Internet
The luna cryptocurrency has been resurrected after its $40 billion collapse. It’s already crashing
Cryptocurrency markets have seen a steep sell-off after the collapse of controversial blockchain project Terra. Dan Kitwood | Getty Images A new version of the collapsed luna cryptocurrency is already live on major exchanges — and it’s gotten off to a bad start. Last week, supporters of the Terra blockchain project voted to revive luna […]
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Google hit by second UK antitrust probe into online ad dominance
The entrance to Google’s U.K. offices in London. Olly Curtis | Future Publishing | via Getty Images The U.K.’s competition regulator has opened a fresh investigation into Google, taking aim at the company’s role in the advertising technology market. It’s the second major antitrust probe to target Google’s ad practices in the U.K. The Competition […]
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Rapid grocery delivery boom comes to a grinding halt as Getir, Gorillas slash jobs
Fears of an impending recession are forcing rapid grocery delivery companies to slam the brakes on growth. This week, two of the largest instant grocery apps, Getir and Gorillas, announced decisions to lay off hundreds of employees. Another firm, Zapp said it is proposing redundancies in its U.K. team. Getir reportedly told staff Wednesday that […]
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As Klarna cuts jobs, rival fintechs say they’re recruiting for hundreds of roles
Nikolay Storonsky, founder and CEO of Revolut. Harry Murphy | Sportsfile for Web Summit via Getty Images Not all fintech unicorns are cutting jobs. After Klarna announced plans to lay off 10% of its workforce Monday, some rival fintechs are making it clear that they have no intention of cutting jobs or freezing hiring. Revolut, […]
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China wants 10 small Pacific nations to sign on to ‘game-changing’ security agreement
The Red Falcon Air Demonstration Team of the People’s Liberation Army Air Force performs over a Chinese national flag on September 30, 2021 in China. China wants 10 small Pacific nations to endorse a sweeping agreement covering everything from security to fisheries in what one leader warns is a “game-changing” bid by Beijing to wrest […]
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Amazon CEO Andy Jassy says he’s focused on returning to ‘healthy’ level of profitability
Amazon CEO Andy Jassy speaks during the GeekWire Summit in Seattle on Oct. 5, 2021. David Ryder | Bloomberg | Getty Images Amazon CEO Andy Jassy said the company is focused on returning to a “healthy level of profitability” after slowing retail sales and rising costs ate into its latest quarterly earnings. “We have effectively […]
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Twitter shareholders vote to boot Silver Lake co-CEO Durban, a long-time Musk backer, from board
Musk would have been appointed to Twitter’s board on Saturday, but the world’s richest man informed the company on the day that he would not, in fact, be taking the board seat. Andrew Burton | Getty Images News | Getty Images Twitter shareholders on Wednesday voted to boot Egon Durban, the co-CEO and managing director […]
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Terra backers vote to revive luna — but not UST — after $60 billion crypto collapse
The UST stablecoin plunged below its intended $1 peg in May, causing panic in the crypto market. Gabby Jones | Bloomberg | Getty Images Backers of Terra have approved a plan to revive the failed cryptocurrency venture — without the controversial stablecoin that helped trigger its stunning demise two weeks ago. “With overwhelming support, the […]
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Nearly one in five Amazon delivery drivers suffered injuries in 2021, study finds
Amazon driver Shawndu Stackhouse delivers packages in Northeast Washington, D.C., on Tuesday, April 6, 2021. Tom Williams | CQ-Roll Call, Inc. | Getty Images Amazon’s delivery operations are suffering from an “escalating injury crisis,” driven largely by punishing quotas and pressure to ferry packages as quickly as possible, according to a new study. Nearly one […]
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Uber to expand in Italy through deal with the country’s largest taxi dispatcher
For years, Uber has faced opposition from taxi drivers in Italy. Now, the company is signing a partnership with the country’s largest taxi dispatch service. Alvaro Padilla | Anadolu Agency | Getty Images Uber has signed a partnership with IT Taxi, the largest taxi dispatch service in Italy, in a tie-up aimed at boosting the […]
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