Facebook shares dip from high as investors fret over costs, future profit

Facebook reported surging quarterly profit and revenue on Wednesday, helped by its fast-growing mobile ad business. But its shares dipped from a record high in after-hours trading as investors showed some nervousness about future earnings. The world’s biggest online social network, which is nearing the five-year anniversary of its initial public offering, is searching for new types of advertising features to supplement its main revenue streams that it expects to cool off this year. Facebook is hiring moderators. But is the job too gruesome to handle? Read more Facebook’s shares…

Read More

Elon Musk wants name for new boring machine. Internet goes wild

Elon Musk needs a name for his new digging machine – so he asked the internet. And we all know how much the internet likes naming things. The Tesla CEO has a new venture called the Boring Company, which, rather than being a company about uninteresting things, is a tunnelling company aiming to help Los Angeles traffic by digging tunnels underneath the city. Last week a tunnelling machine was spotted: The cool stuff I see outside the office. Can't wait to see some tunnels! #theboringcompany #workperks A post shared by…

Read More

MPs vulnerable to cyberattacks after dissolution of parliament – report

MPs who are leaving the protection of parliament for the campaign trail will render the election significantly more vulnerable to hacking, leading security researchers have warned. According to Dr Udo Helmbrecht, executive director of the European Union’s Agency for Network and Information Security (ENISA), hackers have their best opportunity to intervene in democracies in the weeks running up to the election because parliament’s information security services are no longer overseeing their accounts. If hackers want to disrupt a democracy, elections are the time to do it, he said. As MPs…

Read More

Drone home: Amazon to triple R&D staff at Cambridge base

Amazon is to more than triple its research and development team in Cambridge working on tech innovations such as its Alexa digital assistant, delivery drones and Echo smart speaker. The US online retailer is opening a new building in the city with room for 400 experts in mathematical modelling, speech science, machine learning and “knowledge engineering”. Once full, the 60,000 sq ft centre adjacent to Cambridge train station will increase the number of Amazon tech experts in the city to 550. Amazon’s existing development centre in the city’s Castle Hill…

Read More

UK households’ savings fall to record low in warning sign for economy

British households ran down their savings to a record low at the end of 2016, raising fears that the UK is on course for a fresh consumer debt crisis in the wake of the Brexit vote. The saving ratio – which estimates the amount of money households have available to save as a percentage of their total disposable income – fell sharply in the fourth quarter last year to 3.3% from 5.3% in the third. It was the lowest since records began in 1963, according to the Office for National…

Read More

British rail is nationalised all over again – by foreign states

At Romford station, in the Essex centre of “taking back control”, there’s a choice of trains into London: those run by the Dutch, or those run by the Chinese. Anyone heading for nearby Basildon has to change at Upminster and pay a fare to the Italian firm that has been operating C2C since January. Welsh railways fell to German-owned Arriva long ago, while ScotRail is also in the hands of the Netherlands’ Abellio. The French, as part of Govia, own much of Britain’s biggest commuter franchises, including Southern Rail. Still,…

Read More