Google parent company Alphabet reportedly lost “billions” of dollars after “covering up sexual abuse” at the company, and now a shareholder is suing because of it. According to Mercury News, which cited a recent lawsuit from shareholder James Martin, “Alphabet’s board of directors cost the firm billions of dollars by covering up sexual abuse by senior executives and paying them millions as they were quietly ousted.”Martin is reportedly suing Alphabet’s board of directors over the loss, which came from the company’s stock plummeting during the “fallout” of the scandal. “A worldwide walkout in November by thousands of Google employees, in response to revelations in the New York Times about Rubin’s alleged golden parachute, cost Google hundreds of millions of dollars beyond the executives’ payouts,” Mercury News reported. “And fallout from the purported scandal led to billions of dollars in … [Read more...] about Lawsuit: Google Parent Alphabet Lost ‘Billions’ by Covering Up Sexual Abuse
Alphabet
Alphabet’s life science tech unit Verily raises $1 billion from investors
(Reuters) - Verily, Alphabet Inc's <GOOGL.O> life sciences division, on Thursday announced a $1 billion (791 million pounds) investment round led by private equity firm Silver Lake. Alphabet Chief Financial Officer Ruth Porat and Silver Lake Managing Director Egon Durban will be nominated to Verily's operating board, the company said. Verily's existing board members include Chief Executive Andrew Conrad, Alphabet executives Larry Page, Sergey Brin and David Drummond and Temasek senior managing director Fidah Alsagoff, a company spokeswoman said. Ontario Teachers' Pension Plan was among the new investors in the latest round. Verily, which was previously part of Google's research and development unit, received an $800 million investment from Singapore state investor Temasek in 2017. Verily said the new fund would support its investments, including in potential acquisitions and partnerships, and would advance its strategies that are complementary to its current portfolio. The … [Read more...] about Alphabet’s life science tech unit Verily raises $1 billion from investors
Amazon Beats Alphabet, Samsung On Top R&D Spenders List
Nov 29, 10:46 AM EST Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Technology By Corazon Victorino 11/29/18 AT 5:18 AM Amazon has just been hailed as the biggest spender on research and development (R&D) over the past year among 1,000 companies. Global accounting and consulting firm PricewaterhouseCoopers (PwC) recently published a report, entitled “The 2018 Global Innovation 1000 study,” which ranks the world’s largest publicly listed R&D spenders. U.S. e-commerce giant Amazon topped PwC’s list with its $22.6 billion R&D expenditures for the year 2018. Google’s parent company Alphabet Inc. placed second after incurring $16.2 billion R&D expenditures. German car maker Volkswagen took the third spot with $15.8 billion, while South Korean tech giant Samsung Electronics bagged the fourth spot with $15.3 billion. Intel, which placed third last year, came fifth this year with $13.1 … [Read more...] about Amazon Beats Alphabet, Samsung On Top R&D Spenders List
Alphabet Chairman ‘Not Confident’ in Google CEO’s China Business Strategy
The chairman of Google’s parent company, Alphabet, is reportedly unsure about Google CEO Sundar Pichai’s plans to introduce a censored Chinese search engine. John Hennessy, the chairman of Alphabet Inc. the parent company of Google, is reportedly unhappy with Google CEO Sundar Pichai’s plans to launch “Project Dragonfly,” a government-censored search engine in China. In an interview with Bloomberg, Hennessy revealed a number of doubts he had surrounding the move, which has been widely criticized by a number of human rights groups and U.S. Vice President Mike Pence.“The question that I think comes to my mind then, that I struggle with, is are we better off giving Chinese citizens a decent search engine, a capable search engine even if it is restricted and censored in some cases, than a search engine that’s not very good? And does that improve the quality of their lives?” Hennessy said in an interview with Bloomberg’s Brad Stone. When … [Read more...] about Alphabet Chairman ‘Not Confident’ in Google CEO’s China Business Strategy
Alphabet-owned Verily puts smart contact lens project on hold
News / UK and world by Press Association November 19, 2018, 3:07 pm FacebookTwitterLinkedInWhatsAppEmail Sign up to our Daily newsletter A company from Google’s parent firm Alphabet is putting a glucose-sensing smart contact lens project on hold. Verily began working with pharmaceutical firm Novartis and its Alcon eye division in 2014 to develop the contact lenses, as well other types of smart lenses, including a pair that measured glucose levels in tears to help those with diabetes manage the disease. However, the firm has now said the level of glucose it was detecting in tears did not compare closely enough to the levels found in blood during testing. “Our clinical work on the glucose-sensing lens demonstrated that there was insufficient consistency in our measurements of the correlation between tear glucose and blood glucose concentrations to support the requirements of a medical device,” the company said in a blog post. “We are at a … [Read more...] about Alphabet-owned Verily puts smart contact lens project on hold