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Alphabetannounced its first-ever dividend on Thursday and a $70 billion stock buyback, cheering investors who sent the stock surging nearly 16% after the bell.

The Google parent is returning capital while spending billions of dollars on data centers to catch up with rivals on generative artificial intelligence. The dividend will be 20 cents per share.

Just three months ago, Alphabet’s Big Tech rival, Meta Platforms, announced its own first-ever dividend, a move that lifted the social media company’s stock market value by $196 billion the following day. Amazon remains the lone holdout among Big Tech firms not offering a dividend.

Alphabet beat expectations for the quarter in sales, profit and advertising – metrics that are all closely watched.

“Alphabet’s announced dividend payouts and buybacks on top of the solid earnings beat are not only a breath of fresh air for the tech market as a whole, but also a very intelligent strategy for the search engine giant going into a tough time of the year,” said Thomas Monteiro, senior analyst at Investing.com.

Alphabet’s after-hours share surge of nearly 16% following the report increased its stock market value by about $300 billion to over $2 trillion.

In a call to discuss results, CEO Sundar Pichai touted Google’s AI offerings as a boon to its core search results. “We are encouraged that we are seeing an increase in search usage among people who are using the AI overviews,” he said.

Revenue was $80.54 billion for the quarter ended March 31, compared with estimates of $78.59 billion, according to LSEG data.

The search firm’s beat on first-quarter revenue was powered by rising demand for its cloud services on the back of increasing adoption of artificial intelligence and steady advertising spending.

Google reported advertising sales rose 13% in the quarter to $61.7 billion. That compares with the average estimate of $60.2 billion, according to LSEG data.

Alphabet is coming off a fourth quarter in which ad sales missed the mark, sending shares tumbling, amid rising competition from Amazon, Facebook and new entrants like TikTok. The latter faces an uncertain future after President Biden signed a bill that would ban the popular app if it is not sold within the next nine to 12 months.

Meanwhile, Google Cloud revenue grew 28% in the first quarter, boosted by a boom in generative AI tools that rely on cloud services to deliver the technology to customers.

Alphabet’s capital expenditures were $12 billion, a 91% rise from a year prior, a figure Gabelli Funds portfolio manager Hanna Howard called “higher than anticipated.”

Still, CFO Ruth Porat said on the call with analysts that she expects such expenditures to be at that level or higher throughout the remainder of the year, as the company spends to build artificial-intelligence offerings.

Despite the surge in capital expenditures, Porat said operating margin in 2024 would be higher than last year, without elaborating.

Google’s cloud services are attractive for venture capital-backed startups developing generative AI technologies due to their pricing and ease of integration with other tools, investors and experts have previously said.

Google has touted its AI-powered chatbot, Gemini, as a panacea for automation, from coding to document creation. The software was widely criticized, however, after it was found to generate historically inaccurate images, including of former US leaders and World War Two-era German soldiers.

Google has said it is aware of the issues and is working to address them.

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Anti-immigrant camp in Dublin ‘not about racism’, residents say

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Anti-immigrant camp in Dublin 'not about racism', residents say

In the nation of ‘Cade Mile Failte’ (a hundred thousand welcomes), the residents of Coolock want to shut the door.

They’ve set up an anti-immigrant camp in the north Dublin suburb, outside a disused factory earmarked to house asylum seekers.

With green, white and orange, they’re staking claim to this ground, their protest tents bedecked with dozens of Irish flags.

Car horns blast every four or five seconds, in response to a large poster reading: “Beep if you support Coolock.”

Their other roadside banners state: “Community concern over 1,000 male migrants being housed in this building” and “Irish lives matter”.

The camp is occupied 24 hours a day, with young men guarding it overnight and residents of all ages during the day.

Two elderly women, two younger women and half a dozen men of various ages were on site when we arrived.

Analysis: Clashes with police as anti-migration protests erupt in Ireland

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The camp was marked with a number of Irish flags

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Sean Crowe, who describes himself as “a concerned parent”, said: “Coolock’s message is we don’t want them here, we just don’t want them, end of story.

“We have our own gangs and trouble going on that we can’t sort out. The place is bad enough as it is.”

“It’s just going to put more of a strain,” the father-of-one added.

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Asked how he would reply to those who describe protesters as “racist”, he replied: “It’s not about racism.

“It’s about the strain it’s going to put on the community and local amenities around the place.

“That’s all it’s about, concerned parents.”

The camp at Coolock is just one of several that have sprung up across the Republic in the past year.

In several places, like Newtownkennedy in County Wicklow, the tension has reached breaking point, with public order police officers deployed.

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“We fear they’re going to do the same thing here,” said one protestor at Coolock, who wished to remain anonymous.

“If the Gardai [Irish police] attempt to shut down our peaceful protest, all hell will break loose here,” she added.

With the sun shining and the smell of meat cooking on their barbecue, it had a community feel about it.

But they’re fiercely critical of their current government and you can sense that the tension isn’t far beneath the surface.

“Eighty percent of them are crossing the border from Northern Ireland and they knew that would happen,” Sean told me.

“It’s time to close the border” are not words you expect to hear, when Ireland fought hard to keep it open.

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‘My misery, your paradise’: The problem with tourism in the Canary Islands

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'My misery, your paradise': The problem with tourism in the Canary Islands

A wave of demonstrations have swept the Canary Islands as locals protested against a tourism model they say has plundered the environment, priced them out of housing and forced them into precarious work.

The seven main Canary Islands are home to 2.2 million people – and welcomed almost 14 million international visitors in 2023, up 13% from the previous year.

The protests were not aimed at individual tourists, activists say, but at the governments that have created a system that skews so much in favour of investors at the expense of local communities.

The tourism industry accounts for 35% of gross domestic product (GDP) in the Canary Islands and local residents who spoke to Sky News agree the islands can’t survive without tourism.

But they are also questioning whether local communities and the environment can survive if things stay the way they are.

What’s the problem? Tourism is a ‘cash cow’ – but not for locals

If you’re looking for what’s behind the wave of protests, you need to look back decades, Sharon Backhouse tells Sky News.

Along with her Canarian husband, she owns GeoTenerife, which runs science field trips and training camps in the Canary Islands and conducts research into sustainable tourism.

Sharon Backhouse, director of GeoTenerife. Pic: GeoTenerife
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Sharon Backhouse, director of GeoTenerife. Pic: GeoTenerife

The tourism model in the Canary Islands hasn’t been updated since before the tourism boom of the 1980s, when the islands were “trying desperately” to attract investment, she explains.

The answer back then was a model that was “incredibly generous” to investors, who only pay 4% tax and can send the profits earned in the Canaries back to the firm’s home country, Ms Backhouse explains.

But the model hasn’t changed.

That’s created a situation where “more and more of these giant, all inclusive resort hotels” are being built, and the proceeds of this “incredible cash cow” aren’t shared equitably with the local population, she says.

“It is absurd to have a system where so much money is in the hands of a very few extremely powerful groups, and is then funnelled away from the Canary Islands,” she says.

“We’re seeing really low salaries, zero-hour contracts and awful working conditions in some of these hotels.”

Ms Backhouse was at the 20 April protest in Tenerife and says she has “never seen anything like it” in terms of Canarians being united for a single cause.

‘My misery, your paradise’

Earlier this year there was a spate of graffiti in Tenerife.

Andy Ward, director of Tenerife Estate Agents, tells Sky News the media coverage of a smattering of “tourists go home” graffiti has been “100x greater than the on-the-ground reality”, where there is little visible animosity.

But there was one spray-painted message that sums up the gulf between Canary Islands residents and the tourists who flock there: “My misery, your paradise”.

More than a third of the population of the Canary Islands – nearly 800,000 people – are at risk of poverty or social exclusion, according to a recent report from the environmental group Ecologists in Action.

The average wage for restaurant staff and cleaners is between €1,050 and €1,300 a month, Mr Ward says, while the cost of renting an apartment can be almost as much.

‘Shanty towns’ in the shadow of luxury

One of the main issues is the dearth of affordable or social housing, Mr Ward says.

“The governments here have completely neglected this need, instead selling land for more hotels and selling land for luxury villas and high-end apartments, which locals are unable to afford.”

What has caused anger is property managers renting out properties to tourists that are “completely inappropriate and inadequate”, such as small apartments in residential buildings.

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Protest against tourism in Canaries on 20 April

The regulations on short-term lets “are a complete mess and a mish-mash”, he says. Landlords aren’t incentivised to let their properties long-term because they must sign up to long leases, and if tenants default on the rent it can take 18 months to evict them.

His views are echoed by Kris Jones, a British citizen who was born in Tenerife, taking over the bar his parents owned in Playa de la Americas, the Drunk’n Duck.

Many hotel employees are forced to live in the multiple motorhome sites that have popped up around the south of the island because they can’t afford anything else, he says.

“Shanty towns” is what Ms Backhouse calls them, built in the shadow of “uber luxury hotels”.

Mr Jones questions why planning permission has been granted to hotels without ensuring their employees will be able to live nearby.

He says the idea the island’s population hates foreign visitors is “utter garbage”.

He stresses that the protests were against the government – not tourists.

“It’s nothing to do with the behaviour of British tourists, and isn’t even part of the agenda at all,” he tells Sky News.

Hunger strike to stop hotels

Protesters say they are having to take increasingly drastic actions to have their voices heard.

Subsequently six members of Canarias Se Agota – which translates to the Canary Islands Are Exhausted – have been on hunger strike since 11 April.

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Activists linked arms in Tenerife on 11 April to mark the start of hunger strike. Pic: Europa Press/AP

As well as demanding a halt to new tourism developments and a limit to the number of visitors, the campaigners want to stop the development of two luxury resorts in Tenerife.

Both developments faced legal hurdles on environmental grounds that had paused construction, but stop work orders were lifted earlier this year.

Campaigners maintain the developments breach environmental laws – claims the developers deny – and have committed to continuing the hunger strike until the government intervenes, despite some strikers needing hospital treatment.

The hunger strikers, who have not been named, were among fellow protesters on the streets of Tenerife on 20 April.

A spokesperson for the campaign said: “If anything happens to any of our comrades… you (Fernando Clavijo – president of the Canary Islands) will have to face the fury of the people.”

The strikers met with the Canary Islands president on 23 April, but their demands were rejected.

Representatives of the strikers said on 26 April the “medical condition of the six is deteriorating, but they are determined to continue” until their demands are met.

Protesters are also demanding “access to respectable housing”, an “eco-tax” and “immediate measures to put an end to the raw sewage discharges into the sea”.

Salvar La Tejita, an environmental organisation which helped organise the mass protest, says: “It is vital to clarify that these protests are not against the tourists or tourism in general, but are against the political class, administrations, hotel chains, and constructors who are jointly responsible for the unsustainable circumstances which Tenerife is now in.

“This platform is not in any way responsible for the graffiti messages ‘Tourists Go Home’ which have been sprayed in and around many tourist resorts.

The environmental cost of tourism

The Canary Islands are a “biodiversity jewel in the Atlantic”, Ms Backhouse says – but they haven’t been fully protected or valued.

Politicians in the past have said the development of the controversial resorts can’t be stopped “just because of a weed”, she says.

“These aren’t just weeds. What they’re actually doing is interfering with an ecosystem which will have difficulty surviving if you plonk a resort right in the middle of it.”

The building of these resorts has an environmental costs as “beautiful landscapes are cemented over”, Ms Backhouse says – and the cost only mounts once they open.

A man plays a conch in a traditional way during a demonstration for a change in the tourism model in the Canary Islands, in Santa Cruz de Tenerife, Spain, April 20, 2024. Pic: Reuters/Borja Suarez
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A man plays a conch in a traditional way during demonstration. Pic: Reuters

“The problem with these resorts is that we just don’t have enough resources in terms of water, what happens to all the rubbish, how is it all recycled.

“Locals are feeling disenfranchised from their spaces because it all becomes tourist territory.

“Towns and villages that locals grew up in or would go on holiday in suddenly are completely unrecognisable.”

What solutions are on the table?

One of the proposals is a tourist tax which would be invested in protecting the environment.

Ms Backhouse says the hotel industry is against it and the government is nervous about it – but GeoTenerife’s research indicates it wouldn’t put tourists off.

“I think the reality is very few people will cancel their holiday because they have to pay a little bit of money that goes towards protecting the landscapes they’re coming to see.”

Hoteliers have proposed instead putting up IGIC, which is similar to VAT, but Ms Backhouse says that isn’t welcomed by campaigners “because again, that just puts the onus on the locals to prop up the system”.

A tourist tax is one part of the answer to protect the environment, but it doesn’t answer the question of job insecurity and unaffordable housing.

Ms Backhouse says it is encouraging to see solutions proposed, but “it’s going to take something far more wide-ranging to put this train on a more sustainable track”.

Impending crackdown on holiday homes

A draft law is expected to be passed this year which would ban newly built properties from becoming short-term rentals and toughen up the rules for existing properties.

It comes as official figures show the number of rental beds on the island reached 220,409 in March this year – an increase of more than 40,000 from the same point in 2023.

Pic: Europa Press/AP
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Pic: Europa Press/AP

Canaries regional tourism chief Jessica de Leon told the Reuters news agency that enforcement support for the islands’ 35 inspectors is key to the success of the new rules.

“We are going to empower [the police] so that they can act when fraudulent behaviour is detected in homes,” she said, adding that the plan could involve 1,300 people, which would include all of the islands’ police forces.

“The first step is to contain the growth, the second is to clean up [existing listings],” said Canaries director of tourism Miguel Rodríguez.

An example of the crackdowns to come occurred on 16 April, when police raided a property in Tenerife after its owner was reported for listing the building’s rooftop as a campsite on Airbnb, offering renters tents for €12 (£10) a night.

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The plans have not proved popular with landlords, who would be forced to comply with the new rules within five years.

“Everything that the government is trying to impose is problematic,” says a spokesperson for Ascav, the Canary Islands Vacation Rental Association, adding it is “the most restrictive” legislation of its kind in Europe.

They believe around 95% of the existing holiday homes that abide by current laws will not be able to meet the new criteria, which includes getting consent from local authorities to open, meeting higher energy classification thresholds, having a minimum surface area and more in a long list of “impossible compliance”.

“The consequences will be immediate,” they warn. “If holiday homes are banned on the islands, visitors who demand this type of accommodation will choose other destinations, Canary Islanders will be even poorer, bars, restaurants, rent a cars, supermarkets, leisure activities, etc. will lose economic activity. Undoubtedly, we all lose.”

Ascav acknowledges “something is going wrong” for the island’s economy, but argues it’s not down to those providing holiday homes, nor the tourists Canarians “love”.

“The message is for our governments, for their passivity, incompetence and lack of planning,” they say.

“They are the ones that have allowed that the resources of tourism has not to been shared with the local population. Locals has been excluded because governments preferred permitting to exploit the territory and tourism to the maximum, without any return for the islands and their inhabitants.

“The solution is to listen to ourselves, to listen to our visitors, to listen and protect to the Canary islanders, to integrate, to plan, to be sustainable, to grow with, not at the expense of, to be responsible for the territory and the well-being of its people, to diversify, to ensure the quality of the destination.

“Our problems have to be resolved by politicians, but they lack will and predisposition, that’s why we are fed up.”

What have politicians said?

The islands’ president said the day before the 20 April protests that he felt “proud” the region is a leading Spanish tourism spot, but acknowledged more controls are needed.

“We can’t keep looking away. Otherwise, hotels will continue to open without any control,” Fernando Clavijo told a news conference.

Two days after the protest, Mr Clavijo posted on X saying: “What happened last Saturday in the streets of Canarias leaves a message that we share. Canarias has to review its model, where we want to go.

“It had to be done during the pandemic, but it is a challenge that we assumed and on which we are already working with the councils, with the city councils and that we must face as a whole in society.”

He has called a meeting of island presidents and Canary Island administrators on 30 April in the hope of finding a solution.

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Family protests outside suspected serial killer’s lair as they wait for news of teenager who went missing 12 years ago

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Family protests outside suspected serial killer's lair as they wait for news of teenager who went missing 12 years ago

The family of a missing high school student who may have been the first victim of a suspected serial killer in Mexico City have protested at the site where bones were found last week.

The bones were discovered with the belongings of at least six women, police said, and Amairany Roblero’s relatives have been told that evidence was found relating to her 2012 disappearance.

Ms Roblero was 18 when she vanished and, as is often the case in Mexico, her family was left to investigate her disappearance with little help from prosecutors.

Family friend Alejandra Jimenez said: “The prosecutors had the case file but they didn’t ever give any results to her parents.”

Instead, her parents printed flyers and gave them out near her school – the last place she was seen – but they had “nothing, nowhere to start, nor any directions to the end”, Ms Jimenez added.

Friends and family holds images of women who have gone missing, during a protest outside an apartment rented by a suspected serial killer in Mexico. Pic: AP
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Friends and family holds images of women who have gone missing. Pic: AP

A suspect, identified only by his first name, Miguel, was detained by neighbours and police last week after he is alleged to have killed a seventh young woman.

He is accused of waiting for a woman to leave her apartment and then rushing inside to sexually abuse and strangle her 17-year-old daughter.

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The woman returned to the apartment to see the suspect leaving and she was slashed across her neck before he ran off.

She survived but her daughter died.

Investigators searched a room rented by the suspect and found bones, mobile phones and ID cards belonging to several women in the same block, thought to be mementos.

Miguel is awaiting trial on charges of murder and attempted murder relating to the most recent victims.

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City prosecutor Ulises Lara insisted the suspect was difficult to catch because “he showed no signs of violent or aggressive behaviour in his daily life”.

Ms Roblero’s family and friends were not accepting this, however.

“They (authorities) have all the means to look for missing people,” Ms Jimenez said. “Instead of focusing on their political campaigns, they should help all the women who are looking for their children.”

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Juan Carlos Gutierrez, a lawyer representing the family of another victim, was also frustrated, asking why no investigation had never been launched in that case, despite missing person reports being filed in 2015.

Ms Jimenez said Ms Roblero’s family had not been told which of the items or remains in the apartment had been linked to her, adding: “This is wearing her parents down physically, mentally.”

Some 2,580 women were murdered in Mexico in 2023, according to the country’s National Public Security System but poorly funded and badly trained prosecutors have failed to stop serial killers over the years.

In 2021 a serial killer in Mexico City killed 19 people but their bodies were only found, buried at his house, after the wife of a police commander became one of the victims.

In 2018 another serial killer in Mexico City murdered at least 10 women and was only stopped after he was seen pushing a dismembered body down the street in a pram.

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