Tuesday, 8 September 2020

Slack's user growth hurt by competition, shares slump

Slack's user growth hurt by competition, shares slump

Slack Technologies Inc posted slowing quarterly billings growth and added fewer paid customer to its workplace messaging platform, hurt by strong competition in the work-from-home market, sending its shares down 15% in after-hours trading.

Amazon's Bezos tops Forbes richest list, pandemic knocks Trump lower

Amazon Chief Executive Jeff Bezos topped Forbes' list of richest Americans for the third year in a row, while U.S. President Donald Trump's ranking dropped as the coronavirus pandemic slammed his office buildings, hotels and resorts, the magazine said Tuesday.

Uber promises 100% electric vehicles by 2040, commits $800 million to help drivers switch

Uber Technologies Inc on Tuesday said every vehicle on its global ride-hailing platform will be electric by 2040, and it vowed to contribute $800 million through 2025 to help drivers switch to battery-powered vehicles, including discounts for vehicles bought or leased from partner automakers.

Unilever CEO expects shareholder support for UK HQ move

Unilever expects shareholders to support its plan to unify its headquarters in London and scrap its Dutch base and believes a potential law enacting an "exit tax" in the Netherlands would breach European Union law, its chief executive said on Tuesday.

Stocks end lower as tech swoon persists, Tesla in historic drop

U.S. stocks closed lower for a third straight session on Tuesday as heavyweight technology names extended their sell-off to send the Nasdaq into correction territory, while Tesla suffered its biggest daily percentage drop after the stock was passed over for inclusion in the S&P 500.

Equities tumble as Nasdaq, Brexit concerns mount; bonds rally

Global equity markets and oil prices tumbled on Tuesday as a sharp sell-off in technology stocks and rising concerns over Britain leaving the European Union without a trade agreement threatened the rally that had pushed world shares near record highs despite the coronavirus pandemic.

U.S. airlines absent from Senate COVID-19 relief proposal, unions plan action

A fresh U.S. Senate Republican coronavirus spending package introduced on Tuesday does not include new government assistance for U.S. airlines or airports, a text of the proposal showed, as the sector races to save jobs before October.

Oil prices stumble, hit June lows on Saudi price cut, COVID flare-ups

Oil futures settled sharply lower on Tuesday, with Brent sinking below $40 a barrel for the first time since June and U.S. crude falling nearly 8% after Saudi Arabia cut its October selling prices and COVID-19 cases rebounded in several countries.

Apple seeks damages from 'Fortnite' creator in App Store dispute

Apple Inc on Tuesday filed counter claims against "Fortnite" creator Epic Games asking for lost App Store fees and other damages, and seeking an order to stop the game maker from operating its own in-app payment system.

Baker Hughes plots low carbon future as oil prices remain low

Baker Hughes is pivoting to customers preparing for the transition to a low-carbon future, bolstering its footprint beyond oil and gas oilfield services, its chief executive said on Tuesday.

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