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WASHINGTON, United States (AFP) — Jeff Bezos said Tuesday he would give up his role as chief executive of Amazon later this year as the tech and e-commerce giant reported a surge in profit and revenue in the holiday quarter. The company said Andy Jassy, who heads Amazon Web Services, would take over as CEO in the third quarter. The announcement came as Amazon reported a blowout holiday quarter with profits more than doubling to […]
NEW YORK, United States (AFP) — Sales of the Covid-19 vaccine developed by Pfizer and BioNTech could reach up to $15 billion in 2021 and go higher if Pfizer signs additional supply contracts, Pfizer said Tuesday. The projections came as Pfizer projected full-year 2021 sales of between $59.4 billion and $61.4 billion, meaning that about one-fourth of estimated total sales will come from the Covid-19 vaccine. The forecast reflects “a continued recovery in macroeconomic […]
by Sunghee Hwang Agence France Presse SEOUL, South Korea (AFP) — Samsung Electronics, the world’s biggest smartphone and memory chip maker reported fourth-quarter net profits up by more than a quarter year-on-year Thursday, with coronavirus-driven working from home boosting demand for devices powered by its chips. But the figures were below market expectations according to Bloomberg News, and the company warned of persisting uncertainties over the pandemic, and lower profits in Q1 2021 due […]
MADRID, Spain (AFP) — Spain’s economy contracted sharply by 11 percent in 2020 due to the upheaval triggered by the Covid-19 pandemic, the National Statistics Institute said in a first estimate published Friday. The figure is largely in line with the fall of 11.2 percent predicted by Spain’s government although the International Monetary Fund had seen a sharper contraction of 12.8 percent. France also saw its economy shrink by 8.3 percent in 2020, Germany […]
Facebook profit surged in the final three months of last year as people enduring the holidays in a pandemic turned to the leading social network for work and pleasure, the company said Wednesday. Facebook reported profit of $11.2 billion on revenue of $28 billion, increases of 53 percent and 33 percent when compared with the same period the prior year. “We had a strong end to the year as people and businesses continued to […]
Apple said Wednesday that profits surged in the final three months of the year on growing sales of iPhones and services, which lifted revenues to an all-time record. Profit in the period ended December 26 rose 29 percent from a year ago to $28.7 billion, while revenues grew 21 percent to $111.4 billion, with international sales accounting for nearly two-thirds of sales. Sales topped the $100 billion mark for the first time as Apple won […]
by Nina LARSON Agence France Presse The coronavirus pandemic took a huge toll on global jobs last year, the United Nations said Monday, with the equivalent of more than a quarter of a billion lost. In a fresh study, the UN’s International Labour Organization (ILO) found that a full 8.8 percent of global working hours were lost in 2020, compared to the fourth quarter of 2019. That is equivalent to 255 million full-time jobs, […]
HONG KONG, China (AFP) — Asian markets saw Joe Biden’s first day as US president with broad gains Thursday as investors look forward with optimism about his economic and Covid-19 recovery plans. Soon after being sworn in, Biden signed more than a dozen executive orders unwinding some of his predecessor’s policies, including rejoining the World Health Organization that observers say will help in the fight against the devastating disease. He also signed back up […]
(Eagle News) – After almost 30 years of operation, Makati Shangri-La Hotel will be temporarily closing operations starting February 1 as the hotel chain is hit hard by the COVID-19 pandemic. In a letter to the Philippine Hotel Owners Association, Vice-President for Operations (Philippines) of the Shangri-La Group John Rice said that throughout the “unprecedented pandemic” in the last 10 months, their priority has been to “preserve as many jobs as possible for our […]
LONDON, United Kingdom (AFP) — Britain’s annual inflation rate jumped in December partly on higher transport costs as Covid restrictions temporarily eased, official data showed Wednesday. The rate, as measured by the UK’s Consumer Prices Index, rose to 0.6 percent last month from 0.3 percent in November, the Office for National Statistics said in a statement. Analysts’ consensus forecasts had been for a rise to 0.5 percent. “Transport costs… as well as petrol prices rose […]
SINGAPORE (AFP) — Singapore’s economy suffered its worst ever annual contraction in 2020 as the coronavirus pandemic hammered the city-state’s vital trade and tourism sectors, official data showed Monday. But the 5.8 percent decline was not as bad as feared — official forecasts had predicted a fall of up to 6.5 percent — as economic activity picked up with the easing of curbs. The financial hub plunged into its first recession since the 2008 […]
MOSCOW, Russia (AFP) — Encrypted messaging app Telegram will launch pay-for services in 2021, its Russian-born founder Pavel Durov said Wednesday, as the growing company needed “at least a few hundred million dollars per year”. “Telegram will begin to generate revenue, starting next year,” Durov said in a statement. “We will be able to launch countless new features and welcome billions of new users.” Durov, 36, said he did not plan to sell the […]
