Overview of TOP weekly news 20.10. 2021

20 / 10 / 2021
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Alibaba will open new data centers

The company decided to expand its cloud business and open its first data centers in South Korea and Thailand. With this move, Alibaba wants to expand its business internationally, competing with Amazon and Microsoft. Other traces of the company are heading to other areas of Asia, including Singapore, the Philippines and Indonesia. Chinese giant Alibaba has also introduced a new server chip called the Yitian 710. The goal is to power artificial intelligence applications in the Alibaba cloud.

Alibaba’s performance over 5 years. (Source: Investing.com)*

Oil is heading for highs

As a result of the rapidly recovering economy following the pandemic, demand for oil is rising at a rapid pace. Electricity producers are turning away from gas and coal, moving towards oil and diesel heating. The easing of restrictions is still helping to restore fuel consumption, and the aviation fuel market has also awakened. The transition to oil production could increase demand by up to 450,000 barrels per day in the fourth quarter. [1]

Wage increases in Britain

The consequences of Brexit began to manifest themselves in full force. Lack of manpower is forcing companies in Britain to raise wages. Amazon currently offers bonuses of up to £ 3,000 ($ 4,140) until the holiday season. The position of warehouseman in Amazon includes a £ 3,000 start-up bonus, while working in London with the company offers a signing bonus of £ 2,000. The entire industry is suffering from labor shortages, and Amazon is trying to attract new employees in such an aggressive way.

 

Netflix has improved its position again

Netflix improved its profits in the third quarter. The number of subscribers increased more than expected, with net income up 80 percent year-over-year to $ 1.45 billion. Recently, the customers were attracted by the series The Squid game, which brought enormous interest and profit to the streaming platform. Revenue rose 16 percent over year to $ 7.5 billion.

Watch this week:

  • On Thursday, we can watch EU Leaders Summit.
  • On Friday, will be published The German Manufacturing Purchasing Managers’ Index (PMI) which measures the activity level of purchasing managers in the manufacturing sector.

* Past performance is no guarantee of future results

 

[1]  Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or based on the current economic environment which is subject to change. Such statements are not guarantees of future performance. They involve risks and other uncertainties which are difficult to predict. Results could differ materially from those expressed or implied in any forward-looking statements.

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