Top Technology News

Facebook's currency Libra faces financial, privacy pushback

Jun. 18, 2019 6:46 PM EDT

SAN FRANCISCO (AP) — Facebook is getting a taste of the regulatory pushback it will face as it creates a new digital currency with corporate partners. Just hours after the social media giant unveiled early plans for the Libra cryptocurrency, French Finance Minister Bruno Le Maire insisted that only...

Twice burned: Winklevii overshadowed by Zuckerberg yet again

Jun. 18, 2019 6:22 PM EDT

SAN FRANCISCO (AP) — Can a Libra and two Geminis get along? How about Facebook and the Winklevoss twins? Back in the day, Mark Zuckerberg's hunky Harvard classmates claimed the Facebook CEO stole their idea for the social network when he was just a nerdy undergrad. Now, Facebook's grand plan for a new...

Facebook plans its own currency for 2 billion-plus users

Jun. 18, 2019 5:18 PM EDT

SAN FRANCISCO (AP) — Facebook already rules daily communication for more than 2 billion people around the world. Now it wants its own currency, too. The social network unveiled an ambitious plan Tuesday to create a new digital currency similar to Bitcoin for global use, one that could drive more e-commerce...

AP Explains: Behind Libra, Facebook's new digital currency

Jun. 18, 2019 4:20 PM EDT

NEW YORK (AP) — Facebook is unveiling a digital currency called Libra as the company seeks to make its ads more valuable by enabling smoother transactions and payments online, particularly among those without credit cards or bank accounts. Libra will use the same security and record-keeping principles as...

Huawei says US sanctions will cost it billions in revenue

Jun. 17, 2019 11:56 AM EDT

SHENZHEN, China (AP) — Huawei's founder said Monday that the Chinese telecom giant's revenue will be $30 billion less than forecast over the next two years, as he compared the company to a "badly damaged plane" as a result of U.S. government actions against it. "We never thought that the U.S.'s...

Latest Technology News

Lawmakers will hear from pilots who have criticized Boeing

Jun. 19, 2019 12:11 AM EDT

The president of the pilots' union at American Airlines says Boeing made mistakes in its design of the 737 Max and not telling pilots about new flight-control software on the plane. Daniel Carey says Boeing's zeal to minimize pilot-training costs for airlines that would buy its 737 Max jet contributed to errors...

Asian shares up on trade optimism as Trump hints of Xi talks

Jun. 18, 2019 11:32 PM EDT

TOKYO (AP) — Asian shares were mostly higher Wednesday on optimism about trade after President Donald Trump said he will talk with the Chinese leader later this month in Japan. Japan's benchmark Nikkei 225 added 1.7% to 21,321.17 in early trading. Australia's S&P/ASX 200 rose 1.0% to 6,637.70. South...

Facebook's currency Libra faces financial, privacy pushback

Jun. 18, 2019 6:46 PM EDT

SAN FRANCISCO (AP) — Facebook is getting a taste of the regulatory pushback it will face as it creates a new digital currency with corporate partners. Just hours after the social media giant unveiled early plans for the Libra cryptocurrency, French Finance Minister Bruno Le Maire insisted that only...

Twice burned: Winklevii overshadowed by Zuckerberg yet again

Jun. 18, 2019 6:22 PM EDT

SAN FRANCISCO (AP) — Can a Libra and two Geminis get along? How about Facebook and the Winklevoss twins? Back in the day, Mark Zuckerberg's hunky Harvard classmates claimed the Facebook CEO stole their idea for the social network when he was just a nerdy undergrad. Now, Facebook's grand plan for a new...

Trump says he'll talk trade with Xi next week in Japan

Jun. 18, 2019 5:55 PM EDT

WASHINGTON (AP) — President Donald Trump said he'll hold trade talks with Chinese President Xi Jinping next week at a summit of nations in Japan. And U.S. and Chinese negotiators will resume talks before the leaders meet. Financial markets greeted the news with relief Tuesday. The Dow Jones Industrial...

The Latest: Lawmaker wants Facebook to suspend currency plan

Jun. 18, 2019 5:54 PM EDT

NEW YORK (AP) — The Latest on Facebook's new digital currency (all times local): 5:40 p.m. The head of the House Financial Services Committee wants Facebook to suspend plans for a new currency until Congress and regulators are able to study it more closely. In asking Facebook to put the Libra currency...

Facebook plans its own currency for 2 billion-plus users

Jun. 18, 2019 5:18 PM EDT

SAN FRANCISCO (AP) — Facebook already rules daily communication for more than 2 billion people around the world. Now it wants its own currency, too. The social network unveiled an ambitious plan Tuesday to create a new digital currency similar to Bitcoin for global use, one that could drive more e-commerce...

Google pledges $1B to tackle housing crunch it helped create

Jun. 18, 2019 5:07 PM EDT

SAN FRANCISCO (AP) — Google is making a $1 billion commitment to address the soaring price of housing in the San Francisco Bay Area, a problem that the internet company and its Silicon Valley peers helped create as the technology industry hired tens of thousands of high-paid workers. The pledge announced...

How major US stock indexes fared Tuesday

Jun. 18, 2019 4:54 PM EDT

Technology companies powered stocks solidly higher on Wall Street Tuesday as traders hoped that a meeting next week between President Donald Trump and President Xi Jinping of China will ease trade tensions between the two economic powers. Markets also got a boost after the head of the European Central Bank said...

MoneyGram's shares more than double on deal with Ripple

Jun. 18, 2019 4:49 PM EDT

NEW YORK (AP) — MoneyGram's shares more than doubled Tuesday after the money transfer company announced a partnership with the cryptocurrency company Ripple. The companies said late Monday that the two-year deal will allow MoneyGram to use Ripple's blockchain service for cheaper cross-border payments....