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SEC scrutiny of Tesla increases as Goldman hints at adviser role

The US Securities and Exchange Commission has sent subpoenas to Tesla Inc regarding Chief Executive Elon Musk’s plan to take the company private and his statement that funding was “secured,” Fox Business Network reported on Wednesday, citing sources. The electric carmaker’s shares fell as much as 4 per cent but cut their losses after Goldman Sachs Group Inc said it ...

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Facebook to broadcast some Champions League matches

Social network Facebook will broadcast some Champions League matches in Spanish-speaking Latin America on a free-to-air basis over the next three seasons, UEFA said on Wednesday. The deal, which runs from this season until 2021, gives Facebook exclusive free-to-air rights to 32 live matches each season, including the Champions League final and UEFA Super Cup, the European soccer body said ...

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Lenovo posts forecast-beating first quarter profit

Chinese PC maker Lenovo Group swung to a profit and beat estimates in the first quarter on Thursday, helped by a sharp jump in revenue. Net profit came in at USD 77 million for the three months ended in June, compared with a loss of USD 72.3 million in the same period a year. That was ahead of an average ...

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Google reveals data on US political advertising

Google has added a section to its twice-yearly transparency report to show who buys US election ads on its platform and how much money is spent on political advertising, the search engine giant said on Wednesday. The move follows similar steps from Twitter and Facebook in late June, as social media platforms face the threat of US regulation over the ...

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The reason Facebook is losing the war on hate speech in Myanmar

In April, Facebook founder Mark Zuckerberg told US senators that the social media site was hiring dozens of more Burmese speakers to review hate speech posted in Myanmar. The situation was dire. Some 700,000 members of the Rohingya community had recently fled the country amid a military crackdown and ethnic violence. In March, a United Nations investigator said Facebook was ...

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Cubans cheer as internet goes nationwide for a day

Cuba’s government said it provided free internet to the Communist-run island’s more than 5 million cellphone users on August 14, in an eight-hour test before it launches sales of the service. Cuba is one of the Western Hemisphere’s least connected countries. State-run telecommunications monopoly ETECSA announced the trial, with August 14 marking the first time internet services were available nationwide. ...

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Israel launches 3-year programme to boost cyber industry

The Israeli government said on August 15 it is investing 90 million shekels ($24 million) to shore up the country’s cyber security industry as a global leader. Under the three-year programme companies dealing with high-risk research and development will be eligible to receive up to 5 million shekels a year. The programme will also help fund pilot projects in Israel ...

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US investor sues AT&T for $224 million over loss of cryptocurrency

US entrepreneur and cryptocurrency investor Michael Terpin filed a $224 million lawsuit on August 15 against telecommunications company AT&T, accusing it of fraud and gross negligence in connection with the theft of digital currency tokens from his personal account. In a 69-page complaint filed with the US District Court in Los Angeles, Terpin alleged that on January 7, 2018, the ...

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