Technology

Business Highlights

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Google’s Q1 advert gross sales surge 32%, Alphabet revenue doubles

SAN RAMON, Calif. (AP) — Google’s digital promoting community has shifted again into excessive gear after an unprecedented reversal through the early phases of the pandemic. The strong first-quarter promoting progress introduced Tuesday supplies the newest signal that advertisers predict the financial system to roar again to life as extra individuals get vaccinated in opposition to COVID-19 and burst out of their pandemic cocoons. Google is now benefiting from that recovery. The company’s advert gross sales surged 32% from the identical time final year to almost $45 billion through the January-March interval. It’s the third consecutive quarter of accelerating advert progress for Google following an 8% decline throughout final year’s April-June interval.

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Biden indicators $15 minimal wage for federal contract employees

WASHINGTON (AP) — President Joe Biden has signed an govt order to extend the minimal wage to $15 an hour for federal contractors. Administration officers say the order supplies a pay bump to a whole bunch of 1000’s of these employees, together with nursing assistants and laborers. They say employees will turn into extra productive because of this, so the rise shouldn’t be expensive to taxpayers. The improve authorized underneath Tuesday’s govt order could possibly be dramatic for employees who earn the present minimal of $10.95 an hour. Those employees would obtain a 37% pay hike, although the rise can be rolled out regularly.

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Microsoft earnings soar as cloud demand continues in pandemic

REDMOND, Wash. (AP) — Microsoft’s earnings soared through the first three months of 2021, due to ongoing demand for its software and cloud computing providers through the pandemic. The company on Tuesday reported fiscal third-quarter revenue of $14.8 billion, up 38% from the identical interval final year. Net earnings of $1.95 per share beat Wall Street expectations. According to FactSet analysts have been anticipating Microsoft to earn $1.78 per share on income of $41 billion for the fiscal quarter ending in March. The software maker posted income of $41.7 billion within the January-March interval, up 19% from final year.

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Starbucks returns to gross sales progress in its fiscal Q2

SEATTLE (AP) — After 4 straight quarters of gross sales declines, Starbucks returned to progress within the January-March interval. The Seattle-based espresso big mentioned its gross sales rose 11% to $6.7 billion within the quarter. That was simply shy of Wall Street’s forecast, in line with analysts polled by FactSet. Starbucks mentioned its international same-store gross sales jumped 15%, their first improve in a year. In China, same-store gross sales rocketed up 91%, reflecting a recovery from retailer closures presently final year. While Starbucks noticed a 4% decline in retailer visits globally, those that visited spent extra on snacks and frothy drinks, the company mentioned.

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Stocks finish a wobbly day combined, S&P 500 nonetheless close to document

NEW YORK (AP) — Major U.S. stock indexes ended a wobbly day combined on Wall Street, conserving the S&P 500 close to the document excessive it set a day earlier. The benchmark index ended down lower than one level Tuesday and the Dow Jones Industrial Average closed principally unchanged. The Nasdaq fell 0.3%. It’s a heavy week for earnings reviews from large U.S. corporations. UPS soared after reporting one other surge in supply volumes. Investors will likely be anticipating information out of the Federal Reserve on Wednesday after its two-day meeting, in addition to President Joe Biden’s speech to a joint session of Congress.

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Toyota acquires Lyft’s self-driving unit for $550 million

TOKYO (AP) — Toyota Motor Corp. has acquired the self-driving division of American ride-hailing company Lyft for $550 million, in a transfer that highlights the Japanese automaker’s ambitions in that technology. The acquisition, introduced Tuesday, was carried out by Woven Planet Holdings, a Toyota subsidiary that started business in January and focuses on improvements and funding in initiatives akin to “smart cities,” robotics and automatic driving. The Woven Planet project will carry collectively a world crew of engineers and researchers in mobility providers, software and sensor property and automatic driving programs, in line with Toyota.

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Insurer Humana strikes deeper into residence care with $5.7B deal

NEW YORK (AP) — Humana is spending $5.7 billion to leap deeper into delivering care at residence, a development that took off through the pandemic and one the well being insurer expects will proceed to develop. The insurer mentioned Tuesday that it’ll purchase the remainder of Kindred at Home after initially buying a 40% stake within the care supplier a couple of years in the past. Kindred at Home sends nurses, bodily therapists and different care suppliers to sufferers who’re deemed homebound by docs. The company serves greater than a half million sufferers yearly. Humana expects the deal to shut within the third quarter.

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Visa 2Q earnings fall 2%, as financial slowdown hits funds

NEW YORK (AP) — Visa says fiscal second-quarter earnings fell 2% from a year earlier, because the company handled a slowdown throughout its fee community because of the international pandemic. The fee processing big mentioned it earned $3.03 billion in its fiscal second quarter, or $1.38 a share, down from $3.08 billion in the identical interval a year in the past. An absence of journey and a world slowdown of the financial system induced funds quantity to fall by 11% from a year earlier, the company mentioned.

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The S&P 500 lost 0.90 factors, or lower than 0.1%, to 4,186.72. The Dow Jones Industrial Average added 3.36 factors, or lower than 0.1%, to 33,984.93. The Nasdaq fell 48.56 factors, or 0.3%, to 14,090.22. The Russell 2000 index of smaller-company shares inched up 3.26 factors, or 0.1%, to 2,301.27.

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