Alphabet (Google) subsidiary Wing has become the first company in the United States to deliver packages by drone.

In Christiansburg, the small Virginia town was chosen as Wing's test location, the 22,000 residents can order products normally shipped by FedEx, medicine from Walgreens and a selection of candy from a local business, all of which will arrive via drone.

Wing, which already operates in two Australian cities as well as Helsinki, announced in a statement that the first drone-powered deliveries had taken place Friday afternoon in Christiansburg, "paving the way for the most advanced drone delivery service in the nation."

One family used the Wing app to order Tylenol, cough drops, Vitamin C tablets, bottled water and tissues, the statement said.

An older resident ordered a birthday present for his wife. Although the majority of the delivery was done by a FedEx truck, the last mile was completed by drone.

The yellow and white drones are loaded with packages at a local centre of operations called the "Nest," where Wing employees pack them with up to three pounds (1.3 kilograms) of goods, deliverable within a 10-kilometre radius.

Once they have arrived at their destination, the drones don't land. Instead, they hover above the house and lower the package with a cable.

Other companies are working to launch similar services, most notably Amazon, UPS and Uber Eats. But Wing was the first to obtain a license from the Federal Aviation Administration (FAA), authorising company pilots to fly multiple drones at the same time.

Alphabet (Google) subsidiary Wing has become the first company in the United States to deliver packages by drone. In Christiansburg, the small Virginia town was chosen as Wing's test location, the 22,000 residents can order products normally shipped by FedEx, medicine from Walgreens and a selection of candy from a local business, all of which will arrive via drone.

Alphabet (Google) subsidiary Wing has become the first company in the United States to deliver packages by drone. In Christiansburg, the small Virginia town was chosen as Wing's test location, the 22,000 residents can order products normally shipped by FedEx, medicine from Walgreens and a selection of candy from a local business, all of which will arrive via drone. Wing, which already operates in two Australian cities as well as Helsinki, announced in a statement that the first drone-powered deliveries had taken place Friday afternoon in Christiansburg, "paving the way for the most advanced drone delivery service in the nation." One family used the Wing app to order Tylenol, cough drops, Vitamin C tablets, bottled water and tissues, the statement said. An older resident ordered a birthday present for his wife. Although the majority of the delivery was done by a FedEx truck, the last mile was completed by drone. The yellow and white drones are loaded with packages at a local centre of operations called the "Nest," where Wing employees pack them with up to three pounds (1.3 kilograms) of goods, deliverable within a 10-kilometre radius. Once they have arrived at their destination, the drones don't land. Instead, they hover above the house and lower the package with a cable. Other companies are working to launch similar services, most notably Amazon, UPS and Uber Eats. But Wing was the first to obtain a license from the Federal Aviation Administration (FAA), authorising company pilots to fly multiple drones at the same time.

Google completes first drone delivery in United States

Alphabet Inc shares rose about 8 per cent&nbsp;after the company reported quarterly results that eased investors' concerns about growth challenges facing its <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/australia-to-lift-veil-on-facebook-google-algorithms-to-protect-privacy-238610&amp;sa=U&amp;ved=2ahUKEwi795iK0NLjAhVdnI8KHd4yA3EQFjADegQIEBAC&amp;usg=AOvVaw0DjuqZIq45MxG5qQMQLYOz">Google</a> advertising business.

Driven by ad sales, second-quarter revenue and earnings beat analysts' expectations. Also, the world's largest online search and ads firm, unlike No. 2 online ad player <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/facebook-to-create-privacy-panel-pay-5-billion-to-us-to-settle-data-breach-allegations-238141&amp;sa=U&amp;ved=2ahUKEwin3vee0NLjAhUJuY8KHX4XCmoQFjAJegQIABAC&amp;usg=AOvVaw3oWENcDFaT7j5nwu9RI2L3">Facebook Inc</a> a day earlier, offered no worrisome guidance about increasing regulatory scrutiny.

The results helped Alphabet dismiss as a rare blip a $1 billion revenue miss in the first quarter, which had prompted an outburst of investor questions and the biggest one-day sell-off in its shares in about seven years.

In after-hours trade on Thursday, the shares rose to $1,226.60, on track for their biggest single-day increase in four years though still down about 4% from their highs before the April slide.

Alphabet's shares have lagged peers on Wall Street this year, rising about 9 per cent through Thursday's close, compared to a roughly 20% gain for the S&amp;P 500 broadly.

Questions linger about whether privacy, content moderation and antitrust rules proposed or already passed in the United States and other high-revenue countries will slash ad prices. Google also faces an industrywide slowdown in ad sales in the United States and Europe, with revenue from emerging markets not yet picking up the slack.

Google Chief Executive Sundar Pichai told analysts on Thursday that advances in ad targeting and new services for consumers worldwide would spur growth. He said the company had survived calls for regulation before.

"We understand there will be scrutiny," and "we will engage constructively," he said.

WEAKENING CONCERNS

Alphabet, which generates about 85 per cent of its revenue from sales of ad space and ad technology, reported total second-quarter revenue of $38.9 billion. That was up 19% over last year and compared with 17% growth in the first quarter. Analysts on average estimated 16.8% growth and $38.2 billion in revenue, according to IBES data from Refinitiv.

The last time that Alphabet had two consecutive quarters of revenue growth below 20% was three years ago.

Executives said the latest results backed their contention that the performance recently has been affected by currency exchange rates and one-off fluctuations rather than advertiser flight or some deeper challenge to its business.

Alphabet's chief financial officer, Ruth Porat, appeared to dispel other analyst concerns, saying the company has seen "virtually no impact" to revenue from efforts to stop running ads on YouTube videos that some have characterized as extremist or hateful.

Alphabet authorized up to $25 billion in new stock buybacks, aiming to make use of its $121 billion in cash.

Pichai said quarterly revenue from licensing cloud computing services and workplace software jumped to about $2 billion, from its last disclosure of $1 billion at the end of 2017. He said the cloud unit would triple its sales staff over the next few years.

Atlantic Equities analyst James Cordwell told Reuters in an email that the buyback and cloud updates "suggests that management cares about stock performance, which will be a relief to shareholders!"

Net income for the second quarter rose to $9.95 billion, or $14.21 per share, compared with analysts' estimates of $8.02 billion, or $11.32 per share.

Alphabet’s quarterly costs at $29.76 billion were about flat with the same period a year ago. The operating margin was 24%, up from 18% in the first quarter.

Alphabet in its earnings release on Thursday did not mention any government investigations.

Facebook Inc, along with the release of its earnings on Wednesday, said the FTC had informed it last month that it was under antitrust investigation. The social media giant also acknowledged a broad US&nbsp;Department of Justice's antitrust review of large internet companies.

Reuters reported last month that the US&nbsp;Federal Trade Commission was gearing up to investigate Google over complaints of anti-competitive behaviour.

Accusations lodged against Google by rivals and other critics span its advertising, app store, search and other businesses.

On Thursday, the Texas attorney general's office announced that a bipartisan group of state attorneys general is weighing a range of antitrust actions against big tech companies.

Alphabet Inc shares rose about 8 per cent after the company reported quarterly results that eased investors' concerns about growth challenges facing its Google advertising business.

Alphabet Inc shares rose about 8 per cent after the company reported quarterly results that eased investors' concerns about growth challenges facing its Google advertising business. Driven by ad sales, second-quarter revenue and earnings beat analysts' expectations. Also, the world's largest online search and ads firm, unlike No. 2 online ad player Facebook Inc a day earlier, offered no worrisome guidance about increasing regulatory scrutiny. The results helped Alphabet dismiss as a rare blip a $1 billion revenue miss in the first quarter, which had prompted an outburst of investor questions and the biggest one-day sell-off in its shares in about seven years. In after-hours trade on Thursday, the shares rose to $1,226.60, on track for their biggest single-day increase in four years though still down about 4% from their highs before the April slide. Alphabet's shares have lagged peers on Wall Street this year, rising about 9 per cent through Thursday's close, compared to a roughly 20% gain for the S&P 500 broadly. Questions linger about whether privacy, content moderation and antitrust rules proposed or already passed in the United States and other high-revenue countries will slash ad prices. Google also faces an industrywide slowdown in ad sales in the United States and Europe, with revenue from emerging markets not yet picking up the slack. Google Chief Executive Sundar Pichai told analysts on Thursday that advances in ad targeting and new services for consumers worldwide would spur growth. He said the company had survived calls for regulation before. "We understand there will be scrutiny," and "we will engage constructively," he said. WEAKENING CONCERNS Alphabet, which generates about 85 per cent of its revenue from sales of ad space and ad technology, reported total second-quarter revenue of $38.9 billion. That was up 19% over last year and compared with 17% growth in the first quarter. Analysts on average estimated 16.8% growth and $38.2 billion in revenue, according to IBES data from Refinitiv. The last time that Alphabet had two consecutive quarters of revenue growth below 20% was three years ago. Executives said the latest results backed their contention that the performance recently has been affected by currency exchange rates and one-off fluctuations rather than advertiser flight or some deeper challenge to its business. Alphabet's chief financial officer, Ruth Porat, appeared to dispel other analyst concerns, saying the company has seen "virtually no impact" to revenue from efforts to stop running ads on YouTube videos that some have characterized as extremist or hateful. Alphabet authorized up to $25 billion in new stock buybacks, aiming to make use of its $121 billion in cash. Pichai said quarterly revenue from licensing cloud computing services and workplace software jumped to about $2 billion, from its last disclosure of $1 billion at the end of 2017. He said the cloud unit would triple its sales staff over the next few years. Atlantic Equities analyst James Cordwell told Reuters in an email that the buyback and cloud updates "suggests that management cares about stock performance, which will be a relief to shareholders!" Net income for the second quarter rose to $9.95 billion, or $14.21 per share, compared with analysts' estimates of $8.02 billion, or $11.32 per share. Alphabet’s quarterly costs at $29.76 billion were about flat with the same period a year ago. The operating margin was 24%, up from 18% in the first quarter. Alphabet in its earnings release on Thursday did not mention any government investigations. Facebook Inc, along with the release of its earnings on Wednesday, said the FTC had informed it last month that it was under antitrust investigation. The social media giant also acknowledged a broad US Department of Justice's antitrust review of large internet companies. Reuters reported last month that the US Federal Trade Commission was gearing up to investigate Google over complaints of anti-competitive behaviour. Accusations lodged against Google by rivals and other critics span its advertising, app store, search and other businesses. On Thursday, the Texas attorney general's office announced that a bipartisan group of state attorneys general is weighing a range of antitrust actions against big tech companies.

Alphabet's revenue rebounds easing doubts on growth

China's Huawei Technologies laid off more than two-thirds of the 850-strong workforce at its Futurewei Technologies research arm in the United States, after being blacklisted by the government.

Futurewei, which has offices in Silicon Valley and the greater Seattle, Chicago and Dallas areas, said it cut more than 600 jobs. The unit, set up in part to work with universities and researchers, recorded $510 million in operating costs last year.

Huawei is the world's largest telecommunications equipment manufacturers. The US Commerce Department in May placed the firm on its "entity list" of organizations that pose security risks. The Justice Department has filed charges against the firm alleging theft of trade secrets and other crimes.

Huawei said the job cuts, effective July 22, were "due to the curtailment of business operations" caused by the US government's actions.

The trade blacklist has made it illegal for Futurewei to transfer sensitive technologies to its parent. The blacklist also restricts Huawei from purchasing products from US technology companies.

On Monday, US President Donald Trump agreed at a meeting with the heads of top technology companies including Alphabet Inc's Google to make "timely" decisions on requests by US companies to sell to Huawei.

Futurewei began laying off workers on Monday, Reuters had reported earlier citing employees, including one who spoke as he left the company's Silicon Valley campus.

One employee, who declined to give his name, said he had been laid off, as he put a bag full of personal belongings into his car. At least half a dozen staff with boxes were seen leaving the office before noon on Monday.

An employee not affected by the layoffs said work had come to a standstill since Huawei was blacklisted.

"On the 17th of May, Huawei asked everyone at Futurewei to upload everything to the Huawei cloud, right before the ban took effect," that employee said. "After that basically Futurewei has stopped doing any work - almost stopped everything."

Futurewei has filed more than 2,100 patents in such areas as telecommunications, 5G cellular networks, and video and camera technologies, according to data from the United States Patent and Trademark Office.

Huawei employed around 1,500 people in the United States including the 850 in Futurewei prior to the layoffs. The rest of Huawei's US employees manage its supply chain, customer support, or service functions such as public affairs.

It had added sales executives and chip certification engineers given plans to enter the U.S. smartphone market.

But its headcount has steadily declined since January 2018, when a highly-anticipated deal to enter the U.S. smartphone market with AT&amp;T and Verizon collapsed last minute due to pressure from the US government.

China's Huawei Technologies laid off more than two-thirds of the 850-strong workforce at its Futurewei Technologies research arm in the United States, after being blacklisted by the government.

China's Huawei Technologies laid off more than two-thirds of the 850-strong workforce at its Futurewei Technologies research arm in the United States, after being blacklisted by the government. Futurewei, which has offices in Silicon Valley and the greater Seattle, Chicago and Dallas areas, said it cut more than 600 jobs. The unit, set up in part to work with universities and researchers, recorded $510 million in operating costs last year. Huawei is the world's largest telecommunications equipment manufacturers. The US Commerce Department in May placed the firm on its "entity list" of organizations that pose security risks. The Justice Department has filed charges against the firm alleging theft of trade secrets and other crimes. Huawei said the job cuts, effective July 22, were "due to the curtailment of business operations" caused by the US government's actions. The trade blacklist has made it illegal for Futurewei to transfer sensitive technologies to its parent. The blacklist also restricts Huawei from purchasing products from US technology companies. On Monday, US President Donald Trump agreed at a meeting with the heads of top technology companies including Alphabet Inc's Google to make "timely" decisions on requests by US companies to sell to Huawei. Futurewei began laying off workers on Monday, Reuters had reported earlier citing employees, including one who spoke as he left the company's Silicon Valley campus. One employee, who declined to give his name, said he had been laid off, as he put a bag full of personal belongings into his car. At least half a dozen staff with boxes were seen leaving the office before noon on Monday. An employee not affected by the layoffs said work had come to a standstill since Huawei was blacklisted. "On the 17th of May, Huawei asked everyone at Futurewei to upload everything to the Huawei cloud, right before the ban took effect," that employee said. "After that basically Futurewei has stopped doing any work - almost stopped everything." Futurewei has filed more than 2,100 patents in such areas as telecommunications, 5G cellular networks, and video and camera technologies, according to data from the United States Patent and Trademark Office. Huawei employed around 1,500 people in the United States including the 850 in Futurewei prior to the layoffs. The rest of Huawei's US employees manage its supply chain, customer support, or service functions such as public affairs. It had added sales executives and chip certification engineers given plans to enter the U.S. smartphone market. But its headcount has steadily declined since January 2018, when a highly-anticipated deal to enter the U.S. smartphone market with AT&T and Verizon collapsed last minute due to pressure from the US government.

Huawei's US research arm slashes jobs as trade ban bites

Two junior Indian antitrust research associates and a law school student were behind a complaint that sparked a probe into Google's alleged anti-competitive practices in the country, in what has become another regulatory challenge for the US firm.

The Competition Commission of India (CCI) ordered a full-blown investigation into Alphabet Inc's Google in April for alleged abuse of its Android platform to hurt rivals, but the complainants'&nbsp;names came to light only when the order was made public last week.

The case was filed by Umar Javeed and Sukarma Thapar, who work as research associates at the CCI, and Umar's brother Aaqib, a law school student who interned with the CCI briefly in 2018, their LinkedIn profiles showed. All three declined interview requests for this article.

Though it's unusual for CCI researchers to file cases with the watchdog, antitrust lawyers said, there is nothing wrong with it. They acted in their personal capacity, a senior government official said, adding that all are aged in their 20s.

"They deserve appreciation, they have done a commendable job," SL Bunker, a former senior member of the CCI, told Reuters on Monday. "The developments will be watched eagerly as the case involves many intricacies and its implications will be the world over."&nbsp;

The CCI didn't respond to a request for comment.

A recent antitrust case in the country against Google involved a matchmaking firm backed by top lawyers. The US&nbsp;company was fined $20 million in that case last year, though it is under appeal.

In the latest case, the three young informants relied on the European Commission's order from last year in which Google was fined $5 billion for forcing manufacturers to pre-install its apps on Android devices. Their complaint is against both Google LLC and the company's India unit.

The CCI's preliminary finding was that Google appeared to be dominant on the basis of the material brought forward by the informants, who were identified in the order as Android users.

Google didn't respond to an email seeking comment, but has previously said it would work with the CCI "to demonstrate how Android has led to more competition and innovation, not less".

The amount of any fine that could be imposed on Google if the CCI rules against it was not clear. Google's Indian unit posted revenue of more than $1.3 billion for the 2018 fiscal year, according to Indian media.&nbsp;

Umar has been working at the CCI since 2017 and obtained his law degree in 2014 from the University of Kashmir, while Aaqib is due to graduate from the Kashmir university this year. Thapar, who graduated from an Indian law school in 2015, joined the CCI last year, according to their LinkedIn profiles.

When one Indian antitrust lawyer asked Umar on LinkedIn whether it wasn't strange that CCI's research associates were filing cases at the watchdog, he replied, "I don't think so ... you can`t tell a police officer to not report an illegal activity because of him being an officer."

Two junior Indian antitrust research associates and a law school student were behind a complaint that sparked a probe into Google's alleged anti-competitive practices in the country, in what has become another regulatory challenge for the US firm.

Two junior Indian antitrust research associates and a law school student were behind a complaint that sparked a probe into Google's alleged anti-competitive practices in the country, in what has become another regulatory challenge for the US firm. The Competition Commission of India (CCI) ordered a full-blown investigation into Alphabet Inc's Google in April for alleged abuse of its Android platform to hurt rivals, but the complainants' names came to light only when the order was made public last week. The case was filed by Umar Javeed and Sukarma Thapar, who work as research associates at the CCI, and Umar's brother Aaqib, a law school student who interned with the CCI briefly in 2018, their LinkedIn profiles showed. All three declined interview requests for this article. Though it's unusual for CCI researchers to file cases with the watchdog, antitrust lawyers said, there is nothing wrong with it. They acted in their personal capacity, a senior government official said, adding that all are aged in their 20s. "They deserve appreciation, they have done a commendable job," SL Bunker, a former senior member of the CCI, told Reuters on Monday. "The developments will be watched eagerly as the case involves many intricacies and its implications will be the world over." The CCI didn't respond to a request for comment. A recent antitrust case in the country against Google involved a matchmaking firm backed by top lawyers. The US company was fined $20 million in that case last year, though it is under appeal. In the latest case, the three young informants relied on the European Commission's order from last year in which Google was fined $5 billion for forcing manufacturers to pre-install its apps on Android devices. Their complaint is against both Google LLC and the company's India unit. The CCI's preliminary finding was that Google appeared to be dominant on the basis of the material brought forward by the informants, who were identified in the order as Android users. Google didn't respond to an email seeking comment, but has previously said it would work with the CCI "to demonstrate how Android has led to more competition and innovation, not less". The amount of any fine that could be imposed on Google if the CCI rules against it was not clear. Google's Indian unit posted revenue of more than $1.3 billion for the 2018 fiscal year, according to Indian media. Umar has been working at the CCI since 2017 and obtained his law degree in 2014 from the University of Kashmir, while Aaqib is due to graduate from the Kashmir university this year. Thapar, who graduated from an Indian law school in 2015, joined the CCI last year, according to their LinkedIn profiles. When one Indian antitrust lawyer asked Umar on LinkedIn whether it wasn't strange that CCI's research associates were filing cases at the watchdog, he replied, "I don't think so ... you can`t tell a police officer to not report an illegal activity because of him being an officer."

India's latest Google probe sparked by junior antitrust researchers

Several major <a href="https://www.wionews.com/world/us-hits-chinese-firm-sinovel-with-15-mn-fine-for-stealing-technology-149666">US-based technology</a> companies are planning to shift substantial production out of China, spurred by a bitter trade war between <a href="https://www.wionews.com/world/4th-july-celebrations-battle-tanks-arrive-in-washington-trump-promises-incredible-flyovers-biggest-ever-fireworks-232578">Washington</a> and Beijing, the Nikkei reported on Wednesday, citing sources.

Personal computer makers HP Inc and Dell Technologies are planning to reallocate up to 30% of their notebook production out of China, according to the Nikkei.

Microsoft Corp, Alphabet Inc, Amazon.com Inc, Sony Corp and Nintendo Co Ltd are also looking at moving some of their game console and smart speaker manufacturing out of the country, the Nikkei added.

US President Donald Trump and <a href="https://www.wionews.com/world/xi-jinping-heads-to-north-korea-to-meet-kim-jong-un-ahead-of-trump-talks-228852">Chinese President Xi Jinping</a> struck a truce at last weekend's Group of 20 summits in Japan, paving the way for a restart in trade talks after months of stalemate.

However, the companies are not likely to alter their plans of moving some of their production out of China as they also face higher operating costs in the country.

In June, Apple Inc asked its major suppliers to assess the cost implications of moving 15%-30% of their production capacity from China to Southeast Asia as it prepares for a restructuring of its supply chain, Nikkei had reported last month.

HP, Dell, Amazon, Microsoft and Google did not immediately respond to a Reuters' request for comment.

Several major US-based technology companies are planning to shift substantial production out of China, spurred by a bitter trade war between Washington and Beijing, the Nikkei reported on Wednesday, citing sources.

Several major US-based technology companies are planning to shift substantial production out of China, spurred by a bitter trade war between Washington and Beijing, the Nikkei reported on Wednesday, citing sources. Personal computer makers HP Inc and Dell Technologies are planning to reallocate up to 30% of their notebook production out of China, according to the Nikkei. Microsoft Corp, Alphabet Inc, Amazon.com Inc, Sony Corp and Nintendo Co Ltd are also looking at moving some of their game console and smart speaker manufacturing out of the country, the Nikkei added. US President Donald Trump and Chinese President Xi Jinping struck a truce at last weekend's Group of 20 summits in Japan, paving the way for a restart in trade talks after months of stalemate. However, the companies are not likely to alter their plans of moving some of their production out of China as they also face higher operating costs in the country. In June, Apple Inc asked its major suppliers to assess the cost implications of moving 15%-30% of their production capacity from China to Southeast Asia as it prepares for a restructuring of its supply chain, Nikkei had reported last month. HP, Dell, Amazon, Microsoft and Google did not immediately respond to a Reuters' request for comment.

HP, Dell, other tech firms plan to shift production out of China: Nikkei

The Nasdaq plunged Monday as tech giants <a href="https://www.wionews.com/world/us-preparing-antitrust-probe-of-google-report-223296">Alphabet/Google, Facebook and Amazon</a> suffered bruising losses on reports that US antitrust officials are stepping up oversight of Big Tech.

The Nasdaq Composite Index slumped 1.6 percent to 24,819.78, more than 10 percent below an all-time high just a month ago, a decline known as a "correction" in Wall Street parlance.

The Dow Jones Industrial Average eked out a gain of less than 0.1 per cent to finish at 24,819.78, while the broad-based S&amp;P 500 shed 0.3 per cent to settle at 2,744.45.

The Wall Street Journal, citing unnamed sources, reported that the Justice Department and Federal Trade Commission had agreed to coordinate antitrust enforcement over the biggest tech companies, with Justice taking the lead on Google and the FTC handling Facebook and some aspects of Amazon.

The report follows myriad controversies involving the companies and comes as some presidential candidates call for the giants to broken up.

Shares of Facebook plunged 7.5 per cent, Alphabet dropped 6.1 per cent and Amazon 4.6 per cent.&nbsp;

Other large technology companies also fell significantly, including Apple, Netflix, Salesforce and Microsoft.

The latest probes "could be the start of a new anti-monopoly push in the industry," said Gorilla Trades strategist Ken Berman.

The tech rout comes on the heels of a May equity sell-off as the US and China drifted further apart on trade and after US President Donald Trump announced new tariffs on all imports from Mexican starting June 10.

US manufacturing industry activity slowed further in May in the wake of the latest exchange of US and Chinese tariffs, according to a survey by the Institute for Supply Management. The organization warned that the US tariffs on Mexico could significantly dent activity.

That, along with the retreat in US construction spending in March and April, were the latest in a series of worrisome signs about the health of the US expansion.

James Bullard, a voting member of the Federal Reserve's interest rate-setting committee, said in a speech on Monday that a rate cut "may be warranted soon" given uncertainty about trade conflicts and inflation well below the Fed's two per cent target.

Most Fed officials so far have repeated the central bank's mantra that they can remain patient before deciding on the next move.

The week's calendar also includes release of the much-anticipated US jobs report for May on Friday.

The Nasdaq plunged Monday as tech giants Alphabet/Google, Facebook and Amazon suffered bruising losses on reports that US antitrust officials are stepping up oversight of Big Tech.

The Nasdaq plunged Monday as tech giants Alphabet/Google, Facebook and Amazon suffered bruising losses on reports that US antitrust officials are stepping up oversight of Big Tech. The Nasdaq Composite Index slumped 1.6 percent to 24,819.78, more than 10 percent below an all-time high just a month ago, a decline known as a "correction" in Wall Street parlance. The Dow Jones Industrial Average eked out a gain of less than 0.1 per cent to finish at 24,819.78, while the broad-based S&P 500 shed 0.3 per cent to settle at 2,744.45. The Wall Street Journal, citing unnamed sources, reported that the Justice Department and Federal Trade Commission had agreed to coordinate antitrust enforcement over the biggest tech companies, with Justice taking the lead on Google and the FTC handling Facebook and some aspects of Amazon. The report follows myriad controversies involving the companies and comes as some presidential candidates call for the giants to broken up. Shares of Facebook plunged 7.5 per cent, Alphabet dropped 6.1 per cent and Amazon 4.6 per cent. Other large technology companies also fell significantly, including Apple, Netflix, Salesforce and Microsoft. The latest probes "could be the start of a new anti-monopoly push in the industry," said Gorilla Trades strategist Ken Berman. The tech rout comes on the heels of a May equity sell-off as the US and China drifted further apart on trade and after US President Donald Trump announced new tariffs on all imports from Mexican starting June 10. US manufacturing industry activity slowed further in May in the wake of the latest exchange of US and Chinese tariffs, according to a survey by the Institute for Supply Management. The organization warned that the US tariffs on Mexico could significantly dent activity. That, along with the retreat in US construction spending in March and April, were the latest in a series of worrisome signs about the health of the US expansion. James Bullard, a voting member of the Federal Reserve's interest rate-setting committee, said in a speech on Monday that a rate cut "may be warranted soon" given uncertainty about trade conflicts and inflation well below the Fed's two per cent target. Most Fed officials so far have repeated the central bank's mantra that they can remain patient before deciding on the next move. The week's calendar also includes release of the much-anticipated US jobs report for May on Friday.

Alphabet, Facebook stocks dive over reports of US antitrust move against tech giants

<a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/google-facebook-twitter-have-to-do-more-to-fight-fake-news-european-union-212915&amp;sa=U&amp;ved=2ahUKEwijmJKSnffhAhUDaI8KHQzpANUQFjAHegQIARAC&amp;usg=AOvVaw2r-KzzMSaAafQjXa5G7qQ2">Google</a> parent Alphabet on Monday reported that profit in the first three months of this year sagged under the weight of a hefty antitrust fine in the European Union.

Alphabet said that profit in the first-quarter fell 29 percent to $6.7 billion on revenue that climbed 17 percent to $36.3 billion.

The earnings took a hit from a European Commission fine that amounted to $1.7 billion at the end of March, according to the quarterly update.

Google shares were down 7.2 percent to $1,202.39 in after-market trades that followed the release of the earnings report.

Though profits excluding the one-time costs were better than expected, revenue growth was below forecasts for the technology colossus which is the dominant internet search company and operator of the ubiquitous Android mobile operating system.

Chief financial officer Ruth Porat said in the release the results showed "robust growth" led by mobile search, ad revenues from YouTube videos and cloud computing.

"We remain focused on, and excited by, the significant growth opportunities across our businesses," Porat&nbsp;said.

Google's lucrative advertising platform remained the largest revenue driver for Alphabet, delivering more than $30 billion of revenues, but costs rose sharply as well.

Investors seemed concerned that earnings figures showed the growth rate of ad clicks slowed while the trend toward lower-priced mobile ads continued.

Rising cloud

The California giant showed widening losses for its "other bets" including the Waymo self-driving car project, Verily life sciences and services for internet for remote parts of the world and drone delivery.

"Other bets" showed an operating loss of $858 million, up from $571 million a year ago while revenues rose modestly to $170 million.

Some of the projects are moving closer to fruition.

Wing became the first drone delivery company to receive air carrier certification from the US Federal Aviation Administration.

Waymo has begun a limited rollout of its robotaxis in Arizona in partnership with automakers.

And, while the company's Pixel smartphones have seen traction slowed by heavy competition in the premium handset market, it was pleased with momentum for Home devices infused with digital assistant software.

Porat teased a hardware announcement along those lines at Google's annual developers conference next week in its home town of Mountain View, California.

It is seeing growth in cloud computing for businesses, a market where Google is competing against Amazon, Microsoft and others.

"Google Cloud Platform remains one of the fastest growing businesses in Alphabet with strong customer momentum reflected in particular in demand for our computer and data analytics products," Porat said in a call with analysts.

Google planned to continue investing heavily in data centres, engineers, and digital content for streaming video offerings on YouTube.

Google and 'techlash'

But Google continues to face pressure around the world from regulators, notably in Europe amid multiple investigations over alleged abuse of its dominance in internet search, advertising and its mobile system.

The latest fine imposed by Brussels cited Google's AdSense advertising service, saying it illegally restricted client websites from displaying messages from ad service rivals.

Google is separately working to satisfy EU regulators investigating its hugely popular Android devices following a $5 billion fine last year.

This month, Google said it would offer smartphone users five browsers and search engines as part of the company's effort to meet EU competition concerns.

Brussels accused Google of using the Android system's dominance of smartphones and tablets to promote the use of its own Google search engine and Chrome browser and shut out rivals.

In the United States, Google has been a target of President Donald Trump and his allies, accusing the search giant of "bias" and silencing conservative voices, claims denied by the Silicon Valley firm. 
&nbsp;

Google parent Alphabet on Monday reported that profit in the first three months of this year sagged under the weight of a hefty antitrust fine in the European Union.

Google parent Alphabet on Monday reported that profit in the first three months of this year sagged under the weight of a hefty antitrust fine in the European Union. Alphabet said that profit in the first-quarter fell 29 percent to $6.7 billion on revenue that climbed 17 percent to $36.3 billion. The earnings took a hit from a European Commission fine that amounted to $1.7 billion at the end of March, according to the quarterly update. Google shares were down 7.2 percent to $1,202.39 in after-market trades that followed the release of the earnings report. Though profits excluding the one-time costs were better than expected, revenue growth was below forecasts for the technology colossus which is the dominant internet search company and operator of the ubiquitous Android mobile operating system. Chief financial officer Ruth Porat said in the release the results showed "robust growth" led by mobile search, ad revenues from YouTube videos and cloud computing. "We remain focused on, and excited by, the significant growth opportunities across our businesses," Porat said. Google's lucrative advertising platform remained the largest revenue driver for Alphabet, delivering more than $30 billion of revenues, but costs rose sharply as well. Investors seemed concerned that earnings figures showed the growth rate of ad clicks slowed while the trend toward lower-priced mobile ads continued. Rising cloud The California giant showed widening losses for its "other bets" including the Waymo self-driving car project, Verily life sciences and services for internet for remote parts of the world and drone delivery. "Other bets" showed an operating loss of $858 million, up from $571 million a year ago while revenues rose modestly to $170 million. Some of the projects are moving closer to fruition. Wing became the first drone delivery company to receive air carrier certification from the US Federal Aviation Administration. Waymo has begun a limited rollout of its robotaxis in Arizona in partnership with automakers. And, while the company's Pixel smartphones have seen traction slowed by heavy competition in the premium handset market, it was pleased with momentum for Home devices infused with digital assistant software. Porat teased a hardware announcement along those lines at Google's annual developers conference next week in its home town of Mountain View, California. It is seeing growth in cloud computing for businesses, a market where Google is competing against Amazon, Microsoft and others. "Google Cloud Platform remains one of the fastest growing businesses in Alphabet with strong customer momentum reflected in particular in demand for our computer and data analytics products," Porat said in a call with analysts. Google planned to continue investing heavily in data centres, engineers, and digital content for streaming video offerings on YouTube. Google and 'techlash' But Google continues to face pressure around the world from regulators, notably in Europe amid multiple investigations over alleged abuse of its dominance in internet search, advertising and its mobile system. The latest fine imposed by Brussels cited Google's AdSense advertising service, saying it illegally restricted client websites from displaying messages from ad service rivals. Google is separately working to satisfy EU regulators investigating its hugely popular Android devices following a $5 billion fine last year. This month, Google said it would offer smartphone users five browsers and search engines as part of the company's effort to meet EU competition concerns. Brussels accused Google of using the Android system's dominance of smartphones and tablets to promote the use of its own Google search engine and Chrome browser and shut out rivals. In the United States, Google has been a target of President Donald Trump and his allies, accusing the search giant of "bias" and silencing conservative voices, claims denied by the Silicon Valley firm.

European Union fine on Google weighs down parent company Alphabet's profits

Alphabet Inc's Google will ban political advertising on its platform before the Canadian federal election after the country introduced stringent transparency rules.

The Bill C-76, which was passed in December, requires online platforms to keep a registry of all political and partisan advertisements they directly or indirectly publish.

"For the duration of the 2019 federal election campaign, Google will not accept advertising regulated by Bill C-76," Colin McKay, Google Canada's head of public policy, said in a statement.

"We're focusing our efforts on supporting Canadian news literacy programs and connecting people to useful and relevant election-related information."

The election is due in October in Canada.

Google will modify its ad policies and systems to block advertisers from running ads that fall under the purview of the definitions set out in Bill C-76.

Other Google services such as enhanced search results and platforms, including YouTube, will still be available during the campaign period.

This was first reported by the Globe and Mail.

Alphabet Inc's Google will ban political advertising on its platform before the Canadian federal election after the country introduced stringent transparency rules.

Alphabet Inc's Google will ban political advertising on its platform before the Canadian federal election after the country introduced stringent transparency rules. The Bill C-76, which was passed in December, requires online platforms to keep a registry of all political and partisan advertisements they directly or indirectly publish. "For the duration of the 2019 federal election campaign, Google will not accept advertising regulated by Bill C-76," Colin McKay, Google Canada's head of public policy, said in a statement. "We're focusing our efforts on supporting Canadian news literacy programs and connecting people to useful and relevant election-related information." The election is due in October in Canada. Google will modify its ad policies and systems to block advertisers from running ads that fall under the purview of the definitions set out in Bill C-76. Other Google services such as enhanced search results and platforms, including YouTube, will still be available during the campaign period. This was first reported by the Globe and Mail.

Google plans to ban political ads before Canada election

Spotify Technology SA, the world's most popular paid music streaming service, said it racked up more than 1 million unique users in India across its free and premium tiers since launching less than a week ago.

Spotify launched in India on Tuesday, stepping into a price-sensitive market crowded by well-funded players such as Reliance Industries' JioSaavn and Apple's Apple Music.

The Swedish company is offering a free version that will run with ads, alongside a premium ad-free variant that will charge users 119 Indian rupees ($1.68) per month.

India, with a population of 1.3 billion and more than 400 million smartphone users, is a potentially huge market for the Swedish company.

According to media reports, Tencent-backed Gaana leads the Indian streaming market with over 80 million monthly users. Spotify has 207 million monthly active users globally and 96 million subscribers.

In India, the streaming service also competes with other players including Amazon's Prime Music, Alphabet Inc's Google Play Music and Xiaomi-backed Hungama.

Spotify Technology SA, the world's most popular paid music streaming service, said it racked up more than 1 million unique users in India across its free and premium tiers since launching less than a week ago.

Spotify Technology SA, the world's most popular paid music streaming service, said it racked up more than 1 million unique users in India across its free and premium tiers since launching less than a week ago. Spotify launched in India on Tuesday, stepping into a price-sensitive market crowded by well-funded players such as Reliance Industries' JioSaavn and Apple's Apple Music. The Swedish company is offering a free version that will run with ads, alongside a premium ad-free variant that will charge users 119 Indian rupees ($1.68) per month. India, with a population of 1.3 billion and more than 400 million smartphone users, is a potentially huge market for the Swedish company. According to media reports, Tencent-backed Gaana leads the Indian streaming market with over 80 million monthly users. Spotify has 207 million monthly active users globally and 96 million subscribers. In India, the streaming service also competes with other players including Amazon's Prime Music, Alphabet Inc's Google Play Music and Xiaomi-backed Hungama.

Spotify adds 1 million unique listeners in India in less than a week

Alphabet Inc reported sharply higher fourth-quarter spending on video content, employees and facilities, worrying investors who sent the tech company's shares down about 3 per cent after hours on Monday.

Google's <a href="http://www.wionews.com/world/alphabet-board-sued-on-allegations-of-sexual-misconduct-cover-up-189502">parent company</a>&nbsp;beat Wall Street's estimates for revenue and profit, but the bigger-than-expected spending prompted investors to question whether cash funnelled into Alphabet's newer businesses will generate the returns that its search engine unit historically has.

"While the core business is still growing impressively, the significant spending shows growth isn’t quite as capital-light as had been hoped," said George Salmon, a stock analyst at financial firm Hargreaves Lansdown.

The company reported $31.07 billion in total fourth-quarter costs and expenses, up 26 per cent from last year. Capital expenditures rose 64 per cent compared to last year, up to $7.08 billion.

Spending was pushed higher by Google boosting staffing on its cloud computing division, promoting its consumer devices and YouTube subscription packages and acquiring office buildings in Silicon Valley and New York City.

Alphabet Chief Financial Officer Ruth Porat told analysts that capital expenditures would moderate significantly this year, but the company would continue to invest in long-term bets on artificial intelligence services, consumer hardware and emerging markets.

Revenue, profit beats

Alphabet's fourth-quarter revenue rose 22 per cent from a year ago to $39.28 billion, compared with Wall Street's average estimate of $38.93 billion, according to IBES data from Refinitiv. About 83 per cent of the revenue came from Google's ad system.

Heavy advertising in the run-up to the holiday shopping season boosted sales. Google Chief Executive Sundar Pichai told analysts the number of people shopping on Google.com each day during the holidays doubled over last year.

Profit for the quarter was $8.95 billion, or $12.77 per share, compared with a $3 billion loss a year ago. That beat analysts' average estimates of $7.69 billion, or $10.87 per share.

Partly because of the higher spending, the Alphabet's operating margin was 21 per cent, down from 24 per cent in the year-ago period.

"For a growth company, investment should be applauded," said Atlantic Equities analyst James Cordwell. "But a lot of the additional expenditure is going into the cloud where it is unclear whether there will ever be a return on that investment." Google remains behind rival Amazon.com Inc in the cloud, said Cordwell.

The company has authorized a plan to buy back an additional $12.5 billion worth of its shares, Porat said.

No news on waymo

Google's mostly free search, video and productivity tools are used by billions of people across the world, despite a backlash in some countries over how the company uses and protects customer information.

Investors concerned that Alphabet's future growth, especially in emerging markets, will not match its previous rates, are looking to the company's other businesses to provide new streams of revenue. But Alphabet gave away little new information on its other ventures on Monday.

It gave no indication when its self-driving car company Waymo will generate noticeable revenue. In October, Alphabet said Waymo had begun revenue-generating rides within a small section of Arizona but did not break out the company's financials.

Pichai said Google's cloud computing unit last year doubled the number of deals it struck worth more than $1 million. The cloud unit's G Suite productivity product now has 5 million customers, he said, up from 4 million in last year's first quarter.

Alphabet Inc reported sharply higher fourth-quarter spending on video content, employees and facilities, worrying investors who sent the tech company's shares down about 3 per cent after hours on Monday.

Alphabet Inc reported sharply higher fourth-quarter spending on video content, employees and facilities, worrying investors who sent the tech company's shares down about 3 per cent after hours on Monday. Google's parent company beat Wall Street's estimates for revenue and profit, but the bigger-than-expected spending prompted investors to question whether cash funnelled into Alphabet's newer businesses will generate the returns that its search engine unit historically has. "While the core business is still growing impressively, the significant spending shows growth isn’t quite as capital-light as had been hoped," said George Salmon, a stock analyst at financial firm Hargreaves Lansdown. The company reported $31.07 billion in total fourth-quarter costs and expenses, up 26 per cent from last year. Capital expenditures rose 64 per cent compared to last year, up to $7.08 billion. Spending was pushed higher by Google boosting staffing on its cloud computing division, promoting its consumer devices and YouTube subscription packages and acquiring office buildings in Silicon Valley and New York City. Alphabet Chief Financial Officer Ruth Porat told analysts that capital expenditures would moderate significantly this year, but the company would continue to invest in long-term bets on artificial intelligence services, consumer hardware and emerging markets. Revenue, profit beats Alphabet's fourth-quarter revenue rose 22 per cent from a year ago to $39.28 billion, compared with Wall Street's average estimate of $38.93 billion, according to IBES data from Refinitiv. About 83 per cent of the revenue came from Google's ad system. Heavy advertising in the run-up to the holiday shopping season boosted sales. Google Chief Executive Sundar Pichai told analysts the number of people shopping on Google.com each day during the holidays doubled over last year. Profit for the quarter was $8.95 billion, or $12.77 per share, compared with a $3 billion loss a year ago. That beat analysts' average estimates of $7.69 billion, or $10.87 per share. Partly because of the higher spending, the Alphabet's operating margin was 21 per cent, down from 24 per cent in the year-ago period. "For a growth company, investment should be applauded," said Atlantic Equities analyst James Cordwell. "But a lot of the additional expenditure is going into the cloud where it is unclear whether there will ever be a return on that investment." Google remains behind rival Amazon.com Inc in the cloud, said Cordwell. The company has authorized a plan to buy back an additional $12.5 billion worth of its shares, Porat said. No news on waymo Google's mostly free search, video and productivity tools are used by billions of people across the world, despite a backlash in some countries over how the company uses and protects customer information. Investors concerned that Alphabet's future growth, especially in emerging markets, will not match its previous rates, are looking to the company's other businesses to provide new streams of revenue. But Alphabet gave away little new information on its other ventures on Monday. It gave no indication when its self-driving car company Waymo will generate noticeable revenue. In October, Alphabet said Waymo had begun revenue-generating rides within a small section of Arizona but did not break out the company's financials. Pichai said Google's cloud computing unit last year doubled the number of deals it struck worth more than $1 million. The cloud unit's G Suite productivity product now has 5 million customers, he said, up from 4 million in last year's first quarter.

Alphabet's higher spending worries investors, shares dip

Two shareholder lawsuits filed this week accused the board of Google parent Alphabet of playing a direct role in covering up sexual misconduct claims against two former executives over the last five years.

The company declined to comment.

Both of the lawsuits seek to force Google to change its governance and oversight to stop future workplace conduct issues. They also call for Alphabet directors to pay damages to Alphabet for allegedly breaching their fiduciary duties and engaging in corporate waste.

The allegations stem primarily from large severance payments to Andy Rubin, who led Google's Android mobile operating division until 2014, and Amit Singhal, head of Google's search unit until 2016. Company investigations into both men had found accusations of sexual harassment against them to be credible, according to the lawsuits.

Rubin and Singhal have denied the allegations. Google Chief Executive Sundar Pichai apologized last year to employees for the companies' past handling of sexual misconduct cases and vowed to improve practices.

One of the two lawsuits in San Mateo County Superior Court in California cites minutes from Alphabet board and board committee meetings where the executives' situations were discussed.

Plaintiff James Martin obtained the documents through a "shareholder inspection demand," according to the lawsuit. Google provided them on the condition they not be published, according to his attorneys, and details from the minutes are redacted across at least eight pages in the 82-page lawsuit filed on Thursday.

Martin's attorney, Frank Bottini, said his team plans to show that Google suffered hundreds of millions of dollars in damages including payouts made to executives accused of sexual misconduct, lost productivity from employees around the world walking off the job briefly in November to protest the payouts and hits to its brand reputation.

The employee demonstrations followed a New York Times report in October that said Google in 2014 gave a $90 million exit package to Rubin.

Ellen Winick Stross, an attorney for Rubin, said on Thursday that Martin's lawsuit, "like much of the recent media coverage, mischaracterizes Andy’s departure from Google and sensationalizes claims made about Andy by his ex-wife. Andy left Google voluntarily. Andy denies any misconduct, and we look forward to telling his story in court."

Employee organizers said they welcomed the lawsuits as they continue to push for further changes, including an employee representative on Alphabet's board.

The lawsuit calls for Alphabet to add at least three independent directors to its board and move to a "one share, one vote" stock structure to increase shareholder oversight of management decisions. Alphabet executives currently hold voting control through shares with 10 votes each.

"We'd like to see ... meaningful change in the tone at the company, the policies, the treatment of women, the reporting of sexual harassment and other issues," Bottini said.

The second case, brought on Wednesday by Northern California Pipe Trades Pension Plan and Teamsters Local 272 Labor Management Pension Fund, cites company filings and media reports. They are represented by the law firm Cohen Milstein Sellers and Toll.

Two shareholder lawsuits filed this week accused the board of Google parent Alphabet of playing a direct role in covering up sexual misconduct claims against two former executives over the last five years.

Two shareholder lawsuits filed this week accused the board of Google parent Alphabet of playing a direct role in covering up sexual misconduct claims against two former executives over the last five years. The company declined to comment. Both of the lawsuits seek to force Google to change its governance and oversight to stop future workplace conduct issues. They also call for Alphabet directors to pay damages to Alphabet for allegedly breaching their fiduciary duties and engaging in corporate waste. The allegations stem primarily from large severance payments to Andy Rubin, who led Google's Android mobile operating division until 2014, and Amit Singhal, head of Google's search unit until 2016. Company investigations into both men had found accusations of sexual harassment against them to be credible, according to the lawsuits. Rubin and Singhal have denied the allegations. Google Chief Executive Sundar Pichai apologized last year to employees for the companies' past handling of sexual misconduct cases and vowed to improve practices. One of the two lawsuits in San Mateo County Superior Court in California cites minutes from Alphabet board and board committee meetings where the executives' situations were discussed. Plaintiff James Martin obtained the documents through a "shareholder inspection demand," according to the lawsuit. Google provided them on the condition they not be published, according to his attorneys, and details from the minutes are redacted across at least eight pages in the 82-page lawsuit filed on Thursday. Martin's attorney, Frank Bottini, said his team plans to show that Google suffered hundreds of millions of dollars in damages including payouts made to executives accused of sexual misconduct, lost productivity from employees around the world walking off the job briefly in November to protest the payouts and hits to its brand reputation. The employee demonstrations followed a New York Times report in October that said Google in 2014 gave a $90 million exit package to Rubin. Ellen Winick Stross, an attorney for Rubin, said on Thursday that Martin's lawsuit, "like much of the recent media coverage, mischaracterizes Andy’s departure from Google and sensationalizes claims made about Andy by his ex-wife. Andy left Google voluntarily. Andy denies any misconduct, and we look forward to telling his story in court." Employee organizers said they welcomed the lawsuits as they continue to push for further changes, including an employee representative on Alphabet's board. The lawsuit calls for Alphabet to add at least three independent directors to its board and move to a "one share, one vote" stock structure to increase shareholder oversight of management decisions. Alphabet executives currently hold voting control through shares with 10 votes each. "We'd like to see ... meaningful change in the tone at the company, the policies, the treatment of women, the reporting of sexual harassment and other issues," Bottini said. The second case, brought on Wednesday by Northern California Pipe Trades Pension Plan and Teamsters Local 272 Labor Management Pension Fund, cites company filings and media reports. They are represented by the law firm Cohen Milstein Sellers and Toll.

Alphabet board sued on allegations of sexual misconduct cover-up

Google moved 19.9 billion euros ($22.7 billion) through a Dutch shell company to Bermuda in 2017, as part of an arrangement that allows it to reduce its foreign tax bill, according to documents filed at the Dutch Chamber of Commerce.

The amount channelled through Google Netherlands Holdings BV was around 4 billion euros more than in 2016, the documents, filed on December 21, showed.

"We pay all of the taxes due and comply with the tax laws in every country we operate in around the world," Google said in a statement.

"Google, like other multinational companies, pays the vast majority of its corporate income tax in its home country, and we have paid a global effective tax rate of 26 per cent over the last ten years."

For more than a decade the arrangement has allowed Google owner Alphabet&nbsp;to enjoy an effective tax rate in the single digits on its non-US profits, around a quarter the average tax rate in its overseas markets.

The subsidiary in the Netherlands is used to shift revenue from royalties earned outside the United States to Google Ireland Holdings, an affiliate based in Bermuda, where companies pay no income tax.

The tax strategy, known as the "Double Irish, Dutch Sandwich", is legal and allows Google to avoid triggering US income taxes or European withholding taxes on the funds, which represent the bulk of its overseas profits.

However, under pressure from the European Union and the United States, Ireland in 2014 decided to phase out the arrangement, ending Google's tax advantages in 2020.

Google Netherlands Holdings BV paid 3.4 million euros in taxes in the Netherlands in 2017, the documents showed, on a gross profit of 13.6 million euros.

The amount channelled through Google Netherlands Holdings BV was around 4 billion euros more than in 2016, the documents, filed on December 21, showed.

Google moved 19.9 billion euros ($22.7 billion) through a Dutch shell company to Bermuda in 2017, as part of an arrangement that allows it to reduce its foreign tax bill, according to documents filed at the Dutch Chamber of Commerce. The amount channelled through Google Netherlands Holdings BV was around 4 billion euros more than in 2016, the documents, filed on December 21, showed. "We pay all of the taxes due and comply with the tax laws in every country we operate in around the world," Google said in a statement. "Google, like other multinational companies, pays the vast majority of its corporate income tax in its home country, and we have paid a global effective tax rate of 26 per cent over the last ten years." For more than a decade the arrangement has allowed Google owner Alphabet to enjoy an effective tax rate in the single digits on its non-US profits, around a quarter the average tax rate in its overseas markets. The subsidiary in the Netherlands is used to shift revenue from royalties earned outside the United States to Google Ireland Holdings, an affiliate based in Bermuda, where companies pay no income tax. The tax strategy, known as the "Double Irish, Dutch Sandwich", is legal and allows Google to avoid triggering US income taxes or European withholding taxes on the funds, which represent the bulk of its overseas profits. However, under pressure from the European Union and the United States, Ireland in 2014 decided to phase out the arrangement, ending Google's tax advantages in 2020. Google Netherlands Holdings BV paid 3.4 million euros in taxes in the Netherlands in 2017, the documents showed, on a gross profit of 13.6 million euros.

Google shifted $23 billion to tax haven Bermuda in 2017: Report

Wall Street was back in aggressive sell-off mode on Friday, with major stock indices losing more than two per cent following disappointing earnings announcements from Amazon and Google parent Alphabet.

Near 1455 GMT, the Dow Jones Industrial Average was down 2.1 per cent at 24,470.18.

The broad-based S&amp;P 500 shed 2.8 per cent to 2,631.14, while the tech-rich Nasdaq Composite Index tumbled 3.4 per cent to 7,066.69.

Wall Street was back in aggressive sell-off mode on Friday, with major stock indices losing more than two per cent following disappointing earnings announcements from Amazon and Google parent Alphabet.

Wall Street was back in aggressive sell-off mode on Friday, with major stock indices losing more than two per cent following disappointing earnings announcements from Amazon and Google parent Alphabet. Near 1455 GMT, the Dow Jones Industrial Average was down 2.1 per cent at 24,470.18. The broad-based S&P 500 shed 2.8 per cent to 2,631.14, while the tech-rich Nasdaq Composite Index tumbled 3.4 per cent to 7,066.69.

US stocks losses deepen amid tech selloff; Dow -2.1%, Nasdaq: -3.4%

Alphabet Inc's Google will shut down the consumer version of its failed social network Google+ and tighten its data sharing policies after announcing on Monday that private profile data of at least 500,000 users may have been exposed to hundreds of external developers.

The issue was discovered and patched in March as part of a review of how Google shares data with other applications, Google said in a blog post. No developer exploited the vulnerability or misused data, the review found.

Shares of its parent company Alphabet closed down 1 per cent at $1155.92 following the latest in a run of privacy issues to hit big US&nbsp;tech companies.

The Wall Street Journal reported earlier that Google opted not to disclose the security issue due to fears of regulatory scrutiny, citing unnamed sources and a memo prepared by Google's legal and policy staff for senior executives.

Google feared disclosure would invite comparison to Facebook Inc's leak of user information to data firm Cambridge Analytica, the Journal reported, adding that Chief Executive Sundar Pichai had been briefed on the issue. Google declined to comment beyond its blog post.

Google said on Monday none of the thresholds it requires to disclose a breach were met after reviewing the type of data involved, whether it could identify the users to inform, establish any evidence of misuse, and whether there were any actions a developer or user could take to protect themselves.

Security and privacy experts and financial analysts questioned the decision.

"Users have the right to be notified if their information could have been compromised," said Jacob Lehmann, managing director at legal firm Friedman CyZen. "This is a direct result of the scrutiny that Facebook dealt with regarding the Cambridge Analytica scandal."

Facebook challenger

Google+ launched in 2011 as the advertising giant grew more concerned about competition from Facebook, which could pinpoint ads to users based on data they had shared about their friends, likes and online activity.

Google+ copied Facebook with status updates and news feeds and let people organise their groups of friends into what it calls "circles."

But Google+ and the company's other experiments with social media struggled to win over users because of complicated features and privacy mishaps.

Facebook introduced a feature that allowed users to connect their accounts with their profiles on dating, music and other apps.

Google followed suit, letting outside developers access some Google+ data with users' permission. The bug disclosed on Monday, introduced in a software update, exposed private data including name, email address, occupation, gender and age, Google said. It could not definitely say how many users were affected because it said it keeps only two weeks of such records.

Google+ will remain an internal networking option for organizations that buy Google's G Suite, a bundle of apps for creating documents, spreadsheets and presentations.

Google's plan to withdraw the free version of Google+, scheduled for August, could help strengthen its case to US&nbsp;policymakers and regulators that it is different from Facebook, which has faced political heat over allegations that data belonging to 87 million of its users was improperly shared with political consultancy Cambridge Analytica.

Google refused to send Pichai to a Senate Intelligence Committee hearing on Sept. 5, where Facebook's chief operating officer and Twitter Inc's chief executive testified. An empty chair was left for Google after the committee rejected Google’s top lawyer as a witness.

Several policies Google introduced on Monday are designed to curb the data accessible to developers offering mobile apps on the Google Play store or add-on apps for sending and organising Gmail messages.

Play Store apps will no longer be allowed to access text message and call logs unless they are the default calling or texting app on a user's device or have an exception from Google.

Gmail add-ons available to consumers starting next year will be barred from selling user data and be subject to a third-party security assessment that will cost them about $15,000 to $75,000, Google said.

Such moves could strengthen Google by making it harder for competing services to grow off its data, said Chris Messina, a designer who worked on Google+ before leaving in 2013. "In 2011, you wanted casual, scrappy developers creating apps, and now it is going to require a professional class that is serious. The walls are going up."

Alphabet Inc's Google will shut down the consumer version of its failed social network Google+ and tighten its data sharing policies after announcing on Monday that private profile data of at least 500,000 users may have been exposed to hundreds of external developers.

Alphabet Inc's Google will shut down the consumer version of its failed social network Google+ and tighten its data sharing policies after announcing on Monday that private profile data of at least 500,000 users may have been exposed to hundreds of external developers. The issue was discovered and patched in March as part of a review of how Google shares data with other applications, Google said in a blog post. No developer exploited the vulnerability or misused data, the review found. Shares of its parent company Alphabet closed down 1 per cent at $1155.92 following the latest in a run of privacy issues to hit big US tech companies. The Wall Street Journal reported earlier that Google opted not to disclose the security issue due to fears of regulatory scrutiny, citing unnamed sources and a memo prepared by Google's legal and policy staff for senior executives. Google feared disclosure would invite comparison to Facebook Inc's leak of user information to data firm Cambridge Analytica, the Journal reported, adding that Chief Executive Sundar Pichai had been briefed on the issue. Google declined to comment beyond its blog post. Google said on Monday none of the thresholds it requires to disclose a breach were met after reviewing the type of data involved, whether it could identify the users to inform, establish any evidence of misuse, and whether there were any actions a developer or user could take to protect themselves. Security and privacy experts and financial analysts questioned the decision. "Users have the right to be notified if their information could have been compromised," said Jacob Lehmann, managing director at legal firm Friedman CyZen. "This is a direct result of the scrutiny that Facebook dealt with regarding the Cambridge Analytica scandal." Facebook challenger Google+ launched in 2011 as the advertising giant grew more concerned about competition from Facebook, which could pinpoint ads to users based on data they had shared about their friends, likes and online activity. Google+ copied Facebook with status updates and news feeds and let people organise their groups of friends into what it calls "circles." But Google+ and the company's other experiments with social media struggled to win over users because of complicated features and privacy mishaps. Facebook introduced a feature that allowed users to connect their accounts with their profiles on dating, music and other apps. Google followed suit, letting outside developers access some Google+ data with users' permission. The bug disclosed on Monday, introduced in a software update, exposed private data including name, email address, occupation, gender and age, Google said. It could not definitely say how many users were affected because it said it keeps only two weeks of such records. Google+ will remain an internal networking option for organizations that buy Google's G Suite, a bundle of apps for creating documents, spreadsheets and presentations. Google's plan to withdraw the free version of Google+, scheduled for August, could help strengthen its case to US policymakers and regulators that it is different from Facebook, which has faced political heat over allegations that data belonging to 87 million of its users was improperly shared with political consultancy Cambridge Analytica. Google refused to send Pichai to a Senate Intelligence Committee hearing on Sept. 5, where Facebook's chief operating officer and Twitter Inc's chief executive testified. An empty chair was left for Google after the committee rejected Google’s top lawyer as a witness. Several policies Google introduced on Monday are designed to curb the data accessible to developers offering mobile apps on the Google Play store or add-on apps for sending and organising Gmail messages. Play Store apps will no longer be allowed to access text message and call logs unless they are the default calling or texting app on a user's device or have an exception from Google. Gmail add-ons available to consumers starting next year will be barred from selling user data and be subject to a third-party security assessment that will cost them about $15,000 to $75,000, Google said. Such moves could strengthen Google by making it harder for competing services to grow off its data, said Chris Messina, a designer who worked on Google+ before leaving in 2013. "In 2011, you wanted casual, scrappy developers creating apps, and now it is going to require a professional class that is serious. The walls are going up."

Google+ to shut down after data of at least 500,000 users exposed

Walmart is likely to announce its much-anticipated deal to buy a controlling stake in Indian e-commerce company Flipkart, in what is likely to be the US retail giant’s biggest acquisition.&nbsp;

Bentonville, Arkansas-based Walmart and its partner in the deal, Google parent Alphabet Inc, are looking to buy up to three-quarters of Flipkart. Walmart will look to own a roughly 60 percent stake, while Alphabet will get about 15 percent ownership of the online marketplace, sources added. The deal is likely to value Flipkart at roughly $18 billion to $20 billion.

Indian media reported last week that Amazon.com Inc, which has been pouring billions of dollars into India to ship goods to shoppers faster, had made a formal offer to buy 60 percent of Flipkart but that Flipkart’s founders preferred Walmart.

Below are key facts about Flipkart:

The company was founded in 2007 in the southern Indian city of Bengaluru by Sachin Bansal and Binny Bansal. The Bansals, who are not related, met in 2005 at the Indian Institute of Technology, Delhi. They are both former employees of Amazon.

Flipkart at first sold books, later expanding to sell music, movies, games, electronics and mobiles, the category that has driven growth. The first book it sold was John Wood’s Leaving Microsoft to Change the World. It launched logistics arm Ekart in 2010 and started the now popular cash-on-delivery service.

It opened its first office in Bengaluru in 2008 and opened offices in Delhi and Mumbai in 2009. Last month, Flipkart consolidated all its Bengaluru offices in one large campus.

In 2011, Flipkart domiciled to Singapore, as it looked to woo foreign investors to fund rapid growth. The first billion-dollar Indian e-commerce company, Flipkart sells 8 million products across 80 plus categories. It has 100 million registered users, 100,000 sellers, 21 warehouses, 10 million daily page visits.

Key people:

In 2016, Binny Bansal took over as CEO and Sachin Bansal became executive chairman. Last year, Kalyan Krishnamurthy, previously an executive in Flipkart investor Tiger Global, took over as Flipkart CEO.

Binny Bansal became CEO of the whole group, which includes fashion portals Myntra-Jabong, payments unit PhonePe and logistics firm Ekart.

The company’s board has seven members. Dropbox Inc’s chief technology officer, Aditya Agarwal, joined the board in 2014.

Mergers & Acquisitions:

Bought online apparel retailer Myntra in a deal pegged by sources at about $300 million in 2014, and another retailer Jabong for $70 million in 2016.

Last year, Flipkart offered to buy rival Snapdeal but the deal fell through. SoftBank, Flipkart’s largest investor, also has a stake in Snapdeal, as does China’s Alibaba Group Holding Ltd.

Flipkart bought payment startup PhonePe in 2016. In exchange for an equity stake in Flipkart, eBay agreed to make a $500 million cash investment in and sell its eBay.in business to Flipkart in 2017.

Investors:

Japan’s SoftBank Group Corp owns a fifth of Flipkart through its Vision Fund. SoftBank expected to sell its whole stake in the Walmart deal, Reuters reported last week.

Early investors New York-based hedge fund Tiger Global and U.S. private-equity firm Accel Partners will sell a majority of their stakes, Reuters reported on Tuesday.

Other investors include the founders and Napsers Ltd. China’s Tencent Holdings Ltd, eBay Inc and Microsoft Corp invested $1.4 billion last year.

Financials, according to filings sourced by business intelligence platform paper.vc:

Flipkart Group’s consolidated loss attributable to owners of the company in fiscal 2017 widened to 87.70 billion rupees, from 52.16 billion rupees a year earlier.

Consolidated revenue jumped 29 percent to 198.55 billion in fiscal 2017. 
&nbsp;

Walmart is likely to announce its much-anticipated deal to buy a controlling stake in Indian e-commerce company Flipkart before the end of this week.

Walmart is likely to announce its much-anticipated deal to buy a controlling stake in Indian e-commerce company Flipkart, in what is likely to be the US retail giant’s biggest acquisition. Bentonville, Arkansas-based Walmart and its partner in the deal, Google parent Alphabet Inc, are looking to buy up to three-quarters of Flipkart. Walmart will look to own a roughly 60 percent stake, while Alphabet will get about 15 percent ownership of the online marketplace, sources added. The deal is likely to value Flipkart at roughly $18 billion to $20 billion. Indian media reported last week that Amazon.com Inc, which has been pouring billions of dollars into India to ship goods to shoppers faster, had made a formal offer to buy 60 percent of Flipkart but that Flipkart’s founders preferred Walmart. Below are key facts about Flipkart: The company was founded in 2007 in the southern Indian city of Bengaluru by Sachin Bansal and Binny Bansal. The Bansals, who are not related, met in 2005 at the Indian Institute of Technology, Delhi. They are both former employees of Amazon. Flipkart at first sold books, later expanding to sell music, movies, games, electronics and mobiles, the category that has driven growth. The first book it sold was John Wood’s Leaving Microsoft to Change the World. It launched logistics arm Ekart in 2010 and started the now popular cash-on-delivery service. It opened its first office in Bengaluru in 2008 and opened offices in Delhi and Mumbai in 2009. Last month, Flipkart consolidated all its Bengaluru offices in one large campus. In 2011, Flipkart domiciled to Singapore, as it looked to woo foreign investors to fund rapid growth. The first billion-dollar Indian e-commerce company, Flipkart sells 8 million products across 80 plus categories. It has 100 million registered users, 100,000 sellers, 21 warehouses, 10 million daily page visits. Key people: In 2016, Binny Bansal took over as CEO and Sachin Bansal became executive chairman. Last year, Kalyan Krishnamurthy, previously an executive in Flipkart investor Tiger Global, took over as Flipkart CEO. Binny Bansal became CEO of the whole group, which includes fashion portals Myntra-Jabong, payments unit PhonePe and logistics firm Ekart. The company’s board has seven members. Dropbox Inc’s chief technology officer, Aditya Agarwal, joined the board in 2014. Mergers & Acquisitions: Bought online apparel retailer Myntra in a deal pegged by sources at about $300 million in 2014, and another retailer Jabong for $70 million in 2016. Last year, Flipkart offered to buy rival Snapdeal but the deal fell through. SoftBank, Flipkart’s largest investor, also has a stake in Snapdeal, as does China’s Alibaba Group Holding Ltd. Flipkart bought payment startup PhonePe in 2016. In exchange for an equity stake in Flipkart, eBay agreed to make a $500 million cash investment in and sell its eBay.in business to Flipkart in 2017. Investors: Japan’s SoftBank Group Corp owns a fifth of Flipkart through its Vision Fund. SoftBank expected to sell its whole stake in the Walmart deal, Reuters reported last week. Early investors New York-based hedge fund Tiger Global and U.S. private-equity firm Accel Partners will sell a majority of their stakes, Reuters reported on Tuesday. Other investors include the founders and Napsers Ltd. China’s Tencent Holdings Ltd, eBay Inc and Microsoft Corp invested $1.4 billion last year. Financials, according to filings sourced by business intelligence platform paper.vc: Flipkart Group’s consolidated loss attributable to owners of the company in fiscal 2017 widened to 87.70 billion rupees, from 52.16 billion rupees a year earlier. Consolidated revenue jumped 29 percent to 198.55 billion in fiscal 2017.

Flipkart: A look at the journey of India's e-commerce giant

Indian e-commerce firm Flipkart's board is yet to finalise a deal to sell a controlling stake to Walmart Inc, two sources with direct knowledge of the matter said on Friday, adding a deal could just be days away.

Bloomberg reported earlier on Friday, citing unidentified sources, that Flipkart's board had approved a deal to sell a stake of about 75 percent in the company to a group led by US&nbsp;retail giant Walmart for about $15 billion.

A third source told Reuters that while Flipkart's board had "in-principle" approved engaging with Walmart based on the terms of an offer before them, taxation-related concerns and a few other issues need to be resolved.

The first two sources said Alphabet Inc is also likely to invest in Flipkart alongside Walmart, but terms of the deal may change. Japan's SoftBank Group, the biggest investor in the Indian firm through its private equity fund, is considering selling its roughly 20 percent stake as part of the deal if the price is right, two other sources said.

"SoftBank does not like to be a passive investor," one of the sources said.

Reuters had previously reported Walmart was in advanced talks with Flipkart to acquire a controlling stake in the Bengaluru-based online marketplace at a valuation of at least $18 billion.

Flipkart has bought back $350 million worth of shares from its investors as it seeks to convert its Singapore-incorporated company to a private limited firm, in a move that could ease the way in for a new strategic investor, regulatory filings show.

Flipkart and Alphabet did not respond to Reuters' requests seeking comment. Walmart and SoftBank declined to comment.

AMAZON OFFER

Earlier this week, Indian TV channel CNBC-TV18 reported Amazon Inc had made a formal offer to buy 60 percent of Flipkart and that it had also proposed a $2 billion breakup fee to convince Flipkart to discuss its offer.

Sources told Reuters that Amazon had shown an interest in buying Flipkart, but said a deal with Walmart was much more likely to go through. Amazon is Flipkart's biggest rival in India.

Amazon's move to bid for Flipkart may push up valuations of the Indian firm, but engaging with the tech giant could be fraught with risks for Flipkart, said industry insiders and lawyers.

Beyond the risk of opening its books for due diligence and exposing sensitive commercial agreements to its biggest rival in India, an Amazon-Flipkart combination could face significant antitrust hurdles, they said.

Amazon is currently seeking legal opinion to understand how the country's antitrust regulator, the Competition Commission of India (CCI), is likely to view any deal with Flipkart, a lawyer and an industry source familiar with the matter told Reuters.

A former senior CCI official said e-commerce firms were already giving deep discounts and an Amazon-Flipkart union was likely to be in a position to sway the market their way, but the CCI could be convinced to approve a deal if both firms suggested "innovations or remedies."

"This definitely would be a tricky case and not easy to sail through," he added.

Amazon declined to comment on whether it had bid for Flipkart or was seeking legal opinion for a potential investment in the firm.

Flipkart, together with its fashion units Myntra and Jabong, controls nearly 40 percent of India's online retail market, while Amazon is a close second with a 31 percent share, according to data from research firm Forrester.

Both Amazon and Flipkart are pouring billions of dollars into winning shoppers in the fast-growing market that is expected to be worth $200 billion within a decade.

&nbsp;

The terms and conditions of the deal are still being discussed upon and are subject to change

Indian e-commerce firm Flipkart's board is yet to finalise a deal to sell a controlling stake to Walmart Inc, two sources with direct knowledge of the matter said on Friday, adding a deal could just be days away. Bloomberg reported earlier on Friday, citing unidentified sources, that Flipkart's board had approved a deal to sell a stake of about 75 percent in the company to a group led by US retail giant Walmart for about $15 billion. A third source told Reuters that while Flipkart's board had "in-principle" approved engaging with Walmart based on the terms of an offer before them, taxation-related concerns and a few other issues need to be resolved. The first two sources said Alphabet Inc is also likely to invest in Flipkart alongside Walmart, but terms of the deal may change. Japan's SoftBank Group, the biggest investor in the Indian firm through its private equity fund, is considering selling its roughly 20 percent stake as part of the deal if the price is right, two other sources said. "SoftBank does not like to be a passive investor," one of the sources said. Reuters had previously reported Walmart was in advanced talks with Flipkart to acquire a controlling stake in the Bengaluru-based online marketplace at a valuation of at least $18 billion. Flipkart has bought back $350 million worth of shares from its investors as it seeks to convert its Singapore-incorporated company to a private limited firm, in a move that could ease the way in for a new strategic investor, regulatory filings show. Flipkart and Alphabet did not respond to Reuters' requests seeking comment. Walmart and SoftBank declined to comment. AMAZON OFFER Earlier this week, Indian TV channel CNBC-TV18 reported Amazon Inc had made a formal offer to buy 60 percent of Flipkart and that it had also proposed a $2 billion breakup fee to convince Flipkart to discuss its offer. Sources told Reuters that Amazon had shown an interest in buying Flipkart, but said a deal with Walmart was much more likely to go through. Amazon is Flipkart's biggest rival in India. Amazon's move to bid for Flipkart may push up valuations of the Indian firm, but engaging with the tech giant could be fraught with risks for Flipkart, said industry insiders and lawyers. Beyond the risk of opening its books for due diligence and exposing sensitive commercial agreements to its biggest rival in India, an Amazon-Flipkart combination could face significant antitrust hurdles, they said. Amazon is currently seeking legal opinion to understand how the country's antitrust regulator, the Competition Commission of India (CCI), is likely to view any deal with Flipkart, a lawyer and an industry source familiar with the matter told Reuters. A former senior CCI official said e-commerce firms were already giving deep discounts and an Amazon-Flipkart union was likely to be in a position to sway the market their way, but the CCI could be convinced to approve a deal if both firms suggested "innovations or remedies." "This definitely would be a tricky case and not easy to sail through," he added. Amazon declined to comment on whether it had bid for Flipkart or was seeking legal opinion for a potential investment in the firm. Flipkart, together with its fashion units Myntra and Jabong, controls nearly 40 percent of India's online retail market, while Amazon is a close second with a 31 percent share, according to data from research firm Forrester. Both Amazon and Flipkart are pouring billions of dollars into winning shoppers in the fast-growing market that is expected to be worth $200 billion within a decade.

Flipkart yet to finalise stake sale deal with Walmart: Sources

Alphabet Inc President Sergey Brin said on Friday that technology companies must take greater responsibility for the social impact of their work, his first comments following a year of heightened global awareness about misuse of digital services.

Brin delivered the message through Alphabet`s annual shareholder letter, which he signed for the first time since 2014 instead of Chief Executive Larry Page.

"We’re in an era of great inspiration and possibility, but with this opportunity comes the need for tremendous thoughtfulness and responsibility as technology is deeply and irrevocably interwoven into our societies," Brin wrote after quoting from Charles Dickens’ novel "A Tale of Two Cities" about the "the best of times" and "the worst of times."

Alphabet's primary unit, Google, has become a top target in Silicon Valley for regulators, authorities and critics in advertising and media. It has drawn global scrutiny for its dominance in online search advertising, its policies around user privacy and its role in helping politically consequential misinformation spread online.&nbsp

Brin did not touch on those issues, nor did he specify any actions the company would take to recognise new responsibilities.&nbsp

But Brin focused on artificial intelligence, computer systems that are able to learn without humans hard-coding them. Artificial intelligence enables self-driving cars and software that can identify diseases.

Brin said that Alphabet would tread with "serious thought and research" about societal consequences such as eliminating jobs and advancing biases as the company expands use of artificial intelligence.&nbsp

"While I am optimistic about the potential to bring technology to bear on the greatest problems in the world, we are on a path that we must tread with deep responsibility, care and humility," he said.

Alphabet separately announced Friday details regarding its annual shareholder meeting, which it scheduled for June 6. The company recommended shareholders reject each of the seven proposals brought by investors that call for it to provide more information around gender pay disparity, environmental impact policies, content moderation and other issues.

Brin focused on artificial intelligence, computer systems that are able to learn without humans hard-coding them

Alphabet Inc President Sergey Brin said on Friday that technology companies must take greater responsibility for the social impact of their work, his first comments following a year of heightened global awareness about misuse of digital services. Brin delivered the message through Alphabet`s annual shareholder letter, which he signed for the first time since 2014 instead of Chief Executive Larry Page. "We’re in an era of great inspiration and possibility, but with this opportunity comes the need for tremendous thoughtfulness and responsibility as technology is deeply and irrevocably interwoven into our societies," Brin wrote after quoting from Charles Dickens’ novel "A Tale of Two Cities" about the "the best of times" and "the worst of times." Alphabet's primary unit, Google, has become a top target in Silicon Valley for regulators, authorities and critics in advertising and media. It has drawn global scrutiny for its dominance in online search advertising, its policies around user privacy and its role in helping politically consequential misinformation spread online. Brin did not touch on those issues, nor did he specify any actions the company would take to recognise new responsibilities. But Brin focused on artificial intelligence, computer systems that are able to learn without humans hard-coding them. Artificial intelligence enables self-driving cars and software that can identify diseases. Brin said that Alphabet would tread with "serious thought and research" about societal consequences such as eliminating jobs and advancing biases as the company expands use of artificial intelligence. "While I am optimistic about the potential to bring technology to bear on the greatest problems in the world, we are on a path that we must tread with deep responsibility, care and humility," he said. Alphabet separately announced Friday details regarding its annual shareholder meeting, which it scheduled for June 6. The company recommended shareholders reject each of the seven proposals brought by investors that call for it to provide more information around gender pay disparity, environmental impact policies, content moderation and other issues.

Alphabet's Sergey Brin says company must assume greater responsibility

The woman identified by police as the attacker who wounded three people at YouTube's headquarters in California was a vegan blogger who accused the video-sharing service of discriminating against her, according to her online profile.

Police said 39-year-old Nasim Najafi Aghdam from San Diego was behind Tuesday's shooting at YouTube's offices in Silicon Valley, south of San Francisco, where the company owned by Alphabet Inc's Google employs nearly 2,000 people.

A man was in critical condition and two women were seriously wounded in the attack, which ended when Aghdam shot and killed herself.

"The San Bruno Police Department is investigating a motive for this shooting. At this time there is no evidence that the shooter knew the victims of this shooting or that individuals were specifically targeted," police said in a statement.

Aghdam's online profile shows she was a vegan activist who ran a website called NasimeSabz.com, meaning "Green Breeze" in Persian, where she posted about Persian culture and veganism, as well as long passages critical of YouTube.

A screenshot of a video posted on Aghnam's YouTube channel before it was taken down on Tuesday, showed her complaining that "YouTube filtered my channels to keep them from getting views!"

YouTube spokeswoman Jessica Mason could not immediately be reached for comment.

There are hundreds of mass shootings every year in the United States. A national debate around tighter curbs on gun ownership has intensified since the massacre of 17 people at a Florida high school in February shocked the public.

Police said 39-year-old Nasim Najafi Aghdam from San Diego was behind Tuesday's shooting at YouTube's offices in Silicon Valley

The woman identified by police as the attacker who wounded three people at YouTube's headquarters in California was a vegan blogger who accused the video-sharing service of discriminating against her, according to her online profile. Police said 39-year-old Nasim Najafi Aghdam from San Diego was behind Tuesday's shooting at YouTube's offices in Silicon Valley, south of San Francisco, where the company owned by Alphabet Inc's Google employs nearly 2,000 people. A man was in critical condition and two women were seriously wounded in the attack, which ended when Aghdam shot and killed herself. "The San Bruno Police Department is investigating a motive for this shooting. At this time there is no evidence that the shooter knew the victims of this shooting or that individuals were specifically targeted," police said in a statement. Aghdam's online profile shows she was a vegan activist who ran a website called NasimeSabz.com, meaning "Green Breeze" in Persian, where she posted about Persian culture and veganism, as well as long passages critical of YouTube. A screenshot of a video posted on Aghnam's YouTube channel before it was taken down on Tuesday, showed her complaining that "YouTube filtered my channels to keep them from getting views!" YouTube spokeswoman Jessica Mason could not immediately be reached for comment. There are hundreds of mass shootings every year in the United States. A national debate around tighter curbs on gun ownership has intensified since the massacre of 17 people at a Florida high school in February shocked the public.

Watch: YouTube attacker was vegan activist, accused tech firm of discrimination

Apple Inc on Tuesday rolled out a new iPad that works with its Apple Pencil and is aimed at grabbing more of the US education market, but did not cut the price of the tablet despite fierce competition from cheaper laptops.

The device will have a more powerful computing chip and extensive new software features aimed at teachers and students but keep the existing starting price of $299 for students and $329 for the general public.

Apple is looking to reassert its dominance in US schools, where inexpensive devices and laptops that are geared towards classroom use are seen as a way to hook young consumers.

Laptops running operating systems by Alphabet Inc's Google or Microsoft Corp can be had for less than $200.

Some analysts had believed Apple might cut prices, but the company stuck with its more traditional approach of packing more features into a device and maintaining its minimum price point.

Apple hit hard on the education theme at the Chicago event, with school bells and announcements over a public address system directing press and more than 300 teachers into an auditorium at Lane Tech College Prep High School. Apple Chief Executive Tim Cook opened the keynote with a nod to politics, saying "we are deeply inspired by the courage of the students who walked out" and marched on Washington, advocating for stricter gun control laws following a school shooting in Florida.

The line elicited cheers from students seated at the rear of the auditorium.

The Chicago event comes during a spring buying season when many schools are making purchasing decisions for the upcoming school year.

"We`ve been at this for 40 years and we care deeply about education," Cook said.

Apple executives said the company will release a iPad model that works with its pencil accessory and features an upgraded A10 Fusion chip, the same CPU that powers the iPhone 7.

The company also released a new version of its word processing apps for the iPad designed to work with the pencil and allow students to take handwritten notes more easily.

Apple made up just 17 per cent of the K-12 US educational market in the third quarter, according to data from Futuresource Consulting.

Meanwhile 60 per cent of mobile computing shipments to schools ran Google's Chrome operating system, and 22 per cent had Windows.

Chromebooks sold by Dell Technologies Inc cost as little as $189.

Microsoft last year introduced an education-focused laptop from partner Lenovo Group Ltd running Window 10 S.

Apple in recent years made changes to its operating system so that more than one student can log into an iPad, and to its software to let teachers better manage groups of students.

But it faces a tough battle in the educational market given the popularity of Google and Microsoft`s cloud-based productivity suites, said Carolina Milanesi of Creative Strategies.

Google's G Suite fueled Chromebook sales because it was seen as easy to use to manage assignments.

"Most teachers don`t look past G Suite for education," she said. Apple has iWork, which added features in recent years but remains less familiar to teachers than Google`s productivity suite or Microsoft's Office. Sales of iPads made up just 8.3 per cent of Apple's $229.2 billion total revenue last year, compared with the nearly 62 per cent of sales generated by iPhones.

Some analysts had believed Apple might cut prices, but the company stuck with its more traditional approach of packing more features into a device and maintaining its minimum price point.

Apple Inc on Tuesday rolled out a new iPad that works with its Apple Pencil and is aimed at grabbing more of the US education market, but did not cut the price of the tablet despite fierce competition from cheaper laptops. The device will have a more powerful computing chip and extensive new software features aimed at teachers and students but keep the existing starting price of $299 for students and $329 for the general public. Apple is looking to reassert its dominance in US schools, where inexpensive devices and laptops that are geared towards classroom use are seen as a way to hook young consumers. Laptops running operating systems by Alphabet Inc's Google or Microsoft Corp can be had for less than $200. Some analysts had believed Apple might cut prices, but the company stuck with its more traditional approach of packing more features into a device and maintaining its minimum price point. Apple hit hard on the education theme at the Chicago event, with school bells and announcements over a public address system directing press and more than 300 teachers into an auditorium at Lane Tech College Prep High School. Apple Chief Executive Tim Cook opened the keynote with a nod to politics, saying "we are deeply inspired by the courage of the students who walked out" and marched on Washington, advocating for stricter gun control laws following a school shooting in Florida. The line elicited cheers from students seated at the rear of the auditorium. The Chicago event comes during a spring buying season when many schools are making purchasing decisions for the upcoming school year. "We`ve been at this for 40 years and we care deeply about education," Cook said. Apple executives said the company will release a iPad model that works with its pencil accessory and features an upgraded A10 Fusion chip, the same CPU that powers the iPhone 7. The company also released a new version of its word processing apps for the iPad designed to work with the pencil and allow students to take handwritten notes more easily. Apple made up just 17 per cent of the K-12 US educational market in the third quarter, according to data from Futuresource Consulting. Meanwhile 60 per cent of mobile computing shipments to schools ran Google's Chrome operating system, and 22 per cent had Windows. Chromebooks sold by Dell Technologies Inc cost as little as $189. Microsoft last year introduced an education-focused laptop from partner Lenovo Group Ltd running Window 10 S. Apple in recent years made changes to its operating system so that more than one student can log into an iPad, and to its software to let teachers better manage groups of students. But it faces a tough battle in the educational market given the popularity of Google and Microsoft`s cloud-based productivity suites, said Carolina Milanesi of Creative Strategies. Google's G Suite fueled Chromebook sales because it was seen as easy to use to manage assignments. "Most teachers don`t look past G Suite for education," she said. Apple has iWork, which added features in recent years but remains less familiar to teachers than Google`s productivity suite or Microsoft's Office. Sales of iPads made up just 8.3 per cent of Apple's $229.2 billion total revenue last year, compared with the nearly 62 per cent of sales generated by iPhones.

Apple unveils new iPad for students

Google parent Alphabet Inc missed quarterly profit forecasts as steady ad sales growth was offset by increased spending to promote its consumer gadgets, YouTube video app and cloud computing services, the U.S. technology company said on Thursday.

Shares of Alphabet dipped more than 5 percent after-hours, before steadying with a 2.7 percent loss at $1,149.93.

Though growing demand for pricey ads on mobile apps has kept Google&#39;s core ad business surging, the company has moved aggressively to maintain dominance and diversify sales. Expenses jumped 27 percent to $24.7 billion in the fourth quarter from the year-earlier period.

Google bought ads during major sports events to market its new Pixel 2 smartphone and YouTube television service. It slashed prices on other hardware in the race to get online search and media streaming devices into people&#39;s homes. Google continued to quickly add staff to its enterprise sales unit.

A growing portion of revenue has been spent on having the Google search engine set as the default option on products and services such as Apple Inc&#39;s iPhone and Mozilla&#39;s Firefox browser.

Alphabet Chief Financial Officer Ruth Porat told analysts in a post-earnings conference call that higher marketing costs coincided with holidays and that payments to partners such as Apple and Mozilla would steady in coming quarters.

Investments are paying off, Google Chief Executive Sundar Pichai said, noting that cloud computing is generating $1 billion in quarterly sales. He said Google&#39;s G Suite workplace software package had doubled its customers to 4 million in two years, as Reuters first reported earlier on Thursday.

&quot;Overall, it was a good quarter. Advertising revenue is still up significantly,&quot; Ivan Feinseth of Tigress Financial Partners said in an email.

Fourth-quarter sales increased 24 percent to $32.3 billion, above the average analysts&#39; estimate of $31.9 billion, according to Thomson Reuters I/B/E/S. Adjusted quarterly profit of $6.8 billion, or $9.70 per share, missed estimates of $7 billion, or $10 per share.

The profit figure excludes a $9.9 billion tax charge as Alphabet joined much of corporate America in reporting large one-time expenses in the fourth quarter due to U.S. legislation enacted in December that lowers corporate rates.

The tax law has given companies more affordable access to overseas profits, and Porat said Alphabet would make a &quot;modest increase&quot; in share buybacks with an additional allocation of $8.6 billion.

The growing use of smartphones worldwide has been a bonanza for social media company Facebook Inc and Google, which research firm EMarketer estimates together account for nearly 60 percent of mobile ad sales.

Google sells ad space on its search engine, its fast-growing YouTube video streaming service and a network of third-party websites and apps.

The company&#39;s computer algorithms have become more effective at delivering mobile ads likely to make customers sit through commercials, install an app or visit a website.

Led by such ads, Alphabet generated $110.9 billion in full-year revenue, up 23 percent from 2016 and topping $100 billion for the first time. Profit fell 35 percent to $12.6 billion because of the tax bill and a separate charge last summer for a $2.7 billion European Union antitrust fine, which is under appeal.

&quot;The company&#39;s continued strong top-line growth and myriad new opportunities to drive future growth remain the keys to the stock,&quot; MoffettNathanson analyst Michael Nathanson said in an email.

Alphabet is attempting to maintain sales growth through new businesses, experimenting with operating a fleet of self-driving taxis through Waymo and licensing medical technology at Verily.

Non-advertising revenue from Google combined with revenue from Verily and the other Alphabet companies was $15.5 billion in 2017, accounting for about 14 percent of total revenue, compared to $10.9 billion, or 12 percent, in 2016.

Alphabet also said on Thursday that veteran board member John Hennessy took over as chairman the day before from Eric Schmidt, a long-time Google executive who will remain a board member and technical adviser. The potential for further regulation on privacy, monopolistic business practices or content vetting is among investors&#39; top concerns about tech companies such as Alphabet and Amazon.com Inc&nbsp;that are tapping their unrivalled consumer behaviour data to branch beyond their core businesses.

MKM Partners analyst Rob Sanderson said in a note to clients last month that Google had &quot;the most unrecognized value&quot; of big publicly traded tech companies despite some concerns about regulatory issues. 
&nbsp;

A growing portion of revenue has been spent on having the Google search engine set as the default option on products and services such as Apple Inc's iPhone and Mozilla's Firefox browser.

Google parent Alphabet Inc missed quarterly profit forecasts as steady ad sales growth was offset by increased spending to promote its consumer gadgets, YouTube video app and cloud computing services, the U.S. technology company said on Thursday. Shares of Alphabet dipped more than 5 percent after-hours, before steadying with a 2.7 percent loss at $1,149.93. Though growing demand for pricey ads on mobile apps has kept Google's core ad business surging, the company has moved aggressively to maintain dominance and diversify sales. Expenses jumped 27 percent to $24.7 billion in the fourth quarter from the year-earlier period. Google bought ads during major sports events to market its new Pixel 2 smartphone and YouTube television service. It slashed prices on other hardware in the race to get online search and media streaming devices into people's homes. Google continued to quickly add staff to its enterprise sales unit. A growing portion of revenue has been spent on having the Google search engine set as the default option on products and services such as Apple Inc's iPhone and Mozilla's Firefox browser. Alphabet Chief Financial Officer Ruth Porat told analysts in a post-earnings conference call that higher marketing costs coincided with holidays and that payments to partners such as Apple and Mozilla would steady in coming quarters. Investments are paying off, Google Chief Executive Sundar Pichai said, noting that cloud computing is generating $1 billion in quarterly sales. He said Google's G Suite workplace software package had doubled its customers to 4 million in two years, as Reuters first reported earlier on Thursday. "Overall, it was a good quarter. Advertising revenue is still up significantly," Ivan Feinseth of Tigress Financial Partners said in an email. Fourth-quarter sales increased 24 percent to $32.3 billion, above the average analysts' estimate of $31.9 billion, according to Thomson Reuters I/B/E/S. Adjusted quarterly profit of $6.8 billion, or $9.70 per share, missed estimates of $7 billion, or $10 per share. The profit figure excludes a $9.9 billion tax charge as Alphabet joined much of corporate America in reporting large one-time expenses in the fourth quarter due to U.S. legislation enacted in December that lowers corporate rates. The tax law has given companies more affordable access to overseas profits, and Porat said Alphabet would make a "modest increase" in share buybacks with an additional allocation of $8.6 billion. The growing use of smartphones worldwide has been a bonanza for social media company Facebook Inc and Google, which research firm EMarketer estimates together account for nearly 60 percent of mobile ad sales. Google sells ad space on its search engine, its fast-growing YouTube video streaming service and a network of third-party websites and apps. The company's computer algorithms have become more effective at delivering mobile ads likely to make customers sit through commercials, install an app or visit a website. Led by such ads, Alphabet generated $110.9 billion in full-year revenue, up 23 percent from 2016 and topping $100 billion for the first time. Profit fell 35 percent to $12.6 billion because of the tax bill and a separate charge last summer for a $2.7 billion European Union antitrust fine, which is under appeal. "The company's continued strong top-line growth and myriad new opportunities to drive future growth remain the keys to the stock," MoffettNathanson analyst Michael Nathanson said in an email. Alphabet is attempting to maintain sales growth through new businesses, experimenting with operating a fleet of self-driving taxis through Waymo and licensing medical technology at Verily. Non-advertising revenue from Google combined with revenue from Verily and the other Alphabet companies was $15.5 billion in 2017, accounting for about 14 percent of total revenue, compared to $10.9 billion, or 12 percent, in 2016. Alphabet also said on Thursday that veteran board member John Hennessy took over as chairman the day before from Eric Schmidt, a long-time Google executive who will remain a board member and technical adviser. The potential for further regulation on privacy, monopolistic business practices or content vetting is among investors' top concerns about tech companies such as Alphabet and Amazon.com Inc that are tapping their unrivalled consumer behaviour data to branch beyond their core businesses. MKM Partners analyst Rob Sanderson said in a note to clients last month that Google had "the most unrecognized value" of big publicly traded tech companies despite some concerns about regulatory issues.

Alphabet's earnings miss profit estimates as spending grows

A day after Waymo, owned by Google&#39;s Alphabet, announced the&nbsp;launch of a fully self-driving fleet of taxis, a self-driving shuttle bus in Las Vegas crashed on the first day of its service.&nbsp;

The shuttle bus, carrying several passengers, collided with a lorry driving at a slow speed.&nbsp;

However, no injuries were reported in the accident.&nbsp;

Citing a public information officer Jace Radke, BBC said, &quot; the delivery truck was coming out of the alley.&quot;

&quot;The shuttle did what it was supposed to do and stopped. Unfortunately, the human element, the driver of the truck, didn&rsquo;t stop.&rdquo;

The city officials have held the lorry driver responsible for the collision.&nbsp;

The Las Vegas shuttle is designed with a system developed by a French Company, Navya.

The company is also testing its technology in London.&nbsp;

The shuttle has been designed to carry up to 15 passengers. It has a maximum speed of 45km/h but typically travels at around 25km/h.

The shuttle bus, carrying several passengers, collided with a lorry driving at a slow speed

A day after Waymo, owned by Google's Alphabet, announced the launch of a fully self-driving fleet of taxis, a self-driving shuttle bus in Las Vegas crashed on the first day of its service. The shuttle bus, carrying several passengers, collided with a lorry driving at a slow speed. However, no injuries were reported in the accident. Citing a public information officer Jace Radke, BBC said, " the delivery truck was coming out of the alley." "The shuttle did what it was supposed to do and stopped. Unfortunately, the human element, the driver of the truck, didn’t stop.” The city officials have held the lorry driver responsible for the collision. The Las Vegas shuttle is designed with a system developed by a French Company, Navya. The company is also testing its technology in London. The shuttle has been designed to carry up to 15 passengers. It has a maximum speed of 45km/h but typically travels at around 25km/h.

Las Vegas: Self-driving shuttle bus crashes on first day of service

Smartphone maker HTC said Thursday it was selling part of its business to Google for $1.1 billion.&nbsp;

AFP reported HTC as saying that the deal includes intellectual property licensing and half of HTC&#39;s research staff, or around 2,000 people, and is expected to be completed in early 2018 pending regulatory approval. &nbsp;

The announcement marks Google&#39;s latest push into hardware manufacturing.&nbsp;

&quot;For Google, the deal will further strengthen its investment in and committment to smartphones and its hardware business... it shows that Google sees Taiwan as a key hub for innovative technology,&quot; AFP reported HTC spokesman Peter Shen as telling a press conference in Taipei.

The announcement marks Google's latest push into hardware manufacturing

Smartphone maker HTC said Thursday it was selling part of its business to Google for $1.1 billion. AFP reported HTC as saying that the deal includes intellectual property licensing and half of HTC's research staff, or around 2,000 people, and is expected to be completed in early 2018 pending regulatory approval. The announcement marks Google's latest push into hardware manufacturing. "For Google, the deal will further strengthen its investment in and committment to smartphones and its hardware business... it shows that Google sees Taiwan as a key hub for innovative technology," AFP reported HTC spokesman Peter Shen as telling a press conference in Taipei.

Google to buy part of smartphone maker HTC for $1.1 billion

&nbsp;Alphabet said it appointed the chief executive of its Google unit, Sundar Pichai, to its board.

The company&#39;s board also includes founders Larry Page and Sergey Brin.

Alphabet is set to report second quarter earnings on Monday after markets close.

&nbsp;

The company's board also includes founders Larry Page and Sergey Brin

Alphabet said it appointed the chief executive of its Google unit, Sundar Pichai, to its board. The company's board also includes founders Larry Page and Sergey Brin. Alphabet is set to report second quarter earnings on Monday after markets close.

Alphabet appoints Google CEO Pichai to board

Waymo, the self-driving car unit of Alphabet signed a multi-year agreement with Avis Budget Group for the car rental firm to manage its growing fleet of autonomous vehicles, sparking a surge in Avis Budget&#39;s stock.

Investors bid Avis shares up by as much as 21 percent on Monday, the biggest intraday percentage gain for the stock in more than five years. The shares closed at $27.67, up about 14 percent.

Shares in traditional rental car companies such as Avis and Hertz Global Holdings have taken a beating as more travellers use ride services such as Lyft and Uber Technologies. The Waymo-Avis deal points to a potential future for rental car companies as managers for fleets of shared and autonomous vehicles require their services changing tires, cleaning interiors, and securing vehicles when they are not in operation.

Apple was using vehicles supplied by rival rental car company Hertz Global Holdings to test its self-driving car technology which prompted a surge in that company&#39;s shares.

General Motors Chief Financial Officer Chuck Stevens told analysts during a conference call that the automaker has &quot;done a lot of thinking&quot; about how to manage its growing fleet of self-driving vehicles. But he said, &quot;it&#39;s early days on how that business model may play out.&quot; GM has a large network of franchised dealers that could provide fleet management services, as well as an alliance with Lyft and its own Maven car-sharing unit.

Waymo and Avis said they will launch their partnership in Phoenix, Arizona, where Waymo is allowing selected members of the public take rides in self-driving cars, including modified Chrysler Pacifica minivans built by Fiat Chrysler Automobiles NV. Waymo has said it plans to expand its fleet of Chrysler minivans to about 600 vehicles.

Waymo and Avis did not say whether their partnership will expand to other cities, but John Krafcik, the head of Waymo, said in a statement that &quot;with thousands of locations around the world, Avis Budget Group can help us bring our technology to more people, in more places.&rdquo;

Waymo and Avis said they will launch their partnership in Phoenix, Arizona

Waymo, the self-driving car unit of Alphabet signed a multi-year agreement with Avis Budget Group for the car rental firm to manage its growing fleet of autonomous vehicles, sparking a surge in Avis Budget's stock. Investors bid Avis shares up by as much as 21 percent on Monday, the biggest intraday percentage gain for the stock in more than five years. The shares closed at $27.67, up about 14 percent. Shares in traditional rental car companies such as Avis and Hertz Global Holdings have taken a beating as more travellers use ride services such as Lyft and Uber Technologies. The Waymo-Avis deal points to a potential future for rental car companies as managers for fleets of shared and autonomous vehicles require their services changing tires, cleaning interiors, and securing vehicles when they are not in operation. Apple was using vehicles supplied by rival rental car company Hertz Global Holdings to test its self-driving car technology which prompted a surge in that company's shares. General Motors Chief Financial Officer Chuck Stevens told analysts during a conference call that the automaker has "done a lot of thinking" about how to manage its growing fleet of self-driving vehicles. But he said, "it's early days on how that business model may play out." GM has a large network of franchised dealers that could provide fleet management services, as well as an alliance with Lyft and its own Maven car-sharing unit. Waymo and Avis said they will launch their partnership in Phoenix, Arizona, where Waymo is allowing selected members of the public take rides in self-driving cars, including modified Chrysler Pacifica minivans built by Fiat Chrysler Automobiles NV. Waymo has said it plans to expand its fleet of Chrysler minivans to about 600 vehicles. Waymo and Avis did not say whether their partnership will expand to other cities, but John Krafcik, the head of Waymo, said in a statement that "with thousands of locations around the world, Avis Budget Group can help us bring our technology to more people, in more places.”

Alphabet partners with Avis to manage self-driving car fleet

Google&rsquo;s self-professed mission is to organise the world&rsquo;s information. But a company known for engineering excellence is still trying to solve the very human problem of how to organise itself.

Nearly two years ago, Google co-founder Larry Page announced the tech giant would be remade as Alphabet, a holding company whose units would include Google and an array of unrelated pursuits in areas such as healthcare, self-driving cars, and urban planning.

Wall Street cheered. Previously those riskier ventures had been lumped into Google&#39;s overall financial results. Investors would now see Google&rsquo;s performance independent of its so-called &#39;Other Bets,&#39; an eclectic collection of 11 ventures.

They include Nest which is a maker of Wi-Fi enabled thermostats, Calico which seeks to prolong the human lifespan and X, the company&#39;s secretive research lab.

Alphabet&#39;s top management also aimed to boost accountability by appointing chief executives to head each of the Other Bets. Few people in Google&#39;s constellation of ventures had ever held the title prior to that.

But so far Alphabet has failed to show it can convert its Other Bets from experiments to businesses with the reach, impact and money-making potential of Google&rsquo;s core search and advertising operations. Interviews with two dozen former Alphabet executives and employees reveal an organization grappling with how much time and resources Other Bets deserve in the pursuit of profitability.

In the first quarter, which ended on March 31, the ventures lost a combined $855 million; that&#39;s on top of a collective $3.6 billion loss for 2016. As a whole, Alphabet generated $90.3 billion in revenue in 2016. Google&#39;s share of that revenue was $89.5 billion, while its 2016 operating income was $27.9 billion.

Alphabet&#39;s early days have seen more pruning than expansion of its holdings.

The company has skinned back plans for Google Fiber, which delivers rapid Internet service in 10 metro areas. This month, Alphabet agreed to sell robotics company Boston Dynamics to Japanese multinational SoftBank Group. It unloaded its Terra Bella satellite imaging business in February.

At one point last year, it was even looking to sell Nest, the largest of the Other Bets. Google paid an eye-popping $3.2 billion for the start-up in 2014.

Meanwhile, a series of executives have departed since the reorganization, including the heads of Nest, an Internet operation called Access and a venture capital firm known as GV.

An Alphabet spokeswoman declined repeated requests for comment or to make executives available for interviews. Supporters of the restructuring frame the early struggles as typical growing pains.

For now, Wall Street isn&#39;t worried. Alphabet&#39;s stock is near an all-time high, having reached $1,000 per share in June. Ruth Porat, the no-nonsense chief financial officer who has steered the restructuring, has won rave reviews from investors for enforcing financial accountability across Alphabet.

Some Other Bets have made notable strides. Life sciences initiative verily recently attracted $800 million in outside investment. Self-driving car project Waymo is considered among the leaders in the burgeoning industry.

Analysts say the structure will enable Alphabet to do what most companies can not,conceive the next wave of innovation in-house or through the development of key acquisitions. That goal is central to both the company&#39;s mission and investor expectations.

&ldquo;The reason Google gets to trade at a decent multiple&hellip; is because there&#39;s a growth story beyond advertising,&rdquo; said analyst James Wang of ARK Investment Management.

CEO or COO?

The Alphabet structure is Google&rsquo;s stab at an age-old corporate conundrum: sustaining innovation within a giant enterprise.

Alphabet&#39;s strategy is to give entrepreneurs the autonomy of a startup, coupled with the discipline of a traditional corporate structure.

Roughly once a quarter, Other Bets leaders meet with the Alphabet board which is comprised of Porat, Page, Google co-founder Sergey Brin and David Drummond, Alphabet&#39;s senior vice president of corporate development, to discuss funding and performance.

At the same time, Alphabet is establishing separate compensation plans for the Other Bets to reward employees if their ventures succeed, mirroring startup incentives.

The formula has primed Alphabet&#39;s emerging businesses for &quot;global impact,&quot; Alphabet Executive Chairman Eric Schmidt said this month at the annual stockholders meeting at the Mountain View headquarters.

&quot;There is one solution that we know works well in capitalism, which is boards, shareholders, CEOs,&quot; Schmidt said. &quot;My bet is that the traditional lessons of business organisation will, in fact, result in success at Alphabet.&quot;

Still, Alphabet top brass continues to hold sway over key strategy and financing decisions, a dynamic that has chafed Other Bets chief executives who have complained they are treated more like chief operating officers than shot callers. 
In addition, scrutiny from Wall Street limits how generous Alphabet can be in extending Google&#39;s resources to Other Bets, said Brian McClendon, a former vice president of engineering at Google. &#39;As of yet, the restructuring hasn&rsquo;t provided what I think is one of the immediate benefits, which is a risk-taking investment&#39; he said.

NICKELED AND DIMED

Some companies acquired by Google found that being part of Alphabet was not what they had bargained for. 
Two former Nest employees said they were promised generous funding and time to achieve profitability following the company&#39;s acquisition by Google in 2014. But after the restructuring, Alphabet executives were keenly focused on revenue, one former employee said.

Pricey overhead has made the path to profitability tougher. After the restructuring, Alphabet began charging Other Bets for their portion of shared services such as security and facilities, ending what had previously amounted to a subsidy. The units also felt pressure to maintain Google perks such as free employee meals.

&ldquo;One of the pitfalls (of Alphabet) is that those companies are asked to stand on their own two feet, but they may inherit the cost structure of Google,&quot; said Nest investor Peter Nieh, a partner at Lightspeed Venture Partners.

In early 2016, Alphabet explored selling Nest in an effort code-named Project Amalfi. No deal materialized, and Nest co-founder Tony Fadell departed last year. Fadell declined to comment.

Boston Dynamics, acquired in 2013 during a robotics shopping spree led by Android creator Andy Rubin, enjoyed generous funding at first. But it was adrift after Rubin&#39;s departure. Rubin did not respond to requests for comment.

GRUMPY GOOGLERS

The creation of the Other Bets has also changed what it means to work for Google.

Some grumble that their role now is to subsidize innovation at their sister companies, rather than to innovate themselves.

According to one former Googler, it sent a sort of message to people who stayed back at Google, whether in search or in ads. The ad said &#39;Your job isn&rsquo;t to push the envelope&#39;.

Employee transfers to X, the illustrious &ldquo;moonshot factory,&rdquo; are more complicated now that it&#39;s a separate entity, former employees say.

That&rsquo;s a striking shift, especially for high-performing employees accustomed to moving about the company almost at will, said Punit Soni, a former Google employee who is now chief executive of Learning Motors, an artificial intelligence startup.

&ldquo;A basic premise of Google was people could do whatever they wanted,&rdquo; Soni said. &ldquo;I can see why people will feel like it&rsquo;s no longer the old Google.&quot;

In the meantime, co-founder Page is pursuing yet another &#39;moonshot&#39; called flying cars. He is the primary investor in Kitty Hawk, a startup in the field that is entirely outside the Alphabet umbrella.

&nbsp;

&nbsp;

&nbsp;

A company known for engineering excellence is still trying to solve the very human problem of how to organise itself

Google’s self-professed mission is to organise the world’s information. But a company known for engineering excellence is still trying to solve the very human problem of how to organise itself. Nearly two years ago, Google co-founder Larry Page announced the tech giant would be remade as Alphabet, a holding company whose units would include Google and an array of unrelated pursuits in areas such as healthcare, self-driving cars, and urban planning. Wall Street cheered. Previously those riskier ventures had been lumped into Google's overall financial results. Investors would now see Google’s performance independent of its so-called 'Other Bets,' an eclectic collection of 11 ventures. They include Nest which is a maker of Wi-Fi enabled thermostats, Calico which seeks to prolong the human lifespan and X, the company's secretive research lab. Alphabet's top management also aimed to boost accountability by appointing chief executives to head each of the Other Bets. Few people in Google's constellation of ventures had ever held the title prior to that. But so far Alphabet has failed to show it can convert its Other Bets from experiments to businesses with the reach, impact and money-making potential of Google’s core search and advertising operations. Interviews with two dozen former Alphabet executives and employees reveal an organization grappling with how much time and resources Other Bets deserve in the pursuit of profitability. In the first quarter, which ended on March 31, the ventures lost a combined $855 million; that's on top of a collective $3.6 billion loss for 2016. As a whole, Alphabet generated $90.3 billion in revenue in 2016. Google's share of that revenue was $89.5 billion, while its 2016 operating income was $27.9 billion. Alphabet's early days have seen more pruning than expansion of its holdings. The company has skinned back plans for Google Fiber, which delivers rapid Internet service in 10 metro areas. This month, Alphabet agreed to sell robotics company Boston Dynamics to Japanese multinational SoftBank Group. It unloaded its Terra Bella satellite imaging business in February. At one point last year, it was even looking to sell Nest, the largest of the Other Bets. Google paid an eye-popping $3.2 billion for the start-up in 2014. Meanwhile, a series of executives have departed since the reorganization, including the heads of Nest, an Internet operation called Access and a venture capital firm known as GV. An Alphabet spokeswoman declined repeated requests for comment or to make executives available for interviews. Supporters of the restructuring frame the early struggles as typical growing pains. For now, Wall Street isn't worried. Alphabet's stock is near an all-time high, having reached $1,000 per share in June. Ruth Porat, the no-nonsense chief financial officer who has steered the restructuring, has won rave reviews from investors for enforcing financial accountability across Alphabet. Some Other Bets have made notable strides. Life sciences initiative verily recently attracted $800 million in outside investment. Self-driving car project Waymo is considered among the leaders in the burgeoning industry. Analysts say the structure will enable Alphabet to do what most companies can not,conceive the next wave of innovation in-house or through the development of key acquisitions. That goal is central to both the company's mission and investor expectations. “The reason Google gets to trade at a decent multiple… is because there's a growth story beyond advertising,” said analyst James Wang of ARK Investment Management. CEO or COO? The Alphabet structure is Google’s stab at an age-old corporate conundrum: sustaining innovation within a giant enterprise. Alphabet's strategy is to give entrepreneurs the autonomy of a startup, coupled with the discipline of a traditional corporate structure. Roughly once a quarter, Other Bets leaders meet with the Alphabet board which is comprised of Porat, Page, Google co-founder Sergey Brin and David Drummond, Alphabet's senior vice president of corporate development, to discuss funding and performance. At the same time, Alphabet is establishing separate compensation plans for the Other Bets to reward employees if their ventures succeed, mirroring startup incentives. The formula has primed Alphabet's emerging businesses for "global impact," Alphabet Executive Chairman Eric Schmidt said this month at the annual stockholders meeting at the Mountain View headquarters. "There is one solution that we know works well in capitalism, which is boards, shareholders, CEOs," Schmidt said. "My bet is that the traditional lessons of business organisation will, in fact, result in success at Alphabet." Still, Alphabet top brass continues to hold sway over key strategy and financing decisions, a dynamic that has chafed Other Bets chief executives who have complained they are treated more like chief operating officers than shot callers. In addition, scrutiny from Wall Street limits how generous Alphabet can be in extending Google's resources to Other Bets, said Brian McClendon, a former vice president of engineering at Google. 'As of yet, the restructuring hasn’t provided what I think is one of the immediate benefits, which is a risk-taking investment' he said. NICKELED AND DIMED Some companies acquired by Google found that being part of Alphabet was not what they had bargained for. Two former Nest employees said they were promised generous funding and time to achieve profitability following the company's acquisition by Google in 2014. But after the restructuring, Alphabet executives were keenly focused on revenue, one former employee said. Pricey overhead has made the path to profitability tougher. After the restructuring, Alphabet began charging Other Bets for their portion of shared services such as security and facilities, ending what had previously amounted to a subsidy. The units also felt pressure to maintain Google perks such as free employee meals. “One of the pitfalls (of Alphabet) is that those companies are asked to stand on their own two feet, but they may inherit the cost structure of Google," said Nest investor Peter Nieh, a partner at Lightspeed Venture Partners. In early 2016, Alphabet explored selling Nest in an effort code-named Project Amalfi. No deal materialized, and Nest co-founder Tony Fadell departed last year. Fadell declined to comment. Boston Dynamics, acquired in 2013 during a robotics shopping spree led by Android creator Andy Rubin, enjoyed generous funding at first. But it was adrift after Rubin's departure. Rubin did not respond to requests for comment. GRUMPY GOOGLERS The creation of the Other Bets has also changed what it means to work for Google. Some grumble that their role now is to subsidize innovation at their sister companies, rather than to innovate themselves. According to one former Googler, it sent a sort of message to people who stayed back at Google, whether in search or in ads. The ad said 'Your job isn’t to push the envelope'. Employee transfers to X, the illustrious “moonshot factory,” are more complicated now that it's a separate entity, former employees say. That’s a striking shift, especially for high-performing employees accustomed to moving about the company almost at will, said Punit Soni, a former Google employee who is now chief executive of Learning Motors, an artificial intelligence startup. “A basic premise of Google was people could do whatever they wanted,” Soni said. “I can see why people will feel like it’s no longer the old Google." In the meantime, co-founder Page is pursuing yet another 'moonshot' called flying cars. He is the primary investor in Kitty Hawk, a startup in the field that is entirely outside the Alphabet umbrella.

Insight - With Alphabet, Google faces a daunting challenge of organising itself

Alphabet&#39;s Google will stop scanning Gmail content for creating personalised ads from later this year, bringing the widely-used email service in line with its enterprise offering, G Suite.

The decision was outlined in a blog post by Google cloud computing chief Diane Greene, who joined the company in 2015 and has been responsible for the rapid growth of Google&#39;s cloud business.

Google&#39;s practice of analysing incoming and outgoing emails of its free consumer Gmail users has been criticised on privacy concerns.

Google&#39;s G Suite business bundle have been gaining more enterprise users in the past year, with more than 3 million companies paying for the G Suite service, the company said.

Gmail has more than 1.2 billion users worldwide.

The decision has been outlined in a blog post by Google cloud computing chief Diane Greene

Alphabet's Google will stop scanning Gmail content for creating personalised ads from later this year, bringing the widely-used email service in line with its enterprise offering, G Suite. The decision was outlined in a blog post by Google cloud computing chief Diane Greene, who joined the company in 2015 and has been responsible for the rapid growth of Google's cloud business. Google's practice of analysing incoming and outgoing emails of its free consumer Gmail users has been criticised on privacy concerns. Google's G Suite business bundle have been gaining more enterprise users in the past year, with more than 3 million companies paying for the G Suite service, the company said. Gmail has more than 1.2 billion users worldwide.

Now, Google will not scan your Gmail messages for creating targeted ads

Alphabet&#39;s&nbsp;Waymo self-driving car unit sued Uber Technologies and its autonomous trucking subsidiary Otto in federal court on Thursday over allegations of theft of its confidential and proprietary sensor technology.

Waymo accused Uber and Otto, acquired by the ride services company in August, with stealing confidential information on Waymo&#39;s Lidar sensor technology to help speed its own efforts in autonomous technology.&nbsp;

Uber and Otto did not immediately respond to requests for comment.&nbsp;

&quot;While Waymo developed its custom LiDAR systems with sustained effort over many years, defendants leveraged stolen information to shortcut the process and purportedly build a comparable LiDAR system in only nine months,&quot; the complaint in the Northern District of California said.

Waymo is seeking an unspecified amount of damages and a court order preventing Uber from using its proprietary information.&nbsp;

Otto launched with much fanfare in May, due in part to the high profile of one of its co-founders, Anthony Levandowski, who had been an executive on Google&#39;s self-driving project. Uber acquired the company in August for what Waymo said in the lawsuit was $680 million.&nbsp;

Waymo said that before Levandowski&#39;s resignation in January 2016 from Google, whose self-driving unit was renamed Waymo in December, he downloaded over 14,000 confidential files, including Lidar circuit board designs.

Lidar is a main component of autonomous driving systems that bounces light pulses off objects to help vehicles know where they are on the road.

Waymo accused Levandowski of attempting to &quot;erase any forensic fingerprints&quot; via a reformat of his laptop.

(Reuters)

Waymo accused Uber and Otto with stealing confidential information on it's Lidar sensor technology?

Alphabet's Waymo self-driving car unit sued Uber Technologies and its autonomous trucking subsidiary Otto in federal court on Thursday over allegations of theft of its confidential and proprietary sensor technology. Waymo accused Uber and Otto, acquired by the ride services company in August, with stealing confidential information on Waymo's Lidar sensor technology to help speed its own efforts in autonomous technology. Uber and Otto did not immediately respond to requests for comment. "While Waymo developed its custom LiDAR systems with sustained effort over many years, defendants leveraged stolen information to shortcut the process and purportedly build a comparable LiDAR system in only nine months," the complaint in the Northern District of California said. Waymo is seeking an unspecified amount of damages and a court order preventing Uber from using its proprietary information. Otto launched with much fanfare in May, due in part to the high profile of one of its co-founders, Anthony Levandowski, who had been an executive on Google's self-driving project. Uber acquired the company in August for what Waymo said in the lawsuit was $680 million. Waymo said that before Levandowski's resignation in January 2016 from Google, whose self-driving unit was renamed Waymo in December, he downloaded over 14,000 confidential files, including Lidar circuit board designs. Lidar is a main component of autonomous driving systems that bounces light pulses off objects to help vehicles know where they are on the road. Waymo accused Levandowski of attempting to "erase any forensic fingerprints" via a reformat of his laptop. (Reuters)

Alphabet's self-driving car unit sues Uber over allegations of stolen technology

A team at Google parent Alphabet will try out using drones this month to deliver burritos on a college campus in Virginia.&nbsp; 
 
Astro Teller, playfully referred to as the &#39;Captain of Moonshots&#39; at an X lab created at Google to pursue big-vision projects such as drones and self-driving cars, said in a blog post that Project Wing team was ready to launch the test of a prototype drone delivery system. 
 
US officials announced last week that Alphabet is joining tests for drone deliveries, as the White House unveiled accelerated rulemaking for commercial unmanned aircraft operations. 
 
Teller said that a Wing prototype is ready for testing and that the team will run hundreds of flights in Virginia over the course of several days to deliver lunches prepared in an on-site food truck by Mexican food chain Chipotle. 
 
&quot;We want to learn how people feel when they&rsquo;re receiving a package by air, and taking someone&rsquo;s time and/or money changes things more than a little,&quot; Teller said. 
 
&quot;And we want to feel the pressure of unexpected circumstances that show us how we can get better at loading and managing a fleet of planes.&quot; 
 
The Project Wing team opted to try out delivering food to create operating challenges including &quot;a lunchtime rush of burrito orders&quot; as well as having to get food to customers hot and in the right shape, according to Teller. 
 
&quot;In future tests, we could add a broader range of items, like drinks, which will push us to handle more weight, keep packages carefully balanced, and manage combinations of items on a single flight,&quot; he added. 
 
He believes drones will be available within the next decade for important missions such as delivering medicine and other supplies to areas cut off by disasters and helping emergency responders battle wildfires. 
 
At a &quot;White House Drone Day&quot; event last week, officials announced steps toward expanding rules for drone operations, including for newsgathering and commercial flights over populated areas, after a first set of regulations unveiled in June. 
 
&quot;We hope to propose a rule on unmanned aircraft operations over people by the end of this year,&quot; Federal Aviation Administration chief Michael Huerta said. 
 
The government has registered more than 500,000 hobby drones in eight months, but sees a need for more rules for commercial operators, he added. 
 
The first set of rules stop short of allowing some long-sought applications, including delivery of goods by retailers like Amazon in populated areas. 
 
As the world&#39;s largest online retailer, Amazon raised eyebrows in late 2013 with its plan to airlift small parcels to customers by drone in select markets less than 30 minutes after orders are received. 
 
It has gone to other countries to test its evolving technology, and last month announced plans for test deliveries in Britain. 
 
(AFP)

Google parent Alphabet is joining test for drone deliveries prepared in an on-site food truck by the American fast-food chain Chipotle

A team at Google parent Alphabet will try out using drones this month to deliver burritos on a college campus in Virginia. Astro Teller, playfully referred to as the 'Captain of Moonshots' at an X lab created at Google to pursue big-vision projects such as drones and self-driving cars, said in a blog post that Project Wing team was ready to launch the test of a prototype drone delivery system. US officials announced last week that Alphabet is joining tests for drone deliveries, as the White House unveiled accelerated rulemaking for commercial unmanned aircraft operations. Teller said that a Wing prototype is ready for testing and that the team will run hundreds of flights in Virginia over the course of several days to deliver lunches prepared in an on-site food truck by Mexican food chain Chipotle. "We want to learn how people feel when they’re receiving a package by air, and taking someone’s time and/or money changes things more than a little," Teller said. "And we want to feel the pressure of unexpected circumstances that show us how we can get better at loading and managing a fleet of planes." The Project Wing team opted to try out delivering food to create operating challenges including "a lunchtime rush of burrito orders" as well as having to get food to customers hot and in the right shape, according to Teller. "In future tests, we could add a broader range of items, like drinks, which will push us to handle more weight, keep packages carefully balanced, and manage combinations of items on a single flight," he added. He believes drones will be available within the next decade for important missions such as delivering medicine and other supplies to areas cut off by disasters and helping emergency responders battle wildfires. At a "White House Drone Day" event last week, officials announced steps toward expanding rules for drone operations, including for newsgathering and commercial flights over populated areas, after a first set of regulations unveiled in June. "We hope to propose a rule on unmanned aircraft operations over people by the end of this year," Federal Aviation Administration chief Michael Huerta said. The government has registered more than 500,000 hobby drones in eight months, but sees a need for more rules for commercial operators, he added. The first set of rules stop short of allowing some long-sought applications, including delivery of goods by retailers like Amazon in populated areas. As the world's largest online retailer, Amazon raised eyebrows in late 2013 with its plan to airlift small parcels to customers by drone in select markets less than 30 minutes after orders are received. It has gone to other countries to test its evolving technology, and last month announced plans for test deliveries in Britain. (AFP)

Google parent Alphabet to deliver burritos using drones

British pharmaceutical giant&nbsp;GlaxoSmithKline and Google parent Alphabet&#39;s life sciences unit are creating a new company focused on fighting diseases by targeting electrical signals in the body, jump-starting a new field of medicine known as bioelectronics. 
 
Verily Life Sciences - known as Google&#39;s life sciences unit until last year - and Britain&#39;s biggest drugmaker will together contribute 540 million Pounds ($715.12 million) over seven years to Galvani Bioelectronics, they said on Monday. 
 
The new company will be based at GSK&#39;s Stevenage research centre north of London, with a second research hub in South San Francisco. 
 
GSK first unveiled its ambitions in bioelectronics in a paper in the journal Nature three years ago and believes it is ahead of Big Pharma rivals in developing medicines that use electrical impulses rather than traditional chemicals or proteins. 
 
For Verily, the tie-up is the latest sign that Google&#39;s desire to move beyond search engines into biology and other scientific areas is gaining traction. 
 
Verily already has several other medical projects in the works, including the development of a smart contact lens in partnership with the Swiss drugmaker Novartis that has an embedded glucose sensor to help monitor diabetes. 
 
&#39;Diabetes, arthritis and asthma could be cured by these tiny devices&#39; 
&nbsp; 
Galvani, owned 55 per cent by GSK and 45 per cent by Verily, will develop miniaturised, implantable devices that can modify electrical nerve signals. The aim is to modulate irregular or altered impulses that occur in many illnesses. 
 
GSK believes certain chronic conditions such as diabetes, arthritis and asthma could potentially be treated using these tiny devices. 
 
The idea of treating serious disease with electrical impulses is not completely new. 
 
Large-scale electrical devices have been used for years as heart pacemakers and, more recently, deep brain stimulation has been applied to treat Parkinson&#39;s disease, severe depression and certain neurological movement disorders. 
 
In future, however, the aim is to apply electrical interventions at the micro level, using tiny implants to coax insulin from cells to treat diabetes, for example, or correct muscle imbalances in lung diseases. 
 
Galvani will initially employ around 30 scientists, engineers and clinicians. 
 
(Reuters)

Company will develop miniaturised, implantable devices that can modify irregular electrical nerve signals which occur in many illnesses

British pharmaceutical giant GlaxoSmithKline and Google parent Alphabet's life sciences unit are creating a new company focused on fighting diseases by targeting electrical signals in the body, jump-starting a new field of medicine known as bioelectronics. Verily Life Sciences - known as Google's life sciences unit until last year - and Britain's biggest drugmaker will together contribute 540 million Pounds ($715.12 million) over seven years to Galvani Bioelectronics, they said on Monday. The new company will be based at GSK's Stevenage research centre north of London, with a second research hub in South San Francisco. GSK first unveiled its ambitions in bioelectronics in a paper in the journal Nature three years ago and believes it is ahead of Big Pharma rivals in developing medicines that use electrical impulses rather than traditional chemicals or proteins. For Verily, the tie-up is the latest sign that Google's desire to move beyond search engines into biology and other scientific areas is gaining traction. Verily already has several other medical projects in the works, including the development of a smart contact lens in partnership with the Swiss drugmaker Novartis that has an embedded glucose sensor to help monitor diabetes. 'Diabetes, arthritis and asthma could be cured by these tiny devices' Galvani, owned 55 per cent by GSK and 45 per cent by Verily, will develop miniaturised, implantable devices that can modify electrical nerve signals. The aim is to modulate irregular or altered impulses that occur in many illnesses. GSK believes certain chronic conditions such as diabetes, arthritis and asthma could potentially be treated using these tiny devices. The idea of treating serious disease with electrical impulses is not completely new. Large-scale electrical devices have been used for years as heart pacemakers and, more recently, deep brain stimulation has been applied to treat Parkinson's disease, severe depression and certain neurological movement disorders. In future, however, the aim is to apply electrical interventions at the micro level, using tiny implants to coax insulin from cells to treat diabetes, for example, or correct muscle imbalances in lung diseases. Galvani will initially employ around 30 scientists, engineers and clinicians. (Reuters)

GSK, Alphabet to start new firm that will fight disease by targeting electrical signals in the body

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