#7. One step closer to drone delivery
Good news for UPS’s drone ambitions this week. The delivery service got the federal government’s first full approval to operate a fleet of drones, CNBC reports. It’s the first time the Federal Aviation Administration has given such broad approval and as such, it marks a milestone in the race for commercial drone delivery.
#6. Samsung stops Chinese smartphone production
On Thursday, Korean hardware giant Samsung confirmed that it has stopped its handset production in China, TechCrunch reports. The news comes as the company continues to struggle to maintain its market share in the world’s biggest smartphone market. Samsung will still keep selling phones in China though.
#5. H&M’s profit rise
The world's second-biggest fashion retailer announced its first quarterly rise in pretax profit in over two years on Thursday, Reuters reports. This is H&M’s first increase since the second quarter of 2017.
The company says its efforts to meet rapid changes in the industry are on track and that its sales in September grew 8% in local currencies, according to the same Reuters article.
#4. Uber Works
On Friday, ride-hailing (and food delivery) company Uber is launching a new app in Chicago that matches temporary workers looking for shift work with businesses looking to fill gaps in their rosters, the Financial Times reports.
The new business will be called Uber Works and the platform is designed to help blue-collar workers such as clerks and chefs, according to the same FT article. Ultimately Uber wants its app to become ‘a one-click gateway to everything that Uber can offer.’
#3. Google’s cloud business
Analysts from Deutsche Bank say that Google’s Alphabet Inc. cloud business alone is now worth almost twice the market value of IBM Corp, Bloomberg reports.
The analysts value it at $225 billion saying that the unit could report a compound annual growth of 55% between 2018 and 2022 and reach an annual sales of $38 billion by 2025, according to the same Bloomberg article.
#2. Britain’s net-zero carbon goal
The UK government has set a legally binding target to reach net-zero carbon emissions by 2050, the New York Times reports. As a consequence, the country is quickly abandoning coal in favor of sustainable sources such as wind, energy, and gas.
The new net-zero target will require a much bigger shift, however, one that changes everything for the way Britons heat their homes to how they get to work and what food they eat, according to the same NYT article.
#1. Brexit: episode 89
A new month, the same old Brexit story. The latest proposals by the UK, including arrangements for the border between EU member Ireland and the UK province of Northern Ireland, aren’t likely to lead to a deal anytime soon, Reuters reports.
More talks a planned on Friday and a make-or-break Brexit summit is scheduled for October 17 and 18 in Brussels.
Story to be continued…
Well, there you have it, the 40th week of 2019 captured in 7 Tweets. As always, we’ll continue to track Twitter and bring you the top financial micro-messages from the web. See you back here next week.