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Netflix profits surge 45% off higher subscription prices
Netflix reported stronger than expected second-quarter results Thursday, with profit jumping 45 percent year-over-year as the streaming giant benefited from subscription price increases and a growing advertising business. Netflix shares have surged approximately 40 percent year-to-date as investors have responded positively to the company's shift toward profitability.
US authorizes Juul to market vaping products
Juul Labs said Thursday that the US Food and Drug Administration had officially authorized the e-cigarette maker to market its vaping system and refill capsules in the United States. The FDA's action on Thursday "confirms that these products are now authorized to remain on the market," said a Juul spokesman. elm-jmb/sst
Zuckerberg settles lawsuit over Cambridge Analytica scandal
Meta chief Mark Zuckerberg and other company board members settled a shareholder lawsuit on Thursday concerning decisions made in the wake of the Cambridge Analytica privacy scandal. The shareholders in the lawsuit alleged that the board members conspired to pay more to the US government in exchange for ensuring that Zuckerberg would not be named personally for wrongdoing in the settlement.
TikTok Germany moderators raise alarm over layoff plans
Content moderators at the German branch of social media giant TikTok sounded the alarm Thursday about what they say is a plan to replace them with artificial intelligence, potentially putting platform users at risk.
EU readies retaliatory list targeting US services
The EU executive is preparing a list of proposed restrictions on US services companies -- including tech giants -- should Brussels fail to strike a trade deal with Washington, European diplomats said on Thursday.
South Africa warns global turmoil threaten development goals
G20 chair South Africa warned Thursday that abandoning the rules-based global order and declining cooperation could derail 2030 development goals to end hunger, eradicate extreme poverty and fight climate change.
Novartis first half net profits up 29 percent
Swiss pharmaceuticals giant Novartis posted Thursday a 29 percent increase in first-half net income, at $7.6 billion -- and unveiled its new chief financial officer. The Basel-based firm's net sales increased 12 percent to nearly $27.3 billion between January and June, it said in a statement.
Swatch profits plunge on weak China sales
Swatch Group said Thursday that weak sales in China wiped out growth elsewhere in the first half of the year for the world's top watch company, leaving it barely profitable. Besides its eponymous Swatch watches, the company owns high-end brands such as Omega, Longines and Tissot, and like other luxury firms the demand of Chinese consumers for Western goods has made it a top market.
EasyJet boss hits out over French air traffic walkouts
The boss of British no-frills airline EasyJet on Thursday bemoaned "unacceptable challenges" for staff and passengers resulting from strike action by air traffic controllers in France earlier this month. Strikes by French air traffic controllers in early July brought chaos to European skies, with flights for hundreds of thousands of people cancelled as the summer holiday season gathered pace.
AFP
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