Daimler downgraded sales forecast due to lack of microcircuits

UNITED STATES, WASHINGTON (EDUFINTECH) – A global semiconductor chip shortage will hit car sales in the second half of 2021, German automaker Daimler AG said. At the same time, the company maintained its annual profit margin forecast.

Daimler is among the largest automakers to have cut production this year due to chip shortages caused by the coronavirus pandemic.

At the same time, demand for cars rose sharply against the backdrop of renewed economic activity.

Sales of Mercedes-Benz cars jumped 27% in the second quarter, while in Europe, Daimler’s second market after China, by 54%.

The company expects annual car sales to remain at the 2020 level. The German automaker had previously predicted that sales this year would be well above last year’s.

The company on Wednesday confirmed that the group’s adjusted earnings before interest and taxes (EBIT) in the second quarter were 5.42 billion euros ($ 6.38 billion).

Daimler released preliminary quarterly results last week.

Apple may launch an installment payment service

UNITED STATES, WASHINGTON (EDUFINTECH) – Apple Inc. is working on a service that will allow users to pay for purchases in installments, Bloomberg reported Tuesday, resulting in shares of Afterpay Ltd and other buy-now-pay-later companies. fell sharply.

The American tech giant will recruit Goldman Sachs (NYSE: GS ), its partner since 2019 in the Apple Card credit card program, as a lender for loans, Bloomberg writes, citing sources familiar with the matter.

Afterpay, the nation’s largest installment plan provider, traded in Australia, was down nearly 10% in trading on Wednesday. Smaller competitors Zip Co Ltd and Sezzle also fell sharply. Affirm Holdings Inc, traded on the Nasdaq, slipped more than 14% during the Tuesday session and closed down 10.5%.

New antitrust lawsuit filed against Google in US

UNITED STATES, WASHINGTON (EDUFINTECH) – Thirty-seven state and district attorneys general filed a lawsuit Wednesday against Google owner Alphabet Inc. for allegedly bribing competitors and using restrictive contracts to illegally maintain a monopoly to your Android smartphone app store.

The accusations against the Google Play Store stem from an investigation involving almost all US states that began in September 2019 and has already led to three other lawsuits against the tech giant.

These cases threaten to dramatically change the way Google monetizes, including ads, in-app purchases and smart home gadgets.

Google said Wednesday that the goal of the litigation is to support several large app developers who want to gain benefits rather than helping small businesses or consumers. The company claims that unlike Apple Inc with its App Store on iPhones, Android supports its Play Store rivals.

Jeff Bezos steps down as Amazon CEO

UNITED STATES, WASHINGTON (EDUFINTECH) – Andy Jassy, ​​currently head of the cloud branch, will become the new boss of the multinational in place of the founder, who will remain, according to him, “involved in the big decisions of Amazon”.

Jeff Bezos, the founder of Amazon, announced Tuesday, February 2, that he would this year cede the role of CEO of the e-commerce giant while remaining chairman of its board of directors.

The multi-billionaire, “head and head” for the title of the richest man in the world with Tesla boss Elon Musk, has turned an online bookstore into a powerful technology company, a must on the Internet. Andy Jassy, ​​currently head of the group’s cloud branch (AWS), will become the new boss of the Seattle, Washington company in the third quarter.

“Amazon is [the company] it is thanks to inventions,” Jeff Bezos said in the group’s quarterly earnings release. “If you do it right, a few years after a surprising invention, new things become normal. People are yawning. It is the greatest compliment an inventor can receive , he continued. Amazon has never been so inventive, so now is a great time for this transition.”

Net profit doubled in the fourth quarter

“The departure of Bezos as managing director will cause a shock wave in the world of tech , reacted the analyst Dan Ives of the company Wedbush Securities. He’s a titan of the industry. It will leave an indelible mark; he changed the world.”

This announcement comes as Amazon emerges greatly strengthened from a year of pandemic that has exploded online commerce and cloud (remote computing) needs. 

Its net profit doubled in the fourth quarter of 2020, to $ 7.2 billion (6 billion euros), thanks to the lucrative holiday season and containment measures in many countries. Amazon is worth more than $ 1.6 trillion on the stock market.

The future boss, Andy Jassy, ​​joined Amazon when the company was still in its take-off phase, in 1997, as director of marketing. He founded Amazon Web Services there in 2003. The cloud branch, less known to the general public, has become one of the most profitable of the group that dominates this global market, ahead of Microsoft and Google.

“So that Amazon is focusing on this sector and its battle against Microsoft, the fact that Andy Jassy take the knobs indicates the beginning of a new chapter in the race to the cloud”commented Mr. Ives.

“I will remain engaged in the big decisions of Amazon,” Jeff Bezos wrote in a letter to his employees, while having “the time and energy” to focus on his philanthropic works, the Day One Fund and the Earth Fund, his aerospace company Blue Origin and the daily Washington Post, which he owns.

Burberry CEO Gobetti leaves the company

UNITED STATES, WASHINGTON (EDUFINTECH) – British luxury brand Burberry (LON: BRBY ) said Monday that CEO Marco Gobetti announced his intention to step down and accept another job.

EBay will sell business in South Korea for $ 3.1 billion

UNITED STATES, WASHINGTON (EDUFINTECH) – The world’s largest online auction eBay Inc. will sell its unit in South Korea, a local consortium of investors for 3.5 trillion Korean won ($ 3.1 billion), reports the Financial Times.

According to the publication, the consortium, which includes South Korea’s largest physical retailer E-Mart and the Internet portal Naver, plans to acquire 80% of eBay Korea’s shares, with the remainder remaining with the American company.

In documents for regulators, E-Mart indicated that it is in talks with eBay, but the sale has not been finalized, writes FT. Naver said in separate documents that the deal is still pending.

An eBay Korea spokesman declined to comment on the publication.

In January, eBay said it was considering strategic alternatives for its business in South Korea. In the first quarter ending in March, the South Korean division posted revenues of $ 389 million, up 25% on an annualized basis. It accounted for just under 13% of eBay’s total revenue for the quarter.

EBay ranked third in the e-commerce market in South Korea last year, with a share of about 13%, according to analyst firm Euromonitor, cited by the FT.

Both E-Mart and Naver are trying to compete with Coupang Inc., South Korea’s largest e-commerce company. Earlier this year, Coupang held a $ 4.6 billion IPO on the New York Stock Exchange (NYSE).

EBay shares fell 3.2% on Friday, to $ 63.26. Coupang fell 0.8% to $ 39.41.

Google will open up Android devices to other search engines in Europe

UNITED STATES, WASHINGTON (EDUFINTECH) – Google will open the door for competing internet searches in Europe to compete for free to install on Android devices by default.

The move by the world’s most popular internet search engine expands on Google’s commitment to EU antitrust regulators two years ago.

Twenty-seven member countries of the bloc are considering introducing rules in 2022 that will force Google, Amazon, Apple and Facebook to provide a level playing field for competitors on their platforms.

Google’s Android mobile operating system powers about four out of every five smartphones in the world. In 2019, Google said that competitors would have to pay through an auction system to list search engines from which a user in Europe could choose their preferred default system.

Google changed its stance after it was fined 4.24 billion euros ($ 5.16 billion) by the European Commission in 2018 for unfairly using Android to cement the tech giant’s dominance in the market.

Tesla cancels production of S Plaid +

UNITED STATES, WASHINGTON (EDUFINTECH) – Tesla Inc has canceled production of the S Plaid + electric vehicle model, CEO Elon Musk tweeted on Sunday.

“(Production) Plaid + has been canceled. There is no need for it, the Plaid model is already very good,” Musk wrote.

The S Plaid +, which could be Tesla’s flagship model with a range of 837 kilometers, was unveiled at Battery Week last year when Musk said it would use a new generation of 4680-cell batteries. But production has been pushed back for 2022.

According to the company’s website, the Model S Plaid can accelerate to 96.5 kilometers per hour in 1.99 seconds and has a top speed of 322 kilometers per hour, with an approximate range of 628 kilometers.

GM resumes operation of 5 factories closed due to shortage of semiconductors

UNITED STATES, WASHINGTON (EDUFINTECH) – American automaker General Motors Co. is reopening five assembly plants it has been forced to close in recent months due to a global semiconductor shortage, Bloomberg reported, citing a company statement.

In the coming weeks, GM, in particular, will return two plants in Mexico, one in the United States, one in Canada and another in South Korea.

“GM continues to use every semiconductor at its disposal to manufacture and ship our most popular and sought-after products to customers, including full-size trucks and SUVs,” spokesman David Barnes wrote in an email. unstable.”

Restoring production at the factories gives GM a more stable position amid the problems facing the auto industry due to shortages of semiconductor components, Bloomberg said.

The automaker previously said it expects to meet its profit targets for this year. Meanwhile, rival Ford Motor Co. expects the semiconductor shortage to cut its annual profit by about $ 2 billion.

Lenovo’s 4Q profit jumped 512%

UNITED STATES, WASHINGTON (EDUFINTECH) – The world’s largest personal computer maker Lenovo Group on Thursday reported a 512 percent jump in quarterly profit thanks to growing demand amid an increase in the number of people working and studying remotely.

Profit for the fourth quarter ended March 31 jumped to $ 260 million, beating Refinitiv’s average analyst estimate of $ 204.7 million.

Revenue rose 48% to $ 15.63 billion from $ 10.58 billion a year earlier. Analysts had expected growth to $ 14.33 billion.

Lenovo’s board of directors has recommended a final dividend for the year of HK 24 per share. A year earlier, the company paid 21.5 cents per share.