Facebook’s libra cryptocurrency ‘poses global currency threat’ Facebook libra ‘poses global currency threat’ Facebook’s new cryptocurrency libra poses a threat to global financial policy, according to former Bank of Japan executive Hiromi Yamaoka. Worldwide, Facebook has over 2.4bn active monthly users and, should a significant proportion of these start using Facebook’s new currency, Yamaoka warned that this could significantly devalue trade and monetary policies globally. Read more: MP’s [...]
Direct Line profits drop after £16m blow from discount rate change Direct Line profits drop after discount rate change Motor insurer Direct Line reported a 10.2 per cent drop in first-half profits today amid aims to cuts costs and as it took a hit from government changes to insurers’ discount rate. Read more: Insurers voice dismay over government change to personal injury discount rate The figures Operating profit sank to £274.3m for the six [...]
Nintendo switches it up in profit loss Japanese video game manufacturer Nintendo has announced a 10 per cent decline in its quarterly profit. The decline comes amid a troubling period for Nintendo’s older consoles, with the Kyoto-based company aware of the declining sales of the Nintendo 3DS, whose hardware and software sales have fallen almost 50 per cent year-on-year. Nintendo’s net revenue [...]
Uber lays off 400 marketing staff in drive to trim IPO bloat July 30, 2019 Uber has laid off a third of its global marketing team as it pushes to cut bloat after its stock market debut in May. The decision to cut its marketing team from 1,200 to 800 people represents an overall staff reduction of roughly 1.6 per cent worldwide. Read more: Uber and rival Ola sniff around [...]
Dislike: EU warns websites they’re responsible for data leaked via Facebook’s like button July 29, 2019 Third-party websites are now jointly responsible for processing people’s data if they embed Facebook’s so-called like button, the EU’s foremost court ruled today. The European Court of Justice’s ruling means websites must now either gain people’s approval for this activity or prove they have a legal basis for processing this data. Read more: France, US [...]
Amcham urges Hong Kong to retire China extradition bill to revive business confidence July 29, 2019 The American Chamber of Commerce has issued a call for Hong Kong’s government to kill a controversial bill in order to quell protests it said are harming business confidence. Hong Kong chief executive Carrie Lam has paused a vastly unpopular China extradition bill which led to widespread protests across the city. Read more: Hong Kong [...]
