Facebook warns privacy fine could be $3bn-$5bn; beats analyst expectations
Facebook put aside $3bn to pay a potential privacy fine from a US regulator and warned in its earnings announcement that the penalty could be as high as $5bn. Total first quarter revenue increased 26% from $12bn in 2018 to $15.1bn this year; analysts had forecast $15bn. Regular users were up 8% year-on-year. Facebook shares rose roughly 10% in afterhours trading. Reported by the Financial Times, Reuters and Techcrunch.
Crashes hit Boeing finances
Boeing said the grounding of the 737 Max fleet ate $1bn into its cash reserves, although it still posted a quarterly profit. Reported by ABC News, the Financial Times and Seattle Times.
Cargolux posts record earnings
Europe’s largest air cargo carrier, Cargolux, reported higher revenues for the second year in a row. Reported by Air Cargo News, Delano and The Loadstar.
Google drone unit approved as airline
A Google subsidiary became the first drone operator to receive US government authorisation as an airline and will begin a delivery service in the US state of Virginia, reported Bloomberg, Geekwire and NPR.
E-car hire company makes move into Ireland
UFOdrive, the Luxembourg-based electric car rental service that was founded by an Irishman, has expanded into Dublin, reported the Irish Times, Irish Independent and Electrive.com.
Sturgeon wants new Scottish independence vote in case of Brexit
Nicola Sturgeon, the first minister of Scotland, wants a second Scottish independence referendum to be held by May 2021, when the next Scottish parliament elections are due, if Brexit proceeds. Scotland voted to remain in the EU. Downing Street noted that Scottish voters rejected independence in the 2014 vote. Reported by the BBC, Guardian and Sky News.
Britain gives Huawei partial 5G OK
The UK decided to let the Chinese telecoms gear maker Huawei build part of Britain’s 5G mobile network, according to the Daily Telegraph. That earned criticism from the US, reported the Financial Times, and from within the governing Tory party, reported the Guardian.
Charges revealed against ex-Interpol chief
The former president of Interpol, Meng Hongwei, who disappeared from France last September, has been formally arrested on alleged corruption charges, reported the AFP, Associated Press and South China Morning Post.
Passover tweet criticised in Poland
The US ambassador to Poland, Georgette Mosbacher, created a Twitter storm after wishing Poles a “Happy Passover” last week, as reported by the Associated Press. She was accused of “provocation” in a predominantly Catholic country. Mosbacher also retweeted a Good Friday message and posted an Easter greeting.
Inquiry started into Gilets jaunes police suicide taunts
The Paris prosecutor’s office opened an investigation into Yellow Vest protestors who told police to “kill yourselves”. Twenty-eight French police officers died by suicide during the first three months of 2019; 68 did in 2018. Reported by AFP-Jiji Press, RFI and the Press Association.
Later today
9am: Luxembourg MPs will debate the state budget. 1:30pm: Luxembourg Sustainability Forum 2019 at the Cercle Cité. 6:30pm: The Luxembourg-Poland Chamber of Commerce hosts a software development meetup at The Office. 6:30pm: Investing for women: a beginner’s guide in Kirchberg. 6:30pm: The Big Clothes Swap Luxembourg at De Gudde Wëllen. Earnings: Banco Bradesco and UBS release quarterly results.
Looking ahead
Friday 26-Sunday 28 April: Art 3F contemporary art fair at Luxexpo. Friday 26-Monday 29 April: City Nature Challenge 2019 organised by the National Museum of Natural History. Saturday 27 April: Kirchberg Gaming Day at the Auchan shopping centre.
Robbery dot wrong
A man in the US state of Iowa has been sentenced to 20 years in prison for attempting to steal an internet domain name at gunpoint for his cousin, and the cousin currently faces 20 years for conspiracy, reported The Register.
Today’s breakfast briefing was written by Aaron Grunwald