* Shell (LSE: RDSB.L - news) , ENI (LSE: 0N9S.L - news) face corruption trial over oil deal in Nigeria. Now (Frankfurt: 11N.F - news) , nine current and former executives or contractors from Italy's Eni and British-Dutch giant Royal Dutch Shell (LSE: 0LN9.L - news) , including ENI Chief Executive Claudio Descalzi, have been accused by Italian prosecutors of paying bribes to secure the licence to explore a large offshore oilfield in 2011. If found guilty, the individuals on trial face possible jail terms for bribery. The criminal trial will proceed in Milan on June 20 after a short initial hearing on May 14. Some of the key issues in the trial came to light during the two separate civil suits filed by a Nigerian, Emeka Obi, and a former Russian diplomat, Ednan Agaev, a Reuters review of court filings shows. In addition, documents produced in Agaev's case showed that when Eni and Shell paid for the licence, they deposited more than $1 billion into a Nigerian government escrow account in London but most of the money later ended up with Malabu, which was controlled by Etete, the judge said.
New versions should begin deliveries in JulyBloomberg NewsTwo new versions of Tesla Inc.’s Model 3 electric cars are coming. Elon Musk announced details about a high-performance upgrade for Tesla Inc.’s Model 3 electric cars in a series of tweets Saturday night, including one version that more than doubles the sedan’s cost. The Tesla chief executive compared the souped-up model to BMW’s high-performance M3, which starts around $67,000.
Rich Duprey, The Motley FoolMotley FoolMay 20, 2018. Although there's a lot to recommend the proposed new dating feature from Facebook(NASDAQ: FB) -- enough that Match(NASDAQ: MTCH) should not just shrug it off -- ultimately the social networking platform won't prove as much of a threat as feared. Although specifics are still vague, let's take a closer look at what Facebook is proposing to understand why Match will still own the dating scene for a long time to come. You'll access it through your existing Facebook account, not through a separate app, but current friends on the platform won't be able to see a person's dating profile and they won't be matched up with someone they're friends with. Considering the fires from privacy breaches Facebook is still trying to tamp down, it's with a bit of hubris that at a conference in which it spent a lot of time explaining why it should still be trusted with your personal information, it announced a dating feature that will use an algorithm to connect that data to another person's data. According to Statista, 35% of those on Tinder are between 18 and 24 years of age with another 25% between 25 and 34, while 58% of those on Facebook are 25 to 34. Although that suggests a lot of overlap, Business Insider found that users aged 45 to 54 are the ones who spend the most time on Facebook, representing 21% of the total time spent on the platform.
Data protection watchdog ready to ‘look behind scenes’ at Facebook’s source code. The data protection watchdog will this week be granted fresh powers that will allow it to access Facebook’s secretive source code, to ensure it is compliant with new data protection law. From Friday, the Information Commissioner’s Office will have the power to inspect a private company’s intellectual property through algorithm audits, to see that computer programmes are mining and processing European citizen’s personal information in a “transparent” and “fair” manner. It would also look to make sure programmes worked in the way the social network claimed they did. If it is found to be in breach, the tech giant faces a $1.1bn (£820m) fine.
The company now known as Snap(NYSE: SNAP) introduced Stories -- slideshows of images and videos that disappear after 24 hours -- way back in 2013. "Facebook started slower but is now growing quickly too. And WhatsApp Status is by far the biggest of these products and continues to grow quickly." Importantly for investors, Facebook is going to start showing ads in Facebook Stories, something it's already been experimenting with in Instagram Stories since early last year. Simply put, the return on investment for advertisers is likely better on Facebook's stories products than Snapchat Stories. And with a finite budget with which to experiment with the format, marketers are more likely to buy Facebook's ads because of the better ROI. And those Facebook ad purchases come at the expense of Snap Ads. What's more, Facebook's just getting started with ads in stories.
Natalie Walters, The Motley FoolMotley FoolMay 20, 2018. When Snap(NYSE: SNAP) went public, some investors were giddy about getting the opportunity to invest in a company that was so popular with millennials and teens, the groups that will be the economic driving force for the next few decades. The general narrative was that Snapchat was cool and used by younger people, while Facebook(NASDAQ: FB) was lame and overrun with older folks. But that narrative hasn't led to Snap unseating Facebook as the best-in-class social media company for investors. Plus Snap still lost $720 million in 2017. For comparison, the year after Facebook went public, it had an impressive revenue of $5.1 billion, an increase of 37% over the previous year's already impressive $3.7 billion. And unlike Snap, Facebook was profitable in the year after its IPO, bringing in net income of $53 million. And despite the large revenue base, Facebook continues to pull off impressive top-line growth five years after going public. For 2017, Facebook's revenue increased 47% year over year to $40.7 billion. What to read next. If You Want to Buy Snap, Stop and Buy Facebook Instead.
Nicholas Rossolillo, The Motley FoolMotley FoolMay 20, 2018. If there was still any doubt that artificial intelligence will be part of the future, here's more evidence why it will be. Google parent company Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) recently revamped its two AI do-it-yourself kits (marketed under the AIY Projects offshoot) for kids and other tinkerers. Rather, AIY kits help solve a future labor need and help establish the brand as a go-to resource for tomorrow's technologists. The thinking is if a company can get kids using a product early, those kids will continue to do so in adulthood. But Google is an internet search company, and the lion's share of revenue and profit is derived from advertising on its internet business.
Tesla releases source code for some of its in-car tech. Tesla doesn't have many fans in the open source crowd. It based its car platforms on open platforms like Linux and BusyBox, but it has gone years without sharing the source code their license (the GPL) requires. It has posted the source code for both the material that builds the Autopilot system image as well as the kernels for the Autopilot boards and the NVIDIA Tegra-based infotainment system used in the Model S and Model X. While they don't represent the absolute latest code, Tesla is promising to keep pace with newer releases.
“I love hoodies, so when I saw that ad, it spoke right to my heart,” said Ms. Carlson, a 32-year-old in Oakland, Calif. The ad was from an e-commerce site called Affinity Find, which has more than 700,000 Facebook followers—about the same as eyeglass seller Warby Parker. Affinity Find sells dozens of products on its website, which says a store is coming soon to downtown Seattle.
On the one hand it really wanted to aggressively invest in its products and roll out the fiber broadband connections, on the other hand it also had to keep the shareholders happy whilst it was facing a substantial pension deficit. Fortunately the balance sheet was still pretty robust as the net debt/EBITDA ratio remained limited to just 1.5. In fact, although the current pension deficit is just 11.4B GBP, the total payments into the scheme are approximately 13.2B GBP, so BT Group's 13-year pension deficit plan seems to be determined to tackle all issues. Removing the "progressive dividend" policy is a first step, but won't be sufficient. But if 1/3 rd of the shares of BT Group agreeing to a stock dividend, the company could save 500M GBP per year in cash outflow. Now BT has a plan, and it's even planning to put more cash in than required, which could generate a pension surplus and guess what, the market isn't happy either. If we would look at the cash flows and the dividend, then yes, BT Group is generating enough cash flow to cover the capex and the dividend. But it will require an effort to make sure its pension plan is fully funded.