Facebook CEO Mark Zuckerberg to testify before US congress in Washington April 4, 2018 Facebook boss Mark Zuckerberg is set to testify before the US House Energy and Commerce Committee next week. The committee said it will be examining the misuse of data by political consulting firm Cambridge Analytica during the US 2016 election. The social media giant has come under fire after it was revealed that Cambridge Analytica [...]
Spotify share price drops on first day of trading on Wall Street April 4, 2018 Shares in music streaming service Spotify dropped off in its second day of trading on Wall Street, following a strong opening performance yesterday. Spotify shares opened at $165.90 (£118), but by early this afternoon, the price had dropped 15 per cent to $140. Spotify’s opening listing was 34 per cent higher than its initial set [...]
Should Mark Zuckerberg step down? April 4, 2018 THE CEO HAS changed. That’s no longer a secret. For the first time in history, chief executives and business leaders are virtually expected to be in the public eye, communicating with the customer and offering opinions on social and political issues. This can have commercial benefits. People buy from other people: therefore if organisations leverage [...]
Mark Zuckerberg hits back at Tim Cook after Apple CEO criticises Facebook’s data collection April 2, 2018 Facebook boss Mark Zuckerberg has pushed back against Apple CEO Tim Cook’s latest criticism of the social media giant, calling the critique “extremely glib and not aligned with the truth”. The comments come after Cook called out the Facebook’s business model as a scheme to monetise users. Zuckerberg made the comments in an interview with [...]
Spotify float still set to top Snap and Twitter amid tech sell-off March 28, 2018 Spotify is expected to be worth $26bn (£17bn) at the end of its first day of trade next week, more than social media platforms Snap and Twitter, according to IG client accounts. IG’s grey market, which allows traders to speculate on the music streaming giant’s market capitalisation at the end of its first day of [...]
Facebook scandal: European markets hit by Wall Street’s tech sell-off March 28, 2018 European markets are taking a hit today after US tech stocks had their worst day since February 2016 yesterday. Wall Street’s Faangs (Facebook, Apple, Amazon, Netflix and Alphabet’s Google) were battered yesterday over fears of a regulatory crackdown following Facebook’s data scandal. Shares in the social media giant have fallen about 15 per cent this [...]
Jeremy Corbyn tells Jewish leadership groups he is “militant opponent” of anti-Semitism, pledges that Labour will do more March 26, 2018 Jeremy Corbyn has written to the two Jewish organisations planning today’s protest to apologise for the rise of anti-Semitism within the Labour party in recent years. The leader who has been plagued with accusations of anti-Semitism since he took the reins from Ed Miliband, told the Jewish Leadership Council and the Board of Deputies of [...]
Interiors: Westfield London’s flagship John Lewis wants to usher the high street into the 21st century with ‘experiential’ shopping March 24, 2018 It’s been 10 years since Westfield shopping centre opened its doors to much fanfare in White City, and this week its £600m expansion opened a full six months early. Westfield London, as the west London outlet is called, is already the largest retail destination in Europe and it has more potential customers than ever as [...]
The changing face of world shares March 22, 2018 The US market represents more than one half of the total quoted wealth in world shares. It is, however, a very different pattern of wealth holdings from previous decades, reflecting the huge changes underway in business models and customer preference. Looking at just how much the index has changed is a good way of mirroring [...]
Rihanna roils markets as China bags a key element March 21, 2018 Garry White, chief investment commentator, looks at the market moving events that have shaped the UK equity markets this week (March 12 to March 16, 2018). This week, Barbadian singing sensation Rihanna managed to wipe $1bn off the valuation of tech group Snap, the Chinese secured a major cobalt deal to help it produce electric [...]