Amazon finishes New York affair on Valentine’s Day

Amazon, the biggest company in the US  with the richest man as its head, stunned New York by announcing it would no longer relocate its second headquarters to the city, which promised 25, 000 jobs and its $3bn tax incentives and $27bn in tax revenues over the next two decades.  Possible culprits include State Governor…

Bing restored in China after being inaccessible

Microsoft in a statement said “ We can confirm that Bing was inaccessible in China, but service is now restored”. The outage caused concern that the service might have been blocked by the Chinese authorities, in the same way the firewall that blocks  Facebook and Twitter. Chinese authorities have also cracked down on Virtual Private…

Amazon No.1 Company in the world

Amazon, the online giant was worth $797bn (£634bn) when the US stock market closed on Monday after rising 3.4 per cent  and moved past Microsoft valued at $789bn. Jeff Bezos, the founder of Amazon, is the world’s wealthiest man, with riches of  $135 bn according the latest Bloomberg’s billionaire index. Amazon started in 1994, in…

Huawei posts 21 per cent increase in revenue to $109bn for 2018

Huawei, despite  “malicious incidents”  from US the UK, Australia, New Zealand and Japan who raised security concerns about supplier, has posted  21 per cent increase in revenues to $109bn for 2018. Guo Ping, Huawei’s current rotating Chairman said the Chinese telecoms equipment maker had secured 26 5G contracts this year said  ” We must not…

5G network auction raised £1.36bn

Regulator Ofcom said “an auction of frequencies, for the next generation of mobile phone networks has raised £1.36bn with Vodafone, EE, O2 and Three all winning the bandwidth needed for the future 5G mobile internet services and faster connections which is expected to be launched in 2020. Ofcom auctioned two spectrum bands 3.4 GHz, which…

Jio creates the world’s biggest mobile revolution in India

Mukesh Ambani, India’s richest man, has spent £25bn building up his telecoms company Reliance Jio – the biggest private sector investment with over 200m Indian phone users taking advantage of the competition, as he fights for dominance in the second-largest telecoms market by user numbers. Most of the money was spent by giving away free…

Has WPP lost trust of many investors?

WPP which owns companies like Ogilvy& Mather, J Walker Thompson and Group M, had a steep share price fall, by more than 6 per cent in the wake of threat from new competitor like Accenture and the rise of Google and Facebook in advertising. At the start of the year WPP had forecast flat margin…