Amazon shares plunge after missing holiday quarter estimates

Shares in the online retailer dropped 12% after announcing a net profit of $482m in last months of 2015, a gain that was less than analysts had been expecting

Amazon recorded it largest ever quarterly profit over the holiday quarter but missed Wall Street’s estimates by a wide margin, sending its share price into a tailspin.

Shares in the world’s largest online retailer plunged 12% on Thursday after it announced a net profit of $482m for the three months ending 31 December – up from $214m a year earlier. The company notched up $35.75bn in sales in last year’s final three months.

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Silicon Valley’s poorest workers tell government ‘we can’t live like this’

Despite the tech boom, cafeteria staff, security workers and bus drivers have told US labor secretary Thomas Perez they feel like ‘second-class citizens’

At Intel’s corporate headquarters in Santa Clara, California, the highly paid engineers and developers directly employed by the computer chip company wear blue identification badges.

Janitors, electricians, gardeners, security guards and cafeteria workers employed by various subcontractors wear green badges.

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Microsoft co-founder’s yacht tears up protected coral reef in Cayman Islands

  • Paul Allen’s 330ft vessel destroys 80% of reef in protected zone
  • Allen’s foundation supports marine conservation and tackles overfishing

A yacht owned by Microsoft co-founder and marine conservationist Paul Allen has ploughed into a sensitive reef in the Cayman Islands, destroying the majority of coral on the protected ecosystem.

The MV Tatoosh, a 300ft yacht owned by the billionaire Allen, ripped up 14,000 square feet of coral reef in the West Bay replenishment zone, according to local officials. About 80% of the reef, situated in a protected area, was destroyed by the ship’s chain. It is thought that Allen was not on board at the time.

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How Facebook tracks and profits from voters in a $10bn US election

Social network lets campaigns match profiles with political habits and contact info, as Silicon Valley influence becomes ‘game-changer’ for targeted ads

If you lived in northeast Iowa, the evangelical stronghold where the battle for the soul of conservative American politics will play out in person on Monday, and happened to have given Senator Ted Cruz’s campaign your email address sometime in the last few months, you might find something especially appealing this weekend in your Facebook feed.

You might see, amid the family photos, a menacing video of Donald Trump talking about how “my views are a little bit different than if I lived in Iowa”. LIKE ON ABORTION, blares the sponsored ad from Cruz’s deep-pocketed, social media-savvy digital team. And you might wonder how this campaign managed, by paying Facebook, to differentiate between Trump’s “New York values” and “OURS”.

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Google UK staff earned average wage of £160,000 each in 2015

Former public accounts committee chair Margaret Hodge says figure shows Google UK is ‘not a back office support operation’

Google’s 2,300 staff in the UK earned an average wage of £160,000 each last year, despite the group’s insistence that its British operation is a modest outpost of the company’s global empire.

Margaret Hodge, the former chair of the public accounts committee, said high pay among London staff was further evidence that Google’s “complex structure of companies is a sham”. Its UK employees mainly provide marketing and support services to offices in Dublin.

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