.03%. On the other hand, API reported a heavy drop of the crude stocks of American companies last week. Analysts designated the expected draw amount as 1.5 million barrels, yet result reported by the American Petroleum Institute outcome of 7.6 million barrels. In Asia, crude prices made their rise because of the U.S. crude stocks big drop. (more…)