Category Archives: Technology sector

Big tech boom or bust? Experts see signs of strength after wave of layoffs

Posted on by

Even as more job cuts await, some analysts see the beginnings of a bull market in the coming season of earnings reports

Will 2024 be a boom or a bust for big tech? By one estimate, there have been more than 7,500 layoffs in the sector since the start of the year – a dispersal of pink slips that many hoped would have ceased after the deep job cuts of 2023.

However, as the US’s big tech earnings season gets under way this week, some analysts are predicting strong numbers. This batch of quarterly financial results may show that the industry has cleared out its pandemic-era overhiring and reorganised itself around cloud computing and AI - necessitating cuts in sectors with less rosy prospects. Analysts keen on AI say we are at the start of a tech bull market.

Continue reading...

Fujitsu government contracts under scrutiny in light of Horizon scandal

Posted on by

Treasury committee writes to 21 bodies including Bank of England and HMRC to demand details of post-2019 deals

Fujitsu’s receipt of lucrative government contracts despite its role in the Post Office Horizon scandal has come under greater scrutiny after the Treasury committee wrote to organisations including the Bank of England and HM Revenue and Customs to demand details of their contracts with the tech company.

The influential group of MPs told 21 public bodies, including the Treasury itself, to provide information on work given to the Japanese-owned company since 2019, when the high court ruled there had been dozens of bugs and errors in its Horizon IT system.

Continue reading...

Sheryl Sandberg to leave board of Facebook parent Meta

Posted on by

Former chief operating officer was lead architect of Facebook’s digital advertising-driven business model

Sheryl Sandberg is to step down from the board of Facebook’s parent company, Meta, nearly two years after quitting her executive role at the business.

Sandberg was the lead architect of Facebook’s digital advertising-driven business model as Meta’s chief operating officer.

Continue reading...

End of era as Toshiba delists from Tokyo stock exchange after 74 years

Posted on by

Electronics firm taken private in £11bn deal by consortium led by Japan Industrial Partners

Toshiba, the Japanese company synonymous with the country’s 20th-century dominance of electronics, has delisted from the Tokyo stock exchange after 74 years.

The manufacturer, associated in the UK with its 1980s “Ello Tosh, gotta Toshiba” advertising campaign, was taken private on Wednesday in an £11bn deal by a consortium of investors led by the private equity investor Japan Industrial Partners (JIP).

Continue reading...

Tech giants could be forced to share secret news deals under Australia’s media bargaining code

Posted on by

New legislation will help ensure sustainability of public interest journalism, Labor says

Tech giants could be forced to hand over sensitive details on how they distribute news on their platforms to Australia’s competition watchdog as part of the federal government’s commitment to levelling the playing field for public interest journalism in the digital age.

The Australian Competition and Consumer Commission will undertake periodic reporting into how platforms subject to the media bargaining code are distributing news content on sites and whether significant bargaining power imbalances between the tech giants and media organisations exist.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

Continue reading...

EE launches streaming TV with custom Apple TV box in UK first

Posted on by

Live and on-demand TV over broadband replaces BT TV as firm continues brand and service revamp

The BT-owned EE is rolling out its revamped TV over broadband offering, which delivers live and on-demand services streamed to a choice of set-top boxes that includes a customised Apple TV – a first for the UK.

The new IPTV service continues the firm’s replacement of the BT brand with EE and ditches the aerial while still offering free-to-air and premium channels in a range of packages starting at £18 a month on top of the required EE broadband subscription.

Continue reading...

‘What do we want? £15!’ Hundreds join Amazon picket line for Black Friday strike

Posted on by

Trade unionists from US and Europe stand with staff at Coventry hub over local pay dispute amid global day of action

Hundreds of strikers outside Amazon’s Coventry warehouse were joined on Black Friday by trade unionists from Europe and the US as part of a global campaign calling for better working conditions at the internet retailer.

Wearing orange beanie hats branded with the GMB union logo, activists from Germany, Italy and California, on strike at their respective Amazon workplaces, expressed solidarity with the Coventry strikers, who have taken 28 days of industrial action since January.

Continue reading...

OpenAI ‘was working on advanced model so powerful it alarmed staff’

Posted on by

Reports say new model Q* fuelled safety fears, with workers airing their concerns to the board before CEO Sam Altman’s sacking

OpenAI was reportedly working on an advanced system before Sam Altman’s sacking that was so powerful it caused safety concerns among staff at the company.

The artificial intelligence model triggered such alarm with some OpenAI researchers that they wrote to the board of directors before Altman’s dismissal warning it could threaten humanity, Reuters reported.

Continue reading...

Sam Altman’s OpenAI exit leads to rollercoaster for sector

Posted on by

Firing of industry figurehead led to rebellion at his former employer and his hiring by its rival Microsoft


The blog headline was anodyne – “OpenAI announces leadership transition” – but the consequences for Silicon Valley were seismic.

On Friday the company behind the hit AI text-generating system ChatGPT announced that Sam Altman, figurehead for the business and the artificial intelligence revolution that has enthralled and alarmed the world in equal measure, had been fired as chief executive.

Continue reading...

Amazon and Facebook owner Meta agree to protect consumers, CMA says

Posted on by

Sites agree to stop practices that give them an unfair advantage over businesses and shoppers

The UK’s competition watchdog has said it has secured commitments from Amazon and the Facebook owner Meta to protect consumers on their marketplaces.

The agreements come after the Competition and Markets Authority (CMA) launched separate investigations into Amazon, which sells its own products and allows sellers to retail via its online marketplace function, and Meta, which owns Facebook Marketplace.

Continue reading...

US orders immediate halt to some AI chip exports to China, says Nvidia

Posted on by

Fellow tech company Intel ‘reviewing regulations’ as timing of move brought forward

The chip designer Nvidia has said the US has told it to immediately halt the export of some of its high-end artificial intelligence chips to China as regulators advanced the deadline.

The restrictions were supposed to come into effect 30 days after 17 October, when the Biden administration announced measures to stop countries, including China, Iran and Russia, from receiving advanced AI chips designed by Nvidia and others.

Continue reading...

China launches tax investigations into Apple iPhone maker Foxconn

Posted on by

Tax audits and land use inquiries follow company founder announcing run for Taiwan presidency

China’s tax authorities have launched multiple investigations into the company that makes the iPhone, months after its billionaire founder announced he would run in Taiwan’s presidential elections.

Foxconn faces tax audits of its operations in China, as well as investigations into land use in two Chinese provinces, according to reports by local media.

Continue reading...

Sunak’s global AI safety summit risks achieving very little, warns tech boss

Posted on by

Big tech firms attempting to ‘capture’ meeting of heads of government, says Connor Leahy

One of the executives invited to Rishi Sunak’s international AI safety summit next month has warned that the conference risks achieving very little, accusing powerful tech companies of attempting to “capture” the landmark meeting.

Connor Leahy, the chief executive of the AI safety research company Conjecture, said he believed heads of government were poised to agree a style of regulation that would allow companies to continue developing “god-like” AI almost unchecked.

Continue reading...

Nokia to cut up to 14,000 jobs after profits plunge

Posted on by

Finnish telecoms group aims to cut costs as demand for mobile network equipment slumps

Nokia has announced plans to cut up to 14,000 jobs over the next three years as it slashes costs after a worse-than-expected slump in demand for its mobile network equipment.

The Finnish technology company said the plans to cut 16% of its 86,000-strong global workforce were part of efforts to cut costs by €1.2bn by the end of 2026. The cuts were announced as the company revealed a 70% drop in third-quarter profits, which fell to €133m (£116m) compared with €428m a year earlier.

Continue reading...

TikTok fined €345m for breaking EU data law on children’s accounts

Posted on by

Irish data regulator says platform put 13- to 17-year-old users’ accounts on default public setting, among other breaches

TikTok has been fined €345m (£296m) for breaking EU data law in its handling of children’s accounts, including failing to shield underage users’ content from public view.

The Irish data watchdog, which regulates TikTok across the EU, said the Chinese-owned video app had committed multiple breaches of GDPR rules.

Continue reading...

Unity seeks to clarify new game engine charges amid outrage from developers

Posted on by

Games creators attack the fees, due for implementation in 2024, as company executive dials back on initial plan

Tech company Unity has sought to clarify its decision to charge a controversial new fee to game developers. A blogpost on its official site last night announced the company would be introducing a “runtime fee”, which would require developers to pay a fixed sum each time a game built using the Unity Engine was installed by a player.

Unity stipulated that the fee would only be chargeable after a game made $200,000 (£160,000) in 12 months and had at least 200,000 lifetime game installs, but developers nevertheless vented outrage on social media.

Continue reading...

Number of Britons facing significant internet outages doubles in a year

Posted on by

Two-fifths of UK adults disconnected for three hours or more with one in four left without service for nearly a week

The number of Britons who have experienced their internet connection failing for at least three hours has almost doubled in the last year, with irate consumers now ranking broadband outages as a bigger frustration than roadworks or public transport delays.

In the past year, two-fifths (41%) of all UK adults – 22 million consumers – have had their internet disconnected for three or more hours, a significant increase on the 12 million who reported disruption the previous year, according to a report by the price comparison website Uswitch.

Continue reading...

Huawei accused of building secret microchip factories to beat US sanctions

Posted on by

US-based semiconductor association claims Chinese tech firm has acquired at least two plants and is constructing three others

Huawei has been accused by a leading association of semiconductor manufacturers of building a collection of secret chip-making facilities across China to help the technology company bypass US sanctions, according to a report.

The Chinese tech firm moved into chip production last year and was receiving an estimated $30bn (£23.7bn) in state funding from the government, the Washington-based Semiconductor Industry Association was quoted as saying by Bloomberg, adding that Huawei had acquired at least two existing plants and was building three others.

Continue reading...

CEO regrets her firm took on Facebook moderation work after staff ‘traumatised’

Posted on by

Outsourcer Sama facing legal cases brought by Kenya-based employees alleging exposure to graphic content

The chief executive of a company contracted to moderate Facebook posts in east Africa has said she regretted taking on the work, after its staff said they were left traumatised by graphic content on the social media platform.

The US outsourcing firm Sama is facing a number of legal cases brought by Kenya-based employees, who alleged being exposed to graphic and traumatic content such as videos of beheadings, suicide and other material at a moderation hub.

Continue reading...

UK considers tighter rules on investment in China after US clampdown

Posted on by

Rishi Sunak mulls whether to follow US lead in restricting funding for advanced technologies

The British government is considering tightening rules on investment in China after the US president announced new measures aimed at limiting the dollars and expertise flowing into sensitive technologies in the country.

Joe Biden signed an executive order on Wednesday that authorises the US treasury secretary to prohibit or restrict US investments in Chinese entities in three sectors: semiconductors and microelectronics; quantum information technologies; and certain artificial intelligence systems.

Continue reading...