Internet
SoftBank posts a $21.6 billion quarterly loss on its Vision Fund, one of the highest in its history
SoftBank’s Vision Fund, the brainchild of the company’s founder Masayoshi Son, has faced a number of headwinds including a slump in technology stocks as a result of rising interest rates, a tough China market and geopolitics. Kentaro Takahash | Bloomberg | Getty Images SoftBank posted one of its biggest losses at its Vision Fund investment […]
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Twitter-Musk drama escalates as both sides hurl claims of bad behavior in new filings
The Twitter-Elon Musk saga continued this week, as the two parties traded barbs in legal filings ahead of a five-day trial that’s scheduled to start Oct. 17. Newly released legal documents from lawyers representing Musk in a countersuit against Twitter claim the social media company engaged in a scheme to “mislead investors” by providing false […]
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Hacked crypto startup Nomad offers a 10% bounty for return of funds after $190 million attack
Over $2 billion has been stolen from cross-chain bridges so far this year, according to crypto analysis firm Chainalysis Jakub Porzycki | Nurphoto via Getty Images Crypto company Nomad said it’s offering hackers a bounty of up to 10% to retrieve user funds after losing nearly $200 million in a devastating security exploit. Nomad pleaded […]
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DoorDash stock pops 18% after posting record orders
DoorDash delivery person Source: DoorDash DoorDash reported second-quarter results after the bell on Thursday that beat Wall Street’s revenue expectations but showed a greater loss per share than anticipated. Shares of DoorDash popped 18% in after-hours trading. Here’s how the company did: Loss per share: 72 cents vs. 41 cents expected by analysts, according to […]
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Alibaba shares jump 7% after quarterly earnings beat expectations
Alibaba has faced growth challenges amid regulatory tightening on China’s domestic technology sector and a slowdown in the world’s second-largest economy. But analysts think the e-commerce giant’s growth could pick up through the rest of 2022. Kuang Da | Jiemian News | VCG | Getty Images Alibaba reported fiscal first-quarter earnings on Thursday that beat […]
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Pelosi’s Taiwan trip puts the world’s biggest chipmaker back in the spotlight of U.S.-China rivalry
Taiwan Semiconductor Manufacturing Company (TSMC) is the biggest contract chipmaker in the world. But it has been thrust in the middle of U.S.-China geopolitical tensions. logo displayed on the screen. Rafael Henrique | Sopa Images | Lightrocket | Getty Images U.S. House Speaker Nancy Pelosi may have left Taiwan but the visit has cast a spotlight […]
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Why Amazon’s digital ad business grew faster than all its rivals in the second quarter
The Amazon logo displayed on a smartphone and a PC screen. Pavlo Gonchar | LightRocket via Getty Images Social media giants Meta and Snap are telling investors that the online advertising market is experiencing some turbulence due to the economic slowdown. Amazon is sending a very different message. While the bulk of its business comes […]
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Amazon warehouses face expanded probes into safety hazards as investigators visit three more sites
A worker assembles a box for delivery at the Amazon fulfillment center in Baltimore, Maryland, U.S., April 30, 2019. Clodagh Kilcoyne | Reuters Federal officials are sharpening their focus on Amazon’s workplace safety hazards. Investigators from the Occupational Safety and Health Administration, which is part of the Labor Department, visited Amazon sites near Albany, New […]
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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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