What is 5G and how does it work? Everything you need to know about the next-generation network July 26, 2019 Mobile operator EE hit the headlines last week when it launched the UK’s first 5G network at a lavish launch party on the river Thames. EE boss Marc Allera hailed a “historic moment” as the firm live-streamed a performance by hit rapper Stormzy against the iconic backdrop of Tower Bridge. Customers on EE can now [...]
Softbank launches new $108bn Vision Fund for AI investment July 26, 2019 Softbank has unveiled its second mammoth Vision Fund, which it said will have $108bn (£87bn) to invest in AI-focused tech firms. Read more: Softbank earns $11bn for selling some of its huge Alibaba stake Softbank said it has received backing from a string of companies including Apple, Foxconn, Microsoft and Standard Chartered, while the Japanese [...]
Prime delivery race creates hurdles for Amazon July 25, 2019 Retail giant Amazon disappointed investors and analysts alike tonight, reporting profit for its second quarter well below estimates and breaking its long-running record earnings streak. Profit came in at $2.6bn (£2.1bn), or $5.22 per share, for the three months to the end of June. Analysts were expecting income of $5.57 per share. Amazon also said [...]
Google takes off as revenue tops expectations July 25, 2019 Google parent firm Alphabet reported higher than expected second-quarter profit and revenue tonight, causing shares to jump more than nine per cent after-hours. The healthy picture eased some concerns regarding the growth of Alphabet-owned companies such as Google, Youtube and its cloud computing division, following a heightened focus on competition in the tech sector. Sales [...]
Apple splashes out $1bn on Intel’s chip business July 25, 2019 Apple has snapped up the majority of Intel’s smartphone chip business for $1bn (£800m) as it looks to secure its own supply of the vital iPhone part. Read more: Apple’s tax bill slashed by more than half Around 2,200 Intel workers will move to Apple, who will also acquire intellectual property, equipment and leases relating [...]
Elon Musk’s Tesla loses more than $5bn in value as shares plummet July 25, 2019 Tesla’s valuation dropped by more than $5bn when markets opened this afternoon as investors reacted to the firm’s disappointing second-quarter results. Shares in Elon Musk’s firm plunged more than 13 per cent to just under $229 after figures for revenue and profit margin fell short of expectations. Read more: Tesla revenues fall short of expectations [...]
Sage shares fall as it warns of slipping license software sales July 25, 2019 Sage’s share price has dipped 12 per cent after the British IT firm revealed traditional software sales fell over the first nine months of the year. Sage’s core software revenue dropped 15.5 per cent year on year to £195m, it said today, blaming underperforming sales for its old X3 as it transitions to its cloud-based [...]
Samsung Galaxy Fold ‘ready for launch’ after screen fix July 25, 2019 Samsung today said its foldable smartphone will be ready for launch from September after problems with the device’s screen caused its release date to be delayed. Read more: Samsung cuts output at its last Chinese smartphone factory The Galaxy Fold, which is the firm’s first foldable phone, was due to be released in April, but [...]
Facebook beats estimates after record $5bn fine over privacy violations July 24, 2019 Revenue at Facebook in its second quarter has topped analysts’ estimates, hours after it agreed to pay a record $5bn penalty to the US Federal Trade Commission (FTC) relating to violations of its users’ privacy rights. In the second consecutive quarter for beating expectations, Facebook’s revenue rose to $16.9bn from $13.2bn a year ago, surpassing [...]
Tesla revenues fall short of expectations despite record cars built July 24, 2019 Electric car company Tesla posted second-quarter revenue below analysts’ expectations, pushing its shares down 10 per cent to $239.24 in after-hours trading. Read more: Tesla shares rally as firm makes record number of deliveries Total revenues climbed to $6.35bn (£5.09bn) from $4bn a year earlier, but this was below the $6.41bn expected by analysts. Yet [...]
