Technology
BMW opens $2.2 billion EV plant in China as it ramps up challenge to Tesla, domestic players
German automaker BMW is ramping up production of electric vehicles in China as it looks to catch up with leaders Tesla and domestic rivals like BYD. The new plant in Shenyang is BMW’s third in China and brings its annual production capacity in the country to 830,000 cars. Anadolu Agency | Getty Images BMW has […]
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Amazon to invest $23 million to increase Seattle’s affordable housing
Grand Street Commons, a project in Seattle supported by the Amazon Housing Equity Fund Amazon Amazon said Thursday that it’s giving minority-led organizations $23 million to build and preserve more than 568 affordable homes in Seattle, a step to ease the local housing crisis. Amazon Housing Equity Fund, which emphasizes aiding households that earn 30% […]
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Intel warns Ohio factory could be delayed because Congress is dragging its feet on funding
Patrick Gelsinger, Intel CEO, at the WEF in Davos, Switzerland on May 23rd. 2022. Adam Galica | CNBC A large chip factory currently in the early stages of being built outside of Columbus, Ohio, could see its scope scaled back or construction delayed depending on what Congress does with the CHIPS Act, Intel said in […]
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Netflix lays off 300 more employees as revenue growth slows
Netflix’s revelation that it lost 200,000 subscribers in the first quarter put further pressure on an already beleaguered tech sector, but top tech analyst Mark Mahaney believes the current weakness in the sector presents several opportunities for investors. Aaronp/bauer-griffin | Gc Images | Getty Images Netflix is laying off around 300 more employees across the company. […]
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Republican draft bill would tighten rules for finance firms using customer information
Rep. Patrick McHenry, a Republican of North Carolina and ranking member of the House Financial Services Committee, speaks during a hearing in Washington, D.C. Andrew Harrer | Bloomberg | Getty Images A new draft bill from House Financial Services Ranking Member Patrick McHenry, R-N.C., lays the groundwork for how the GOP will tackle financial data […]
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Instagram testing new ways for teens to verify they’re 18 years old, including video selfies
A person using Instagram. Lorenzo Di Cola | NurPhoto via Getty Images Instagram announced Thursday that it’s testing new options in the U.S. to verify that users are 18 years old. To address the concerns of lawmakers and parents, Instagram is requiring users who attempt to edit their age from under 18 to 18 or […]
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Can media companies weather a recession? Executives say they’re in stronger shape this time
Delegates wait in line at Cannes Lions International Festival of Creativity, Cannes, France, June 2019 Cannes Lions While media executives are meeting with advertising leaders this week over glasses of rose at the annual Cannes Lions International Festival of Creativity, they can’t help but talk about the disconnect between hanging out with celebrities on yachts […]
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Gas at $5 tips some U.S. rideshare drivers to wrap cars in ads
A man applies an advertising wrap to a car in Sandy Springs, Ga. John Amis | AP When Duana Malcolm had her blue Hyundai Sonata sedan ‘wrapped’ as a mobile advertising board, the part-time delivery driver did not expect to make an extra $200 per month. Malcolm is one of the many rideshare drivers looking […]
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Chinese influencers must now have a qualification to talk about certain topics like law and medicine
Chinese regulators have been looking to clean up the country’s popular livestreaming industry. This includes rules around what online influencers can and can’t say and the topics that are off limits. Costfoto | Future Publishing | Getty Images Online influencers in China must now have a qualification to talk about certain topics such as law […]
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Watch Part 2 of Jim Cramer’s full interview with Meta CEO Mark Zuckerberg
CNBC’s Jim Cramer spoke with Meta CEO Mark Zuckerberg on Wednesday’s episode of “Mad Money.” Source
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