Google and Microsoft hit by slowing economy

Sales at Alphabet, owner of Google and YouTube, have slowed sharply as businesses cut their digital advertising budgets. Microsoft on Tuesday also said growth had slowed, amid weaker sales of computers and other technology. Microsoft said its revenue was up 11% to $50.1bn in the three months ending in September. This marked its slowest quarterly revenue growth in five years as weaker demand hit PC sales and growth in its cloud computing division. In recent months, Alphabet has said it was slowing hiring, while Microsoft has cut jobs.

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