Microsoft has announced a $60 billion stock-buyback program and a 10% increase in quarterly dividends, surprising Wall Street and narrowing the gap between itself and Apple, the world’s largest company. Meanwhile, Apple’s shares have fallen amid concerns of weak demand for its new iPhone 16. Analyst reports have revealed lower pre-order sales for the iPhone 16 compared to the previous model, with some attributing this to the gradual rollout of AI features on the phone.
In other news, Amazon has mandated a return to the office five days a week starting next year, citing the benefits of in-person collaboration and connection between teams. Additionally, Kingfisher has reported weak demand for big-ticket items, impacting its sales in the UK and France.
On the financial markets front, stocks have opened higher across Europe as investors anticipate a potential cut to US interest rates. However, concerns remain over the impact of the Brexit trade deal on UK-EU goods trade, with significant declines in exports and imports to and from the EU.
Overall, it’s a mixed morning in the business world, with tech companies like Microsoft and Apple facing contrasting fortunes, and the impact of global economic factors continuing to influence market dynamics.
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