Today’s top business headlines: - Investors digest Q2 GDP report - House passes budget and debt limit deal - State and automakers agree on emission standards - SpaceX launches Nickelodeon slime into space
Amazon on Thursday reported a profit of $2.6 billion for the three months ending in June — up slightly from the year prior, but well below its record of $3.6 billion set in the first three months of this year. That ends Amazon's streak of four consecutive quarters of record profits.The weaker profit comes as Amazon is investing heavily in expediting deliveries.
3: Vision Fund 2: SoftBank said Friday that it expects to raise $108 billion for the new Vision Fund 2 from the likes of Apple , Foxconn, Microsoft and Kazakhstan's investment fund. The Japanese tech company said it intends to invest $38 billion of its own money into the fund.Vision Fund 2 will plow money into tech startups driven by artificial intelligence. SoftBank founder Masayoshi Son has repeatedly said that he wants to have a stake in companies leading the AI revolution.
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Justice Department Is Investigating Google, Apple, Facebook And Amazon For Monopolistic ActivitiesThe Justice Department announced a huge antitrust investigation into the largest dominant technology firms in the United States, including Google, Facebook, Apple and Amazon. The DOJ will review the companies to determine if they are engaging in monopolistic anti-competitive activities.
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Google ad slowdown opens lane for AmazonThe Alphabet unit posted another quarter of slower revenue growth, while ad sales at Jeff Bezos’s firm jumped 37%. That suggests the e-tailer is taking market share from the search engine. A $25 bln share buyback highlights Alphabet’s mounting challenges as investment falls.
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Tulsi Gabbard Sues Google For Suspending Ad Account, Claims Google Is Trying To ‘Silence’ HerHer campaign claims Google engaged in “election manipulation.”
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Google Cloud is generating $8 billion in revenue a year and plans to triple sales forceGoogle CEO Sundar Pichai said Google Cloud is expanding rapidly.
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Tulsi Gabbard Sues Google For Suspending Ad Account, Claims Google Is Trying To ‘Silence’ HerHer campaign claims Google engaged in “election manipulation.”
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Google, Christopher Reeve Foundation to Give Away 100,000 Google Home MinisGoogle has teamed up with the Christopher & Dana Reeve Foundation to give 100,000 Google Home Mini smart speakers to people living with paralysis and their caregivers, the company announced Fri…
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