Top 5 Business News of Last Week: A Comprehensive Roundup
As a business owner or professional, staying up-to-date with current events in the business world is essential to make informed decisions. Here’s a roundup of the top 5 business news of the last week.
1. Amazon’s Q2 Earnings Beat Expectations
Amazon, the world’s largest online retailer, reported a massive profit of $7.8 billion in its Q2 earning, up from $2.5 billion a year ago. The bulk of the profit came from Amazon Web Services (AWS), the company’s cloud computing and storage division that registered an operating income of $4.2 billion, up from $1.6 billion last year. The impressive performance of AWS was due to the increased demand for remote work and faster adoption of cloud computing technology by enterprises.
2. Google and Facebook Post Strong Q2 Results
Google parent company, Alphabet, reported $61.9 billion in revenue in Q2 2021, a 62% YoY increase, and a net income of $18.5 billion. The growth was driven by higher ad revenue across Google’s platforms and strong demand for digital advertising. Facebook, on the other hand, reported $29 billion in revenue in Q2, up by 56% YoY, also driven by higher ad revenue, especially from e-commerce and mobile-based technology.
3. Retail Giant Walmart Expands Drone Delivery Services
Walmart announced that it has expanded its drone delivery service in select markets in Arkansas, allowing customers to receive their orders via drones. The service is being piloted in partnership with drone services provider, Zipline, and is expected to be a viable option for rapid delivery of healthcare supplies, essentials, and groceries to underserved areas.
4. Apple to Introduce New iPhones with Satellite Connectivity
Apple is reportedly planning to launch the new iPhone 13 series with satellite connectivity for emergencies, allowing users to make calls and send texts in areas without cellular coverage. The feature will use low-orbit satellite technology and is expected to be available to users at no additional cost.
5. Bitcoin Falls Below $40,000 amid Regulatory Fears
Bitcoin, the world’s largest cryptocurrency, fell below $40,000 last week after China tightened its crackdown on cryptocurrency mining and trading. The Chinese government’s regulatory actions are expected to impact the industry’s growth in Asia, but many analysts believe that the crypto market will eventually recover as institutional adoption picks up in other regions.
In Conclusion
Keeping abreast of business news is vital to stay informed and make sound decisions. The above stories reflect the current landscape of the business world and its rapid developments. As the world continues to adapt to the new normal, professionals must stay alert and agile to change.
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