Google and Facebook took particularly sharp jabs for alleged abuse of their market power from politicians on Wednesday in a much-anticipated hearing that put four of the US’s most prominent tech CEOs in the hot seat.
As of Monday morning’s open on Wall Street, Apple – the listed US company that’s attracted the largest valuation of them all – had a market capitalisation of $1.7-trillion.
The US stock market has been on a tear for the past three months, and Big Tech gets much of the credit. But how can this possibly be when the coronavirus has inflicted so much damage?
Alphabet began offering the world’s first commercial high-speed Internet using balloons to villagers in remote regions of Kenya’s Rift Valley on Wednesday.
Google surreptitiously amasses billions of bits of information – every day – about Internet users even if they opt out of sharing their information, three consumers alleged in a proposed class-action lawsuit.
Alphabet shares surged after first-quarter results and upbeat executive comments showed the company’s cloud and YouTube businesses kept growing in the midst of the Covid-19 pandemic.
Alphabet said in a regulatory filing that CEO Sundar Pichai was awarded $281-million (R5.4-billion) in compensation last year, making him one of the world’s highest-paid executives.