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Americas leading technology companies recovered from hostile congressional questioning to report a blowout quarter on thursday, with their combined marketplace value soaring above $5tn the very first time in after-market trading.
The prosperity of apple, amazon, alphabet and twitter received a sensational comparison using us economy as a whole, which experienced its biggest contraction in postwar record into the second one-fourth, and offered a visual screen of huge techs company strength. here are the shows:
The results deliver most convincing argument however of stranglehold technology giants have on the us economic climate, writes our lex line.
Richard waters writes that technology main executives this week failed to present a convincing situation they own not been tilting the electronic playing area but says they probably don't have a lot of to fear. the ft view is united states antitrust rules tend to be insufficient for internet based period. (ft)
The ft has launched aglobal economic data recovery trackerto supply a primary snapshot of task across important sectors.follow our live protection here.
Trump floats idea of election wait donald trump proposed delaying novembers election, which he does not have the power doing. barack obama needed voting legislation reform inside the eulogy to civil rights leader john lewis, just who in an op-ed written before his death urged: democracy is not a situation. it is an act, and every generation should do its part. (ft, nyt)
Joe biden is approaching a choice for a flowing mate see where he and mr trump stand in our poll tracker.
Backlash over us troops withdrawalfrom germany some senators in the senate international relations committee framed the drawdown of 12,000 us troops from germany as advantageous to russia.but mike pompeo, the united states assistant of state, defended your decision, saying germany had been not the front range when it comes to us in european countries. (ft)
Lse views selling italian assets the london stock-exchange group features started exploratory conversations to sell some or each of its italian possessions to secure its $27bn buy of information and trading group refinitiv. (ft)
Nokia lifts revenue assistance the finnish telecoms equipment manufacturer lifted its revenue and cash flow assistance for 2020 in front of a change in chief executive. bt, which earlier on this present year withdrew profit assistance and suspended its dividend, reported a 13 per cent fall in quarterly earnings due to the influence of coronavirus. (ft)
Indigenous australians intensify protests against deaths in custody the loss of george floyd in the usa features struck a chord with native australians, which compensate just 2 percent associated with population but 27 percent of countrys prisoners. (ft)
Previous taiwan president dies lee teng-hui, taiwans very first democratically elected president, remembered for leading a calm change from autocratic rule, passed away on thursday. he was 97. (ft)
Climate change warnings britain put four heat documents last year, that was hotter than any year between 1884 and 1990, the met office stated, caution that environment change is happening now. increasing coastal floods across next 80 many years could jeopardize possessions really worth 20 per cent of global gdp, a research alerts. (ft)
The buying price of silver arrived within striking length of exactly what record recently: $1,000, $2,000 or $4,000? take our test.
Increase to united states unemployment benefits because of lapse with democrats and republicans at an impasse over the after that period of coronavirus stimulus, a $600 boost in weekly jobless payments received by more than 30m us citizens will lapse on friday. (cnbc)
Oil majors report outcomes exxonmobil and chevron report on friday. conocophillips reported a $1bn loss on thursday but stated it had been beginning to turn manufacturing straight back on after curtailments in the aftermath of aprils cost crash. for more news and evaluation regarding the energy business, sign up to our power source newsletter right here. (ft)
Us providers cling to fairly share buybacks despite the us slipped into its worst recessionin decades, corporate the united states is finding it tough to kick the share buyback routine. s&p 500 businesses that have reported second-quarter earnings so far have actually decreased the number of their particular outstanding stocks by about only 0.3 per cent through the earlier one-fourth, says united states capital markets correspondent richard henderson in nyc. (ft)
No result in picture to americas pandemic problems the united states is not winning the war from the pandemic. it is barely also battling it, writes edward luce into the newest swamp records. his prediction when it comes to coming months? more of equivalent considering too little severe national management. fellow swamp notes blogger rana foroohar has actually better news from new york and chicago. (ft)
Space arms battle fears whenever, on july 15, russian satellite cosmos 2543 triggered a particular and hitherto secret purpose by firing a projectile across the atmosphere, it verified american suspicions: this was no ordinary satellite. it also reignited concerns that room isbecoming the new battlegroundfor strategic worldwide supremacy. (ft)
Connectedin spy scandal spotlights chinas on line espionage dickson yeo, a singaporean doctoral prospect, touted his us-asia contacts on relatedin. a week ago, he admitted to deeper ties: doing work for chinese cleverness, focusing on united states officials on networking site. beijing has actually a fresh tool to chase straight down fugitive expatriates: united states courts. (ft, wsj)
A farming change is what we are in need of inside crisis the covid-19 pandemic has had a reckoning for the way we feed ourselves and in which we get our meals, writes donna kilpatrick, head of us farming education center heifer ranch. (ft)
Is scottish freedom inescapable? the greater the anglo-scottish border appears to represent one thing beyond walter scott, the more normal a push for freedom seems, writes alec russell, ft weekend editor. joshua chaffin reflects on which he misses most about staying in britain. (ft)
Johnny depp, the high court additionally the truth of popularity oneof films most mercurial talentshas sued british tabloid sunlight in one of the more extraordinary libel studies in english appropriate history, henry mance writes. could anyone possibly emerge successful from such wreckage? (ft)
The panopticon is herepresident xi jinping is using artificial intelligence to give their federal government much more control of its people. he wants china to achieveai supremacy by 2030 and a call to beijings institute of automation gives an insight in to the kind of world such advancements could produce. (atlantic)
Maps that count gold is master in times of crisis, and has now achieved record levels this week. but wagering on silver is also a bet against history, says the fts united states finance editor robert armstrong.