Business and Tech News - 4.2.24

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Skool Projekt Staff
April 02, 2024

Microsoft To Unbundle Teams and Office Worldwide

Microsoft is separating its Teams application from the Office suite for global customers, a decision influenced by a European Union antitrust probe initiated by a complaint from Slack in 2020. This strategic unbundling, first implemented in the EU to enhance transparency and flexibility for multinational corporations, will now be adopted worldwide. The company has set the pricing for the standalone Teams offering at $5.25, while Office without Teams will start at $7.75.

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Truth Social Lost $58 Million in 2023

In 2023, Trump's social media venture faced a staggering $58 million loss against modest revenues of $4.1 million, yet achieved a valuation exceeding $7 billion post-IPO. The company saw a quarter-on-quarter revenue decline, falling to $751,000 in Q4 from a previous high of over $1 million, with income solely from Truth Social ads and significant debt interest expenses. This performance starkly contrasts with Twitter's financials, which reported $665 million revenue before its IPO and $5.2 billion prior to Elon Musk's acquisition.

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Google To Destroy Browsing Data

Google has agreed to a settlement requiring the deletion of billions of data records to resolve allegations of secretly tracking users in private browsing modes, with the agreement valued up to $7.8 billion pending court approval. Originating from a class action by users since June 2016, the lawsuit accused Google of privacy breaches even when users engaged "Incognito" mode. As part of the settlement terms, Google will enhance disclosures about data collection in private browsing and enable users to block third-party cookies, marking a significant move towards demanding transparency and accountability from tech giants.

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UPS Replaces Fedex as USPS Primary Air Cargo Provider

UPS steps in as the primary air cargo provider for USPS following FedEx's decision to conclude its decades-long partnership. The shift represents a strategic pivot for FedEx, impacting a modest portion of its revenue, while offering UPS an opportunity to bolster its operations amid financial challenges. This transition may lead to a significant business loss for FedEx, with the potential displacement of up to 300 pilots.

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Gold Prices Hit New High

Gold prices reached a new peak, spurred by anticipations of a U.S. interest rate cut and its status as a secure investment, with spot gold climbing to $2,235.59 per ounce and futures to $2,257.80. The prospect of the Federal Reserve reducing interest rates in June enhances gold's attractiveness, alongside significant international demand, especially from China, amid global economic instability. The trend of global central banks acquiring gold for portfolio diversification is fueled by geopolitical concerns and the weakening of the U.S. dollar.

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Disclaimer: This content is not intended as financial guidance. The purpose of this newsletter is purely educational, and it should not be interpreted as an encouragement to engage in buying, selling, or making any financial decisions regarding assets. Exercise caution and conduct your own research before making any investment choices.