Apple Inc. became the world’s most valuable company with its market value overtaking Saudi Aramco in the wake of better-than-expected earnings. Apple jumped 10% on Friday, ending the day with a record market capitalization of $1.817 trillion. It’s the first time the company’s valuation has surpassed that of Saudi Arabia’s national oil company, which made […]
View PostWeek Ending 31st July 2020 The US economy shrank at a 32.9% annual rate between April and June as the country grappled with lockdowns and spending cutbacks during the pandemic. It was the deepest decline since the government began keeping records in 1947 and three times more severe than the prior record of 10% set […]
View PostIntel says the production of its next-generation chips will be set back until 2022, following years of delays getting its current-generation chips on sale. The company said it was exploring “contingency plans” such as having third-party manufacturers produce some of its products. In June, Apple said it would transition its Mac computers away from Intel […]
View PostUK retail sales were near pre-lockdown levels in June, as the reopening of shops released pent-up demand. The amount of goods sold last month increased by 13.9% compared to May, according to the Office for National Statistics (ONS). Separately, a closely watched survey showed that activity in the UK’s services and manufacturing sectors returned to […]
View PostEuroIndependent Far East are pleased to be able to offer a new investment in to Universal Access Bonds or UAB which can be purchase through The Investment Platform TIP. More info
View PostThe world is facing a staggering jobs challenge with a quarter of a billion people set to lose their job this year, the president of Microsoft has said. Brad Smith says millions will need to learn new skills to get jobs, or even to hang on to their old one, as the digitisation of economies […]
View PostTesla has become the world’s most valuable carmaker, overtaking Japan’s Toyota, after its stock hit a record high. Shares in the electric carmaker touched $1,134 on Wednesday morning before falling back, leaving it with a market value of $209.47bn (£165bn). That is roughly $4bn more than Toyota’s current stock market value. However, Toyota sold around […]
View PostAir France-KLM plans to cut more than 7,500 jobs at its French arm as the airline industry reels from the coronavirus crisis. Europe’s second-biggest airline will cut 6,560 staff at Air France, with its regional French carrier Hop! losing 1,020 jobs, the company said on Friday. In a statement, the firm said: “Recovery looks set […]
View PostThe way British businesses trade with the European Union is set to change fundamentally at the end of the year. The UK left the EU on 31 January but remains in the single market and customs union until 31 December, while the two sides try to hammer out a trade agreement. The end of the […]
View PostGovernment borrowing surged to £62bn in April, the highest monthly figure on record, after heavy spending to ease the coronavirus crisis. It means the deficit – the difference between spending and tax income – was larger last month than forecast for the whole year at the time of the Budget. The data from the Office […]
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