News highlights for 27 July 2017
REUTERS/Mike Segar/File Photo
Jeff Bezos now the richest person in the world
(Reuters) – Amazon.com Inc Chief Executive Jeff Bezos has unseated fellow tech billionaire Bill Gates as the richest person in the world, profiting from the e-commerce company’s meteoric stock rise to reach a fortune of $90.6 billion, Forbes reported.
Twitter shares drop on flat monthly users
(Reuters) – Twitter Inc shares opened more than 10 percent lower on Thursday after the social media platform disappointed investors with stagnant monthly active user growth in the second quarter. Read more…
Facebook shares soar on unprecedented results
(Reuters) – Shares of Facebook Inc touched a record high on Thursday on the back of overwhelmingly positive quarterly results, adding more than $27 billion to its market value. The world’s biggest online social network posted a 71 percent surge in second-quarter profit. Read more…
O2 sales on the rise in the UK
Mobile operator Telefonica – AKA O2 – has posted an increase in sales in Blighty of 2.6 per cent to €1.6bn (£1.4bn) for its second quarter, with operating income before depreciation and amortisation (OIBDA) up 3.9 per cent to €433m. Read more…
Verizon tops estimates, shares rise
(Reuters) – Verizon Communications Inc reported quarterly revenue that topped expectations on Thursday as the No. 1 U.S. wireless carrier attracted more subscribers with its unlimited data plan. Read more…
Profits slump at Amazon as spending carries on
(Reuters) – Amazon.com Inc on Thursday reported a jump in retail sales along with a profit slump, as its rapid, costly expansion into new shopping categories and countries showed no sign of slowing. Read more…
Baidu profits jump with focus on mobile and AI
(Reuters) – Chinese internet search engine provider Baidu Inc has reported a jump in quarterly earnings, recovering from a string of regulatory investigations last year, as sharpened focus on mobile and artificial intelligence (AI) services drives growth. Read more…
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