In a handy coincidence of scheduling, Apple and Facebook will both report earnings after the market closes on Wednesday.

The two Silicon Valley giants will give Wall Street a fast look at the state of the mobile and online advertising markets, at a time when tech valuations are facing growing questions from investors like David Einhorn

The Heartbleed bug, a flaw discovered on encryption software used on about two-thirds of all websites, was created unintentionally, the programmer responsible has said.

Robin Seggelmann, a German programmer, described the flaw as the consequence of a “trivial” error in an update to OpenSSL, the software widely used to enable secure connections, writes Jeevan Vasagar

by Barney Jopson

Frustrated by not being able to dictate your shopping list to Amazon? Well, even if you weren’t, Jeff Bezos’s company has come up with a solution to the problem you never had.

The Seattle-based online retailer on Friday unveiled a new stapler-sized device called Dash that let’s you speak a list of groceries to your Amazon account, to which it is linked via Wi-Fi. 

By Adam Palin in London

 

Education technology company 2U appears to have passed its entry exam, with shares up 7 per cent at noon on its Nasdaq debut.

 

At a share price of $13.91, the Maryland-based company – which develops cloud-based degrees with universities – is valued at $544m. Not a bad start as a listed company for one that has yet to turn a profit.

 

Machine blowing away pieces paper

It only takes a quick internet search of the terms “UPS” and “telematics” to understand why the promised benefits of big data are likely to take longer to arrive than many have been led to believe.

Among the links to technology information sites and Teamsters Union web pages is a comment from a blogger known as Denverbrown.

Addressing drivers for the US parcel delivery service UPS, it sums up the mood of workers who sometimes find themselves at the sharp end of new technologies like this: “The system should be known as Harassamatics. They tell you it’s about safety, and seat belts . . . It’s all about stealing your break time for their profit, and harassing you into a heightened state of frenzy about your job.”

Big data is facing its human moment.

 

The prospect of a US-based IPO by Chinese e-commerce juggernaut Alibaba has triggered a recent wave of short-term conjecture over the eye-watering figures involved.

A listing could garner as much as $25bn for example – making it the largest float in history. Wall Street banks could reap up to $400m in fees. Alibaba’s $170bn annual revenue now accounts for 2 per cent of China’s gross domestic product, and is bigger than those of eBay and Amazon combined.

 

A man looks at the screen of his mobile phone at Pudong financial district in ShanghaiA new war is brewing between China’s three internet giants, known collectively as BAT – short for Baidu, the dominant search engine, Alibaba, which controls 80 per cent of China’s ecommerce, and Tencent, the gaming and social media juggernaut with a market capitalisation of $132bn. For Wang Ran, a blogger and founder of China eCapital, an investment bank, the competition between Didi Dache [“Honk Honk Taxi”], a Tencent taxi-hailing app, and Alibaba’s Kuadi Dache [“Fast taxi”] is “the first battle in the first world war of the internet”.

 

Alibaba’s decision to head to the US for its blockbuster IPO – perhaps the world’s largest ever – is undoubtedly a major blow to Hong Kong’s global ambitions.

But chucking out years of hard-won progress for a single pay-day – with the risk of opening
the market to myriad potential problems down the road – would have been the wrong move.

 

Retiring Apple CFO Peter Oppenheimer

There will be a new face in charge of Apple’s balance sheet.

Luca Maestri, currently a corporate controller at the iPhone maker, will be Apple’s next chief financial officer. He succeeds Peter Oppenheimer, who is retiring. 

In the battle between old and new media, Time Warner’s premium cable channel HBO still rakes in more money and global subscribers but television streaming service Netflix is quickly gaining ground, writes Emily Steel.

Time Warner released separate financial figures for HBO for the first time on Wednesday, prompting comparisons with Netflix which famously overtook HBO in US subscribers in November.