FT News Briefing Friday, July 26
Jul 26, 2019
Google's advertising rebound drives impressive revenue growth, while Amazon faces challenges with rising shipping costs. The ongoing Brexit negotiations reveal tensions, with the EU's negotiator rejecting the UK's terms. The European Central Bank hints at rate cuts and new asset purchases to stimulate the economy. Insights into Latin America's economic struggles reveal a lack of medium-sized companies and governmental mistrust, contributing to its lower global growth contributions.
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Google's Advertising Rebound
- Google's Q2 advertising revenue rebounded, exceeding expectations with 22% growth.
- This strong performance nearly matches their growth from the end of last year.
Amazon's One-Day Shipping Impact
- Amazon's one-day shipping boosted Q2 revenue growth but increased costs significantly.
- Shipping costs rose 36%, exceeding their initial $800 million projection.
Johnson and EU Clash Over Brexit
- Boris Johnson's Brexit terms, rejecting the Irish backstop, were deemed "unacceptable" by EU negotiator Michel Barnier.
- This clash increases the risk of a no-deal Brexit.