Morning Beat: Yahoo! Inc. (YHOO), Amazon.com, Inc. (AMZN), and Apple Inc. (AAPL)
Warren Buffett is the latest high-profile investor to show interest in Yahoo! Inc. (NASDAQ:YHOO)’s assets up for sale. Reuters reports that the Billionaire investor is backing a consortium led by Quicken Loans Inc founder, Dan Gilbert, interested in the tech giant’s internet portfolio.
The consortium has already tabled its bid, as the second round of bidding gets underway. According to reports, Buffett is helping finance the offer tabled by the consortium. If successful in acquiring the Yahoo! Inc. (NASDAQ:YHOO) assets, this will be, the first time that the Berkshire Chairman has added to his portfolio a digital media asset.
Amazon.com, Inc. (NASDAQ:AMZN) is expanding deeper into private label brands as it looks to attract more sales in niche markets with higher profit margins. Some of the brands rumored to be on their way to the company’s e-commerce site include Happy Belly, Wickedly Prime, and Mama Bear. The company is also planning to offer perishable goods as part of the new push.
The e-commerce giant has been in talks with a number of private label lines for years as it continues to look for ways for expanding its e-commerce empire. Offering private label products could help the retailer save costs on marketing and brand development given that these products boast of higher profit margins.
Apple Inc. (NASDAQ:AAPL) CEO, Tim Cook, is on a maiden tour to China at a time when the tech giant is facing an unprecedented future, amidst a flurry of problems. The executive is to meet high-ranking government officials as he seeks to mend relationships on the regulatory front.
Cook’s visit comes at a time when Apple Inc. (NASDAQ:AAPL) is struggling with slowing iPhone sales. The blocking of iTunes Moves and iBook store has rattled the tech giant forcing the immediate response. His visit also comes just days after the tech giant confirmed a $1 billion investment in ride sharing service Didi as part of an effort that seeks to diversify the company’s business empire.
Alphabet Inc (NASDAQ:GOOGL) is staring at a record $3.4 billion fine over claims it continues to abuse its dominant online search position in Europe. According to media reports, the European Commission is planning to hand the search giant the massive fine, as early as next month.
The antitrust agency could fine the search giant up to 10% of its annual sales generated in the region making it the biggest ever-imposed fine. The settlement will also require Alphabet Inc (NASDAQ:GOOGL) to change how it manipulates search results that harm rivals.
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