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...When pressed on the issue, asset managers in the US now emphasise that they are service providers....
...elaine.moore@ft.com...
...As you might expect, app-based services are already popular here in San Francisco....
...High-margin services revenues have bolstered net income even as slowing smartphone sales drag on growth. This is the model that regulators have put in peril. elaine.moore@ft.com...
...The outflows started in 2022 after West Virginia state treasurer Riley Moore included BlackRock on the nation’s first list of financial firms deemed to boycott fossil fuel companies....
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...On the plus side, Apple’s net income margin has remained high thanks to growth in services such as streaming and payments....
...Tim Moore, economics director at S&P Global Market Intelligence, which compiles the survey, said: “Although only modest and slower than indicated by the earlier ‘flash’ PMI reading, the downturn in UK service...
...Listen to Lex deputy editor Elaine Moore talk to creators, companies and critics about the next era of social media in the FT’s new Tech Tonic podcast series....
...We believe it’s both, but see the biggest value driver from here being software and services revenue....
...Best that Chriss seeks targets in financial services, not social media....
...Enjoy the rest of your week, Elaine Moore Deputy head of Lex Lexfeedback@ft.com...
...As its shareholders grow weary of subsidising online services, prices are rising....
...“Microsoft’s pricing power will jump once it has AI embedded in its services,” said Zino....
...Twitter has taken legal action to prevent a potentially damaging loss of the source code that underpins its service, after parts of the code and other software were posted online....
...I think a lot of people were anticipating a V-shaped recovery . . . People are now waking up the realisation that volatility is going to be normal going forward.”...
...Waymo is planning to expand its robotaxi service to Los Angeles and Cruise hopes to get regulatory approval for robotaxis without pedals or steering wheels. It has been a slow and expensive road....
...We believe these are the customers that will pay for the more expensive technology as the progress of Moore’s Law slows....
...Republican state attorneys-general in the US have taken aim at corporate proxy advisers, challenging Institutional Shareholder Services and Glass Lewis over their recommendations tied to climate and social...
...The Wall Street Journal reports that YouTube is working on a similar channel for multiple streaming services....
...Email me your thoughts at sid.v@ft.com. Latest news Amy Kazmin in Rome has a fascinating piece on why Giorgia Meloni is pushing back on Italy’s shift to digital payments....
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