Former Google chief Eric Schmidt: AI could fix the world’s productivity problem November 28, 2018 Eric Schmidt, the former chief executive and chairman of Google, has come out with a message of confidence for the future of tech in the workplace, predicting AI could provide productivity with a much-needed boost. "I can tell you that [in] the future is there’s going to be a much larger number of empty jobs, [...]
Google and DeepMind are playing fast and loose with society’s trust November 20, 2018 Last week, we were greeted by the disturbing news that DeepMind, an artificial intelligence subsidiary owned by Google’ s parent company Alphabet, is moving some of its healthcare activities into the newly formed Google Health. This isn’t the first time that one of the tech giants has been accused of making misrepresentations to consumers, using [...]
Google appoints former Oracle executive Thomas Kurian as new chief of its cloud business November 17, 2018 Google is set to appoint former Oracle executive Thomas Kurian as the new chief executive officer of Google Cloud. Kurian will join the company on November 26 and take over Google's cloud business in January, when current CEO Diane Greene is due to depart. Greene announced on Friday that she would be leaving the role after [...]
Apple loses $50bn in market valuation as fears grow of slowing iPhone sales November 12, 2018 Apple's shares fell five percent tonight after a major supplier cut its financial outlook, leading to fears demand for the iPhone has plateaued. The fall slashed $50bn (£38.9bn) from Apple’s market valuation with shares falling $20.30 to $194.17. The losses mean Apple’s market capitalisation has fallen $190bn since October, more than the entire market value [...]
EU antitrust chief Margrethe Vestager signals decision on Google Adsense investigation November 7, 2018 European competition commissioner Margrethe Vestager has said regulators are close to releasing findings against Google, which could see the tech giant hit with another record-breaking fine. The investigation is the third of its kind into Google and its parent firm Alphabet by the antitrust watchdog in recent years, after the firm was fined €4.3bn (£3.8bn) earlier this year over market [...]
EU leaders split on plans for a European digital tax November 6, 2018 EU member states have failed to reach a consensus on imposing an EU-wide digital services tax, which affects firms such as Facebook and Alphabet, over fears of potential US retaliation. The plan, which requires approval from all 28 EU member states, is opposed by many. The levy would see a three per cent tax placed [...]
Hammond spies end of UK’s deficit despite Budget spending increase November 5, 2018 Chancellor Philip Hammond has said he believes the government’s target of eliminating the UK’s deficit is “within touching distance”, despite ramping up public spending and tax cuts in the Budget. Appearing before the Treasury Select Committee this evening, Hammond denied his 2016 plans to reach a budget surplus by the mid-2020s had been abandoned. However, he [...]
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 [...]
Google parent Alphabet ducks revenue estimates amid sexual harassment furore October 25, 2018 Alphabet edged below consensus estimates on revenue in its third quarter results tonight, despite profits rising higher than analysts anticipated. The Google parent firm’s share price fell more than four per cent in after-hours trading, as revenues hit $33.74bn (£26.3bn) in the third quarter compared with estimates of $34.02bn as collated by S&P Global Market Intelligence. [...]
Technology is set to be this week’s hottest ticket on Wall Street as its biggest leaders go head-to-head October 21, 2018 This Thursday is set to be a battle of the technology heavyweights, as behemoths Amazon, Alphabet, Snap and Twitter all report their quarterly results. Both Amazon and Alphabet, the parent company of Google, trounced consensus estimates last quarter, with Amazon truly shaking up the game on Wall Street with earnings per share rising over 1,157 per cent [...]