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Microsoft Addresses EU Antitrust Concerns
In an attempt to forestall antitrust charges in the EU, Microsoft [MSFT] is to split off its Teams video-conferencing app from the Microsoft 365 software bundle, effective 1 October. The bloc’s ongoing investigation into Microsoft began in July, prompted by the fact that the company did not give customers the choice of whether to include Teams when they bought the bundle, and furthermore “may have limited the interoperability between its productivity suites and competing offerings”.
3D Systems Soars on Apple News
3D printing firm 3D Systems [DDD] saw its share price gain as much as 10% on news that Apple [AAPL] is reportedly trialling the use of 3D printers in the production of its upcoming line of smartwatches — a radical departure from its manufacturing approach to date. If it proves a success, this trial could spark a significant shift in Apple’s production processes, reducing the quantity of raw materials needed, and streamlining its supply chains.
UBS’ Record-breaking Profit
UBS [UBS] logged an eyewatering $29bn profit last quarter, after it swallowed up Credit Suisse in March. The total is the largest-ever quarterly haul by a major developed world bank, according to FactSet, with the second place held by JPMorgan Chase’s [JPM] $14.5bn last quarter. UBS also saw strong client inflows at $28bn, suggesting that the deal had not deterred the global elite.
Amazon and Shopify Strike Deal
Amazon [AMZN] and Shopify [SHOP] have put their differences behind them and come up with an agreement whereby Shopify merchants will be able to access Amazon’s logistics network, via the e-commerce giant’s Buy with Prime function. Previously, Shopify had told its merchant clients that Buy with Prime violated its terms of service. Launched on Wednesday for invited Shopify merchants, the programme will be available to all sellers by the end of September.
Investigations Underway on Tesla’s Secret ‘Project 42’
Federal prosecutors are investigating Tesla’s [TSLA] use of company funds on a secret project, known as Project 42, which was described internally as a house for CEO Elon Musk in Austin, Texas. The US Securities and Exchange Commission has also opened a civil investigation into Project 42. The Wall Street Journal first reported in July that Tesla board members had looked into whether company resources were misused on the project.
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