Morgan Stanley selected to steer Uber through $120bn IPO April 5, 2019 Morgan Stanley has reportedly been chosen to ensure Uber has a smooth ride through its initial public offering (IPO) after a string of volatile tech floats have set nerves jangling. The ride-hailing app has named the US investment bank as stabilisation agent for its eagerly-awaited IPO, Bloomberg reported, citing people familiar with the matter. Read [...]
Samsung warns of 60 per cent drop in quarterly profits as smartphone sales slide April 5, 2019 Samsung Electronics has warned its first quarter profits are likely to plunge 60 per cent compared to the same period last year. The South Korean tech firm said its profit for the first three months of the year was likely to be between 6.1 trillion and 6.2 trillion won (£4.1bn), down from 13.6 trillion won [...]
US blocks Amazon’s attempts to ban shareholder vote on facial recognition software April 5, 2019 US authorities have blocked an effort by Amazon to prevent its investors from voting on two proposals about the sale of the company’s facial recognition service. Investors had put forward proposals for a potential audit of its facial recognition software, known as Rekognition, over concerns about breaches of privacy and civil rights. Read more: Millions [...]
Boeing admits sensor malfunctioned on both fatal 737 Max crashes April 5, 2019 Boeing has admitted a sensor on its 737 Max jet malfunctioned during two recent flights that crashed, killing everyone on board. The plane manufacturer issued a statement saying a sensor that pushes the plane’s nose down to prevent stalling had been activated as a result of erroneous data on the doomed Lion Air and Ethiopian [...]
Poll: Sterling set to rise three per cent if Brexit deal looks likely April 5, 2019 Sterling will jump three per cent if it looks likely the government will secure a Brexit deal, but will drop five per cent if talks fail, according to a Reuters poll. The pound plummeted following the 2016 referendum and has been volatile ever since as the market reacts to every development in the Brexit negotiations. [...]
Prime Minister Theresa May asks EU for Brexit delay until 30 June April 5, 2019 Prime Minister Theresa May has written to Donald Tusk requesting an extension to the Brexit deadline until 30 June. She asked for an option for the UK to withdraw earlier if a deal is agreed, but admitted the delay means the UK may have to take part in the European parliament elections in late May. [...]
Google scraps AI ethics board after just a week amid controversy over board member April 5, 2019 Google has scrapped its AI ethics board only a week after forming it following a controversy over its choice of board members. The tech giant last week unveiled its newly-formed Advanced Technology External Advisory Council (ATEAC) to oversee the ethical development and use of its AI research and products. Read more: Here's how much Google [...]
MPs slam BBC over ‘chaotic’ handling of freelance presenter tax system April 5, 2019 MPs have launched a scathing attack on the BBC over a “muddled and chaotic” approach to freelance workers that left hundreds of presenters liable to tax investigations. The Public Accounts Committee (PAC) last year launched an inquiry after it emerged the complex employment status of the broadcaster’s freelancers could mean tax laws were being broken. [...]
Conde Nast names media veteran Roger Lynch as new global chief executive April 4, 2019 Publishing giant Conde Nast has named Roger Lynch as its first global chief executive as the company merges its US and international operations. Lynch, the former boss of US streaming service Pandora Radio, will also join the firm’s board when he assumes the role on 22 April. Read more: Vogue publisher Conde Nast's accounts reveal [...]
Snapchat set to shed users to Instagram after controversial 2017 redesign April 4, 2019 Snapchat will see a decline in users from this year as an ill-fated redesign pushes people to rival social media platforms, a new report has stated. This year 14.5m people in the UK will use Snapchat, down 2.3 per cent on last year, according to a forecast published by Emarketer. Read more: Fraudsters use Facebook [...]
