Facebook shares hit near 20-month low as Sandberg defends its reputation November 17, 2018 Shares in social media giant Facebook dropped to their lowest point in 19 months last night, as its operations chief Sheryl Sandberg stepped in to defend the company's position on fake news and Russian interference. In an interview with CBS, Sandberg denied claims from a New York Times investigation that Facebook hired a Republican opposition research [...]
Facebook blasted by Soros foundation for ‘smear campaign’ November 15, 2018 Social media giant Facebook has reportedly severed ties with a public relations firm that allegedly linked its left wing critics to US billionaire George Soros. A story in the New York Times revealed that Facebook had employed Definers, a Republican PR firm, to discredit activist protestors, in part by linking them to Soros. The Open [...]
Move over Facebook and Apple, the next generation of customers has other ideas November 14, 2018 A visit to Rochdale Sixth Form College was a cheering experience last week. This year, 55 per cent of A-levels were at grades A* to B. True, Eton and Winchester do better. But this track record shows that even poor boroughs – and Rochdale is one of the poorest – have the capacity to deliver high-quality [...]
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 [...]
Facebook founder Zuckerberg rejects invitation to appear before UK MPs November 7, 2018 Facebook chief executive Mark Zuckerberg was today revealed to have refused an invite to appear before an “international grand committee” by Digital, Culture and Media and Sport (DCMS) Select Committee chairman Damian Collins The 27 November hearing would have debated the social media giant’s role in perpetuating so-called fake news. Collins had joined forces with his [...]
Hammond’s digital tax is an illogical game of whack-a-mole November 7, 2018 The introduction of a new digital services tax was the most depressingly inevitable part of Philip Hammond’s Budget speech last week. Years of pressure from a pincer movement of corporate tax moralists and traditional retailers have paid off. Starting in April 2020, profitable digital businesses with £500m in global revenues would face a two per cent [...]
Politicians should be wary of regulating the internet November 7, 2018 The internet is under scrutiny like never before. On Monday, Sir Tim Berners-Lee, architect of the world wide web, warned of his invention’s detrimental effect on society and democracy, and launched a “Magna Carta” so people can use it “freely, safely and without fear”. Then yesterday, the UK information commissioner, Elizabeth Denham, gave evidence to [...]
‘Self-regulation ship has sailed’: UK data watchdog targets Facebook after Cambridge Analytica scandal November 6, 2018 Facebook showed a “disturbing level of disrespect” for users whose data was stolen in the Cambridge Analytica scandal, according to the head of the UK’s data watchdog. Information commissioner Elizabeth Denham also called for the tech giant to be regulated, saying she was “astounded” at the sheer amount of personal data held by the social [...]
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 [...]
Facebook blocks 115 ‘inauthentic’ accounts over election interference fears as midterm elections start November 6, 2018 Facebook has blocked more than 100 accounts displaying suspicious activity on the eve of the US midterm elections, raising concerns of voting manipulation. The social network is investigating whether 30 Facebook accounts and 85 Instagram accounts might be connected to Russia’s Internet Research Agency, which was at the heart of attempts to use social media [...]