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Three Big Tech heavyweights reported fourth-quarter results. Alphabet missed on earnings and revenue, Apple saw its biggest quarterly revenue drop since 2016, and Amazon beat analyst expectations but provided a weak first-quarter forecast.
The EU and UK hiked interest rates. The ECB and BoE raised key rates by 50 basis points, with the former indicating future increases and the latter suggesting rates may soon peak. The BoE also forecasted a “shallower” recession than previously projected.
Shell reported the highest profit in its 115-year history. The British oil and gas giant raked in $39.9 billion (£32 billion) in 2022. Meanwhile, over 13,000 Nigerians sued Shell in a London high court over its impact on the environment and their livelihoods.
Z Holdings is merging with Yahoo Japan and Line. Softbank’s internet arm is reorganizing its subsidiaries as it seeks to compete with other tech giants including Rakuten and TikTok.
Honda is beginning production of its hydrogen fuel cell system. Jointly developed with GM, the Japanese carmaker said it aims to sell 2,000 hydrogen-powered cars and other vehicles each year by the mid-2020s.
What to watch for
A record 14 candidates are vying to become president of Cyprus. Incumbent president Nicos Anastasiades, who has led the country through a recovery following its bailout a decade ago, won’t be running again, but his presence looms large over the vote.
Key candidates include Nikos Christodoulides, who served in Anastasiades’s government before running as an independent backed by centrist parties. Anastasiades’s conservative ruling party is fielding its chief Averof Neofytou. The main opposition party is backing Andreas Mavroyiannis, a diplomat who headed the Cyprus peace talks under Anastasiades.
The 560,000-odd registered voters will head to the polls on Feb. 5. If no candidate wins 50% of the vote, which is likely, the top two will compete in a runoff vote a week later. The new president will immediately be under the scrutiny of credit agencies, looking to the next government to see whether their cautiously positive outlook for the country is justified. No pressure!
Elon Musk killed the good bots
Sure, no one likes persistent trolls and politically meddling bots. But what about earthquake alerts and serendipitous art?
Those types of Twitter bots may soon be defunct after the social media company ends its free programmatic access. Like most social media businesses, Twitter has long offered an API, which allows outside developers to write programs that use its platform. It’s how third-party apps like Hootsuite and tools like ThreadReader are able to operate, and how automated accounts function.
While unpaid access comes with limits and high-volume users are already charged, now anyone who wants to use the API will have to pay. The move is another attempt to increase Twitter’s revenue. However, it could ultimately have just the opposite effect, especially if it diminishes user experience.
Australia’s $5 bill bids adieu to the monarchy
If King Charles III had a 2023 bingo card with a square reading “become the next face of Australia’s $5 bill,” he’s fresh out of luck.
The Land Down Under decided the replacement for the late Queen Elizabeth II won’t be anyone from the British monarchy, even though it’s technically Australia’s head of state. Instead, the new banknote will honor Aboriginal peoples who have inhabited the territory for over 50,000 years. Hopefully it won’t take that many years for the new design to enter circulation.
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