Facebook’s UK tax bill rises to £15.8m – but it is still just 1% of sales | Technology

Facebook paid £15.8m in tax in the UK last year after making a profit of £62.7m on record British sales of £1.27bn. The social media giant’s accounts show that while Facebook increased its UK income by more than 50% in 2017, its pre-tax profits remained similar to 2016. Accounts filed at Companies House show that …

Huge Facebook breach leaves thousands of other apps vulnerable | Technology

Remember the Facebook hack last week that compromised at least 50m accounts? It’s worse than you think. Last Friday, the social media company revealed a vulnerability that allowed attackers to steal automated log-in credentials (or “tokens”). The tokens make it easier for people to log into popular apps and services like Spotify, Pinterest, or Yelp. …

Facebook says 50m user accounts affected by security breach | Technology

Nearly 50m Facebook accounts were compromised by an attack that gave hackers the ability to take over users’ accounts, Facebook revealed on Friday. The breach was discovered by Facebook engineers on Tuesday 25 September, the company said, and patched on Thursday. Users whose accounts were affected will be notified by Facebook. Those users will be …

Twitter’s Jack Dorsey faces more questions as Google snubs Congress – live | Technology

2.32pm EDT14:32 Michael Burgess of Texas mentions the utility of Twitter as a real time news source, but says he is concerned about issues like a doctored photo of Meghan McCain that circulated over the weekend. Dorsey: That was unacceptable. We don’t want to use our scale as an excuse here. We can’t place the …

Facebook struggling to end hate speech in Myanmar, investigation finds | Technology

Facebook’s efforts to crack down on hate speech in Myanmar, which has contributed to violent attacks against the minority Muslim population, have been inadequate, according to a Reuters investigation. The social media company has faced warnings from human rights groups and researchers that its platform was being used to spread misinformation and promote hatred of …

‘Just use cat videos’: New York Times boss wants Facebook to cut out news | Media

Facebook should consider completely removing news from users’ feeds unless the social network can find a way to avoid low-quality stories clogging up the site, the chief executive of the New York Times has said. Mark Thompson said he was “terrified” by Facebook’s attempts to use algorithms to rank the quality of news outlets, warning …

Markets await latest eurozone growth figures, Dixons data breach – business live | Business

Apple shares managed to outperform [on Monday], only declining 0.5%, but only because investors are looking ahead to tonight’s Q3 earnings announcement, but even here there may be cause for concern. Lower average selling prices at its Q2 update suggested that buyers were opting for cheaper models, perhaps indicating that iPhone X sales may have …

Markets cautious after tech sell-off and ahead of central bank meetings – business live | Business

The markets got off to a negative start on what is going to be a crazy busy week, with investors caught between last Friday’s US tech-sell-off and the Fed and Bank of England meetings on Wednesday and Thursday respectively. The FTSE – which is not only facing the much-awaited BoE decision, but the latest PMIs …

Facebook glitch shared 14 million users’ private posts publicly | Technology

Facebook said Thursday that it would notify 14 million users that posts they intended to share privately may have been published publicly, the company’s latest setback as it tries to rebuild user trust after the Cambridge Analytica scandal. The issue arose from a bug affecting Facebook’s “audience selector” tool, which allows users to decide whether …

Alexander Nix blames ‘global liberal media’ for Cambridge Analytica collapse – live | UK news

1.48pm EDT13:48 Nix punches back Former Cambridge Analytica chief executive Alexander Nix used his return to the DCMS Committee to hit back against the reporting that led to his company’s downfall, and took advantage of parliamentary privilege to attack Christopher Wylie, the whistleblower who sparked the run of stories, as a “resentful” “liar” who had …