Overview of TOP weekly news
Big fine for Google
Regulator in France during Tuesday announced that Google should pay 593-million fine for failing to negotiate “in good faith” with media companies. Company’s failure is dedicated to the use of their content under EU copyright rules. The reason was that Google has been showing content as articles, pictures and videos created by media groups without right compensation. Companies APIG, SEPM, and AFP said, that Google did not negotiated with them „in good faith.“
PepsiCo released earnings
Company shocked industry. The producer of beverages publish that total revenue rose 20.5% from an year ago, mainly cause was strong double-digit sales gains in PepsiCo’s North America beverage, Latin America, EU and Africa businesses. After easing some covid restrictions is demand after drinks returned. Regarding to CFO Hugh Johnston, company during pandemic invested in the business, which are now paying dividends and mobility increased so consumers are getting out more.
PepsiCo’s performance over 5 years. (Source: Investing.com)
Apple will offer new service
Cooperation between Apple and Goldman Sachs started. They want to introduce together new service „buy now, pay later“. Announcement is the sign that Apple would like to offer additional financial services through its Wallet app. Partnerships with financial services firms will be necessary. Buy now pay later product allow consumers to buy an expensive products and allow them to pay for later. After Bloomberg reported this news, shares of competition started to fall, including companies Affirm and Afterpay.
Negative outlook for USA
According to Fitch ratings country got confirmed ‘AAA’ valuation but the Rating Outlook is negative. This prediction on the rating reflects ongoing risks to the public finances and debt trajectory, even with consideration the improvement in Fitch’s fiscal and debt projections from last review. Rating is influenced by the size of the economy, high per capita income and a dynamic business environment.
Watch this week:
On Thursday, will be published BOJ rate decision in Japan.
On Friday, EU Consumer Price index will be released.