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Updated 2024-10-05 09:02
Instagram boss moves to London after backlash over app changes
Adam Mosseri relocates temporarily as Meta continues attempts to counter TikTok’s riseThe head of Instagram is temporarily relocating to London less than a week after the Meta-owned company faced outrage from influencers such as Kim Kardashian and Kylie Jenner over changes to the popular photo-sharing app.Adam Mosseri, who has a strong relationship with the billionaire Meta owner Mark Zuckerberg, will move to the company’s offices in King’s Cross amid the tech firm’s battle for users with its Chinese rival TikTok. Continue reading...
Has the Covid pandemic caused an increase in shortsightedness in children?
Myopia is rising in children but experts say focus should be on spending time outdoors rather than reducing screen time
Pearson plans to sell its textbooks as NFTs
Educational publisher’s move into non-fungible tokens is intended to claw back some of the income lost to secondhand salesTextbook publisher Pearson plans to profit from secondhand sales by turning its titles into non-fungible tokens (NFTs), its chief executive has said.Educational books are often sold more than once, since students sell study resources they no longer require. Publishers have not previously been able to make any money from secondhand sales, but the rise of digital textbooks has created an opportunity for companies to benefit. Continue reading...
Uber bookings hit all-time high in past three months as workers return to offices
Passengers took 1.87bn trips during the spring and early summer, company says, a 24% increase compared with same time last yearUber’s bookings hit an all-time high in the last three months as anxiety over Covid-19 eased and workers headed back to the office.Passengers took a total of 1.87bn trips on Uber during the spring and early summer, the company reported on Tuesday, a 24% increase compared with the same time last year. That’s about 21m trips a day, on average. Continue reading...
Pushing Buttons: the fast, furious world of games releases
Games announcements have become relentless. How’s a player to keep up? Start with our summer previews
Pressing paws: Stray, the video game that’s a hit with cats (and their humans)
Stray, a new indie title starring the internet’s favourite animal, is delighting players and pets alike, and its creators at BlueTwelve have been charmed by the reactionWhen a video game has us playing as an animal, it’s usually some psychedelic anthropomorphic cartoon creature such as Crash Bandicoot or Sonic the Hedgehog. Rarely do we actually behave like an animal, although when we do, it can be hilarious: 2019’s breakout cult hit Untitled Goose Game stars a nasty goose honking, pecking and chasing its way around a village of peeved humans, for instance. Stray, released last week, has us playing as the internet’s favourite animal, a cat, doing cat stuff: pattering across roofs, snoozing on cozy cushions, pushing things off shelves for no discernible reason.Players and critics have lapped Stray up. Even Peta likes it. But it’s also been winning over the feline population. Players have been posting pictures and videos of their own cats watching the game, apparently fascinated by the virtual cat’s surprisingly realistic movement and meows. The Twitter account @CatsWatchStray has now compiled hundreds of them. Continue reading...
Pixel Buds Pro review: Google’s great AirPods Pro rival for Android
New and improved earbuds sound better, have noise cancelling, last longer and are very comfortableGoogle’s latest Pixel Buds earbuds have been given the “pro” treatment, with better sound, noise cancelling, multipoint Bluetooth and a comfier design aimed at rivalling Apple’s AirPods Pro but for Android users.The Pixel Buds Pro cost £179 ($199/A$299), sitting above the firm’s £100 Pixel Buds A-Series as Google’s new top model. They will work with any standard Bluetooth device, including PCs and iPhones, but have special features designed for Android. Continue reading...
Cryptocurrency fraud scheme busted by US securities agency
The Forsage pyramid scheme cheated investors out of $300m worldwide over more than two yearsUS authorities have busted a huge cryptocurrency pyramid scheme, charging 11 people for their role in defrauding retail investors for more than $300m worldwide.The US Securities and Exchange Commission (SEC) announced the charges Monday, which relate to a Ponzi scheme called Forsage that had operated for more than two years. The agency charged the alleged founders of the pyramid scheme as well as several promoters. Continue reading...
Elon Musk’s father says he isn’t proud of his son
When asked if he’s proud of his son’s accomplishments, Errol Musk says: ‘No … we are a family that have been doing a lot of things’The father of Elon Musk said during an interview that he isn’t proud of his billionaire son, saying that Elon is unhappy with his own career progress.During the strange interview Monday with the Australia radio The Kyle and Jackie O Show, 76-year-old Errol Musk was asked if he was proud of Elon’s accomplishments. Continue reading...
Anti-vax Twitter accounts pushing food crisis misinformation, study finds
Research says conspiracy theorists shifting from QAnon and Covid to disinformation about crisis caused by Russia’s war in UkraineTwitter accounts that have promoted QAnon and anti-vaccine conspiracy theories are switching focus and increasingly spreading disinformation about the global food crisis caused by Russia’s invasion of Ukraine, according to a new study.The research by the Network Contagion Research Institute (NCRI), found that conspiracy theorist social media accounts started pushing the idea that western countries are responsible for the interruption of wheat, barley and maize exports from Ukraine. Continue reading...
Landlords evicting tenants for Airbnb and holiday lets, report finds
Rachael Maskell, the York Central MP, has proposed a bill to tackle shortage of private rental housingLandlords are evicting tenants and switching to Airbnbs and holiday lets because the money is better and they “do not have to worry about bad tenants”.Research has found a boom in rental properties being used for short-term lets, caused by a rise in domestic holidays and increased regulations for long-term landlords. Continue reading...
Can artificial intelligence really help us talk to the animals?
A California-based organisation wants to harness the power of machine learning to decode communication across the entire animal kingdom. But the project has its doubtersA dolphin handler makes the signal for “together” with her hands, followed by “create”. The two trained dolphins disappear underwater, exchange sounds and then emerge, flip on to their backs and lift their tails. They have devised a new trick of their own and performed it in tandem, just as requested. “It doesn’t prove that there’s language,” says Aza Raskin. “But it certainly makes a lot of sense that, if they had access to a rich, symbolic way of communicating, that would make this task much easier.”Raskin is the co-founder and president of Earth Species Project (ESP), a California non-profit group with a bold ambition: to decode non-human communication using a form of artificial intelligence (AI) called machine learning, and make all the knowhow publicly available, thereby deepening our connection with other living species and helping to protect them. A 1970 album of whale song galvanised the movement that led to commercial whaling being banned. What could a Google Translate for the animal kingdom spawn? Continue reading...
Will ‘connected cars’ persuade drivers to pay for a high-spec ride?
Manufacturers have spied a handy revenue stream by delivering upgrades ‘over the air’, but are car owners prepared to fork out?When a customer said they had driven across three US states, from Texas to North Carolina, to get their car fixed, Tesla servicer Jason Hughes knew something must be up. It turned out to be an unusual problem: the Model S had lost a third of its battery range in an instant, while it was parked on a driveway.One of the US electric carmaker’s big selling points is that it is constantly connected to its vehicles via mobile networks, offering software updates and entertainment downloads “over the air”, or OTA. That remote connection could be revolutionary for the industry, opening the door for self-driving features to be downloaded and TV shows to be livestreamed in high definition. But the connected car is having teething problems. Continue reading...
‘These ship-breakers work on a site laden with toxic waste’: Mithail Afrige Chowdhury’s best phone picture
The Bangladeshi photographer on workers in Dhaka who risk their lives dismantling old vessels for recycling or disposal
The Vardy Effect: Going to court to deny something a rock could see is true
Rebekah Vardy probably isn’t buzzing at the ruling, a character assassination that has left her well and truly stung by libelOscar Wilde, Barbra Streisand, and now – Rebekah Vardy. When news broke that Vardy had lost her libel case against Coleen Rooney, she joined this heady roster of celebrities who have launched brain-bogglingly misguided and self-wounding legal cases. Like Wilde – who sued the Marquess of Queensberry for revealing his homosexuality – Vardy went to court to deny something that a rock could see was true: she’d passed on private stories about Rooney to the press. And like Streisand – who sued a website for featuring an image of her house, thereby drawing the world’s attention to it – she believed going to court was the best way to control her image. She was wrong.Vardy traded private details of her husband’s colleagues and their wives in the hope of currying positive coverage in the media. And because of that, Mrs Justice Steyn delivered a verdict that was even more of a character assassination than Vardy’s own memorable description of Rooney to a Daily Mail journalist: “Arguing with Coleen Rooney would be as pointless as arguing with a pigeon: you can tell it that you are right and it is wrong, but it’s still going to shit in your hair.” Well, Rebekah, you’re covered in shit now. Continue reading...
Brisbane teenager built spyware used by domestic violence perpetrators across world, police allege
Jacob Wayne John Keen, 24, is alleged to have created hacking tool when 15 years old and sold it to more than 14,500 people
Elon Musk countersues Twitter over $44bn deal amid fresh legal action by shareholder
Musk’s 164-page filing is under wraps for now, as Twitter shareholder launches separate action to force entrepreneur to close the dealElon Musk has countersued Twitter, escalating his legal fight against the social media company over his bid to walk away from the $44bn purchase.Musk’s lawsuit was filed on Friday, hours after chancellor Kathaleen McCormick of the Delaware court of chancery ordered a five-day trial beginning 17 October to determine if Musk can walk away from the deal. Continue reading...
TikTok refused to host disguised account for Chinese government
Senior figures at social video app pushed back on request deemed ‘sensitive’, according to reportTikTok has said it refused an attempt by the Chinese government to open a disguised account on the platform for the purpose of spreading propaganda.The Chinese-owned social video app said the attempt was refused because the account would have violated its guidelines. Continue reading...
Amazon posts second quarterly loss in a row but shares rise on strong earnings
Sales up 7% in three months to June marking one of slowest growth periods in company’s history but still better than expectedAmazon reported its second quarterly loss in a row on Thursday but the company’s share price gained over 10% in after-hours trading on stronger than expected earnings.Sales for the three months ending in June increased by 7% to $121bn compared with $113.1bn in the second quarter of 2021. The increase marks one of the slowest growth periods for Amazon in its history but was better than expected. Continue reading...
Meta’s growth comes to screeching halt as company projects first revenue drop
The company in its second-quarter earnings report said it anticipates lower than predicted revenue of $26bn to $28.5bnFor the first time in nearly a decade, Meta’s explosive growth has come to a halt, as the Facebook parent company forecast its first decline in revenue since it went public.Meta, in its second-quarter earnings report on Wednesday, said it expects third-quarter revenue of between $26bn and $28.5bn – lower than the $30.52bn analysts predicted. Continue reading...
Tell us: what do you think of the new changes to Instagram?
We would like to hear your thoughts on the platform’s new designInstagram has been subject to a user backlash after it launched a series of changes designed to make it more like TikTok. The changes include pushing the platform’s TikTok-style “reels” videos and heavy promotion of the TikTok-style “remix” feature, which means users have struggles to find content from friends and family.Instagram’s boss, Adam Mosseri, was frank about the changes: “We’re going to continue to support photos, but I need to be honest: more and more of Instagram is going to become video over time.” Continue reading...
Meet the gaymers: why queer representation is exploding in video games
For decades, LGBTQ+ characters and stories were almost nonexistent – but now things have improved, and a new generation of queer players are finding themselves (and each other) in video gamesFresh from a drag performance featuring a gender-swapped Mario and Princess Peach chasing each other around on stage, after watching a burlesque performer disrobe to the Tetris theme, I am standing at the bar waiting for a drink, surrounded by people in fabulous outfits. Famous drag queen Asstina Mandella is here in a stunning dress; I am in a purple bisexual-colours suit and I still feel somewhat underdressed for the occasion. I am not used to this at video games events – back in the 00s, it was mostly men in black T-shirts with logos on them, and I was one of about three women in the room. But this is the first in-person Gayming awards, an event that celebrates queer representation in video games, and the huge and ever-growing queer community that plays them.This might not be what some people would think of as the gaming audience, but the fact is that just about everybody plays games now – two-thirds of all Americans, to pluck just one stat – and of course, queer people have always been part of that community. If anything, queer people are overrepresented in the gaming population. Fully 21% of all the people working in the games industry identify as LGBTQ+, according to a recent survey by sector champion Ukie. Until quite recently, though, this was not reflected in games themselves, whose makers and marketers seemed resolutely committed to making games starring either white heterosexual males shooting at things, or anthropomorphic animals. When I was growing up in the 90s, even female representation in games was dismal, let alone queer representation. Continue reading...
TechScape: What should social media giants do to protect children?
In this week’s newsletter: UK cybersecurity heads want companies like Apple to monitor suspicious activity on devices. It’s not the attack on privacy you might think it is
Playing video games has no effect on wellbeing, study finds
Research into gameplay habits of 40,000 people counters fears that gaming could harm mental healthTime spent playing video games has no effect on people’s wellbeing, a study from the University of Oxford has found, countering fears that gaming could be harmful to mental health.Unlike the vast majority of previous studies on the effect of video games on wellbeing, the Oxford team were able to track actual gameplay, rather than relying on self-reported estimates. Continue reading...
Pushing Buttons: do games have to be a neverending story?
Destiny, Call of Duty and other epics expect you to play not for hours but for years. This endless games monoculture isn’t just bad for players – it’s bad for innovation
Vinyl fantasy: how gamers fell in love with records
Gaming albums have been steadily rising in popularity since the early 2010s. Players and creators explain whyCaroline Grace has always enjoyed vintage technology. An IT tech in the Mid-Ohio Valley, they collect retro games, laser discs and cassette tapes, but mostly, vinyl records. Their collection is in the thousands, and hundreds of those are video game soundtracks. “I’ve been a big fan of games all my life,” says Grace. “Some of my earliest memories are playing games like Wonder Boy III: The Dragon’s Trap and Goof Troop with my dad and brother. I get positive feelings from listening to the Wonder Boy III music now. I have a lot of pleasant memories of playing it with my family back in the day.”The idea of buying video game soundtracks on vinyl may seem counter-intuitive: the most hi-tech digital entertainment medium meeting this fragile relic of the analogue era. But gaming albums have been steadily rising in popularity since the early 2010s. Partly that’s thanks to the wider vinyl revival, but it’s also due to the efforts of specialist record labels such as Data Discs, which produces beautiful albums based on vintage video games. “When we started the label in late-2014 there wasn’t really anyone releasing game soundtracks on vinyl,” says co-founder Jamie Crook. “We had been half-joking about trying to release Streets of Rage for the best part of a decade and we’re still surprised that no one else beat us to it. It just seemed abundantly clear that game soundtracks were going to be one of the next growth areas, alongside Japanese ambient, especially after the huge popularity of film soundtrack labels from 2012 onward.” Continue reading...
Elon Musk denies reported affair with wife of Google co-founder
Tesla chief rejects Wall Street Journal claims he had affair with Nicole ShanahanElon Musk has denied a Wall Street Journal report that claimed he had an affair with Nicole Shanahan, the wife of the Google co-founder Sergey Brin, accusing the news outlet of running “hit pieces” on him and Tesla.The chief executive of the electric carmaker tweeted on Monday rejecting the affair claim as “total BS”, adding that he and Brin were still friends. Continue reading...
Has Democrat John Fetterman found a way to beat the reality-TV politician?
The Pennsylvania Senate hopeful is wielding social media might against star power. His secret weapon? SnookiWhether it’s Ronald, Donald or Arnold, Americans are all too familiar with the phenomenon of the second-tier celebrity turned politician. So when the TV doctor Mehmet Oz decided to run for Senate in Pennsylvania, his background as a B-lister seemed well suited to the role.As he proudly notes in his official biography, Oz has won Emmys, has written eight bestsellers, and was featured on six seasons of The Oprah Winfrey Show. He is a master of traditional media. But now the daytime TV star is facing a Democratic opponent who has proved himself a media success story in his own right – though his area of expertise is Twitter, not television. Continue reading...
I was charged £72 because of Wizz Air’s own technical glitch
We couldn’t check in online so had to pay to use the airline’s deskOn 27 June my partner and I were booked on a 7.55am Wizz Air flight from Gatwick to Athens. On the Saturday before, I received an email telling me to check in online.After filling in all the necessary details and double-checking the information, the website said “something went wrong” and I was unable to complete the process. I tried several more times but could not get to the end. Continue reading...
Dine like Da Vinci, unleash your inner diva – 101 ways the arts can slightly improve your life
Follow the gospel of Larry David, go gaming on horseback, always carry a cushion, bin your cinema mates and learn Korean off the telly … Guardian writers present their best cultural life hacksIf you’re seeing something long and challenging, remember that having an alcoholic drink beforehand is asking for trouble. So be sure to do it. Continue reading...
100,000 happy pictures: a new tool in the cyber ‘arms race’ against child sexual abusers
The volume of child sexual assault material online is on the rise. An Australian project is crowdsourcing images of safe children so it can find those in dangerLeading Senior Constable Dr Janis Dalins is looking for 100,000 happy images of children – a toddler in a sandpit, a nine-year-old winning an award at school, a sullen teenager unwrapping a present at Christmas and pretending not to care.The search for these safe, happy pictures is the goal of a new campaign to crowdsource a database of ethically obtained images that Dalins hopes will help build better investigative tools to use in the fight against what some have called a “tsunami” of child sexual assault material online. Continue reading...
How to save money when you buy video games and consoles
Consider getting physical products, head for sales and beware dodgy resale sitesDownloading games is far more convenient than buying them on a disc these days but if you play on consoles, buying a physical copy often costs substantially less – especially a few weeks or months after a game comes out. Continue reading...
‘People get bored quickly’: how UK teens turned to social media for their news
As Ofcom confirms that young people now stay informed through Instagram and TikTok, we meet the online newshoundsIn early March, military experts reported that Russian tanks were sporting handwritten “Z” symbols. The letter, thought to be a staunchly pro-war symbol of Vladimir Putin’s invasion of Ukraine, was soon spotted at Russian bus stops, a school, then on a Russian gymnast’s uniform during a World Cup event at Qatar. On 8 March, 18-year-old TikToker Matt Welland explained the symbol’s meaning and its significance to his 2.4 million subscribers, along with the caption “the ‘Z’ symbol is more terrifying than you think”.The scale of the influence of social media personalities such as Welland in disseminating current affairs was revealed last week. An Ofcom report found that, for the first time, Instagram was the most popular news source among teenagers, used by 29% of them in 2022, while 28% used TikTok and YouTube. Continue reading...
TikTok is not the enemy of journalism. It’s just a new way of reaching people | Chris Stokel-Walker
The platform’s rise is best seen as the latest evolution in how we consume newsTwenty-three million people in the UK use TikTok every month. Enhanced by the pandemic and its impact on remote work, apps like TikTok and Instagram have become the digital equivalent of the watercooler. It’s where we talk about Love Island, the latest soaps, the dysfunction in our government and what’s going on in the world.So why are we so surprised that it’s a place people turn to for news? Continue reading...
Florida chef’s pink sauce videos stir up TikTok backlash
Chef Pii’s tips on how to use her $20-a-bottle condiment have won 40m views, she says, but many wonder what goes into itIt’s pink. It’s a sauce. It’s called, rather prosaically, Pink Sauce. And it’s doing a very good job of trying to break the internet right now.A Florida chef’s TikTok videos showing her dunking fried chicken, french fries and vegetables into her culinary creation have gone viral. Up to 40m views, she claims. Continue reading...
Twitter blames revenue slide on Elon Musk takeover uncertainty
Social media firm says 1% decline for three months to 30 June reflects uncertainty over acquisition bidTwitter has blamed a drop in revenue on uncertainty around Elon Musk’s chaotic takeover bid for the business and a weak advertising market.The social media company said revenue for the three months to 30 June was $1.18bn (£986m), a decline of 1% on the same period last year, which it said reflected “advertising industry headwinds associated with the macroenvironment” as well as “uncertainty related to the pending acquisition of Twitter” by the Tesla chief executive. Continue reading...
Google to be banned in Ukraine’s occupied Donetsk and Luhansk regions
Leader of self-proclaimed Donetsk People’s Republic claims search engine is promoting ‘terrorism and violence against all Russians’
Neopets security breach: users’ data reportedly stolen
Virtual pet site launches investigation but has not confirmed the scale of the alleged breach, amid reports hacker has taken database with user detailsThe popular virtual pet website Neopets says it has launched an investigation after a hacker breached its databases, with one website claiming the personal data of up to 69 million users may have been stolen.“Neopets recently became aware that customer data may have been stolen … it appears that email addresses and passwords used to access Neopets accounts may have been affected,” the website said in a statement issued on its official Twitter account on Thursday. Continue reading...
Google Pixel 6a review: this mid-range master is a true bargain
Top chip, brilliant camera, great software and solid battery life in a smaller body with a cheaper priceThe Pixel 6a is Google’s latest mid-range smartphone offering the same chips and performance as its top phones, but in a new, smaller body for a cheaper price.The phone costs £399 ($449/A$749), which is £200 less than the Pixel 6, but offers 80% of what you get with Google’s top models.Screen: 6.1in 60Hz FHD+ OLED (429ppi)Processor: Google TensorRAM: 6GBStorage: 128GBOperating system: Android 12Camera: 12.2MP + 12MP ultrawide, 8MP selfieConnectivity: 5G, eSIM, wifi 6E, NFC, Bluetooth 5.2 and GNSSWater resistance: IP67 (1m for 30 minutes)Dimensions: 152.2 x 71.8 x 8.9mmWeight: 178g Continue reading...
Amazon buys US medical provider as it cements move into healthcare
One Medical, the primary care organization, will be acquired by the e-commerce behemoth in a deal valued at roughly $3.9bnAmazon will acquire the primary care organization One Medical in a deal valued roughly at $3.9bn, marking another expansion for the retailer into healthcare services.The Seattle-based e-commerce giant said in a statement Thursday it is buying One Medical for $18 a share in an all-cash transaction. It’s one of Amazon’s biggest acquisitions, following its $13.7bn deal to buy Whole Foods in 2017 and its $8.5bn purchase of Hollywood studio MGM, which closed earlier this year. Continue reading...
Former US Coinbase employee and two others charged with insider trading
Cryptocurrency exchange manager and his brother arrested in Seattle in what is described as the first case of its kindA former Coinbase employee and two others have been charged in what federal authorities described as the US government’s first cryptocurrency insider trading case.Ishan Wahi, a product manager at the cryptocurrency exchange, and his brother Nikhil Wahi were arrested in Seattle on Thursday. They and a third defendant, their friend Sameer Ramani, who remains at large, also face civil charges from the US financial watchdog, the Securities and Exchange Commission (SEC). Continue reading...
Google under scrutiny over pledge to protect abortion location data
Researchers find movements can still be tracked despite firm’s vow to protect location history of people who visit abortion clinicsGoogle’s promise to protect the location history of users who visit abortion clinics is coming under scrutiny after researchers found that a user who had brief access to another user’s Android phone – such as a boyfriend logging into his girlfriend’s phone – could relatively easily monitor the user’s movements.The finding by Tech Transparency Project, a research arm of the non-profit Campaign for Accountability, comes weeks after Google announced in a blogpost that it would delete entries to sensitive locations – such as abortion clinics or domestic violence shelters – if its systems identified that someone has visited one of these places. The 1 July blogpost said the change would take effect “in the coming weeks”. Continue reading...
Facebook to restore chronological feed of posts from friends
Firm is splitting its News Feed over two tabs on its iOS and Android apps, separating its algorithmic curationFacebook is going back to basics, restoring a chronological news feed to its app to make it easier for users to keep up with posts from their friends.More than a decade after Facebook updated its patented News Feed to default to showing “top stories” rather than a chronological list of posts from friends and pages, the company is restoring the ability to “easily see the most recent posts from your friends, Pages and groups”. Continue reading...
Best podcasts of the week: What does it really take to be a football manager?
In this week’s newsletter: Follow Rotherham and Oxford’s coaches through their tense end of season run-ins in Moment of Truth. Plus: five of the best podcasts for gamers
Minecraft developers won’t allow NFTs on gaming platform
Mojang Studios says use of non-fungible tokens does not align with the game’s ‘values of creative inclusion and playing together’Minecraft will not allow non-fungible tokens (NFTs) to be used on the popular gaming platform, with the company describing them as antithetical to Minecraft’s “values of creative inclusion and playing together”.NFTs confer ownership of a unique digital item, typically an image or a video, with the ownership recorded on a decentralised digital register known as a blockchain. Continue reading...
TikTok is fastest growing news source for UK adults, Ofcom finds
App is used by 7% of adults for news with nearly half turning to TikTokers rather than conventional outlets for updatesWatch out Huw Edwards, the TikTokers are coming. The social video platform is the fastest growing news source for UK adults, according to a survey, but nearly half of people using it for current affairs turn to fellow TikTokers rather than conventional news organisations for their updates.TikTok is used by 7% of adults for news, according to the UK’s communications watchdog, up from 1% in 2020. The growth is primarily driven by young users, with half of its news followers aged 16 to 24. Continue reading...
Tesla sells 75% of its bitcoin as profits slump due to production challenges
CEO Elon Musk said the cryptocurrency sale was to maximize its cash position only, but prices still slid after Wednesday’s reportTesla’s second quarter of 2022 came to a shaky end as the electric carmaker reported a drop in profit after it struggled to meet demand due to a shutdown of its Shanghai factory and production challenges at new plants. The company also sold 75% of its bitcoin holdings, leading to a slide in the cryptocurrency price.Tesla’s second-quarter profit fell 32% from record levels in the first quarter, with the company reporting a $2.26bn net profit on Wednesday. Continue reading...
Mark Zuckerberg to face deposition over Cambridge Analytica scandal
The Meta CEO, and former COO Sheryl Sandberg will be questioned as part of a lawsuit filed on behalf of Facebook users in CaliforniaMark Zuckerberg, CEO of the Facebook parent company Meta, will face a six-hour deposition over the way the company handled user data relating to the Cambridge Analytica scandal, according to new court filings.The deposition comes as part of a lawsuit filed in a California court on behalf of Facebook users impacted by the platform’s partnership with Cambridge Analytica, a consulting firm accused of manipulating user data. Continue reading...
Amazon handed £1m UK tax credit as profits surge 60% to £204m
Tax benefit was part of £850m in tax credits provided to online retailer by governments across EuropeAmazon’s core UK division was handed a tax credit of just over £1m last year by HM Revenue and Customs despite the online retailer’s profits soaring by almost 60% to £204m.The tax benefit was part of €1bn (£850m) in tax credits provided to Amazon by governments across Europe, up from €56m a year before, according to accounts filed for the US company’s Luxembourg-based division. Continue reading...
Twitter wins first legal battle with Elon Musk as trial to go ahead in October
Judge in Delaware denies Tesla chief’s bid to delay trial, as Twitter seeks verdict that will force Musk to complete $44bn takeoverTwitter has won the first legal skirmish in its attempt to force Elon Musk to complete a $44bn (£36.7bn) takeover of the social media company, after a judge ruled that a trial will take place in October.Legal experts said the ruling in Delaware was good news for Twitter, which had asked for a fast-track process to settle the dispute. A Delaware judge said there was a “cloud of uncertainty” hanging over Twitter and accepted the company’s argument that a delay would cause severe damage to the business. Continue reading...
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