Warren Buffett's investment in Apple has tripled in value to north of $100 billion. Buffett's Berkshire Hathaway spent about $35 billion to build the 5.7% stake in Apple The 10% rise in Apple's stock price on Friday boosted its value to about $104 billion. Business Insider reports that Berkshire's Apple position is now worth more than four times its second-largest holding, Bank of America. Industry analysts call Buffett's investment into Apple "one of the best investments ever."
Shares of Apple have surged as much as 5% to an intraday high of $446.55 per share on Monday. That continues a post-earnings rally for the tech company. The surge pushed Apple's market capitalization to $1.92 trillion. If Apple gains another 5%, it will become the first company to hit a $2 trillion market value. Business Insider reports that Apple has had quite the year, gaining more than 48% even amid the coronavirus crisis.
Business Insider reports that Apple is trying to negotiate cheap rent for some of its retail locations in the UK. In some of its 38 stores across the UK, Apple is asking for a 50% rent reduction. It also wants a temporary rent-free period. Apple generated $58.3 billion in revenue in the second quarter of this year. Per the Times, Apple posted UK sales of $1.8 billion for 2019, and $8 million in taxes to the UK.
Amazon's Q2 2020 was its biggest online sales quarter ever due to the coronavirus pandemic. Amazon racked up $45.8 billion in global online store net sales in the second quarter of 2020. Amazon exceeded the $45.7 billion it brought in during the forth-quarter of 2019. Business Insider reports that Its Prime subscription thrived in the second quarter, building Amazon's base of loyal customers.
Google on Monday announced a partnership with security firm ADT and said as part of this multi-year partnership, it will 'make a Dollar 450 million investment in ADT'. "Today, we're announcing a long-term, strategic partnership between Google and ADT, a leading US security and home automation provider," Rishi Chandra, Vice President and GM, Nest, said in a blog post. Chandra said that Google will combine its Nest devices, services, and technology with ADT's leadership position providing security solutions for "millions of homes and small businesses in the US." "Over time, Nest's devices, powered by Google's machine learning capabilities will enhance ADT's security monitoring and become the cornerstone of ADT's smart home offering. The goal is to give customers fewer false alarms, more ways to receive alarm events, and better detection of potential incidents inside and around the home," Chandra said. Chandra said that ADT customers will also have access to Nest Aware, a service that keeps people informed about important events at home, including intelligent alerts and event history recording for up to 30 days. "As part of this multi-year partnership, Google will make a Dollar450 million investment in ADT in exchange for shares of a newly created Class B common stock having all the rights and preferences of ADT's common stock except for the right to vote on the election, appointment or removal of directors," the blog post read. "Upon the closing of Google's equity investment in ADT, Google will own approximately 6.6 per cent of ADT's outstanding aggregate common equity. Google's equity investment, which is subject to customary closing conditions, is expected to close in the third quarter of 2020," Chandra added.
The Duke and Duchess met with elderly residents at Shire Hall Care Home in Cardiff and admired their garden. William and Kate had previously been guest bingo callers at the home via a video call in May and during this visit spoke with a familiar resident.
Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Business Secretary Alok Sharma says clinical trials of a vaccine being developed in Scotland could get underway by the end of the year, but rejects claims that the government was slow in its response to the pandemic. Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Prince William and Kate have visited Barry Island where they joined in with children playing at an amusement arcade. The Duke and Duchess of Cambridge spoke with local business owners about the impact Covid-19 has had on the seaside resort. Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Aerial footage shows the devastating impact of a massive explosion that killed at least 100 people in Lebanon’s capital Beirut.
Officials said the huge blast, caused by 2,750 tonnes of ammonium nitrate, also injured more than 4,000.
It has emerged that the chemical was stored unsafely in a warehouse near the city’s port, where the explosion occurred.
Lebanese Prime Minister Hassan Diab has said that “those responsible will pay the price for this disaster.”
Authorities are still struggling to establish the full scale of the damage, as rescue efforts continue. Report by Avagninag. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Nasdaq jumped more than 1% on Friday, powered by strong earnings from some of the largest U.S. companies, but the Dow and S&P finished with smaller gains as uncertainty about the government's next..
This week, the CEOs of Facebook, Apple, Alphabet and Amazon were called before the House's Antitrust Subcommittee to defend the vast empires they've built. Jeff Bezos, Tim Cook, Sundar Pichai and Mark..
Credit: TechCrunch TV News Duration: 27:13Published