While you were sleeping last night, innovation was stealing your ideas as you dreamed, making huge amounts of money, and then being forced to hand it over in fines.
1. The cap on the Deepwater oil leak seems to be holding, but BP is still awaiting the data from its pressure tests on the device. Less exciting for the firm must be the seven-year ban it is facing on offshore drilling from Congress. Fans of bewildering British comedy might enjoy former Python Terry Jones’s critique of BP. It’s a very naughty boy, apparently.
2. Google has $30 billion cash to play with, it revealed in its Q2 2010 results yesterday–and before the Android store reached its billionth
download. CEO Eric Schmidt described it as “a strong quarter”, with $6.82 billion of revenue–up 24% from a year ago. Wall Street, however, is not impressed with the $1.8 billion profit, and as a result, Google’s share price fell 4%. It’s to do with increased operating costs, apparently.
3. Goldman Sachs has been hit with a record $550 million fine for misleading investors. Beneficiaries will be the shareholders of all those banks who spent big and then had to be scooped up by their respective governments. “Half truths and deceptions” will not be tolerated, said the Securities and Exchange Commission.
4. Paul Allen, the co-founder of Microsoft, has said he will give his $13.5 billion fortune to philanthropic causes after his death. “I’ve planned for many years now that the majority of my estate will be left to philanthropy to continue the work of the foundation and fund non-profit scientific research.” Less good reviews from another Microsoft product, however: Windows Phone 7. “Don’t bother with this disaster,” says InfoWorld.
5. RIP Raoul Moat You Legend, the Facebook tribute page put up in memory of the British man who killed his ex’s new boyfriend before killing himself, has been taken down by its creator. Siobhan O’Dowd says she doesn’t know why she took it down. “A few of us came to a decision, but it’s going to be up and running again.” And if you want to see a bit more of the Aaron Sorkin-penned Facebook movie, The Social Network, a more revealing trailer has been released. Why isn’t Jesse Eisenberg, who plays Mark Zuckerberg, more auburn in it? He’s worth it, surely.