Elon Musk’s Tesla loses more than $5bn in value as shares plummet July 25, 2019 Tesla’s valuation dropped by more than $5bn when markets opened this afternoon as investors reacted to the firm’s disappointing second-quarter results. Shares in Elon Musk’s firm plunged more than 13 per cent to just under $229 after figures for revenue and profit margin fell short of expectations. Read more: Tesla revenues fall short of expectations [...]
Sage shares fall as it warns of slipping license software sales July 25, 2019 Sage’s share price has dipped 12 per cent after the British IT firm revealed traditional software sales fell over the first nine months of the year. Sage’s core software revenue dropped 15.5 per cent year on year to £195m, it said today, blaming underperforming sales for its old X3 as it transitions to its cloud-based [...]
Samsung Galaxy Fold ‘ready for launch’ after screen fix July 25, 2019 Samsung today said its foldable smartphone will be ready for launch from September after problems with the device’s screen caused its release date to be delayed. Read more: Samsung cuts output at its last Chinese smartphone factory The Galaxy Fold, which is the firm’s first foldable phone, was due to be released in April, but [...]
Facebook beats estimates after record $5bn fine over privacy violations July 24, 2019 Revenue at Facebook in its second quarter has topped analysts’ estimates, hours after it agreed to pay a record $5bn penalty to the US Federal Trade Commission (FTC) relating to violations of its users’ privacy rights. In the second consecutive quarter for beating expectations, Facebook’s revenue rose to $16.9bn from $13.2bn a year ago, surpassing [...]
Tesla revenues fall short of expectations despite record cars built July 24, 2019 Electric car company Tesla posted second-quarter revenue below analysts’ expectations, pushing its shares down 10 per cent to $239.24 in after-hours trading. Read more: Tesla shares rally as firm makes record number of deliveries Total revenues climbed to $6.35bn (£5.09bn) from $4bn a year earlier, but this was below the $6.41bn expected by analysts. Yet [...]
Space, the investment frontier: The companies that are reaching for the stars July 24, 2019 When Neil Armstrong was the first man to walk on the moon 50 years ago, space was the exclusive domain of two superpowers. Now it has become perhaps the ultimate competitive arena for two tech giants — not to mention a host of other private enterprises that see untold promise and profits in reaching for [...]
US opens industry-scale tech giant antitrust probe July 23, 2019 The US Department of Justice is to open an investigation into whether the activities of major tech firms are anti-competitive. The review will explore “whether and how market-leading online platforms have achieved market power and are engaging in practices that have reduced competition, stifled innovation, or otherwise harmed consumers,” the department said tonight. The probe [...]
Snap boosts revenue and users with new “augmented reality” features July 23, 2019 Snapchat parent company Snap boosted its user numbers and revenue in the second quarter of the year as customers lapped up its “augmented reality” filters, although it is yet to turn a profit. Read more: Snap smashes expectations with narrowed losses and surprise user additions Revenue at the US social media firm rocketed by 48 [...]
Apple in ‘advanced talks’ to buy Intel’s smartphone chip business July 23, 2019 Apple is said to be in advanced talks to buy Intel’s smartphone-modem chip business in a deal worth at least $1bn (£804m). Read more: Apple boss Tim Cook brands reports he fell out with Jony Ive ‘absurd’ The tech giant is discussing the purchase with the chipmaker and a deal could be reached in the [...]
Politicians need to wake up to the risks of artificial superintelligence July 23, 2019 Politicians aren’t very good at thinking about more than one thing at a time. Take Brexit as an example, if you needed one. Everything other than our proposed exit from the European Union – and who will be the Prime Minister to lead us through it – has been downgraded to an inconvenient side-show. This [...]