DAILY BRIEFING: Facebook security chief quits to become a teacher

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Facebook security chief Alex Stamos is leaving the social network to join Stanford University


DAILY BRIEFING: Facebook security chief quits over Russian meddling in US elections

City & Finance Reporter for the Daily Mail

Facebook security chief Alex Stamos is leaving the social network to join Stanford University

Facebook security chief Alex Stamos is leaving the social network to join Stanford University

LOGGING OFF The security chief at Facebook has quit following a series of scandals over election interference.

Alex Stamos is leaving the social network to join Stanford University as a researcher and teacher.

His departure comes after reported disagreements over how the company addressed the Russian government’s use of the service to spread false information during the 2016 US presidential campaign.

INTERNET EXPANSION Broadband provider Hyperoptic has raised £250million to power a massive building programme across the UK.

The scheme, funded by eight banks, will provide cutting-edge internet connections to homes and businesses in 50 towns and cities. It aims to reach 2m homes by 2022, creating 1,500 jobs.

BANK BONANZA Investors who put as little as £10 into digital bank Revolut when it raised money on crowdfunding platform Crowdcube in 2016, have now made 19 times their money.

Revolut was valued at £1.2billion earlier this year, and Crowdcube investors were offered the chance to sell out. Anyone who invested the maximum £5,000 will have made £95,000.

FLIGHTS WOE Budget carrier Ryanair was forced to cancel more than 1,000 flights in July due to pilot and cabin crew strikes, up from just 23 cancellations a year earlier. Passenger numbers increased by 4 per cent to 13.1m.

TARIFF DODGE BMW is producing between 10,000 and 20,000 X5 sports utility vehicles in Thailand as a way to get them to the Chinese market now that imported vehicles from the US face a 40 per cent tariff. 

They would have otherwise been made in its plant in South Carolina.

FOOTBALL BOOST Pub chain Mitchells and Butlers grew sales by 0.9 per cent in the 43 weeks to July 28 as consumers enjoyed the sunny weather and celebrated the World Cup. 

However, poor sales in its food business dragged, taking some of the shine off revenues.

FILLING UP Petrol station operator Applegreen is set to snap up a majority stake in motorway service station group Welcome Break for £321million.

REVENUES RISING Spanish brewer Mahou San Miguel increased its revenues by 3.4 per cent to £1.1billion last year. However, profits were down by 2.7 per cent to £228.8million.

 

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