Microsoft and Meta stocks slip as investors demand more Tech Microsoft and Meta stocks have tumbled in after-hours trading despite both tech giants posting better-than-expected results yesterday. Microsoft reported a 16 per cent revenue increase to $65.6bn (£50.5bn) against a forecasted $64.5bn (£49.7bn), fuelled by its cloud services which grew by 33 per cent. Earnings per share (EPS) came in at $3.30 (£2.54), easily beating [...]
Lloyds boss Charlie Nunn says Meta is not doing enough to tackle scams Banking The chief executive of Lloyds Banking Group has joined calls for technology firms like Meta to do more to clamp down on a surge in scams originating from social media.
Revolut slams Meta for falling ‘woefully short’ in tackling scams Fintech Fintech giant Revolut has thrown its weight behind calls for social media firms to help reimburse scam victims, calling out Meta’s latest anti-fraud push for falling “woefully short”. The London-based banking app said on Thursday that it was “deeply concerned” Meta’s new UK bank data-sharing programme “does not address what’s required to tackle fraud”. Meta, [...]
Meta: Instagram owner to expand UK bank data scheme in anti-fraud push October 2, 2024 Meta is to partner with more UK banks for a data-sharing programme aimed at tackling fraud, as tech giants come under pressure to address a surge in scams on social media.
Mark Zuckerberg-backed Yoto almost doubles sales as loss cut September 23, 2024 Turnover at kids audio platform Yoto, which is backed by Mark Zuckerberg and his wife, almost doubled during its latest financial year as its pre-tax loss was cut, it has been revealed. The business, which is the creator of the Yoto Player and Yoto Mini for children, has posted a turnover of £50.9m for 2023, up from [...]
Telegram boss Pavel Durov charged: What next for social media moguls like Musk and Zuckerberg? August 29, 2024 Like his recent collection of topless Instagram photos, Pavel Durov, the founder of Telegram, is probably feeling slightly exposed right now under the scrutiny of global powers. He has just been charged by French authorities for allegedly allowing criminal activity to flourish on his platform. Durov has avoided jail time for now, out on a [...]
Zuckerberg regrets bowing to White House pressure during Covid-19 August 27, 2024 Meta boss Mark Zuckerberg has said he regrets bowing to the White House over content which it censored during the Covid-19 pandemic.
Meta: Watchdog greenlights changes to advertiser data rules on Facebook August 20, 2024 The UK’s competition watchdog has given the green light to new commitments from Meta to better protect the data of advertisers on Facebook. Since June 2021, the Competition and Markets Authority (CMA) has been looking into whether Meta has unfairly data from its advertising services to give its Facebook Marketplace an edge over competitors. After [...]
Can we stop AI from destroying the planet? August 16, 2024 AI is increasingly finding itself in the crosshairs of investors concerned about its environmental toll. Many are coming to terms with the fact that the technology supposedly leading us into a smarter future might be dragging the planet backwards when it comes to climate commitments. Big tech’s climate ambitions are hitting a rather inconvenient truth: [...]
Nvidia and Apple lead losses as trillions wiped from Nasdaq tech stocks August 5, 2024 Trillions of dollars have been wiped from the Nasdaq-listed tech giants taking a nosedive amid a global stock sell off, as fears of a US recession are causing investors to run for the hills. The so-called Magnificent Seven’s combined market capitalisation has lost at least $2.3t (£1.8t), equal to a 15 per cent slide from [...]