Facebook’s quarterly earnings shoot up to £6.5bn as it weathers whistleblower storm October 26, 2021 Facebook has recorded third quarter earnings of £6.5bn as it weathers a storm of blistering claims from a former employee. The company reported a net income for the three months ending on September 31 of $9bn, or £6.5bn, up from $7.8bn for the same period in 2020. Backlash against the technology firm has been intensifying [...]
Watch as Elon Musk’s Tesla joins elite club of $1 trillion companies after Hertz deal October 26, 2021 Tesla joined an elite club of companies worth at least $1 trillion on the stock market on Monday after rental car agency Hertz announced a record-breaking electric car order for Elon Musk. Watch the full report.
Zuckerberg condemns “coordinated effort” to paint Facebook in a bad light October 25, 2021 Facebook’s chief executive and founder Mark Zuckerberg denounced “the coordinated effort to selectively use leaked documents to pay a false picture” of the social media platform. In his calls to investor to discuss the third quarter results, he said: “I believe large organisation should be scrutinised. I much rather live in a society where they [...]
Facebook delivers good Q3 but expects Q4 to be below estimates October 25, 2021 Facebook has delivered a good progress in the third quarter of 2021, said the company’s chief executive Mark Zuckerberg while announcing the company’s results. “We made good progress this quarter and our community continue to grow,” he said. “I’m excited about our roadmap, especially around creators, commerce and helping to build the metaverse.” The social [...]
Leaders say ‘danke schön’ at Merkel’s farewell party with surprise appearance from Obama October 23, 2021 Angela Merkel was given a big farewell party by European leaders last night, with former US president Barack Obama making a cameo video appearance. Attending her 107th EU summit, Merkel was feted by friends and foes alike in an informal ceremony behind closed doors, where she was called everything from a “compromise machine” to the [...]
U.S. withdraws digital tax tariff threat for European countries October 22, 2021 The United States has withdrawn its tariff threat against five European countries over their digital services taxes. As part of a deal, Austria, Britain, France, Italy, Spain get to keep their digital taxes in place until a global tax agreement comes into force in 2023. The countries had agreed to withdraw their digital services taxes [...]
Hedge funds make millions as Spac shares soar post Trump deal October 22, 2021 Hedge funds made millions in potential gains as the shares of a special purpose acquisition company (Spac) that merged with Donald Trump’s new social media soared to 421 per cent yesterday, the Financial Times reported. Called Digital World Acquisition Corporation, the Spac’s shares rose from $9.96 to $51.90, closing at $45.50 – a 357 per [...]
Who wants to be a trillionaire? Musk in the race as Tesla profits hit record October 21, 2021 Morgan Stanley analysts believe Tesla’s founder and chief executive Elon Musk could become the world’s first trillionaire after the company’s results hit records, the Telegraph reported. The company’s revenues jumped 57 per cent to $13.7bn, with an operating income of $2bn and a 30 per cent increase in automotive gross margin while its shares more [...]
Trump to launch social media app, TRUTH Social October 21, 2021 Former U.S. President Donald Trump will launch his own social media app, TRUTH Social to "create a rival to the liberal media consortium and fight back against the "Big Tech” companies of Silicon Valley."
Potential Covid Plan C could ban household mixing October 21, 2021 Under a potential Plan C for Covid-19 that is currently being discussed by Cabinet officials, household mixing could be banned, the Telegraph reported. Health secretary Sajid Javid said “at this point” the government would not implement measures such as mandatory masks, vaccine passports and the advice to work from home, instead recommending people to meet [...]