Nokia Slashes Outlook as Profit Falls

Nokia’s profit tumbled 29% in the second quarter, squeezed by a weak U.S. dollar and tariffs. The Finnish 5G gear maker said currency devaluations and trade barriers will cut annual profits by up to €310 million. CEO Justin Hotard says Nokia will streamline operations to stay competitive, but its outlook for 2025 has been cut.

Slim’s América Móvil Eyes 5G Amid Currency Drag

Latin America’s telecom giant America Movil posted 7.3% service revenue growth, powered by broadband gains and a rebounding Mexican economy. But earnings were dented by currency losses and subscriber churn. The company is shifting users to postpaid plans and expanding 5G, even as regulatory changes pose new risks.

Vodafone Turns Corner in Germany, beats expectations

Vodafone beat profit estimates as it began reversing losses in its biggest market, Germany. Despite regulatory headwinds, mobile service revenues rose, with CEO Margherita Della Valle stressing a focus on “value over volume.” Vodafone shares are up 26% this year, and the company’s UK merger with Three is boosting its 5G ambitions.

BT Slows Broadband Losses, Eyes Big Cash Flow

BT is stemming its broadband losses faster than expected — Openreach shed just 169,000 customers last quarter, less than half analysts predicted, thanks to heavy investment in its fiber network, especially in rural areas.

This comes as CEO Allison Kirkby’s turnaround plan kicks in: slimming global ops, expanding coverage, and aiming for £3 billion in free cash flow by 2030.

BT faces fierce pressure at home — VodafoneThree just overtook EE as the UK’s largest mobile player.

Sinch Surges on AI Push, 4th Earnings Beat

Sinch shares jumped after the Swedish cloud comms firm delivered a fourth straight earnings surprise, fueled by higher-margin services, tight cost control, and early AI traction.

Despite foreign exchange driven top-line pressure, organic EBITDA rose 8%, gross profit climbed 6%, and margins widened—proof the company’s pivot away from low-margin SMS toward profitable email and voice is working.

The company also impressed with SEK 523 million in free cash flow, a 60% cash conversion rate, and a first-ever share buyback—sending a confident message to markets. CEO Laurinda Pang called AI “foundational,” as the firm embeds it into products and expands U.S. capabilities like two-way messaging across all carriers.

With the stock already up 65% this year some analysts warn the upside may be limited. FX headwinds and cautious enterprise spending could weigh on momentum. Other analysts are hiking targets, though. Sinch is emerging as a quiet comeback story in the mobile ecosystem.

Apple, Google Face UK Shake-Up on App Store Control

Apple and Google are facing a regulatory shake-up in the UK, as antitrust watchdogs move to designate both as holding “strategic market status”—a label that could force them to overhaul how their mobile platforms and app stores operate.

The move could slash the up-to-30% fees they charge for in-app payments, open up smartphone services like wallets and AI assistants to rivals, and even loosen control over app distribution. Critics say it doesn’t go far enough—Apple and Google warn it risks privacy, innovation, and delays to UK product rollouts.

If enforced, this could reshape how UK consumers interact with mobile ecosystems, while giving smaller developers new paths to market—and possibly triggering ripple effects across other regions.

Google Profit Soars 20% on AI, Cloud Boom

Tech earnings season kicks off in earnest on Wednesday, as Google’s parent company, Alphabet, reported a 20% rise in quarterly profits to $28.2 billion, driven by strong demand for AI and cloud services that helped offset concerns about a slowdown in search.

Google’s core ad and search business rose 12%, and its cloud unit jumped 32%, pushing full-year AI investment plans up to $85 billion.

That spending spree powers everything from mobile search to Google’s Gemini app — now with 450 million users — as AI overviews and chat features drive higher engagement, especially among young users.

But antitrust rulings and sky-high infrastructure costs are clouding the outlook.

Musk Warns as Tesla Posts Worst Quarter in a Decade

While Tesla posted its worst quarter in over a decade — and Elon Musk says the pain’s not over.

Profits missed, revenue plunged 12%, and Musk warned of “rough” months ahead as US EV incentives vanish and robotaxi dreams remain on the horizon.

Tariffs added a $300 million sting, hitting Tesla’s global cost base — and the mobile-linked auto sector is watching closely.

With investors clamoring for near-term clarity on autonomy and getting vague promises instead, shares tumbled over 5% aft.

Nvidia’s Huang and AMD’s Su Back Trump’s AI Plan

Chip giants Nvidia and AMD lined up behind President Trump’s new AI action plan, praising it as a major boost for America’s chip and data infrastructure.

At a tech industry event in Washington, Nvidia CEO Jensen Huang and AMD’s Lisa Su applauded moves to fast-track permits for data centers, expand access to power, and cut regulatory red tape—calling it essential to scaling AI systems that underpin mobile services and cloud apps.

The plan, already signed into action, also clears the way for expanded tech exports through U.S. government-backed finance tools, with an eye to ensuring allies use American AI chips—not Chinese ones.

Both CEOs said the policies strike the right balance between national security and growth. And while Huang and Su compete fiercely, they stressed a shared goal: making American tech dominant worldwide.

Trump Bars ‘Ideologically Biased’ AI from Federal Contracts

Meanwhile, Donald Trump has barred AI companies with “ideological bias” from winning federal contracts — a sweeping move aimed at tools like ChatGPT and Gemini, which allies accuse of pushing liberal agendas.

The executive order also fast-tracks data center permits and boosts U.S. tech exports, favoring chipmakers like Nvidia and AMD.

The government will now vet AI vendors for “strict impartiality,” while states with tough AI rules risk losing federal funding. Civil rights groups warn this could turn Washington into an AI censor.

OpenAI’s Altman: AI Wipes Out Whole Job Categories

Entire job categories are “totally gone”—that’s how OpenAI CEO Sam Altman described AI’s impact to the Federal Reserve this week, singling out customer support as already wiped out.

Altman told central bankers that today’s AI can not only replace agents without error, but also diagnose patients better than most doctors—though he admitted he wouldn’t trust it alone for his own care.

His remarks came as the Trump administration pushes an “AI action plan” to fast-track data centers and ease regulation, marking a pivot from past calls for caution.

But Altman also warned of deep risks: AI as a financial weapon, voiceprint fraud, and hostile nations hijacking models.