Apple introduces video subscription service
Apple has unveiled four major new products. Its streaming video service, called Apple TV+, will compete with the likes of Netflix (availability to be announced later this year, but “Apple plans to launch in over 100 countries” this autumn). Apple News+ bundles subscriptions to several large US newspapers and “over 300 magazines” (initially available in the US and Canada). Apple Card is a titanium credit card offered in partnership with Goldman Sachs (available in the US). The firm also introduced a new subscription gaming platform. Reported by the BBC, CNBC, Financial Times, Reuters and Verge.
China to buy €30bn in Airbus jets, beating out Boeing
Airbus was won a contract to sell 300 aircraft to the China Aviation Supplies Holding Company. The deal includes 290 A320 jets, which compete with Boeing 737s; the latest version of the Boeing jets were recently grounded after two fatal crashes. The agreement was signed during a visit by the Chinese president, Xi Jinping, in Paris. Reported by the BBC, Financial Times and Reuters.
Ghosn had company housing in employment contract
Nissan’s CEO signed off on a $40m retirement payment as part of a pay package for former Nissan chairman Carlos Ghosn, which included the continued use of company residences, in 2012, reported the Financial Times. Ghosn was charged last year with financial misconduct, including the undeclared use of those company residences. The document casts some doubt on those claims, the FT said. Ghosn has denied all allegations of wrongdoing.
Amazon trialling VC investment marketplace
The ecommerce giant Amazon is testing an investment platform connecting venture capital firms and family offices with startups, reported CNBC.
Brexit: London office space still in demand
Despite the exodus of financial firms from the UK to other EU locations in the run up to Brexit, London’s commercial real estate market has been holding up pretty well, according to this South China Morning Post op-ed. It is likely to continue doing so for the foreseeable future, largely driven by Asian investors.
Brexit: UK parliament seizes control from government
British MPs have voted (by 329 to 302) to take control of the “indicative votes” for the Brexit process. That means the House of Commons will vote on alternatives to PM Theresa May’s deal with the EU, such as entering a customs union with the bloc, holding a second referendum, cancelling Brexit altogether or going for a no-deal Brexit. Reported by the AFP, BBC, DW, Financial Times and Guardian.
Family who owns JAB Holding to make donation after Nazi disclosures
The Reimann family, one of Germany’s wealthiest, will donate €10m to charity after the Bild am Sonntag newspaper revealed that their ancestors were supporters of Adolph Hitler and used forced labourers under the Nazi regime, which the family has acknowledged. Their investment vehicle, JAB Holding, based in Kirchberg, owns or controls several major food & beverage brands, including Dr Pepper, Krispy Kreme Doughnuts and Pret a Manger. Reported by the Associated Press, BBC and DW.
Ticked off about GDPR
Pre-ticked boxes do not count as valid consent for placing cookies on a computer, an advocate general at the European Court of Justice has said in a preliminary opinion, reported the Register. The case, involving an online German lottery, will now be heard by a panel of ECJ judges.
Flight plans
A British Airways flight from London City airport to Düsseldorf accidently flew to Edinburgh instead. Reported by City AM, CNN and the Guardian.
Today’s breakfast briefing was written by Aaron Grunwald