FAANGs come out to play in Halloween shares surge October 31, 2018 Technology's biggest players, lumped together as the so-called FAANG stocks, have ended their October losing streak which had left investors spooked with just one day to go. Netflix's share price saw the biggest gains out of the FAANGs grouping, rising almost seven per cent this afternoon off the back of better-than-expected results for Facebook last night. The social [...]
Panasonic earnings down as surging Tesla battery costs hurt profit October 31, 2018 Panasonic suffered a 15 per cent profit dip in the second quarter thanks to its investment in Tesla's battery business, the Japanese firm revealed today. The technology giant's disappointing profit yield saw it take ¥95.2bn ($840.9m) between July and September, down on the 112.7bn yen it took for the same period a year ago. The company blamed [...]
Bitcoin turns 10: Crypto trader Etoro sets up a free bitcoin ATM in London with a unique twist October 31, 2018 To celebrate the 10-year anniversary of bitcoin, cryptocurrency trading platform Etoro has set up a crypto ATM on London's Finsbury Avenue Square. However the machine comes with a twist: you have to tunefully wish it a happy birthday to it if you want to get your hands on some free bitcoin. The ATM, which Etoro said is the first [...]
British jets scrambled to investigate Russian planes October 31, 2018 British jets were scrambled earlier today to investigate suspected Russian fighter plans flying close to UK airspace. “Typhoon fighters … were scrambled today as a precautionary measure against a potential incursion into UK area of interest by one or more unidentified aircraft,” a spokesman for the Ministry of Defence (MoD) told Reuters. “At no time was [...]
Facebook’s Mark Zuckerberg invited again to appear before MPs investigating fake news October 31, 2018 Facebook chief Mark Zuckerberg has been summoned to a special meeting of UK and Canadian MPs to give evidence about ‘fake news’. Conservative MP Damian Collins, chair of parliament’s digital, culture, media and sport committee, has joined forces with his Canadian equivalent, Bob Zimmer, to propose a one-off hearing on 27 November. The social media billionaire [...]
This Halloween, businesses must tackle their demons and embrace the AI boogeyman October 31, 2018 Business leaders are an easily spooked bunch. Economic turbulence, new competitors, and workplace skill deficits are just a few of the things that can give us a fright at any time of year, without the added frisson of All Hallows’ Eve. But a new fear has emerged this year: customer data – namely how it’s [...]
Computacenter shares crash 20 per cent as it loses out on IT infrastructure sales October 31, 2018 Computacenter shares plummeted almost 20 per cent in early morning trading after it told investors that revenue has fallen three per cent in the face of “significantly more challenging” conditions. The FTSE 250 IT firm warned that third quarter revenues have fallen to £900m from £931m in the same period in 2017, while UK revenues [...]
Hammond’s digital services tax puts UK competitiveness at risk October 31, 2018 The government has long been scratching its head for ways to address the current tax treatment of global tech platforms. Our tax code – all 10m words of it – has been struggling to keep up and adapt to a new economy that is being driven by technology, innovation, and digitalisation. On Monday, Philip Hammond [...]
Ebay predicts fourth quarter surge in profits October 30, 2018 E-commerce giant Ebay forecasted a rise in fourth quarter profits above analyst estimates tonight, despite its rival Amazon announcing last week that its profits will disappoint across the upcoming holiday period. Shares in Ebay, which also beat estimates on profit for its third quarter, rose six per cent in after-hours trading. Net income for the [...]
Facebook hit by user drop as European growth falls for a second quarter October 30, 2018 Social media giant Facebook failed to live up to estimates for monthly user growth in its third quarter, as growth remained flat in North America but fell across Europe for the second consecutive quarter in the wake of massive data breaches and tightened regulations. Despite this, its profits outperformed expectations, the firm said tonight. Shares [...]