News highlights for 2 November
Microsoft Chief Executive Officer (CEO) Satya Narayana Nadella
REUTERS/Lucas Jackson
Microsoft launches business messaging system, takes on Facebook, Slack
(Reuters) – Microsoft Corp launched a messaging system for businesses, Microsoft Teams, on Wednesday, putting it in direct competition with fast-growing startup Slack and Facebook Inc’s Workplace product. Read more…
Facebook shares hit by warning of slowing growth
(Reuters) – Facebook Inc shares tumbled 7 percent in after-hours trading on Wednesday as the world’s largest online social media network warned that revenue growth would slow this quarter, offsetting strong earnings that handily beat Wall Street estimates. Read more…
US warns of massive overcapacity because of over investment in semiconductor industry
WASHINGTON (Reuters) – Massive government investment in China’s semiconductor industry risks distorting the global market for integrated circuits, leading to damaging overcapacity and stifling innovation, U.S. Commerce Secretary Penny Pritzker has warned. Read more…
UK fintech companies finding it tough going in Brussels, post Brexit vote
LONDON (Reuters) – Fallout from the vote to leave the European Union is already threatening the growth of financial technology firms in Britain, industry officials said on Wednesday. Read more…
Alibaba steam on – beats revenue growth
BEIJING (Reuters) – Chinese online shopping giant Alibaba Group Holding Ltd reported a 55 percent rise in second-quarter revenue on Wednesday, beating analyst estimates on the back of core e-commerce sales and strong media and entertainment growth. Read more…
Lenovo posts second quarter profit
HONG KONG (Reuters) – China’s Lenovo Group Ltd, the world’s largest personal computer (PC) manufacturer by shipments, on Thursday said it returned to profit in its second fiscal quarter, beating analyst estimates, helped by the disposal of assets. Read more…
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