Richard Yu, CEO of Huawei's consumer business, said Huawei's own operating system for smartphones and laptops could be ready for use in China by fall this year.Technologyread more
British Prime Minister Theresa May could announce her resignation in the next few days, according to U.K. media reports, as she faces increasing pressure from members of her...Europe Politicsread more
Shares of Chinese telecommunications heavyweight Huawei's suppliers took a hit on Thursday amid the ongoing fallout surrounding the Chinese telecommunications giant.Asia Marketsread more
Lawmakers, lobbyists and CEOs in the U.S. are looking to trying to pick out the best parts of the EU's privacy law called GDPR – and ditch what they see as the worst.Technologyread more
After holding parliamentary elections over seven phases, India started counting the votes on Thursday — and Prime Minister Narendra Modi's Bharatiya Janata Party-led coalition...Electionsread more
The embattled German lender saw its share price hit a record low Monday, down nearly 5% since the start of the year.Banksread more
Among the many ways Trump has shattered White House norms, his impulsive public communications rank among the most consequential. By inspiring investors or spooking them, his...Politicsread more
Political experts believe the vote could give more insight into national politics in each member state, rather than on the future of the EU itself.Europe Politicsread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
China accounted for 40% to 60% of the global increase in trichlorofluoromethane, or CFC-11, emissions between 2014 and 2017, a study found.Scienceread more
CNEX, backed by Microsoft and Dell, filed new allegations in a Texas suit accusing China's Huawei and an executive of trade secrets theft.Technologyread more
Salesforce co-CEO and co-founder Marc Benioff called on San Francisco's 70 billionaires and other tech elites to donate more to their own community in an event in the city on Monday.
"San Francisco is amazing," he said. "We have these incredible companies and entrepreneurs, innovation and technology, but we cannot separate ourselves from others. We have to get back to the feeling that we are one, and we are responsible for the city that we are living in and growing our businesses in."
He added, "Homelessness has always been an issue, but not like this. ... We're at a tipping point."
Benioff made the comments at the Wired 25th anniversary summit in San Francisco.
Benioff recently argued with Square and Twitter CEO Jack Dorsey over a proposal that will go before San Francisco voters in November, Proposition C. The proposal could lead to new taxes on the largest businesses in San Francisco, where both companies are headquartered, generating money earmarked to solve endemic homelessness in the area.
The Salesforce CEO strongly backed Prop C, even though it could wind up costing his company $10 million in added taxes annually. Dorsey opposed the measure, voicing support for San Francisco Mayor London Breed instead. (Breed also is opposed to Prop C, saying the plan is likely to harm the local economy.)
At the conference, Benioff offered a not-so-veiled criticism of some of his contemporaries in the city.
"There's a group of people in the city who are willing to give. And there's a group of people in the city who don't."
Benioff, and Salesforce, have donated to a variety of causes, including some $250 million to support hospitals, $11 million to help the homeless, and $50 million to public schools in San Francisco and Oakland.
He lamented that one of every 30 kids in the public schools around San Francisco is homeless. "Imagine being in K-12 and not knowing where you're going to be at night? That's not right in this city."
And then he called on other tech executives to back Prop C, which would impose a .5 percent tax on San Francisco's biggest businesses.
"Philanthropy can only go so far," Benioff said. "I'm the largest employer in the city. I think it's great, and we have to do it. If we don't do it, then it will become a material issue to our business. At what point do we say this is really out of control?"
At the end of August, which marked the second quarter of its 2019 fiscal year, Salesforce reported around $3.3 billion in revenue, beating analysts' expectations.
The company expects revenue of about $13.2 billion this year, and expects that to grow to as much as $23 billion in fiscal 2022.