10 things in tech you need to know today

Louis Lanzano/BloombergDaniel Ek, chief executive officer of Spotify.

Good morning! Here is the tech news you need to know this Tuesday.

1. The US Federal Trade Commission has said it will investigate Facebook due to the Cambridge Analytica scandal, sending the firm’s stock plummeting further. The FTC will look into the firm’s privacy practices, and whether it has broken broader FTC rules.

2. Leaked code and files indicate that Canadian political ads firm AggregateIQ has strong links to Cambridge Analytica.Security firm Upguard found code suggesting AggregateIQ built the software sold by Cambridge Analytica to clients during the US presidential election in 2016.

3. Uber has been suspended from testing its self-driving vehicles in Arizona, following a fatal crash in the state. The state’s governor called the incident an “unquestionable failure.”

4. Police arrested an organised crime mastermind suspected of stealing £870 million ($US1.2 billion) by running malware campaigns that targeted banks. The individual was arrested in Spain.

5. Tumblr deleted 84 accounts it said Russian propagandists may have used to spread misinformation on its platform during the US presidential election. Tumblr said the accounts had connections to the Internet Research Agency, a Russian trolling operation.

6. Spotify said it expects revenue growth of 20% to 30% this year in a forecast published a week before the firm goes public. The company also expects to have signed up between 73 and 76 million paying subscribers for the month.

7. Calm, the meditation app cofounded by Mind Candy founder Michael Acton Smith, is in the process of raising funding that would value it at $US250 million (£176 million), according to CNBC. The app was picked by Apple as top app of the year in 2017.

8. Researchers found hackers have successfully targeted up to 500,000 Android users by sneaking malware into harmless-looking apps on the Google Play store. The malware floods the device with ads to generate click-based revenue.

9. A Hong Kong subsidiary of iPhone supplier Foxconn is buying US consumer electronics maker Belkin for $US866 million ($US608 million), according to The Financial Times. FIT Hon Teng said it would establish a new smart home business.

10. Facebook’s favourability rating plunged twice as much as other tech companies in a SurveyMonkey poll commissioned by Axios. Facebook fell 28 points, while Amazon was only down 13 points and Google 12.

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