Amazon not impressed. Amazon.com will officially contest the award of the Pentagon's $10 billion cloud computing contract to Microsoft. "Many aspects of the contract evaluation process had obvious deficiencies, errors and unequivocal prejudices," says the unfortunate candidate. The contract, called JEDI (Joint Enterprise Defense Infrastructure), runs for ten years and aims to modernize the American defense IT infrastructure.
Android in the spotlight. The antitrust investigation against Google should be extended to the Android operating system, CNBC learned. The investigation opened in September in most states concerns California's alleged anti-competitive practices. With a market share of around 80% of the global smartphone operating system market, Android holds a dominant position. In the United States, however, it is less hegemonic because of the strong position of the iPhone and its iOS system: the two companies share the market, with a slight advantage for Google and Alphabet.
ArcelorMittal consolidated in India. The Indian court ruled in ArcelorMittal's favor with a view to acquiring Essar Steel's assets. The Supreme Court overturned a decision blocking the operation. For the group, the transaction still needs to be completed in an administrative and regulatory context that remains as complex as ever in India. Meanwhile, Italy is challenging in court the group's withdrawal from the Ilva takeover.
Eurazeo will exit Europcar. Eurazeo has confirmed that it intends to sell the balance of its shares in Europcar, or only part of it. A decision that comes at a time when the stock has collapsed this year, losing more than 50% of its value since January 1. Despite a recent rebound to EUR 3.50, it remains far below IPO levels in 2015, at EUR 12.25 for individuals.
The EIB verifies its positions. The European Investment Bank will stop financing fossil energy projects, including gas, in 2022, a "historic turning point" for Cécile Marchand, Climate Campaigner and Public Actors at Friends of the Earth. "We will stop financing fossil fuels and launch the most ambitious climate investment strategy of any public financial institution in the world," said EIB President Werner Hoyer.
Marriage of reason? Saipem is looking into a merger with its competitor Subsea 7, Bloomberg learned. The Italian is worth the equivalent of $4.8 billion on the stock market, and the Norwegian $3.2 billion. Consolidation in the oil services sector is a recurring topic in the industry.
VW is moving up a gear. Volkswagen, which has not been very successful in the environmental approach in recent years, will invest 40% more than expected in the development of hybrid and electric vehicles and new technologies, or €60 billion by 2024.
Pornhub devastated. PayPal no longer wants to act as an intermediary for Pornhub to pay its actors. Representatives of the Canadian porn video site claim to be "devastated" because they pay their 100,000 "models" in this way. "After a review, we discovered that Pornhub was processing some professional payments via PayPal, without asking our permission," explained PayPal. Pornhub offers its contributors the possibility to choose another payment method, either by bank transfer, cheque or crypto...!
In other news. Former executives of Under Armour, which is subject to a federal investigation into its accounts, said they were anticipating sales for subsequent periods to achieve aggressive growth targets. Nvidia is dropping slightly after its quarterly results but is reassuring, while Applied Materials has seduced, boding well for the semiconductor sector. Walmart continued to grow in the third quarter, with further market share gains. Alibaba today launched its initial public offering on the Hong Kong Stock Exchange, five years after its IPO in New York, to raise $13.8 billion.