Investors awarded Hillary Clinton a clear victory over Donald Trump

September 28, 2016

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Investors awarded Hillary Clinton a clear victory over Donald Trump in the first of America’s three presidential debates.

The Mexican peso jumped, signalling that traders consider a Trump presidency less likely after Monday’s contest.

The yen, South Korean won and South African rand also strengthened against the dollar; Mrs Clinton’s chances rose also among online prediction markets.

Meanwhile the Republican candidate’s pride in not paying taxes and exploiting bankruptcy laws is repellant not only to average US taxpayers, but also to other tycoons: Not one Fortune 100 CEO has donated to his campaign.

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Snapchat’s new glasses can record ten second clips

September 26, 2016

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Snapchat is moving into smart glasses. The picture- and video-messaging firm plans to release its Spectacles, sunglasses that can record ten-second clips that can be uploaded to a smartphone, in America before Christmas. They will sell for around $130 a pair. The firm says the camera will have a wider lens than phones, producing video that is more like human vision.

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Yahoo security breach could cost millions in payouts and threatens its sale to Verizon

September 25, 2016

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Could things get any worse for Yahoo and its CEO Marissa Mayer?

The troubled internet giant could face fines of hundreds of millions of dollars after it merged millions of people could be affected by the theft of the personal information of half a billion users.

What’s more, the breach, which occurred two years ago, may affect the company’s $4.8 billion deal to sell its core business to Verizon Communications Inc.

Verizon are buying Yahoo for all the data the company has collected. That data is now compromised.

The breach, which Yahoo blamed on a state-sponsored actor, occurred two years ago but was discovered after the merger deal was signed.

Understandably, Verizon was displeased by how long it took Yahoo to notify the company about the breach.

Shares of Yahoo fell 3% to $42.80 in Friday trading, a sign of mounting fears around the all-cash deal.

The decline erased $1.5 billion of Yahoo’s market value.

What will Verizon do now?

It is rare for companies to trigger material adverse change clauses because courts have resisted their use, said Lisa Stark, a partner at K&L Gates LLP.

“It’s a very high standard,” she said. “It has to be a very substantial event. It can’t just be a hiccup.”

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Facebook have been fibbing about engagement metrics on ads for two years

September 25, 2016

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This weekend, another blow was struck to Facebook’s credibility as an ad platform.

It was revealed that Facebook Inc. overestimated by up to 80% the average time people spent watching video ads on its platform shocked the media and marketing world.

The company disclosed that the metric it reported for two years for the average time users spent watching videos was artificially inflated, because it only factored in video views of more than three seconds.

Big ad agencies pressed Facebook for more details and ad buyer Publicis Media, a division of Publicis Groupe SA, was told that the Facebook error likely overestimated average time spent viewing videos by 60% to 80%, The Wall Street Journal reported.

Facebook plans a new measurement – average watch time- which will include all videos.

Publicis, who buy ads for clients, said of Facebook: “Essentially they’re coming up with new names for what they were meant to measure int he first place. This illuminates the need to have third party tagging and verification on Facebook’s platform.

“Two years of reported inflated performance numbers are unacceptable.”

Keith Weed, CMO of Unilever said last year that tech companies failing to allow third parties to measure their platforms was the equivalent of “letting them mark their own homework.”

“Marketers are reassessing the level of investment in the digital area because they are beginning to question what they are really getting in terms of the return on investment,” said Bob Liodice, chief executive officer of the Association of National Advertisers. The trade group represents large advertisers such as General Motors and AT&T.

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Goldman Sachs, Morgan Stanley and BlackRock say they will relocate if Theresa May pursues “hard Brexit”

September 25, 2016

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Bosses of several of America’s biggest banks and corporations have warned Theresa May they will pre-emptively shift operations into Europe unless she can provide early clarity on the future shape of EU-UK relations, The Telegraph has learned.

The ultimatum was delivered at a round-table meeting with Mrs May in New York this week attended by a host of key US investors, including major City investors such as Goldman Sachs, Morgan Stanley and BlackRock.

According to an account of the meeting obtained by The Telegraph, Mrs May declined to provide information about how the British government would approach the Brexit negotiations, other than pursuing a deal that was “in the national interest”.

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Twitter stock sky rockets by 20% after reports that Google might be interested in buying it (as predicted by Furthr)

September 25, 2016

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All last week, Furthr was hinting on social media that Google is poised to buy Twitter.

Well,  now Twitter stock has skyrocketed by more than 20% after a Friday-morning report from CNBC said that the company was moving closer to a sale and that Google and Salesforce were among the interested suitors.

Bloomberg reported that Goldman Sachs is helping Twitter talk to potential buyers.

Twitter declined to comment in a statement to Bloomberg.

Google declined to comment on the report. Salesforce also declined to comment.

TechCrunch is reporting that Verizon is also interested.

Verizon owns TechCrunch parent company AOL and is also in the proces of buying Yahoo.

A Verizon representative declined to comment to Business Insider.

 

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New Yorkers can now schedule an Uber to arrive sometime in the future

September 25, 2016

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The company has rolled out a “Scheduled Rides” feature to all five city boroughs.

This means users looking to lock in a ride during heavy commute times, or for early pickups to the airport, may not have to wait as long for one to arrive.

Riders can schedule an Uber car to arrive anywhere between 15 minutes to 30 days before their desired pickup time.

 

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Europe is becoming irrelevant when it comes to innovation

September 23, 2016

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Europe is becoming irrelevant when it comes to innovation in a global economy.

Just ten years ago, 17 of the 50 most valuable companies in the world were headquartered in  Europe.

Today, only six of the world’s most valuable companies are based in Europe, and venture capital funding has declined.

$14 billion in venture capital has been invested in Europe in 2015, compared to £60 billion in the US. When it comes to market capitalization the picture looks the same.

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