US big tech companies report colossal earnings, US GDP down, companies cling to share buybacks

Facebook, Amazon, and Apple all reported stellar revenue increases in the latest quarter. The FT’s Richard Waters will explain what that means in the context of Wednesday’s US congressional big tech antitrust hearings. Then, FT US markets reporter Colby Smith will explain investor reaction to the worst contraction in the US economy in postwar history. Plus, corporate America is still clinging on to share buybacks despite the global recession.   Register for the Energy Source talk, “Profit and Power in the Energy Industry”  https://live.ft.com/Events/2020/Profit-and-Power-in-the-Energy-Industry?segmentId=b52e1504-1d03-48a4-76bc-38fb50ada64b&utm_us=JJYAAP Apple revenues defy expectations despite store closures https://www.ft.com/content/20d1ef26-2bf4-4900-85b2-08ef7c6d1ae1 US economy suffers sharpest postwar contraction in second quarter https://www.ft.com/content/3ff15dc7-be90-4676-8121-5a868016c4bb US companies cling to share buybacks despite collapse in profits ft.com/content/1c924be0-5bc0-4eba-a088-b98b13080c04?  

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