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IBM issued profit warning after weak second quarter, triggering selloff in software sector including MicrosoftShares in IBM plunged more than 25% on Tuesday after the US tech giant released disappointing preliminary second-quarter results. IBM’s stock was on track for an even steeper single-day decline than it suffered during ⁠the 1987 “Black Monday” crash.IBM had issued a profit warning and blamed shifts in corporate customers’ spending. The company said revenue for the three months e

Government had been forced to pay back duties to companies that imported goods into the US that were hit by Trump’s tariffsThe US government has already paid back tens of billions of dollars in tariffs it collected before the supreme court ruled them illegal, according to budget figures released on Monday.Tariffs – taxes on imported goods – have been a key part of president Donald Trump’s game economic plan since he took office again last year. Continue reading...

Regulators say Facebook and Instagram features such as autoplay and infinite scroll contribute to ‘compulsive use’EU regulators have accused Meta, the company behind Facebook and Instagram, of failing to tackle the risks of its “addictive design” on the physical and mental health of users.In an official charge sheet against Meta released on Friday, the European Commission said features such as video autoplay and infinite scroll, which provides an endless stream of content, “shift the b

Instagram users should check privacy settings after rollout of new Meta AI image generator, advocates warnMeta has sparked blowback from privacy advocates for allowing its new AI image maker to generate photos of users with public profiles by default.Users of Meta’s Muse Image AI tool, released Tuesday, can tag public Instagram profiles and generate pictures that pull from faces of people featured in these social media posts. Instagram users are not notified when their posts are integr

There are far better ways to tackle climate breakdown, but successive governments have chosen to listen to the fossil fuel companies insteadThe new prime minister will be looking for money? Well, here’s £21.7bn lying on the ground. The government could cancel its deranged, disastrous carbon capture and storage (CCS) programme at no cost to public welfare: in fact, it would greatly reduce the harm we will suffer.Sorry, did I say £21.7bn? That’s the figure the government has been putting