Companies


    • Facebook’s fortunes go from bad to worse

      Facebook’s fortunes go from bad to worse

      Last week Facebook announced  that some 50m accounts had been compromised as a hacker - or potentially multiple ones - accessed log-in credentials via the platform’s “View As” feature. The breach also affected approximately 40m other accounts who didn’t directly use that feature. Yet, there’s still lack of indication of who was behind the hack or how the stolen information may eventually be used.

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    • Facebook names new head of Instagram

      Facebook names new head of Instagram

      Facebook has announced a successor to Instagram’s head role. After the swift departure of Kevin Systrom and Mike Krieger, the tech giant has confirmed Adam Mosseri, formerly vice president of product at the company, as the replacement. Mosseri had previously been on the Facebook side of the company for nine years, working as a VP managing the company’s news feed. But in a slightly unusual twist, the announcement was initially made not by Facebook, but Instagram's departing co-founders.

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    • Elon Musk resigns as Tesla chairman

      Elon Musk resigns as Tesla chairman

      Elon Musk - the billionaire tech entrepreneur - resigns as chairman of Tesla, his electric carmaking company, and will pay a $20m fine to settle charges brought against him by the Securities and Exchange Commission. The settlement, which Elon reportedly agreed to “without admitting or denying the allegations of the complaint,” allows him to remain CEO of the company, but keeps him from being re-elected as chairman for another three years. He will have to relinquish his role as chairman in 45 days of the resolution.

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    • SiriusXM buys streaming pioneer Pandora

      SiriusXM buys streaming pioneer Pandora

      The American satellite radio company SiriusXM is buying California-based streaming music service Pandora Media in an all-stock $3.5bn deal that would create the world’s largest audio entertainment company, both companies announced on Monday. The final deal is expected to close in 2019's first quarter, with both brands continuing to exist, along with their respective products and services. Still, it would need to be reviewed by antitrust regulators and shareholders.

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    • Instagram founders leave Facebook

      Instagram founders leave Facebook

      Kevin Systrom and Mike Krieger, the co-founders of the photo-sharing app Instagram, have resigned and plan to leave the company in the coming weeks, adding to the challenges facing Instagram’s parent company, Facebook. Systrom, who is Instagram’s chief executive, and Krieger - the chief technical officer, have already notified Instagram’s leadership team and Facebook on Monday of their decision to leave. Later that day Systrom confirmed the resignations publicly in a company blog post, saying they were "now ready for the next chapter."

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    • Michael Kors takes control of Italy's Versace: sources

      Michael Kors takes control of Italy's Versace: sources

      US fashion group Michael Kors Holdings Ltd has agreed to take control of Italy’s Versace in a deal that could value the company at $2 billion, sources familiar with the matter said on Monday. The deal comes as budding luxury conglomerates, including Michael Kors’ US rival Tapestry, owner of Coach and Kate Spade, are trying to make in-roads into an industry still dominated by major European players, including Louis Vuitton owner LVMH.

       

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    • SAP, Microsoft and Adobe announce data alliance

      SAP, Microsoft and Adobe announce data alliance

      Business software companies SAP, Microsoft and Adobe said on Monday they were forming a data alliance that will make it easier for clients running their applications to get a better overview of the customer. The partners announced the Open Data Initiative at a Microsoft conference in Orlando, Florida, saying it would help break down information silos that make it hard for businesses to make the most of their customer base.

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    • Comcast outbids Fox for Sky

      Comcast outbids Fox for Sky

      American cable giant Comcast outbid 21st Century Fox and its powerful backer, Disney with a winning bid of about $40bn for control of European broadcaster Sky following an extraordinary, three round auction managed by UK's Takeover Panel. In the auction's final round, each company had to submit a "sealed" offer, which was made public Saturday evening by the Takeover Panel. The battle is over 61% control of Sky since 21st Century Fox already owns the other 39%.

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    • Adobe snars Marketo for almost $5bn

      Adobe snars Marketo for almost $5bn

      A week ago rumors were flying that Adobe would be buying Marketo, and today Adobe officially announced the purchase of the marketing automation firm from private equity company Vista Equity Partners for $4.75bn. After Adobe bought Magento in May for $1.6bn, the deal now gives the tech giant a strong position in enterprise marketing as it competes with Salesforce, Microsoft, Oracle and SAP.

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    • EU probes BMW, Daimler, VW over alleged emissions collusion

      EU probes BMW, Daimler, VW over alleged emissions collusion

      The European Commission has opened an in-depth investigation into whether German automakers BMW, Daimler and Volkswagen Group (Volkswagen, Audi, Porsche) breached EU antitrust rules by colluding to avoid competition on the development and roll-out of technology to clean the emissions of petrol and diesel passenger cars. The move marks a fresh blow to the scandal-hit industry three years after the notorious 'Dieselgate' scandal.

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