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As competition for digital advertising heats up, Instagram is unveiling new features to prove how often its app drives sales. Once known for its pretty filters, the photo app expanded significantly, allowing its 300 million active users connect with 8 million businesses.
Alphabet, Google’s parent company, reported its second quarterly results, posting both higher revenue and profits than expected. Even with massive EU fine, Google keeps minting money.
Growing demand for its exchange traded funds helped BlackRock pull in $104bn of new client money in the second quarter, taking the pool of cash run by the world’s largest asset manager to a total of $5.68tn. The company’s second-quarter earnings had risen 9 percent as investors continued to pour money into the company’s expanding fleet of exchange traded funds.
While innovation flows freely in every industry, from time to time the media latches onto a particular tech wave or flavour. Flavours of the week have gone by with the seasons, from FinTech to LegalTech. But one of the most lucrative and untapped markets is in what we put into our stomachs: FoodTech.
Online retail giant Amazon is buying Whole Foods (WFM) in a $13.7 billion deal that marks its biggest push into traditional retailing yet. Amazon, which has long eyed the grocery business, will buy the upmarket supermarket for $42 a share.
After eclipsing General Motors (GM) to become the most valuable car company in the US, Tesla is ready to strike while the iron is hot by announcing the future release of convertible sport cars and electric trucks. The new vehicles will be launched within two years. The company expects to deliver 47,000 to 50,000 Model S and Model X vehicles combined in the first half of 2017. But Tesla still has some way to go to becoming the world’s biggest carmaker. The Japanese carmaker Toyota is currently leading the race with a stock market value of over $170bn.