Technology

Google Parent Alphabet and Aramco in Talks to Build Tech Hub in Saudi Arabia

BN-XG362_37gsU_G_20180131160718

Alphabet Inc. swung to a loss after taking a $9.9 billion charge related to the new U.S. tax law, though its core advertising business continued its strong run.

Google parent Alphabet Inc.’s fourth-quarter profit missed analysts’ estimates, hobbled by rising payments to web-search partners, higher marketing expenses and troubles at YouTube that weighed on its advertising business during the holiday quarter.

Google parent Alphabet Inc missed quarterly profit forecasts as steady ad sales growth was offset by increased spending to promote its consumer gadgets, YouTube video app and cloud computing services, the U.S. technology company said on Thursday.

Source: Reuters

Saudi Arabia’s state-owned oil giant and Google parent Alphabet Inc., two of the world’s biggest companies, are in talks about jointly building a large technology hub inside the kingdom, people familiar with the potential deal said.

Google parent Alphabet Inc replaced long-time Executive Chairman Eric Schmidt with board veteran John Hennessy, a former Stanford University president and one of search engine company's first users, it said in a regulatory filing on Thursday.

Source: Reuters

GM reported progress in the consistency of its autonomous-driving system last year as it sharply increased testing on the roads of California, though it remained well behind the self-driving tech unit of Google-parent Alphabet Inc., according to state records.

All Sources: Reuters Wall Street Journal Los Angeles Times Reuters Wall Street Journal Wall Street Journal

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