FT News Briefing Friday, January 31
Jan 31, 2020
IBM is undergoing a leadership change as Arvind Krishna steps in as CEO, highlighting the company's shift towards cloud computing. Meanwhile, Amazon celebrates a record holiday season thanks to their one-day shipping services. The World Health Organization has declared an international health emergency due to the coronavirus outbreak. As the UK heads towards Brexit, the population finds itself divided between feelings of vindication and sadness about leaving the EU.
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IBM Leadership Change
- IBM CEO Ginni Rometty is stepping down after eight years, replaced by Arvind Krishna, head of IBM's cloud business.
- Rometty's tenure saw a 25% drop in IBM's share price, reflecting her struggles to adapt to the cloud era.
Amazon's Prime Success
- Amazon's investment in one-day Prime shipping paid off, boosting holiday sales by 21% to $87.5 billion.
- This success was driven by quadrupled Prime deliveries and strong performance from Amazon Web Services.
Coronavirus Emergency
- The World Health Organization declared the coronavirus outbreak an international emergency, with cases nearing 10,000.
- While they advise against unnecessary travel restrictions, the outbreak is impacting global markets and businesses.