Printer maker Xerox ‘in $33bn bid for HP’ November 6, 2019 US printer maker Xerox has made a roughly $33bn (£25.7bn) cash-and-stock offer for personal computer maker HP, a move on a company more than three times its size, people familiar with the matter said on Wednesday. Five days ago Enrique Lores, previously the president of HP’s imaging and printing business, officially took over as its [...]
Qualcomm’s upbeat profit forecast, results send shares higher November 6, 2019 Qualcomm has forecast current-quarter profit above Wall Street expectations and beaten estimates for fourth-quarter revenue from its closely watched licensing business, sending its shares up five per cent in extended trading. The world’s biggest supplier of mobile phone chips expects between 1.75bn and 1.85bn smart devices with modem chips, including 175m to 225m 5G handsets, [...]
Airbnb has promised to verify all of its properties – 11 years after it was founded November 6, 2019 Airbnb has said it will verify all properties on its website, after an investigation uncovered a series of scam listings. Last month, Vice News revealed a string of false or misleading rental properties posted on the platform. The tech company said it would review every property by December next year. It also said it would [...]
California demands Facebook hand over documents in state investigation November 6, 2019 California is investigating Facebook’s disclosure of user data to Cambridge Analytica, it emerged in a court filing demanding the firm respond to a subpoena. Facebook is already being investigated by 47 states in the US. Some have raised concerns that Facebook and other tech giants engage in anti-competitive practices, expose consumer data to thieves and [...]
Facebook executives planned ‘switcharoo’ on data policy change November 6, 2019 Facebook began cutting off access to user data for app developers from 2012 to squash potential rivals while presenting the move to the general public as a boon for user privacy, according to court documents reviewed by Reuters. Some executives at the world’s biggest social network appeared to refer to the strategy of promoting a [...]
Revolut’s information security chief has left the firm after just two months in the job November 6, 2019 Revolut’s chief information security officer (CISO) Dinis Cruz has quit less than two months after he joined the firm. Cruz announced last week that he will leave the challenger bank this month, in a move described as being “by mutual agreement”. Read more: Martin Gilbert to step down from Stand Life and join Revolut He said [...]
Vision Fund’s Wework splurge drags Softbank to $6.4bn loss November 6, 2019 Softbank’s Vision Fund’s soured bets on tech prospects like Uber and Wework saw the fund lose $8.9bn and drag its parent company to its first quarterly loss in 14 years today. Softbank’s high profile splurge on Wework saw the company fall to a $6.4bn quarterly loss in results revealed today. Read more: Wework hits the [...]
Cybersecurity firm Sophos posts loss ahead of £3bn sale November 6, 2019 Cybersecurity firm Sophos today posted a loss for the first half of the year, blaming restructuring and legal costs. The UK listed firm is set to be taken private after accepting a £3bn takeover bid from US private equity firm Thoma Bravo last month. It today announced a loss before tax of $1.5m (£1.16m) for [...]
Not all engineers wear hard hats and high-vis jackets November 6, 2019 What do prosthetic limbs, cosmetics, clean water, YouTube, and biodegradable plastic alternatives have in common? None of them would exist without engineers – but that would likely come as a surprise to most people. Unfortunately, we suffer from narrow and outdated stereotypes of what engineers do and the role they play in society. And this [...]
Uber shares hit record low as early investors prepare for chance to sell off November 5, 2019 Ride hailing firm Uber’s shares hit a record low today, as shareholders geared up for the expiry of its Initial Public Offering (IPO) lock-up, when early investors will be allowed to sell their stocks. Uber’s share price fell to lows of $27.97, more than nine per cent down, eventually closing at $28.02. Read more: Will Uber’s [...]
