Technology
Google’s antitrust ruling has experts looking to 25-year-old Microsoft case for answers
Google CEO Sundar Pichai testifies before the House Judiciary Committee at the Rayburn House Office Building on December 11, 2018 in Washington, DC. Alex Wong | Getty Images In ruling Monday that Google has held a monopoly in internet search, U.S. judge Amit Mehta invoked the company at the center of the most famous tech antitrust […]
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SoftBank swings back to gains at Vision Fund tech arm, announces up to $3.4 billion share buyback
Workers on the stage as they prepare for a SoftBank Group Corp. news conference in Tokyo, Japan, on Thursday, June 27, 2024. Toru Hanai | Bloomberg | Getty Images SoftBank Group booked a 1.9 billion yen ($12.9 million) investment gain on its Vision Fund tech investment arm in the company’s fiscal first quarter ended in […]
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Sony beats first-quarter earnings estimates as profit jumps 10%
Sony’s PlayStation 5. Thiago Prudencio | Lightrocket | Getty Images Sony reported a 10% jump in operating profit in the fiscal first quarter, beating analyst expectations. Here’s how Sony did in the June quarter versus LSEG consensus estimates: Revenue: 3.01 trillion yen ($20.5 billion) versus 2.8 trillion yen expected. That marked a 2% rise from the same […]
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Elon Musk’s support for Trump pushes a corporate customer away from Tesla
Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul | Pool | Via Reuters European drugstore giant Rossmann announced Tuesday it will no longer buy Tesla‘s electric vehicles for its fleet, effective immediately, citing CEO Elon Musk’s pro-Trump political […]
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Reddit reports better-than-expected results for second quarter as digital ad market improves
Reddit CEO Steve Huffman hugs mascot Snoo as Reddit begins trading on the New York Stock Exchange on March 21, 2024. Timothy A. Clary | AFP | Getty Images Reddit reported second-quarter results on Tuesday that topped analysts’ estimates. Here are the key numbers: Loss per share: 6 cents vs. the loss of 33 cents […]
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Elon Musk’s X sues advertisers over alleged ‘massive advertiser boycott’ after Twitter takeover
Jakub Porzycki | Nurphoto | Getty Images Elon Musk’s social media platform X has sued a group of advertisers, alleging that a “massive advertiser boycott” deprived the company of billions of dollars in revenue and violated antitrust laws. The company formerly known as Twitter filed the lawsuit Tuesday in a federal court in Texas against […]
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Bitcoin rises as crypto and other risk assets look to rebound from sell-off
Cryptocurrencies on Tuesday recovered some of the previous day’s losses after bitcoin briefly fell under $50,000 for the first time in six months. The price of the flagship cryptocurrency was last higher by 4% at $55,342.00, according to Coin Metrics. Ether, rose more than 2% to $2,452.22. However, stocks tied to the price of bitcoin […]
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Crypto ETFs get first major test after $370 billion market sell-off
Omar Marques | Lightrocket | Getty Images Bitcoin and ether are gaining back ground after falling to their lowest level in six months on Monday in the first major test of the recently launched crypto exchange-traded funds. As of early Monday, roughly $370 billion dollars had been wiped off the market cap of all digital […]
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China launches its rival to Elon Musk’s Starlink internet satellites
The Chang’e 6 lunar probe and the Long March-5 Y8 carrier rocket combination sit atop the launch pad at the Wenchang Space Launch Site in Hainan province, China May 3, 2024. Eduardo Baptista | Reuters China on Tuesday launched its first batch of internet satellites that will form part of a constellation it hopes will […]
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Bitcoin miner Core Scientific rides AI from bankruptcy to $6.7 billion partnership in eight months
In January, U.S. bitcoin miner Core Scientific was bankrupt and battling angry lenders. Since its return to the stock market that month, the share price is up 140% as the company aggressively goes after building a business in artificial intelligence. On Tuesday, the mining firm announced an expanded deal worth $6.7 billion with CoreWeave, an Nvidia-backed startup that’s one […]
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