Silicon Valley

Facebook says hackers accessed data from 29 million accounts
2018-10-12 17:50:55 UTC
NEW YORK (AP) — Facebook says hackers accessed data from 29 million accounts as part of the security breach disclosed two weeks ago. The exact number hadn’t been known before. Originally Facebook said 50 million accounts could have been affected, but Facebook didn’t know if they had been misused. The hackers accessed name, email addresses or phone numbers from those 29 million accounts. For 14 million of those accounts, hackers got even more data, such as hometown, birthdate, the last 10 places they checked into or 15 most recent searches. One million accounts were affected but hackers didn’t gain information. The social media servic...
Dominated by men: Amazon scraps tool that showed bias against women
2018-10-11 21:53:47 UTC
SAN FRANCISCO (Reuters) - Amazon.com Inc’s (AMZN.O) machine-learning specialists uncovered a big problem: their new recruiting engine did not like women. The team had been building computer programs since 2014 to review job applicants’ resumes with the aim of mechanizing the search for top talent, five people familiar with the effort told Reuters. Automation has been key to Amazon’s e-commerce dominance, be it inside warehouses or driving pricing decisions. <blockquote><h2>Amazon’s experimental hiring tool</h2>The company’s experimental hiring tool used artificial intelligence to give job candidates scores ranging from one to fiv...
Toyota to invest about $500 million in Uber Technologies
2018-08-28 01:30:16 UTC
(Reuters) - Toyota Motor Corp will invest about $500 million in Uber Technologies Inc [UBER.UL] to jointly work on developing driverless vehicles, the Wall Street Journal reported on Monday, citing people familiar with the matter. Toyota and Uber were not immediately available for comment. <hr>Reporting by Arunima Banerjee in Bengaluru; Editing by Shailesh Kuber<hr>
CEOs: Trump's Immigration Policy Hurts U.S. Economy
2018-08-24 01:13:53 UTC
(Reuters) - A group of chief executive officers at the largest U.S. companies expressed serious concern about the Trump administration’s immigration policy and said the rules increase uncertainty and undermine economic growth. In the letter signed by 59 CEOs including Tim Cook of Apple Inc (AAPL.O), JPMorgan Chase & Co’s (JPM.N) Jamie Dimon and Doug Parker of American Airlines (AAL.O), the executives said that many of their employees were now facing uncertainty due to issues such as ‘inconsistent immigration decisions’ that would likely curtail work permits for spouses of skilled immigrants. “As the federal government undertakes its ...
Apple became the first $1 trillion listed US company
2018-08-02 18:06:54 UTC
SAN FRANCISCO (Reuters) - Apple became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications. The tech company’s stock jumped 2.8 percent to as high as $207.05, bringing its gain to about 9 percent since Tuesday when its reported June-quarter results above expectations and said it bought back $20 billion of its own shares. Started in the garage of co-founder Steve Jobs in 1976, Apple has pushed its revenue beyond the economic outputs of P...
Plunge in Facebook shares rattled Amazon options market
2018-07-26 18:56:45 UTC
SAN FRANCISCO/NEW YORK (Reuters) - A plunge in Facebook Inc shares rattled the Amazon.com Inc options market on Thursday, with the social network’s fellow FAANG company due to report quarterly results later in the day. Facebook on Wednesday warned about a margin hit as revenue growth slows and user privacy costs climb, and its 20 percent share drop heightened focus on the online retailer, already a closely watched stock. Amazon was the second-biggest decliner in the so-called FAANG group of high-flying tech companies, but Facebook’s second-quarter earnings also cast a pall on shares of Apple Inc, Netflix Inc and Google parent Alphabe...
Tesla in 'Autopilot' mode crashes into parked police vehicle
2018-05-29 21:53:47 UTC
WASHINGTON (Reuters) - The driver of a Tesla Inc (TSLA.O) vehicle crashed into an unoccupied, parked police vehicle in Laguna Beach, California, on Tuesday and the driver told investigators the Tesla was in “Autopilot” mode at the time, a police spokesman said. The driver suffered minor injuries, Laguna Beach Sergeant Jim Cota said. Asked about Tuesday’s crash, Tesla said, “When using Autopilot, drivers are continuously reminded of their responsibility to keep their hands on the wheel and maintain control of the vehicle at all times. Tesla has always been clear that Autopilot doesn’t make the car impervious to all accidents.” <hr>...
EU privacy law: Companies to be more attentive to user data
2018-05-25 06:40:19 UTC
BRUSSELS (Reuters) - New European privacy regulations that go into effect on Friday will force companies to be more attentive to how they handle customer data, while bringing consumers both new ways to control their data and tougher enforcement of existing privacy rights. The European Union General Data Protection Regulation (GDPR) replaces the bloc’s patchwork of rules dating back to 1995 and heralds an era where breaking privacy laws can fetch fines of up to 4 percent of global revenue or 20 million euros ($23.48 million), whichever is higher, as opposed to a few hundred thousand euros. Many privacy advocates around the world have ...
Facebook tracks people whether they have accounts or not
2018-04-15 17:05:17 UTC
SAN FRANCISCO (Reuters) - Concern about Facebook Inc’s (FB.O) respect for data privacy is widening to include the information it collects about non-users, after Chief Executive Mark Zuckerberg said the world’s largest social network tracks people whether they have accounts or not. Privacy concerns have swamped Facebook since it acknowledged last month that information about millions of users wrongly ended up in the hands of political consultancy Cambridge Analytica, a firm that has counted U.S. President Donald Trump’s 2016 electoral campaign among its clients. Zuckerberg said on Wednesday under questioning by U.S. Representative Ben...
Valuable Public Company: Amazon appears to beat Apple
2018-03-08 20:45:23 UTC
SAN FRANCISCO (Reuters) - Apple Inc, the world’s most valuable publicly listed company, is in danger of being beaten by Amazon.com Inc to the $1 trillion mark. Wall Street’s optimism about last year’s 10th anniversary iPhone had propelled Apple’s stock 24 percent higher over the past 12 months, giving it a market capitalization of $893 billion. That is $141 billion more than the $752 billion market value of Amazon, the world’s second most valuable publicly listed company, but Amazon has been closing the gap. Amazon’s stock has surged 83 percent over the past year, bolstered by scorchingly fast revenue growth as more shopping mov...
BlackBerry sues Facebook, WhatsApp, Instagram over messaging patents
2018-03-06 21:16:34 UTC
BlackBerry filed a patent infringement lawsuit against Facebook and its WhatsApp and Instagram apps, arguing that they copied technology and features from BlackBerry Messenger. Litigation over patent infringement is part of BlackBerry Chief Executive John Chen’s strategy for making money for the company, which has lost market share in the smartphone market it once dominated. “Defendants created mobile messaging applications that co-opt BlackBerry’s innovations, using a number of the innovative security, user interface, and functionality enhancing features,” Canada-based BlackBerry said in a filing with a Los Angeles federal court. ...
Twitter intends to notify users exposed to Russian propaganda
2018-01-17 21:49:39 UTC
WASHINGTON (Reuters) - Twitter may notify users whether they were exposed to content generated by a suspected Russian propaganda service, a company executive told U.S. lawmakers on Wednesday. The social media company is “working to identify and inform individually” its users who saw tweets during the 2016 U.S. presidential election produced by accounts tied to the Kremlin-linked Internet Research Army, Carlos Monje, Twitter’s director of public policy, told the U.S. Senate Commerce, Science and Transportation Committee. A Twitter spokeswoman did not immediately respond to a request for comment about plans to notify its users. Face...
iPhone overuse could hurt children’s developing brains
2018-01-09 04:39:42 UTC
NEW YORK (Reuters) - Apple Inc investors are shrugging off concerns raised by two shareholders about kids getting hooked on iPhones, saying that for now a little addiction might not be a bad thing for profits. Hedge fund JANA Partners LLC and the California State Teachers’ Retirement System (CalSTRS) pension fund said on Saturday that iPhone overuse could be hurting children’s developing brains, an issue that may harm the company’s long-term market value. <blockquote><img alt="Iphone_overuse_could_hurt_children%e2%80%99s_developing_brains" src="/system/images/16642/original/iPhone_overuse_could_hurt_children%E2%80%99s_developing_brai...
Apple issues apology for purposely slowed down older iPhones
2017-12-29 07:48:52 UTC
The tech giant has offered a major price cut to replace out-of-warranty batteries that affect iPhone performance. Days before issuing an apology, it acknowledged it purposely slowed down older iPhones to prevent issues. In a posting on its website Thursday, Apple apologized over its handling of the battery issue and said it would make a number of changes for customers “to recognize their loyalty and to regain the trust of anyone who may have doubted Apple’s intentions.” Apple made the move to address concerns about the quality and durability of its products at a time when it is charging $999 for its newest flagship model, the iPhone ...
Highly-skilled foreign workers favor Canada, not the U.S.
2017-12-18 03:45:11 UTC
Petra Axolotl knew her chances of getting an H-1B visa were slim. She had an MBA from Wharton and a job offer at Twitter, but luck would decide the Dutch data scientist's fate – and in 2016, it did not fall in her Favor. Axolotl missed out in the lottery for the coveted visa but remained determined to work in Silicon Valley, a place she considered the global capital of tech innovation. The plan was to reapply this year. Then Donald Trump became president, and she prepared to move somewhere else – Canada. Unlike many liberal-leaning technology workers in Silicon Valley, Axolotl doesn't consider herself "anti-Trump." But the new a...
Germany vows to back an "open and free internet" despite end of net neutrality in US
2017-12-15 21:32:27 UTC
Berlin has vowed to back an "open and free internet" following a US decision to repeal net neutrality rules. After US telecoms regulator FCC on Thursday moved to repeal Obama-era net neutrality rules, the German Economics Ministry said Friday it would continue to support EU internet rules that forbid discriminatory access to the web. "An open and free internet is indispensable for the successful development of a digital society that everyone wants to take part in," the ministry's spokeswoman, Beate Baron, told reporters. She declined to comment directly on the FCC's decision, but said that the German government had "taken note" of th...
US government rescinds rules aimed at ensuring a free and open internet
2017-12-14 19:40:07 UTC
WASHINGTON (Reuters) - The U.S. Federal Communications Commission voted along party lines on Thursday to repeal landmark 2015 rules aimed at ensuring a free and open internet, setting up a court fight over a move that could recast the digital landscape. The approval of FCC Chairman Ajit Pai’s proposal marked a victory for internet service providers like AT&T Inc, Comcast Corp and Verizon Communications Inc and hands them power over what content consumers can access. Democrats, Hollywood and companies like Google parent Alphabet Inc and Facebook Inc had urged Pai, a Republican appointed by U.S. President Donald Trump, to keep the Obam...
The Next GOOGLE Could Come From Europe
2017-11-30 06:38:48 UTC
LONDON (Reuters) - Europe is making major strides to eliminate barriers that have held back the region from developing tech firms that can compete on the scale of global giants Alphabet Inc’s Google, Amazon.com Inc or Tencent Holdings Inc, a report published on Thursday shows. The region has thriving tech hubs in major cities, with record new funding, experienced entrepreneurs, a growing base of technical talent and an improving regulatory climate, according to a study by European venture firm Atomico. While even the largest European tech ventures remain a fraction of the size of the biggest U.S. and Asian rivals, global music stream...
Uber paid hackers $100,000 to keep secret a massive breach
2017-11-22 06:25:44 UTC
(Reuters) - Uber Technologies Inc paid hackers $100,000 to keep secret a massive breach last year that exposed the personal information of about 57 million accounts of the ride-service provider, the company said on Tuesday. Discovery of the U.S. company’s cover-up of the incident resulted in the firing of two employees responsible for its response to the hack, said Dara Khosrowshahi, who replaced co-founder Travis Kalanick as CEO in August. "None of this should have happened, and I will not make excuses for it," Khosrowshahi said in a blog post. The breach occurred in October 2016 but Khosrowshahi said he had only recently learned...
Silicon Valley Supports Tax Reform
2017-09-30 14:10:52 UTC
Silicon Valley is racing to support and shape President Donald Trump’s multitrillion-dollar tax proposal, despite months of distancing itself from his policies on everything from immigration to climate change. The Republican proposal to slash corporate tax rates and ease taxation of companies’ overseas earnings has vast implications for the tech industry, which counts the wealthiest companies on earth among its ranks. The companies have responded by marshaling an army of lobbyists, some with connections to a Trump administration that many of their customers and liberal employees loathe. <hr><a href="http://www.politico.com/s...
Facebook Provides Congress Over 3,000 Russian Bought Ads
2017-09-21 20:09:00 UTC
Mark Zuckerberg, Facebook’s chief executive, is planning to release the content of more than 3,000 ads purchased by Russian operatives during the 2016 U.S. presidential campaign, reversing a decision that had frustrated Capitol Hill investigators. Zuckerberg announced on Thursday that the company will share with Congress “the content and related information of the more than 3,000 ads that appear to be linked with a Russian entity known as the Internet Research Agency”, the company said. Facebook has been engulfed in a political storm over Moscow’s use of social media to meddle in US politics after revealing th...
EU Plans To Raise Taxes For Internet Giants
2017-09-17 00:53:39 UTC
TALLINN (Reuters) - A European Union plan to raise more tax from digital multinationals faced the first signs of scepticism on Saturday, as smaller members of the bloc warned about the economic impact from such a move. France wants to tax companies like Google and Facebook on their turnover, rather than profits, to increase revenue from global online groups, accused of paying too little in Europe. More than a third of the EU’s 28 members backed Paris on Saturday at a meeting of EU finance ministers in Tallinn, the Estonian capital, but the move needs the agreement of all member states to reduce the risk of legal challenges. “We sh...
Apple rolled out its much-anticipated iPhone X and cellular Watch
2017-09-12 19:21:35 UTC
CUPERTINO, Calif. (Reuters) - Apple Inc on Tuesday rolled out its much-anticipated iPhone X, a redesigned product of glass and stainless steel with an edge-to-edge display that Apple Chief Executive Tim Cook called “the biggest leap forward since the original iPhone.” The phone features wireless charging, an infrared camera and special hardware for facial recognition, which will replace the fingerprint sensor for unlocking the phone. The home button found on previous iPhones is also gone, and users will instead tap the device to wake it up. <blockquote><img alt="Apple_unveils_'all_screen'__iphonex_with_facial_recognition_so...
Lyft to Offer Self-Driving Cars in San Francisco Area
2017-09-07 16:37:26 UTC
Heather Somerville SAN FRANCISCO (Reuters) - A self-driving car will soon be one ride option available from Lyft in the San Francisco Bay Area, as the ride-services company ramps up its efforts to become a serious player in autonomous vehicle technology. Lyft said on Thursday that self-driving cars will soon be dispatched to certain passengers who request a ride through the app in the area. The cars will come from Drive.ai, a Mountain View, California, startup that builds software to turn cars into autonomous vehicles. It is the latest in a string of partnerships between Lyft and an autonomous car company, but it is the one with t...
Fired Google Engineer Hires Lawyer in Free Speech Case
2017-08-24 17:30:02 UTC
Google found itself at the epicenter of controversy this month after a 10-page anti-diversity manifesto written by one of its employees, which had circulated internally at the company, went viral. James Damore, the employee who wrote the memo—which argued that women are less biologically inclined to pursue careers in tech-related fields, and that Google is intolerant of employees with conservative viewpoints—was fired for violating the company’s employee code of conduct. Now, Damore has hired Harmeet Dhillon, a California representative for the Republican National Convention and a civil-rights attorney, to represent him. Dhillon will repre...