I knew the big Mark Zuckerberg speech was coming. It always does. Scandals involving Facebook tend to follow a well-worn pattern: Throughout the social network’s short history, when the company has felt pummeled by users or lawmakers or shareholders over one of the dozens of controversies that have plagued its rise, there comes a moment […]
Read moreA global investor group on Friday called for an independent investigation into a cyber breach at the U.S. Securities and Exchange Commission (SEC) and urged the regulator to delay new data-gathering rules until it could assure investors that its computer systems were secure. Wall Street’s top regulator came under fire on Thursday after admitting hackers […]
Read moreAfter losing a massive deal with Apple, chip company Imagination will sell itself for $742.5 million
British firm Imagination Technologies said on Friday CBFI Investment will buy the company for a price of 182 pence per share, valuing it at about 550 million pounds ($742.5 million). CBFI currently has no intentions of cutting any jobs after the proposed merger, the companies said. In June, Imagination Technologies put itself up for sale […]
Read moreUber’s CEO told employees they need to reflect on the “serious consequences” of the company’s bad reputation, in light of a battle with London regulators. Uber lost its license this week to operate in London, beginning in October. Transportation regulators said the decision was made “in relation to a number of issues which have potential […]
Read moreOn Wednesday, in response to a ProPublica report that Facebook enabled advertisers to target users with offensive terms like “Jew hater,” Sheryl Sandberg, the company’s chief operating officer, apologized and vowed that the company would adjust its ad-buying tools to prevent similar problems in the future. As I read her statement, my eyes lingered over […]
Read moreMark Zuckerberg will sell a large number of Facebook shares over the next 18 months in sales that would be worth between $6 billion and $12.8 billion based on the stock’s current price. The intention to sell between 35 million and 75 million shares was disclosed in a Facebook securities filing late Friday. Proceeds of […]
Read moreUnder investor pressure, Facebook is squashing a proposed ownership structure that would allow CEO Mark Zuckerberg to retain voting control of the company — even as he sold millions of his shares of company stock. Last year, some shareholders filed a class action lawsuit to block Facebook from issuing reclassified C shares, which would allow […]
Read moreFacebook on Friday settled a lawsuit over issuing reclassified shares that some investors argued would decrease the value of their investment. The class action shareholder lawsuit was intended to block Facebook from issuing reclassified C shares, which some investors argued could cause shares to lose billions of dollars of value when they were traded. The […]
Read moreFor some older people, just downloading an app or successfully navigating certain websites might seem like cause for quiet celebration. But not Shirley M. McKerrow, a retired business owner and politician from Darwin, Australia. Ms. McKerrow, who is 84, revels in the thought of learning to develop those same apps and websites. Last year, she […]
Read moreApple shed more than $50 billion from its market value in the days since it unveiled its latest line of products, according to CNBC analysis of FactSet data. The company released a new line of products on Sept. 12: The iPhone X, iPhone 8, iPhone 8 Plus, Apple TV 4K, and Apple Watch Series 3. […]
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