Third quarter tech earnings soar
Amazon, Apple, Facebook and Google all reported higher Q3 sales and profits, while Twitter’s gains disappointed analysts. Alphabet: Google’s parent company posted $46.17bn in revenue compared to the $42.9bn forecast by analysts. Sources: CNBC, FT and Reuters. Amazon: Reported 37% sales growth compared to Q3 the previous year. Sources: CNBC, FT and The Guardian. Apple: Revenue was up 1% year-over-year, with slower Iphone but higher Mac sales. Sources: CNBC, FT and Marketwatch. Facebook: Total turnover and advertising sales both grew by more than 20%. Sources: Bloomberg, CNBC and FT. Twitter: Revenue increased by 14% but user growth was slower than expected. Sources: Bloomberg, FT and Seeking Alpha.
Facebook gains partial victory in EU antitrust inquiry
The EU General Court, in Kirchberg, sided somewhat with Facebook, which claimed that European Commission antitrust investigators had demanded an excessive number of records that could expose personal information. The court said sensitive documents should be stored in a “virtual data room” with limited access. Sources: Bloomberg and Reuters.
SES wins Canal+ deal
The French pay TV group Canal+ signed a fresh 10 year agreement with Luxembourg satellite operator SES worth €230m. Sources: Delano and Paperjam.
US economy rebounds
The US economy grew by 7.4% during the third quarter compared to the second quarter, when it shrank by 31%. Output was still lower than Q3 last year. Sources: BBC, Financial Times and The Guardian.
Moderna preparing to release covid-19 vaccine
The biotech firm Moderna said it has received $1.1bn in deposits for its potential coronavirus vaccine, which it is “actively preparing” to launch. Sources: AFP, CNBC and FT.
Latest Luxembourg coronavirus numbers
Out of 8,646 PCR tests performed, 697 Luxembourg residents tested positive for covid-19 (a rate of 111.32 per 100,000 inhabitants) on Wednesday. There were 140 patients in hospital, including 21 in intensive care. Three people died due to the virus. Sources: Delano and Luxembourg health ministry.
Chamber of Deputies passes coronavirus bill
Luxembourg’s parliament approved the covid-19 restrictions outlined by the government last week. The measures included an 11pm to 6am curfew, limiting external contacts to 4 people and compulsory wearing of a face mask for any interaction with more than 4 people. Police will start enforcing the curfew today. Following the bill’s passage, Xavier Bettel, the prime minister, tweeted: “Now more than ever: let’s be responsible and stay healthy, together!” Sources: Delano and Paperjam.
Covid-19 patients could be transferred between EU countries
EU leaders agreed they would transfer coronavirus patients between member states if needed to alleviate pressure on national hospital systems, and to cooperate better on testing, tracing and vaccination programmes. Sources: DW, Politico and Reuters.
Knife attack in southern France
Three people were killed and several wounded in a terror attack at a church in Nice. Sources: France 24, DW and NPR.
Corbyn suspended following antisemitism report
The UK’s Labour Party has suspended its former leader, Jeremy Corbyn, after Corbyn said antisemitism was “dramatically overstated for political reasons”. Sources: BBC, The Guardian, Politico and Sky News.
New Zealand voters approve euthanasia
A referendum in New Zealand to permit euthanasia for terminally ill patients passed by 65%. However, voters did not give a green light to legalising cannabis. Sources: BBC, The Guardian, Newshub and Radio New Zealand.
LVMH-Tiffany’s deal back on
After acrimonious renegotiations, the French luxury giant LVMH will acquire the American jewellery group for $15.8bn, about $425m less than previously agreed. Sources: Bloomberg, FT and Reuters.
Agenda
Thursday 5 November, 7pm: Post-US election party in Howald. Friday 6 November, 10am-5pm: University of Luxembourg student career fair. Monday 9 November, 12noon: American and British chambers host a personal tax info session.
Here are 5 science & technology stories you may have missed
Astronomy: A new orbiting telescope launching in 2025 will use a technique called “gravitational microlensing” to search for “free-floating planets”, per Smithsonian magazine. Psychology: A Norwegian study concluded that we lose our “get up and go” at age 54, per The Guardian. Radioastronomy: Researchers have, per Popular Mechanics, discovered “odd radio circles”, space objects which “do not seem to correspond to any known type of object”. Statistics: Postal voting fraud in the US is “exceedingly rare” per Nature. Teleworking: Microsoft said it had 115m average daily users on its Teams videoconference platform as of 30 September, per The Register.
Good boy!
The Daily Star has a brief feel-good video of a nice dog in eastern China sharing his meal with a stray cat.
Today’s breakfast briefing was written by Aaron Grunwald