Technology
Homeless, suicidal, down to last $1,000: Celsius investors beg bankruptcy judge for help
Celsius Network, once a titan of the crypto lending world, is in bankruptcy proceedings and facing down claims that it was running a Ponzi scheme by paying early depositors with the money it got from new users. Some of the 1.7 million customers ensnared by the alleged fraud are now directly pleading with the Southern […]
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Apple chipmaker TSMC warns Taiwan-China war would make everybody losers
A man walks past TSMC’s logo at the company’s headquarters in Hsinchu, Taiwan. Sam Yeh | AFP | Getty Images If China were to invade Taiwan, the most-advanced chip factory in the world would be rendered “not operable,” TSMC Chair Mark Liu said in an English-language interview with CNN this week. In the undated interview, […]
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Robinhood’s crypto division fined $30 million by New York financial regulator
People wait in line for t-shirts at a pop-up kiosk for the online brokerage Robinhood along Wall Street after the company went public with an IPO earlier in the day on July 29, 2021 in New York City. Spencer Platt | Getty Images The New York State Department of Financial Services announced on Tuesday it […]
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Instagram boss Adam Mosseri to move to London as Meta tries to counter TikTok’s rise
Instagram CEO Adam Mosseri Elizabeth Frantz | Reuters Instagram chief Adam Mosseri is relocating from San Francisco to London, in a bid to boost parent company Meta’s ambition to lure users away from TikTok as it grapples with a slump in users. Mosseri will move to London later this year, and the move will be […]
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Pinterest shares jump after Elliott confirms it’s the company’s largest investor
Shares of Pinterest jumped 14% Tuesday morning, a day after activist investor Elliott Management confirmed it’s Pinterest’s largest investor. The move comes despite Pinterest’s disappointing second-quarter earnings on Monday evening. “Pinterest is a highly strategic business with significant potential for growth, and our conviction in the value-creation opportunity at Pinterest today has led us to […]
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VMware veteran takes helm of pre-IPO software company Cohesity, though market debut is on hold
Sanjay Poonen, former COO, VMware Scott Mlyn | CNBC Cohesity, a startup selling software to back up corporate data, said Tuesday it hired former VMware operating chief Sanjay Poonen to be its next CEO, as the company challenges incumbents like Dell and marches toward an eventual IPO. Poonen told CNBC that he received a call […]
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Chinese e-commerce giant Alibaba teams up with Tesla rival Xpeng on tech for driverless cars
XPeng is still focused in boosting the sales of its electric cars. But it has been focusing on building out future businesses in flying cars and robotics. Qilai Shen | Bloomberg | Getty Images Chinese e-commerce giant Alibaba and electric vehicle startup Xpeng are opening a computing center to train software for driverless cars, the […]
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Uber reports another big loss but beats on revenue, shares pop 10%
Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., speaks during an interview in San Francisco, on Tuesday, Dec. 14, 2021. David Paul Morris | Bloomberg | Getty Images Uber reported a second-quarter loss on Tuesday but beat analyst estimates for revenue. Shares of Uber popped 10% in premarket trading. Here are the key numbers: […]
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Pinterest climbs on user numbers and Elliott investment even as financials disappoint
A woman walks past sign at the headquarters of Pinterest in the South of Market neighborhood of San Francisco. Smith Collection | Gado | Archive Photos | Getty Images Pinterest shares jumped on better-than-expected user numbers even as earnings and revenue missed estimates and the company gave weak guidance for the third quarter. Activist investor Elliott […]
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SEC charges 11 people in alleged $300 million crypto Ponzi scheme
A flag outside the U.S. Securities and Exchange Commission headquarters in Washington, D.C., U.S., on Wednesday, Feb. 23, 2022. Al Drago | Bloomberg | Getty Images On Monday, the Securities and Exchange Commission said it charged 11 people for their roles in creating and promoting an allegedly fraudulent crypto pyramid and Ponzi scheme that raised […]
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