Facebook shares down after investigation reveals true extent of data-sharing with other tech giants December 19, 2018 Facebook’s shares fell 6 per cent today after an investigation revealed the company gave big tech companies far greater access to users’ personal data than it had previously admitted. The social media giant let Microsoft’s Bing search engine see the names of virtually all users’ friends without their permission, according to reports. The New York [...]
Alibaba-backed dockless bicycle startup Ofo facing bankruptcy December 19, 2018 Chinese bike-sharing startup Ofo has reportedly considered filing for bankruptcy, after coming under "immense" financial pressure resulting from a lack of cash flow. The firm, which operates a yellow dockless bicycle scheme across London and in other cities, has raised more than $2.2bn (£1.7bn) in funding since it was founded in 2014 from the likes of tech giant [...]
The year crypto went crazy: what’s next for bitcoin in 2019? December 19, 2018 This was the year the world woke up to cryptocurrencies. When the Bitcoin price bubble burst in December last year, having hit almost $20,000 (£15,886) per coin in value, governments, banks and tech giants alike began to sit up and take notice. The City was faced with a decision: is Bitcoin a vehicle for fraud [...]
Elon Musk unveils the first high-speed Boring hyperloop tunnel in California December 19, 2018 Entrepreneur and Tesla chief Elon Musk has lifted the curtain on the first tunnel completed by his underground high-speed rail venture the Boring Company. In a 30-minute presentation, Musk described the 1.14 mile tunnel as a breakthrough in counteracting the "soul-destroying" traffic of Los Angeles, California. Despite previously suggesting the public would be offered free [...]
Big pharma: GSK to split as it forms £9.8bn consumer health venture with Pfizer December 19, 2018 British pharmaceuticals group Glaxosmithkline (GSK) has revealed it has entered into an agreement with US rival Pfizer to combine their consumer health businesses into one joint venture, expected to bring in sales of approximately £9.8bn. GSK said it will hold a majority controlling interest in the new venture at 68 per cent, while Pfizer will [...]
France will tax Amazon and Facebook as tech tax talks with the EU falter December 18, 2018 France expects to pull in around €500m (£450m) each year as it introduces a new tax on major technology companies such as Amazon and Apple. Speaking in Paris, finance minister Bruno Le Maire said he would push ahead with the tax plans after talks to establish an EU-wide version collapsed earlier this month, AFP reported. [...]
Why voice assistants are set to make their ‘presents’ known this Christmas December 18, 2018 Christmas is now only a week away, and unsurprisingly gadgets will be taking up a lot of space under the tree, as people want to get their hands on the latest tech. Voice assistants are set to be an affordable, useful gift for many this year, and have become one of the hottest presents on [...]
Bumper rocket launch day blown off track as Elon Musk’s Space X and Jeff Bezos’ Blue Origin launches postponed until tomorrow December 18, 2018 Tuesday was set to be a day which had rocket enthusiasts glued to their screens, with four commercial space missions planned for launches in the United States – but three have been postponed until tomorrow because of strong winds. The rockets include one made by Elon Musk’s Space X and another by Jeff Bezos’ Blue Origin, but both have now [...]
Branson’s Virgin Galactic blasted as ‘dangerous, dead-end tech’ by Aussie astronaut December 18, 2018 Virgin Galactic, the commercial space endeavour led by billionaire Richard Branson, has been rejected by an Australian astronaut as "dangerous" to human space flight. Spaceman Andy Thomas told reporters in Adelaide last night that while he supported what Branson was contributing to satellite technology, he was critical of his goals to take tourists into orbit. [...]
UK chipmaker Graphcore gains unicorn status with $200m funding from BMW and Microsoft December 18, 2018 UK artificial intelligence chipmaker Graphcore has raised a $200m (£158.1m) series D funding round from BMW and Microsoft, valuing the firm at $1.7bn. The round brings Graphcore's total amount raised to date to over $300m, with its new investors joining existing backers such as electronics founder Robert Bosch, Dell and Samsung Electronics. The round was led by London venture [...]