Facebook shares fall after reporting slowed growth January 29, 2020 Facebook’s share price fell almost eight per cent in extended trading tonight, following the firm’s fourth-quarter results. The social media giant reported sales growth of 24.7 per cent to $21.08bn, edging past analyst forecasts of $20.89bn and marking the fourth straight quarter of growth under 30 per cent. It also nudged up profit, posting earnings [...]
Apple shares soar after beating Wall Street estimates January 29, 2020 Apple hit an all-time high of $327.25 per share in morning trading after strong iPhone sales drove record revenues. The technology giant surpassed Wall Street’s estimates last night, reporting a nine per cent increase in revenue to $91.8bn while the consensus estimate was $88.5bn. It also marked a record profit of $22.2bn. Apple reported earnings [...]
Mike Pompeo urges UK to reconsider Huawei 5G decision January 29, 2020 US secretary of state Mike Pompeo today urged the UK to rethink its decision to allow Huawei to help build 5G networks, describing the move as a “real risk”. Prime Minister Boris Johnson yesterday granted the Chinese firm a limited role in British telecoms infrastructure — defying stark warnings from the US. “There is a [...]
Shares in cyber firm Avast drop on data sale scandal January 29, 2020 Shares in Avast fell as much as 9.5 per cent today after it emerged the cybersecurity firm had been selling its user data to firms such as IBM and Microsoft. The antivirus software manufacturer tracked users’ clicks, collecting data on their searches on platforms such as Google and Linkedin, as well as their activity on [...]
Airbnb backs creation of EU digital regulator after court victory January 29, 2020 Airbnb has backed calls for the creation of a digital regulator for the European Union after winning a landmark court case in the bloc that meant it could be classed as an online platform rather than a property agent. The short-term home rental platform said a new watchdog should form part of the discussion around [...]
My data prophecy? More regulation is on the way January 29, 2020 In 2018, a new elephant entered the room. A giant EU elephant called the General Data Protection Regulation (GDPR). GDPR and data privacy became, slightly bizarrely, a subject that was talked about in offices and in pubs. Even my proverbial aunty knew what it was. In corporate land, there was a frenzy of preparation ahead [...]
Tech giants urged to pick up VAT bills in fraud crackdown January 29, 2020 Online marketplaces such as Amazon and Ebay have been urged to take responsibility for VAT collection and remittance in the UK. Trade body the Association of Accounting Technicians (AAT) today called on the government to make tech firms liable for the goods tax, citing concerns about growing fraud. HMRC has estimated that VAT fraud by [...]
Apple beats profit and revenue estimates to defy coronavirus fears January 28, 2020 Apple reported earnings and revenue above Wall Street estimates tonight, proving its streak of success had continued to rise during the crucial Christmas trading period. The iPhone creator reported earnings of $4.99 per share for the three months to the end of December 2019, above estimates of $4.55 per share. It marked a record profit [...]
SAP’s new leadership raises guidance following strong results January 28, 2020 SAP raised its guidance today following a strong set of quarterly results under its new leadership duo. The technology firm has raised its revenue and profit outlook. SAP forecasts that operating profit will reach €8.9bn to €9.3bn in 2020. Revenues are expected to gain 6-8 per cent to €29.2bn (£24.7bn) to €29.7bn (£25.16bn). It is [...]
UK businesses breathe sigh of relief as Huawei gets the green light January 28, 2020 UK businesses today welcomed the decision to allow Huawei a limited role in the country’s 5G networks, hailing a “sensible compromise” to the fraught row over national security. In a long-awaited ruling, the government said the Chinese tech firm, which has been classed a “high-risk vendor”, will be allowed to build non-core parts of the [...]