Breaking News: Technology
Tech is hitting the brakes on hiring, but that doesn’t mean a broader slowdown is coming
San Francisco Compassandcamera | Getty Images U.S. employers added more jobs than expected in April amid a tight labor market, the Bureau of Labor Statistics reported Friday. But the tech sector, which boomed during the pandemic, is showing signs of contraction. Facebook parent company Meta is pausing hiring and scaling down some recruitment plans, Insider […]
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Controversial stablecoin UST — which is meant to be pegged to the dollar — plummets below 50 cents
Bitcoin, the world’s largest cryptocurrency, has fallen over 50% since setting an all-time high of nearly $69,000 in November. Dan Kitwood | Getty Images The two main tokens from embattled crypto project Terra are now in freefall. UST, a so-called stablecoin that’s meant to maintain a $1 peg, plunged to as low as 31 cents […]
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Roblox shares sink on disappointing revenue and wider-than-expected loss
David Baszucki, Co-Founder and CEO, Roblox, speaks during the Milken Institute Global Conference on May 2, 2022 in Beverly Hills, California. Patrick T. Fallon | AFP | Getty Images Roblox shares fell about 10% in extended trading on Tuesday after the kids’ video game company issued first-quarter results that trailed analysts’ estimates. Here’s how the […]
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Coinbase revenue drops 27% from a year ago, stock slides
Monitors display Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Wednesday, April 14, 2021. Michael Nagle | Bloomberg | Getty Images Coinbase reported first-quarter earnings that missed analyst estimates after the bell on Tuesday. Shares fell as much as 19% in extended trading, before rebounding. […]
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Elon Musk says he would lift Twitter ban on Donald Trump after deal closes
Musk’s plan to buy Twitter has worried policymakers around the world. Joe Skipper | Reuters Elon Musk said Tuesday he would reverse Twitter’s ban on former President Donald Trump if his acquisition goes through. “Permanent bans should be extremely rare and really reserved for accounts that are bots, or scam, spam accounts… I do think […]
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Apple discontinues the last iPod model
Steve Jobs at Macworld in 2004. Getty Images Apple is discontinuing the iPod touch, the last version of the portable music player it still sells. The announcement ends an era of digital music that Apple kicked off when it first introduced the iPod in 2001, boasting of its ability to hold “up to 1,000 CD-quality […]
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Netflix could introduce ads, crack down on password sharing by the end of this year, source says
Reed Hastings, co-founder, chairman, and co-chief executive officer of Netflix, arrives for the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, U.S. July 6, 2021. Brian Losness | Reuters Netflix could roll out its lower-price, ad-supported tier as early as this year, a source familiar with the matter told CNBC. Netflix […]
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Citadel founder Ken Griffin wins Blue Origin spaceflight auction, donating two seats to NYC teachers
Ken Griffin, Founder and CEO, Citadel (L) and Blue Origin New Shepard rocket lifts off (R) Reuters Ken Griffin, billionaire founder and CEO of hedge fund Citadel, placed the winning $8 million bid in an auction Monday for a seat on a spaceflight with Jeff Bezos’ Blue Origin. Bezos’ company donated two seats on its […]
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Virgin Orbit is assembling a fleet of 747 jets to launch more rockets into space
The modified 737 aircraft “Cosmic Girl” lifts off from Mojave Air and Space Port in California carrying a LauncherOne rocket on June 30, 2021. Virgin Orbit Virgin Orbit is assembling a fleet of modified 747 jets, the company announced Tuesday, ordering two new modified cargo airframes to help launch more rockets into space. The company […]
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Tech giants lost more than $1 trillion in value in the last three trading days
The world’s largest technology companies have shed over $1 trillion in value in just three trading sessions. Stocks at large have sold off since the Federal Reserve raised its benchmark interest rate on Wednesday, but technology has endured more pain than other sectors of the economy. Investors now have less interest in what drove business […]
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