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Showing posts from March 27, 2018

Facebook has lost $80 billion in market value since its data scandal

Facebook shares fell 5% Tuesday on reports that CEO Mark Zuckerberg agreed to testify in front of Congress about the company's data scandal. The crisis began on March 16 after Facebook ( FB ) said it was suspending data analysis company Cambridge Analytica for allegedly harvesting data from more than 50 million Facebook users. Cambridge Analytica worked on Donald Trump's presidential campaign. Since then, Facebook's stock has plunged 18%, wiping out nearly $80 billion from the social networking giant's market value in the process. Zuckerberg's net worth has fallen by about $14 billion (he is still worth $61 billion, though). Tech stocks in general have taken a hit since the Facebook allegations first came to light. The Nasdaq is down 6%. And other social media companies, most notably YouTube owner Google and Twitter, have both nosedived as well. Shares of Google parent Alphabet ( GOOGL ) fell 7% since March 16 while Twitter has plun

New iPad with optional Pencil: Everything Apple just announced

It has a 9.7-inch display and comes with 32GB of storage. Apple's "field trip" event at a Chicago's Lane Tech High School just wrapped up, and we've all learned an important lesson: the new iPad costs the same as the old one. The company's least expensive tablet is now official, and the price is still $329 ( £319 in the UK ).  But it's now compatible with the Pencil -- Apple's stylus device that was formerly reserved for the  iPad Pro . Apple touts the $99 ( £89 ) Pencil as a boon to educators and students alike, and crucially it's something that cheaper Chromebooks, which are more popular in schools than iPads , don't have. 9.7 inch iPad:  The new iPad offers some significant spec upgrades compared to the 2017 base model , moving it closer to the more expensive iPad Pro. It uses Apple's faster A10 Fusion chip, making it more powerful than most laptops including Chromebook. It also has an 8-megapixel camera and is said to be o