Alphabet Inc (GOOGL) and Facebook Inc (FB) were up 1.30% and 0.81% in Friday. In order to limit the misuse by Google and Facebook of their positions considered dominant in the online advertisement industry, the UK competition authority has unveiled new regulations that will take effect next year.
According to the Financial Times, Facebook may also introduce its Libra digital currency in January, citing individuals involved in the initiative. It will be a ‘coin’ backed at equivalency to USD and then other currencies. An individual involved in the Novi, a subsidiary of Facebook, which works on the digital portfolio of Libra, believes that Libra is ready as a product already, but will need licenses.
Uber Technologies Inc. (UBER) fell 0.16% while Spotify Technology S.A. (SPOT) rose 2.79 percent on Friday. The companies as well as other Libra consortium members are planning to observe the public’s reception before deciding to use it.
Apple Inc (AAPL) has returned to a market capitalization of $2 trillion on Friday concluding the week with a bit rise of 0.48 percent.
Salesforce.com Inc (CRM) rose 0.33% as the software application firm started researching the Slack’s profile when it went public last year, reported the Financial Times. The firm then decided that in the light of the difficulties, the Slack stock was unfairly priced. The Wall Street Journal reports that after struggling in its attempt to gain Slack, Microsoft launched Teams.
Technologies Inc. (WORK) slipped -0.07% on Friday after soaring 37.6% on
Wednesday after the Wall Street Journal announced that talks were underway for
the acquisition of Salesforce’s collaborative work specialist. The market
capitalization of Slack is $23 billion, while that of Salesforce (which has
recently entered the Dow Jones Index) is $227 billion. Investors believe the
deal could start a wave of tech industry mergers and acquisitions.