Tech Report: Google versus Capitol Hill

Data breaches grow

Data breaches have grown in intensity and frequency in recent months as cybercriminals take advantage of coronavirus confusion.

Large-scale data breaches increased 273% in the first quarter, compared to the same time last year, according to a new study from cloud computing company Iomart.

More and more business — from online banking to e-commerce — is being conducted online, giving hackers more opportunities. 

Google vs. Capitol Hill

Google CEO Sundar Pichai came under fire from lawmakers on Capitol Hill during a highly-publicized hearing for the company’s decision to pull out of bids for lucrative government contracts following employee backlash – while still carrying on some operations in China.

Google is not, he said, working with the Chinese military. It does not offer a lot of features, like search and maps, in the country either.

Big tech may have a big impact

Four big tech names — worth nearly $5 trillion  — all report earnings today, and that could create “crazy” market volatility if one or more disappoint.

Apple, Amazon, Alphabet, and Facebook are all scheduled to report in the 4 p.m. hour.

That could have a big impact on how stocks close out the week. 

PayPal profit jump

PayPal reported an 86% jump in second-quarter profit on Wednesday as the e-commerce payments processor benefited from the shift to online spending amid the coronavirus pandemic.

PayPal’s CEO predicted there is no going back from e-commerce.