Facebook owner Meta Platforms saw its market value drop by more than $230bn (£169bn) on Thursday, in a record daily loss for a US company. Its shares fell 26.4% after quarterly figures disappointed investors. Meta also said that Facebook’s daily active users (DAUs) had declined for the first time in its 18-year history. The drop
The co-founder of fitness brand Peloton will step down from running the company as he plans to cut thousands of jobs. John Foley, CEO of the firm for 10 years, will be succeeded by Barry McCarthy, former chief financial officer of Spotify. Despite the change, one of Peloton’s biggest investors doubled his orders to sell
The Meta Oversight Board has advised the social network to change its policy on allowing people’s addresses to be shared, even if the information is considered public. Meta requested the advice last year, the first time it has asked the board to help define one of its policies. Follow a series of social media leaks
Japanese conglomerate SoftBank has called off its planned sale of UK microchip designer Arm to US tech group Nvidia. When the deal was first announced in September 2020, it was valued at around $40bn (£29.6bn). SoftBank now aims to float Arm’s shares on the stock market by the end of March next year. The planned
Boris Johnson has insisted his government takes online fraud seriously, after failing to include it in crime statistics. The prime minister was reprimanded last week by a watchdog for claiming crime had fallen by 14%, which is only correct if fraud is excluded. Sir Keir Starmer accused him of “turning a blind eye to swindlers”
The US Department of Justice seized more than $4 billion worth of stolen bitcoins (£2.9 billion), the largest such seizure ever made. Officials also charged two people Tuesday with trying to launder the money, stolen by a hacker who breached a cryptocurrency platform in 2016. The hacker allegedly made off with nearly 120,000 Bitcoin. Valued
After years of a major regulatory fight in the UK, US and EU, what would have been the biggest computer chip deal in history is now dead in the water. But the new boss of Arm, the Cambridge-based company often described as one of the UK’s biggest tech success stories, is optimistic. And while he
Samsung has announced a range of new Galaxy smartphones, offering improved cameras and the option of a stylus. The firm spoke about the use of recycled materials, such as reused fishing nets and used water bottles. His “Galaxy for the Planet” is a five-year plan to eliminate plastics in packaging and prevent manufacturing waste from
