Apple becomes the first US company to reach $3.1 trillion

Apple has been named the highest grossing tech company after it reached a $3 trillion market capitalisation. Market capitalisation refers to the market value of a company’s share price. This is calculated by multiplying the total number of the company’s shares by the current market price. Apple’s share price is an estimated $183 and investors are excited for the continuous growth of the tech giant as it may expand into new markets such as virtual reality.

Evergrande liquidity crisis

The real estate company has decided to move out of the Schengen head office with the hope of decreasing their costs. The reason to cut costs is the result of their failure to repay $300bn worth of liabilities. In an attempt to generate more revenue and pay off the debt, Evergrande is attempting to sell its shares and assets. The company’s shares have already reduced by 90% in value and there are growing concerns that they may not be able to reclaim their money.

PM responds to claims of a lockdown party

The UK’s Prime Minister has given an apology after admitting that he held a party at No. 10 Downing Street during the first lockdown. Although he apologised for breaching covid rules, he has also claimed that it was a work event. During the meeting held in the House of Commons, he provided a statement acknowledging his mistake, stating, “I want to apologise. I know that millions of people across this country have made extraordinary sacrifices over the last 18 months”.

However, this still raises some unanswered questions, such as why did 30-40 people need to attend a work meeting during strict regulations?

France fines Google over data protection breach

One of the most used search engines, Google, has been hit with a €150m fine after users have not been able to refuse cookies. Cookies are small pieces of data that are used to identify a user’s computer when connected to a network. When a user accepts, this allows the server to provide information specific to that person. Many sites allow the option to decline this request, but Google’s systems have allegedly forced users to accept. The tech giant now has 3 months to pay the fine or they may face a penalty payment of €100,000 per day up until they rectify the breach. Similarly, Meta formally known as Facebook, had also faced the same issue and were ordered to pay a sum of €60m.

By Rukiyya Shah