Facebook Takes the Punches While Rest of Silicon Valley Ducks

Facebook Takes the Punches While Rest of Silicon Valley Ducks Photo Last year lawyers for Facebook, Twitter and Google appeared in Congress to answer questions about foreign meddling in the 2016 presidential election. But in the recent scandal over personal data, only Facebook’s Mark Zuckerberg ended up testifying. Credit Eric Thayer for The New York Times SAN FRANCISCO — Two pages of notes sitting in a binder in front of Mark Zuckerberg during his congressional testimony this week hinted at a message the Facebook chief executive rarely got a chance to deliver: We’re not the only ones.
Mr. Zuckerberg was prepared to say that his company accounts for just a slice of the $650 billion advertising market and that it has plenty of competitors. Google, for example, has an online advertising business more than twice the size of Facebook’s. And Google also collects vast amounts of information about the people who use its online services.
But as Facebook has taken it on the chin over the way it..

Bitcoin fraudsters using images of celebrities including Deborah Meaden and Martin Lewis, charity warns

Victims tricked into transferring a total of £34,000 by fraudsters in 21 separate cases last month
Cryptocurrency scammers are using the faces of celebrities including Deborah Meaden and money saving expert Martin Lewis to convince people to part with their cash, Action Fraud has warned.
Consumers were tricked into transferring a total of £34,000 by fraudsters in 21 separate cases last month, the charity said.
Adverts on social media and websites use images of the individuals to promote the investments including bitcoin, but in reality the money is simply stolen. The posts link to websites where people put in their contact details.
Read more Half of UK companies 'have been victims of fraud or economic crime' The scammers then phone would-be investors to convince them to transfer funds.
Mr Lewis said he found it “sickening” that scam artists were “leeching” off the trust of his audience.
“Let me be very plain,” he said. “I never do adverts. If you see my picture in a..

Heinz sparks international outrage with new 'mayochup' condiment

Company accused of 'cultural appropriation', ;gentrifying' and 'colonising' beloved dressing
It all started with a tweet about a condiment.
Heinz, the popular ketchup brand, took to Twitter with a poll about a potential product launch, a concept they billed as novel to American consumers: a pre-made combination of mayonnaise and ketchup.
They called it “mayochup”.
“Want #mayochup in stores? 500,000 votes for ‘yes’ and we’ll release it to you saucy Americans,” the company tweeted.
While the product is already available in some countries in the Middle East, Heinz said it wanted to know if Americans would be receptive to a “US debut”.
Read more Heinz creates ‘chocolate mayonnaise’ in time for Easter The votes poured forth, totalling more than 680,000 by Friday morning. And so did the headlines: “’Mayochup’ is the hybrid condiment you never knew you wanted,” Business Insider wrote, adding “this beige-coloured condiment isn’t a prank.”
NBC’s Today wrote ..

Bulging Debt May Spell Trouble for Energy, Telecom and Retail

Bulging Debt May Spell Trouble for Energy, Telecom and Retail While many companies have shrewdly taken advantage of rock-bottom interest rates over the last decade, in industries like retail, energy and telecommunications, bulging debt is a burden that investors may need to worry about.
Many retailers, for example, have been struggling with competition from online giants like Amazon and Walmart. The debt of major companies like Neiman Marcus, PetSmart and Sears is already rated as speculative (also known as high-yeld or junk). And Diane Vazza, head of global fixed-income research at Standard & Poor’s, said many debt-laden retailers have already suffered credit downgrades this year. These include Sears, Payless and Guitar Center Holdings.
Once a company’s debt is downgraded to speculative from investment grade, it may find the footing more slippery. Companies that fall into speculative grade ratings (B- or lower in the S.&P. ratings system) tend to accelerate toward even lower ratings, ..

Brexit: UK faces up to 100,000 job losses under new proposal to strip UK of euro business

Mr Weber, who heads the European People’s Party, the largest group in the European Parliament, said that it was not conceivable that euro-denominated business could remain in London
Around 100,000 jobs may now be at risk after a top EU lawmaker warned that financial business denominated in euros must move from the UK to the EU after Brexit.
“People expect that we do the euro business and all the business which is linked to the euro on European soil,” said Manfred Weber, a political ally of German Chancellor Angela Merkel and European Commission president Jean-Claude Juncker
Mr Weber, who heads the European People’s Party, the largest group in the European Parliament, said that it was not conceivable that euro-denominated business could remain in London.
Read more European parliament leader demands UK be stripped of all euro business Mr Weber said the EU should support its own financial hubs such as Paris, Frankfurt, Dublin and Amsterdam.
Financial transactions can currently be ..

Jaguar Land Rover to cut 1,000 UK jobs as Brexit hits the motor industry

Car maker said it remains committed to is UK plants despite the role reductions
Jaguar Land Rover (JLR) is cutting 1,000 of its UK contractor roles, blaming continued difficult trading conditions in the motor market.
The job cuts are due to a fall in sales caused by uncertainty around Brexit and confusion over diesel policy, a source told Reuters.
Read more UK car registrations fall for 12th consecutive month The car maker said it “regularly reviews its production schedules to ensure market demand is balanced globally”.
A spokesperson for Jaguar, which employs more than 40,000 people around the world, said: “In light of the continuing headwinds impacting the car industry, we are making some adjustments to our production schedules and the level of agency staff. We are however continuing to recruit large numbers of highly skilled engineers, graduates and apprentices as we are over-proportionally invest in new products and technologies.
“We also remain committed to our UK plants..