Amazon posts 4th consecutive quarter of record profits
The online retailer and cloud computing provider Amazon reported that its first quarter net income more than doubled, from $1.6bn to $3.6bn year-on-year, while revenue rose 17%. The company said it would cut delivery times for its Prime membership customers from 2 days to 1 day worldwide. Reported by the BBC, Financial Times and Reuters.
Microsoft revenue up 14%; market value briefly hits $1trn
The tech giant Microsoft reported better-than-expected quarterly sales and profits, and briefly reached market capitalisation of $1trn. Reported by the BBC, Guardian and Marketwatch.
“Employee-owned” says Huawei
Huawei hit back at allegations that it is secretly controlled by China’s government. The telecoms gear maker said it is ultimately owned by “96,768 employee shareholders”. Reported by the New York Times, Nikkei Asian Review and South China Morning Post.
No deal to create German banking behemoth
Merger talks between Deutsche Bank and Commerzbank, Germany’s largest banks, collapsed, per DW, the Economist and Financial Times.
Degroof Petercam faces compliance procedures review
The European Central Bank is scrutinising the results of a money laundering audit of Degroof Petercam, a Belgian private bank, by Belgium’s central bank, reported Reuters.
Macron wants €5bn tax cuts
Emmanuel Macron, the French president, promised to cut income taxes, raise pension payments and enact other reforms in response to months of anti-government Gilets jaunes (yellow vest) protests. Reported by the AFP, Financial Times and Guardian.
Biden makes bid
Joe Biden, the US vice president under Barack Obama, entered the 2020 presidential race. Reported by the Associated Press, BBC and Reuters.
Trump’s chief of staff bars subject of Russian from meetings
Kirstjen Nielsen, who recently resigned under pressure as US homeland security secretary, was told not to discuss potential Russian meddling in 2020 elections with Donald Trump, according to the New York Times.
WHO recommends restricting screen time for under-5s
The UN’s health agency said infants under 12 months should not be exposed to electronic screens at all and children ages 2 to 4 should be limited to one hour a day at the very most, per DW, the Guardian and the Telegraph.
Later today
Mobility: Transport authorities will outline construction plans for Luxtram around the central train station. Earnings: Deutsche Bank announces quarterly results.
Looking ahead
Saturday 27-Sunday 28 April: The “Beluga II”, Greenpeace’s plastic pollution fighting ship, docks in Remich. Sunday 28 April: Sunday Morning Yoga in Bonnevoie at the trade union hall. Sunday 28 April: Car boot sale in Hesperange. Wednesday 1 May: The US Federal Reserve makes an interest rate announcement and BlackRock Capital Investment announces earnings. Thursday 2 May: The Bank of England releases inflation report and issues rate decision.
22m year old giant carnivore fossils found in museum drawer
Fossils of Simbakubwa kutokaafrika (“big lion from Africa” in Swahili) were unearthed about 40 years ago but only recently identified after a visiting scholar found them in a drawer. The predator “roamed what is now Kenya around 22 million years ago and was probably larger than a polar bear” said Nature. Also reported by Euronews and National Geographic.
How to beat AI video surveillance
Researchers at a Belgian university showed how facial recognition software can be foiled, according to MIT Technology Review, “with the aid of a simple color printout”.
Today’s breakfast briefing was written by Aaron Grunwald