Good morning! This is the tech news you need to know this Wednesday.
- Amazon officially announced that its second headquarters, or HQ2, will be split between New York and Virginia.Amazon also announced a new office in Nashville, Tennessee, where it said it would hire 5,000 people and invest $US230 million.
- Amazon will benefit from massive tax breaks from both HQ2 cities. The company will receive $US1.5 billion in tax breaks from New York City, and up to$US550 million in cash grants from Arlington, Virginia.
- Google is consolidating DeepMind’s healthcare AI business into its new Google Health unit. The reorganisation comes just four days after Google announced it was hiring big-name healthcare CEO David Feinberg to head up its healthcare initiatives.
- SoftBank committed another $US3 billion to WeWork, and the deal could value the office sharing firm at around $US42 billion. According to third-quarter financials seen by Business Insider, WeWork has substantially increased its revenue but its losses have more than tripled.
- The Justice Department and Securities and Exchange Commission have subpoenaed Snap for information about its March 2017 initial public offering. The federal inquiries follow an ongoing shareholder lawsuit in which investors allege that Snap misled the public about how competition from Facebook’s Instagram service had affected the company’s growth.
- Over 600,000 Americans followed Instagram accounts that are now believed to be run by Russian trolls.Facebook said it has now taken down 99 Instagram accounts, 36 Facebook accounts, and 6 Facebook Pages.
- Uber released a document on Monday laying out how it is going to categorise reports of sexual misconduct and assault in readiness for a 2019 transparency report. The report outlining the categories contains a “mix-and-match” exercise in which readers match creepy stories of misconduct and assault to the company’s new categories.
- Goldman Sachs analysts slashed their iPhone unit sales estimate by 6% and downgraded their price target after Apple supplier Lumentum said that a major customer, believed to be Apple, had drastically cut its order. The analysts said they are worried that “end demand for new iPhone models is deteriorating.”
- Microsoft is resuming the rollout of the October 2018 Update to Windows 10. The update originally came out last month, but Microsoft stopped the rollout after some users said it was wiping their personal files.
- The Silicon Valley startup Juul announced on Tuesday that it would temporarily stop selling its flavored e-cigarettes in stores. Researchers nearly unanimously praised the move, which they say could help protect young people by making the products less appealing and harder to purchase.
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