Morning Beat: Twitter Inc (TWTR), Facebook Inc. (FB), and Goldman Sachs Group Inc (GS)
Twitter Inc (NYSE:TWTR) CEO, Jack Dorsey, was forced to run damage control over the weekend as users reacted angrily to rumors making waves online. The hashtag RIPTwitter had users up in arms over claims the company was considering adopting an algorithm-based timeline.
Currently, tweets appear in a chronological order something that differentiates the network from the likes of Facebook Inc. (NASDAQ:FB).Under the purported system, tweets would appear based on what Twitter Inc (NYSE:TWTR) thinks one might want to see.
Dorsey on trying to calm the storm did not specify whether the new changes were in the pipeline.
Facebook Inc. (NASDAQ:FB) apps have long been the subject of concerns over the amount of power they consume in the background. It is a problem that the giant social network has tried to address, but as it appears, to no success. Recent tests show that uninstalling the iOS version of the app could save as much as 15% of the iPhone battery.
The Android version of the app is not any better as studies shows that deleting the app one can save up to 20% of the phone’s battery. Removing the Facebook Inc. (NASDAQ:FB) app and opting to access the service in Safari for iPhones has been mooted as one of the solutions to the nagging problem.
A Goldman Sachs Group Inc (NYSE:GS) team led by, Jan Hatzius, has downplayed growing concerns that the global economy is slowly sinking into a recession. The bank’s economics’ team remains upbeat about the outlook of the developed world, even as the rout in the stock and bond market continues to evoke concerns.
Having studied a series of economic and market indicators the team believes there is 25% risk of recession over the next four quarters, in Industrial economies. The threat of recession over the next two years on the other hand stands at 34%.
Recent market weakness according to Hatzius should provide good risk-adjusted opportunities for the brave. Goldman Sachs Group Inc (NYSE:GS) estimates are based on 20 economies dating back to 1970.
Some high profile London officials are reportedly trying to persuade Alphabet Inc (NASDAQ:GOOGL) into carrying driverless cars tests in the city. The calls come on the tech giant racking up more than a million miles with the revolutionary technology in the US.
According to London’s deputy mayor for transport, Isabel Dedring, talks have been ongoing for the past three years. However, no concrete agreement has come out. The push is all part of an effort by the government that seeks to position Britain as the hub center of research, more so on autonomous transportation.
The government has already funded a string of research projects, but none has come close to what Alphabet Inc (NASDAQ:GOOGL) is working on.
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