The UK’s competition watchdog will take a deep dive look into Apple and Google’s dominance of the mobile ecosystem, it said today — announcing a market study which will examine the pair’s respective smartphone platforms (iOS and Android); their app stores (App Store and Play Store); and web browsers (Safari and Chrome).  The Competition and Markets Authority (CMA) is concerned that the mobile platform giants’ “effective duopoly” in those areas  might be harming… Source link

Inflation has hit the highest level since 2008, when gas prices exceeded $4 per gallon. Overall prices are up 4.9% during the last 12 months, with the biggest jumps in pandemic-affected parts of the economy. A shortage of semiconductors needed for new cars has pushed used-car prices up 30%. Transportation costs, driven by rising airfares, are up 20%, with volatile gas prices up 56%. Surging demand for real estate has pushed home prices up 13%, with many buyers shut out completely. Consumers… Source link

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With the S&P 500 breaking out to new highs, Southern Copper (SCCO), Westlake Chemical Corporation (WLK), and Vera Bradley (VRA) are 3 upgraded stocks that investors should consider buying. The POWR Ratings have been calculated, pinpointing the latest stocks worthy of Strong Buy and Strong Sell ratings as well as ratings in between these extremes. A-rated stocks have posted an average annual performance over 30%, and B-rated stocks have an average annual return of over 19%.&nbsp Thus, investors… Source link

By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales dropped more than expected in May, with spending rotating back to services from goods as vaccinations allow Americans to travel and engage in other activities that had been restricted by the COVID-19 pandemic. Despite last month’s decline reported by the Commerce Department on Tuesday, the trend in retail sales remains strong. Sales in April were revised sharply up and are well above their pre-pandemic level, keeping intact… Source link

Stock futures were mixed Tuesday morning investors considered a spate of new economic data, including a weaker-than-expected print on consumer spending during the recovery.  Contracts on the S&P 500 and Nasdaq rose, while contracts the Dow fluctuated between gains and losses. Investors considered another batch of key economic data out Tuesday morning, offering looks at both the strength of the consumer and extent of price increases across the supply chain.  The Commerce Department’s May… Source link

NEW YORK (AP) — “Gone Girl” actor Lisa Banes died 10 days after being injured by a hit-and-run driver in New York City, police said. The 65-year-old Banes, who was struck by a scooter or motorcycle while crossing a street on June 4, died Monday at Mount Sinai Morningside Hospital, a police department spokesperson said. The driver did not stop, police said. Banes appeared in numerous television shows and movies, including “Gone Girl” in 2014 and “Cocktail” with Tom Cruise in… Source link

(Photo by ALAIN JOCARD / AFP) AFP via Getty Images That Google is the dominant force in web and mobile search won’t surprise you. What might, though, is that roughly two thirds of the searches on Google never leave the search results page. That is, the searchers get what they are looking for without leaving Google. These are called “no-click” or “zero-click” searches. The percentages vary a bit depending on device, geography, and the precise definition of… Source link

Fund managers aren’t sold that bitcoin (BTC-USD) is a screaming buy after the cryptocurrency’s rout.  Eighty-one percent of fund managers polled in a new Bank of America survey say bitcoin is still a bubble despite the steep price pullback. Investors view bitcoin as the second most crowded traded (investors love bitcoin perhaps too much) behind being long commodities.  A total of 224 fund managers with $667 billion in assets under management participated in the survey. To be sure, bitcoin… Source link

UK’s competition watchdog said on Tuesday it was looking into the mobile ecosystems of Apple (AAPL.O) and Alphabet’s Google (GOOGL.O), launching a study over concerns that the tech giants have market power that is harming users and businesses. Our Standards: The Thomson Reuters Trust Principles. Source link