Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.

 

Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.

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Netflix app revenue jumps 90% in Q2, pulls in estimated $244 million

Netflix app revenue jumps 90% in Q2, pulls in estimated $244 million

App spending across Apple App Store and Google Play increased 23% in third quarter, as per research firm Sensor Tower estimates

Netflix has dramatically upped its revenue haul through smartphones.

For the third quarter in a row, the streaming giant had the No.1 grossing non-game mobile app worldwide in Q3 2018—and generated around $243.7 million across both Apple’s App Store and Google Play, according to research firm Sensor Tower.

This makes it up about 90% YoY, from Netflix’s gross of approximately $128.4 million worldwide across the App Store and Google Play in the third quarter of 2017. For the most recent wuarter, most of Netflix’s new mobile users came from the US, Brazil and India.

The company’s mobile boom is especially impressive, considering that as of May 2018, Google Play billing for Netflix is no longer available to new or rejoining customers. That suggests that much of the growth for Netflix on mobile has come through Apple—which takes a 30% cut of subscription revenue from app partners in the first 12 months, and then 15% in subsequent years.

Netflix led other paid apps and those with in-app subscriptions in revenue. IAC’s Tinder came in at No. 2, which was followed by Tencent Video, iQIYI, Pandora and Youtube.

Overall, global consumer spending on the App Store and Google Play totaled $18.2 billion during Q3—up 23% from the year-ago quarter, stated Sensor Tower estimates. Apple’s App Store widened its lead over Google Play, as the App Store earned $12 billion during Q3—nearly 93% more than Google Play, and representing the biggest revenue disparity since 2014.

In terms of number of downloads, Facebook once again topped the global chart with four of the top five apps for Q3—with WhatsApp, Messenger, Facebook app and Instagram being at No. 1,2,3 and 5, respectively.

Spending on mobile games rose 14.9% in the quarter, to $13.8 billion, representing 76% of all app revenue worldwide across both App Store and Google Play. Top-grossing game apps were again led by titles from Asia—with Tencent’s MOBA “Honor of Kings” retaining the No. 1 spot across all apps worldwide. Niantic’s “Pokemon Go” being the top-ranked Western-made game by revenue and Epic Games’ “Fortnite” ranked at No. 9—despite not being available on Google Play.

Downloads of mobile games grew 2.2% YoY in the last quarter to total 9.5 billion on the two platforms. Sensor Tower stated that Google Play saw 76% of those, with 7.2 billion downloads in the period.

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