This archive report was first published on 14 July 2021.
On July 13, 2021, the French Antitrust Agency fined tech giant Google €500 million for failing to reach a deal with publishers on using their content on the platform.
According to the agency's President Isabelle de Silva, the €500 million sanction 'takes into account the exceptional seriousness of the breaches observed and what Google's behavior has led to further delay the proper application of the law.'
Meanwhile, in the US, major corporations reported their Q2 earnings, with mixed results.
JP Morgan Chase & Co. reported a 7% decrease in revenue to $31.4 billion, but a 154.9% increase in net income to $11.9 billion compared to the same period in 2020.
CEO Jamie Dimon commented, 'This quarter we once again benefited from a significant reserve release as the environment continues to improve, but as we have said before, we do not consider these core or recurring profits.'
PepsiCo reported a 20.5% increase in net revenue to $19.22 billion, with CEO Ramon Laguarta stating, 'We are pleased with our second quarter results as we delivered very strong double-digit net revenue and earnings per share growth.'
Shares of PepsiCo gained more than 2% on the news, reaching a record high.
Goldman Sachs Group reported a 16% increase in revenue to $15.39 billion, with CEO David Solomon stating, 'Our second quarter performance and record revenues for the first half of the year demonstrate the strength of our client franchise and our continued progress on our strategic priorities.'
United Airlines also made headlines, agreeing to conditionally purchase 100 ES-19 electric planes from Heart Aerospace as part of its plan to cut greenhouse gas emissions 100% by 2050.
