Facebook CEO Mark Zuckerberg rejected the idea that fake news on the social network influenced the U.S. presidential election and said echo-chambers aren't really a problem on the site, according to Bloomberg. The company co-founder was responding to criticism following Donald Trump's victory in the elections, from people who argued the company allowed false information to run rampant on its site and that its algorithm tended to amplify the voices people wanted to hear, instead of providing a full picture of what was going on.
Alibaba broke its Singles’ Day sales record with room to spare, offering assurances about the strength of the Chinese consumer despite the nation’s economic slowdown, according to Bloomberg. Sales on its e-commerce platform reached 102 billion yuan ($15 billion) shortly before 8 pm in China, easily topping last year’s total of 91.2 billion yuan with about four hours left to run.
Google’s strategy of giving away mobile-phone software will be at risk if European Union antitrust regulators order it to change distribution pacts with phone makers and telecom operators, according to Bloomberg. Google is telling the EU that the Android operating system "hasn’t hurt competition" when it’s installed on phones and tablets for free and under strict conditions, Google General Counsel Kent Walker said in the blog.
Access to LinkedIn will be blocked in Russia after the U.S. social network failed to move personal data storage to the country, according to Bloomberg. Conversely, services including Google, EBay, Booking.com and Uber have taken steps to move personal data storage to Russia, the country’s communications watchdog Roskomnadzor has said.
Chinese internet companies face a new reality after Donald Trump’s surprise victory as U.S. president-elect, and Alibaba Group Holding Ltd. has the most to lose, according to Bloomberg. On the campaign trail, Trump promised to upend global trade, saying that China is “ killing us” on trade policy and proposing tariffs on Chinese goods of as much as 45 percent.
GoPro shares tumbled as much as 10 percent after the company said it’s recalling about 2,500 of its new Karma drones, dealing another blow to already dim prospects for the holiday season, according to Bloomberg. In a “very small number of cases” GoPro drones bought since Oct. 23 lost power, the company said in a statement.
U.S. officials pledged their commitment to a trans-Atlantic data transfer pact that companies around the world depend on, as uncertainty grew over whether this would remain the case after Donald Trump’s victory in the U.S. presidential election, according to Bloomberg. “We have a real expectation that a new administration would come in and follow through on” what’s been done, Ted Dean, deputy assistant secretary for services at the U.S. Department of Commerce told a privacy conference in Brussels.
Irish Finance Minister Michael Noonan will take his fight over Apple’s record 13 billion-euro tax bill to a European Union court, potentially triggering years of litigation, according to Bloomberg. The nation will file its appeal against the European Commission’s decision to force Ireland to claw back alleged tax subsidies, in a case that will test the EU’s powers to use state aid law in what governments argue are national affairs.
Steve Ballmer is pretty bummed out about the election, according to Bloomberg. A self-proclaimed "numbers guy," Ballmer said the truth is getting lost in the political rhetoric, and he wants to arm citizens with data to defend against lies by the campaigns. "Nobody seems to care about the facts," he said.
Microblink, the company known for innovative applications such as Photomath, has recorded another great success. Their solution blinkID was implemented for the US presidential election. The Croatian know-how will in thus contribute to this great event, which will affect the lives of many people.
Samsung plans to equip its next Galaxy S smartphones with a Siri-like digital assistant, seeking to make a comeback after the global debacle that precipitated the death of its flawed Note 7 lineup, according to Bloomberg. Samsung, which last month acquired U.S.-based artificial-intelligence software company Viv Labs, said the Galaxy S8 slated for next year will come with AI-enabled features “significantly differentiated” from those in the market, such as Apple’s Siri or Google.
China has green-lit a sweeping and controversial law that may grant Beijing unprecedented access to foreign companies’ technology and hamstring their operations in the world’s second-largest economy, according to Bloomberg. The Cyber Security Law was passed by the Standing Committee of the National People’s Congress, China’s top legislature, and will take effect in June.
A study of more than 10,000 employment offers by Hired show that women in U.K. technology jobs are offered less money than men at every level, making the size of the gender pay gap multiply as they advance, according to Bloomberg. The median U.K. salary for women in technology fields like software engineering was 9 percent less than that for men, according to the firm, a website focusing on technology jobs.
Samsung is recalling about 2.8 million washing machines in the U.S. amid reports that the top of the machine can become detached during use, according to Bloomberg. The recall comes about a month after the company said it is discussing potential safety issues with some of its washers with the U.S. Consumer Product Safety Commission.
European Union Digital Economy Commissioner Guenther Oettinger apologized for making comments about Chinese and other people that he said created “bad feelings”, according to Bloomberg. The conciliatory step by Oettinger, who is German Chancellor Angela Merkel’s appointee to the European Commission, aims to stem political fallout from a speech last week in Hamburg in which he reportedly referred to Chinese people as “slit eyes.”
TAG Heuer is opening an office in Silicon Valley, according to Bloomberg. This is the first time a big Swiss watchmaker has expanded into the cradle of the U.S. technology sector and cementing its smartwatch alliance with Google and Intel. The office, which opened Nov. 1 and is located on Intel’s campus in Santa Clara, California, will house about a dozen research and development employees, according to Chief Executive Officer Jean-Claude Biver.
Facebook has spent less than five years as a public company, yet its market value is already in the global big leagues. It's now also entering the big leagues of spending, a position that bears watching, according to Bloomberg. The three highest-spending operators of web and cloud computing services collectively dole out more than $20 billion in cash each year to buy computer equipment and run the digital data centers that are the engines of the world's internet hangouts. Facebook is joining this capital expenditure superpower team.
GoPro followed Fitbit in saying it expects a lousy holiday season, leaving investors wondering whether creators of consumer fads like action cameras and fitness trackers can mature into lasting companies, according to Bloomberg. GoPro, known for its cube-shaped cameras, lowered its forecast for full-year sales and missed analysts’ estimates for revenue in the third quarter.
Facebook shares slumped the most in nine months after executives suggested the company probably won’t be able to keep up with its explosive pace of growth much longer, according to Bloomberg. The stock dropped as much as 5.5 percent Thursday morning after two sobering comments on its conference call the night before.
Google poured scorn on European Union allegations it skewed shopping search results to favor its own services and said regulators have failed to see that the search-engine giant is competing head on with e-commerce giants Amazon and EBay, according to Bloomberg. Google said that the EU’s allegations lack evidence and would ultimately harm users in favor “of a small number of websites,” in a blog posting detailing its response to European Commission antitrust objections over its comparison-shopping and AdSense services.
Amazon was sued by Illinois delivery drivers who say the company failed to pay them overtime for hauling its goods, according to Bloomberg. Among the questions the judge will have to answer is whether they actually worked for Amazon or not. “Amazon controls everything, without a shadow of a doubt,” says Theron Bradley, a former employee of Amazon contractor Silverstar who’s one of the named plaintiffs in the proposed class action.
ASML Holding agreed to buy about a quarter of a Carl Zeiss AG unit for 1 billion euros in cash as it begins to develop a new optical system for the next generation of semiconductor machines, according to Bloomberg. Europe’s biggest semiconductor-equipment maker will acquire the stake in Carl Zeiss SMT and invest 220 million euros in the unit’s research and development and make 540 million euros in other related investments over the next six years, the Veldhoven, Netherlands-based company said in a statement.
After careful consideration of the shortlisted best 25 submissions, the jury of the HR Transformation Challenge, a competition for innovative HR leaders in Central and Eastern Europe powered by SAP SuccessFactors, is announcing the finalists. Instead of four intended, five of the best and most transformative projects in HR were chosen.
Microsoft unveiled a corporate team-chat service that works with its cloud-based Office and Skype products, aiming to take on Slack and Atlassian’s HipChat in a growing market, according to Bloomberg. The new product is "designed to facilitate real-time conversations and collaboration while maintaining and building up that institutional knowledge of a team," said Chief Executive Officer Satya Nadella. The product has team chat, private messages and voice and videoconferencing.
Amazon is weighing a bid for a stake in Dubai-based online retailer Souq.com FZ as the e-commerce giant seeks to expand in the Middle East, according to Bloomberg. The stake, representing at least 30 percent of the company, is also drawing interest from private equity firms and regional, family-owned companies seeking to expand into web sales, the people said, asking not to be identified as the information is private.
Broadcom, whose chips are used in Apple’s iPhone and TV set-top boxes, agreed to buy Brocade Communications Systems for $5.9 billion including debt to capitalize on booming demand for cloud computing and the data centers that deliver it, according to Bloomberg. Broadcom is acquiring Brocade for technology that links computer-storage systems and allows the fast transfer of data, the company said in a statement today.
IAB (Interactive Advertising Bureau) announced today that digital advertising revenues in the United States for the first half of 2016 have reached an all-time high, scaling to $32.7 billion according to the latest IAB Internet Advertising Revenue Report released by the industry trade group and prepared by PwC US. This represents a 19 percent increase over last year’s then record-setting half-year revenues of $27.5 billion.
IBM announced it acquired the Expert Personal Shopper (XPS) division of Fluid, a leading innovator in digital customer experiences. The acquisition includes the XPS solution, a dialogue-based product recommendation platform developed by Fluid that applies the power of IBM Watson to personalize the customer experience and improve product discovery. The XPS solution and several key members of the XPS team will become part of IBM iX (Interactive Experience).
Sony’s second quarter profit missed estimates, as a one-time charge and stronger yen weighed on profit from financial services and PlayStation games, according to Bloomberg. Operating profit in the period ended September was 45.7 billion yen ($436 million). That compares with the 49.7 billion yen average of analysts’ estimates compiled by Bloomberg before the company disclosed a 33 billion yen charge from the sale of its unprofitable battery unit to Murata.
YouTube struck a deal with German royalty-collection group Gema to pay licensing fees and unblock thousands of music videos in Europe’s biggest economy after seven years of legal battles, according to Bloomberg. The agreement means that about 70,000 musicians and songwriters represented by Gema will get paid if their content is watched on YouTube, Gema said in a statement. The deal may enable YouTube to introduce its Red music and video subscription service in Germany, which the agreement also covers, Gema said.