Apple fined for slowing down old iPhones February 8, 2020 Apple has been fined 25m euros (£21m) for deliberating slowing down its older iPhone models and not making customers aware. The fine, which was imposed by France’s competition and fraud watchdog DGCCRF, was for failing to make this clear to consumers. Apple admitted in 2017 that it slowed down some of its iPhones but only [...]
Uber meets estimates but rising costs eat into profit February 6, 2020 Uber continued to draw more customers in the fourth quarter but high costs at Uber Eats means it continues to lose money. The company’s fourth quarter revenue met Wall Street’s estimates, rising 36.9 per cent to $4.07bn (£3.15bn). It was in line with analyst expectations of $4.06bn. It was aided by an increase of monthly [...]
Activist investor Elliott builds up $2.5bn stake in Softbank February 6, 2020 Activist hedge fund Elliott Management has reportedly built a $2.5bn (£1.93bn) stake in Softbank. The activist investor is discussing ways it could boost the value of the Japanese conglomerate, according to Reuters reports. One of the issues reportedly being discussed is how SoftBank can improve the decision-making process at its Vision Fund and the possibility [...]
Twitter shares rise as revenue beats $1bn for the first time February 6, 2020 Shares in Twitter rose as much as eight per cent in pre-market trading today after the social media firm missed profit estimates but beat $1bn in quarterly revenue for the first time. Twitter reported net income of $119m (£91m), down from $255m on the same quarter last year and behind expectations. However, the social media [...]
Airbnb bans under-25s from booking ‘party houses’ after violence February 6, 2020 Airbnb has launched a crackdown on young people booking entire properties in a bid to prevent house parties from descending into violence. The new rules have been rolled out in Canada as part of a trial programme, though the company did not say whether it will be extended to other countries. It comes after a [...]
Fusion energy can power us to a greener world February 6, 2020 There is an old joke among scientists: fusion power is 30 years away, and always will be. Yet as we enter the decade in which the big questions on the future of energy must be answered, is it time to revisit fusion and its unrivalled potential to change the way the world generates power? The [...]
It’s time for marketers to give the emoji a thumbs up and a smiley face February 6, 2020 There is a clear rule of thumb in the world of marketing: emojis equal engagement. Emails with an emoji in the subject line have better click-throughs, and social media posts with images get more responses. Given this, why do some marketers still feel that these modern-day hieroglyphics are a formality fail, especially in a business setting? [...]
Tech firms needs to earn back public trust in order to innovate February 6, 2020 Innovations in technologies such as biometrics, cyber security, and artificial intelligence stand to perform an unprecedented, positive role in society. But their development means that we’re being asked to entrust more of our lives to technologies that we don’t fully understand, hand over our data to people we can’t see, and form relationships with businesses [...]
Relief for shortsellers as Tesla stock slumps 14 per cent February 5, 2020 Investors betting against electronic carmaker Tesla may breathe a sigh of relief after its stock slumped more than 14 per cent. Tesla is the largest short in the domestic market with short interest of $14.28bn, but short sellers have been dealt a blow in the last week as Tesla’s stock climbed above $900 (£692.7). Tesla’s [...]
Digital sector contributes £149bn to UK economy amid tech boom February 5, 2020 Digital companies contributed £149bn to the economy in 2018 as the UK retained its position as a leading tech superpower. The figure, which equates to £400m per day, means the digital sector accounts for 7.7 per cent of the UK economy as a whole. Growth in the thriving tech sector was also six times larger [...]