Internet
Google says it’s raising employee pay through performance review revamp
Sundar Pichai, Google CEO David Paul Morris | Bloomberg | Getty Images Google is overhauling its performance evaluation process, implementing changes that will result in increased salaries, as the company tries to ease tension between employees and leadership on the issue of compensation. Starting this week, Google is using a new process for performance reviews […]
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Tech companies racked up over $17 billion in losses on equity investments in the first quarter
An electric Amazon delivery van from Rivian cruises down the street with the Hollywood sign in the background. Amazon The tech sell-off of 2022 accelerated in the past couple weeks, with first-quarter earnings reports highlighting challenges like inflation, supply chain shortages and the war in Ukraine. For some tech leaders, the market swoon has created […]
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Facebook caused chaos to put pressure on Australian lawmakers, report says
The Wall Street Journal reported that Facebook purposely used a broad algorithm to block news in Australia last year, causing pages for charities, emergency services and hospitals to be affected. Rafael Henrique | SOPA Images | LightRocket | Getty Images Facebook used an algorithm it knew would affect pages beyond those of publishers in Australia […]
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Union leader slams Amazon’s labor practices at Senate hearing
Christian Smalls, founder of the Amazon Labor Union (ALU), speaks during a Senate Budget Committee hearing in Washington, D.C., U.S., on Thursday, May 5, 2022. The hearing is titled “Should Taxpayer Dollars Go to Companies that Violate Labor Laws?” Eric Lee | Bloomberg | Getty Images Chris Smalls, a former Amazon worker and leader of […]
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Binance is backing Elon Musk’s Twitter acquisition — here’s why it’s a big deal for crypto enthusiasts
Binance is the world’s largest crypto exchange, handling billions of dollars in trading volumes on a daily basis. STR | NurPhoto via Getty Images Bitcoin exchange Binance’s move to participate in Elon Musk’s $44 billion takeover of Twitter could boost digital currency evangelists’ hopes for the development of a more “decentralized,” crypto-friendly social media platform. […]
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Elon Musk expected to serve as temporary Twitter CEO after deal closes
Elon Musk talks at the Automotive World News Congress at the Renaissance Center in Detroit, Michigan. Rebecca Cook | Reuters Elon Musk is expected to serve as a temporary CEO of Twitter for a few months after he completes his $44 billion takeover of the social media company, sources told CNBC’s David Faber. An SEC […]
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Shopify stock down 13% after earnings miss, $2.1 billion acquisition of logistics start-up
An employee works at Shopify’s headquarters in Ottawa, Ontario, Canada. Chris Wattie | Reuters Shares of Shopify plunged more than 13% in premarket trading on Thursday after the company reported first-quarter results that missed analysts’ estimates, and said it will acquire logistics start-up Deliverr for $2.1 billion in cash and stock. Shopify posted adjusted earnings […]
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Chinese tech giant NetEase launches first gaming studio in U.S. in international push
NetEase’s U.S. game studio called Jackalope Games highlights the Chinese tech giant’s aggressive interntational push as the domestic game market faces headwinds. Xing Yun | Costfoto | Future Publishing | Getty Images Chinese gaming giant NetEase has launched its first fully-owned gaming studio in the U.S. as it ramps up international expansion against the backdrop […]
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EBay and Etsy drop on weak guidance as e-commerce crunch continues
An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn. Victor J. Blue/Bloomberg via Getty Images Etsy and eBay reported better-than-expected first-quarter results after the bell on Wednesday, but the companies gave weak guidance for the current quarter that suggests the e-commerce sector is cooling off after a […]
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France becomes first big European nation to grant crypto giant Binance regulatory approval
Binance CEO Changpeng Zhao gave a keynote at a Paris crypto industry event in April 2022 to debut a new accelerator program for so-called “Web3” start-ups. Benjamin Girette | Bloomberg | Getty Images Binance has been granted approval from regulators to operate its cryptocurrency exchange in France. The company is now listed as a registered […]
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