Facebook beat Wall Street revenue projections with user numbers on target despite data privacy scandal

Social media giant continues to grow despite Cambridge Analytica controversy
Facebook beat Wall Street revenue projections and announced that its user numbers were in line with estimates in the wake of a user data privacy scandal.
Up to 87m users saw their data end up in the possession of political consulting firm Cambridge Analytica, which worked for Donald Trump’s presidential campaign. Facebook has since been scrambling to mollify angry politicians and reassure users that it will safeguard their personal information.
Amid that turmoil, observers were keenly watching the company’s user figures to assess the potential damage and see if the scandal would suppress Facebook’s long-term growth.
Read more Professor apologises for helping Cambridge Analytica harvest data Cambridge Analytica whistleblower to give evidence to US Congress Suspended Cambridge Analytica boss refuses to appear before MPs Its North American user numbers were already flagging at the end of 2017, and since the..

Persimmon shareholders revolt over chief executive's 'grossly excessive' £75m bonus

Jeff Fairburn’s bonus could pay 4,100 of the company's full-time staff the Living Wage for a year
Persimmon shareholders rebelled on Wednesday against a “grossly excessive” £75m bonus awarded to the housebuilder’s chief executive Jeff Fairburn.
In a vote at the company’s annual general meeting, 48.5 per cent of ballots were cast against the pay deal while 30 per cent of shareholders abstained.
The company said it recognised that “a sizeable number of shareholders remained concerned” about the incentive plan, which also saw other senior executives awarded tens of millions of pounds.
Read more City drops ball as Persimmon narrowly wins AGM vote on CEO's pay Mr Fairburn's pay prompted widespread condemnation in December, after it was reported that he would collect more than £100m. After public outcry from politicians and shareholders, Mr Fairburn offered to cut the bonus £25m and said he would donate a “substantial proportion” to charity.
Finance director Mike Killo..

City drops the ball as Persimmon narrowly wins AGM pay vote despite uproar over CEO's £100m

The advisory vote won the support of 51.5 per cent of investors, but there were an unusually high number of abstentions
Just how absurd does a CEO’s package have to get for shareholders to vote against the remuneration report of the company that employs them?
It’s fair to ask that question in the wake of the furore over Persimmon Homes handing a bonus worth more than £100m to CEO Jeff Fairburn.
The advisory vote on the company’s pay report at its York AGM was a close run thing, but in the end the builder won the day with 51.5 per cent voting in favour, 48.5 per cent opposed.
Read more Persimmon execs give up part of obscene bonuses: It's a empty gesture Help to Buy, Persimmon Homes profits and why our columnist is outraged Persimmon expects 2017 profits to beat market expectations There were an unusually high number of abstentions, which is what the more gutless among the City’s big investors like to do when they want to “send a message”.
For the record the votes withhe..

Twitter says its user numbers are growing as it hails progress in safety and quality of content

Social network beat expectations with revenue growth
Twitter grew revenues and daily user numbers in the first quarter of 2018, the social media firm said on Wednesday.
The group reported revenue was up 21 per cent compared to the first three months of 2017, to $665m (£477m), with advertising revenue also rising by 21 per cent to $575m.
US revenue grew by 2 per cent to $347m, while international revenue rose 53 per cent to $318m.
Read more Twitter announces new privacy policy ahead of European data law Twitter said its increased revenue reflected “better than-expected growth across all major products and geographies”.
The group swung to a net profit of $61m, or 8 cents per share, in the first quarter, from a loss of $61.6m, or 9 cents per share, a year earlier
Daily active user numbers increased by 10 per cent compared to the first quarter of last year, and were up 12 per cent against the previous quarter.
Shares in the group jumped 12 per cent in pre-market trading as the..

Comcast makes rival £22bn bid for Sky, threatening Rupert Murdoch's offer

US Media giant Comcast has made a £22bn bid for Sky that threatens to scupper a rival offer from Rupert Murdoch's 21st Century Fox.
The £12.50 per share offer sent Sky's stock up 3 per cent on Wednesday.
Comcast owns NBC and Universal Pictures among a host of other businesses.
Read more Sky: Now Fox offers 'legal separation' of Sky News In December 2016, Fox agreed to buy the 61 per cent of Sky that it does not already own but that takeover has been held up by a slew of regulatory concerns.
“We are delighted to be formalising our offer for Sky today,” Comcast chief executive Brian Roberts said.
“We have long believed Sky is an outstanding company and a great fit with Comcast. Sky has a strong business, excellent customer loyalty, and a valued brand. It is led by a terrific management team who we look forward to working with to build and grow this business.”
Comcast, which also owns DreamWorks Animation and channels such as MSNBC, CNBC and The Weather Channe..

TSB customers still locked out of accounts despite CEO claiming online banking 'up and running'

IT chaos enters sixth day with customers still not able to log in to view and others saying details have disappeared
TSB customers were still locked out of their online accounts on Wednesday, despite the bank’s chief executive claiming systems were “up an running”, as IT chaos entered its sixth day.
Customers who logged into TSB’s app or online banking were faced with a screen stating that the bank was limiting the number of users accessing the service. Others were able to log in but, when they did, some or all of their account details had disappeared.
Customers have also reported that they could access other people’s accounts, including account numbers, sort codes and transaction histories.
Read more TSB apology after customers complain of online banking 'data breach' ​TSB could not say how many people were still locked out of the service or when the problems would be fully resolved.
The ongoing IT disaster began with botched upgrade work on Friday but has developed ..