MM052: Why Facebook is the worst earnings report we've ever seen!
In this episode, Piers and I delve into some of the important new stories this week from mega-cap tech earnings to central bank decisions and even a quick word on the incredible Rafael Nadal!First up for debate is Meta (Facebook) whose shares collapsed following their latest earnings report. The reaction was compounded by a number of factors, not just the top-line figures. We discuss user figures, platform, regulatory threats, expenses, increasing competition, and what the future holds for the once-dominant social network company.Alphabet (Google) and Amazon also released their latest numbers this week which were met with a much more favourable reaction on Wall Street. We explain the mechanics and rationale behind Google's 20-for-1 stock split and question whether Amazon's initial positive reaction is the correct one.Finally, we talk about the Bank of England, which executed its first back-to-back increase in interest rates since 2004. More importantly, we examine the breakdown of the Monetary Policy Committee (MPC) where four members actually opted for a more aggressive 50bps increase to the base rate. What were they thinking, why are they worried and what does this mean for the UK consumer and the broader marketplace.Sign up for our daily Market Maker newsletter at https://bit.ly/3AV7MSS Hosted on Acast. See acast.com/privacy for more information.