Facebook’s data privacy scandal has done little to deter advertisers from the social media platform, according to a major ad firm. Publicis Media CEO Steve King told CNBC that Facebook has experienced an erosion of trust after allegations that right-wing consulting firm Cambridge Analytica used millions of users’ Facebook data […]
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Alaska Airlines plans to pull its planes and pilots out of New York
Alaska Airlines plans to close its New York base in September to reinforce its West Coast fleet, asking more than 100 pilots to relocate to California in a matter of months. The airline acquired Virgin America in April 2016 for a reported $4 billion which grew Alaska into the fifth […]
EasyJet’s first-half loss narrows to $92 million
British low-cost airline easyJet posted a narrower half-year pretax loss Tuesday and guided that it expected revenue per seat to be positive in the second half of the year. The company posted a pretax loss of £68 million ($92 million) for the six months ended March 31, an improvement on […]
Vodafone’s Vittorio Colao to step down in October
Vodafone Chief Executive Vittorio Colao will step down in October after 10 years in charge of the world’s second largest mobile operator, and will be succeeded by finance director Nick Read, the company said on Tuesday. Colao has transformed the British company during his time at the helm. He took […]
Thyssenkrupp second-quarter operating profit up on steel recovery
German technology and industrial conglomerate Thyssenkrupp on Tuesday posted a 17-percent increase in its second-quarter operating profit, helped by a recovery in steel prices that has already benefited larger rival ArcelorMittal. The group, which makes everything from submarines to chemical plants, said second-quarter adjusted earnings before interest and tax (EBIT) […]
Google is being investigated in Australia over alleged collection of user data
Google is under investigation in Australia following claims that it collects data from millions of Android smartphones users, who unwittingly pay their telecom service providers for gigabytes consumed during the harvesting, regulators said on Tuesday. Responding to the latest privacy concerns surrounding Google, a spokesman for the U.S. based search […]
Space mining could become a real thing — and it could be worth trillions
The race to space traditionally has advanced with exploration and even tourism in mind, but space-mining is looking like an increasingly legitimate idea, opening the possibility of a new civilization — and profits — on another planet. Tesla CEO Elon Musk’s SpaceX and Amazon CEO Jeff Bezos’ Blue Origin aim […]
North Korea proposes inter-Korea talks on May 16: South Korean ministry
North Korea and South Korea agreed on Tuesday to hold high-level inter-Korea talks on May 16 to discuss steps needed to uphold the pledge to denuclearize the Korean peninsula, South Korea’s Unification Ministry said. The meeting will discuss specific plans needed to carry out the April 27 inter-Korea summit declaration, […]
5G technology is actually hurting some telecom stocks, JP Morgan says
Some telecommunications stocks did not do as well as they could have last year, and J.P. Morgan thinks it knows why. The bank said in an April note that some investors grew concerned in 2017 about returns — or the lack of them — on so-called 5G mobile network technology, […]
Delta planning new international routes now that Middle East airline dispute is resolved, CEO says
Delta Air Lines plans to announce new international routes in the coming weeks after U.S. and three Gulf carriers resolved a more than three-year-old dispute over unfair competition, the airline’s CEO said Monday. Delta and competitors American Airlines and United Airlineshave complained for years about the expansion of three Persian […]