Internet
China’s $370 billion tech giant Tencent could post its first revenue decline on record
People walk past a Tencent sign at the company headquarters in Shenzhen, Guangdong province, China August 7, 2020. David Kirton | Reuters Tencent could post its first year-on-year revenue decline on record when it reports second-quarter earnings on Wednesday, according to analysts, as a Covid-induced slowdown in the Chinese economy and continued challenges in the […]
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Chinese food delivery giant Meituan tanks 9% after Tencent reportedly plans to divest $24 billion stake
Meituan is one of China’s largest food delivery companies. Delivery drivers can be seen zipping around Chinese cities. Tencent first backed rival Dianping in 2014 which merged with Meituan to form the current company. Jade Gao | AFP | Getty Images Shares of Chinese food delivery giant Meituan plunged 9% on Tuesday after Reuters reported […]
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Apple reportedly plans to put ads in more apps on your iPhone
iPhone 13 Pro Source: Apple Inc. Apple may expand its advertising to more of its first-party apps on the iPhone in an effort to boost revenue, according to Bloomberg. The company generates about $4 billion in annual revenue from its ad business but wants to grow the segment into the “double digits,” according to the […]
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Unity shares drop 7% after board rejects acquisition by AppLovin
Unity shares tumbled 7% on Monday, after the video game software company’s board rejected a bid to be acquired by AppLovin. Unity announced on Monday that AppLovin’s $20 billion bid was “not in the best interests of Unity shareholders.” AppLovin offered to buy Unity for $58.85 per share last week, which was a premium of […]
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Andreessen Horowitz announces plans to invest in Adam Neumann’s new residential real estate company
Adam Neumann, CEO of WeWork. Eduardo Munoz | Reuters Venture capital firm Andreessen Horowitz announced Monday that it plans to invest in Adam Neumann’s new residential real estate company called Flow. Neumann is the founder and former CEO of the coworking space company WeWork, but he left in 2019 after the company botched its plans […]
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Chinese tech giants share details of their prized algorithms with top regulator in unprecedented move
China has introduced rules that aim to govern how technology platforms use recommendation algorithms. It is part of a broader push from Beijing to more closely regulate China’s domestic technology sector. Thomas White | Reuters Chinese technology giants shared details of their prized algorithms with the country’s regulators in an unprecedented move, as Beijing looks […]
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Popular meditation app maker Calm reportedly lays off 20% of employees
Edward smith | Getty Images The popular meditation startup Calm, known for its wellness app of the same name, has laid off 20% of its staff, according to The Wall Street Journal, which viewed a memo sent by CEO David Ko to employees on Thursday. Roughly 90 out of 400 Calm employees were laid off, […]
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Ether surges 13% to a two-month high after ethereum inches closer to long-awaited upgrade
Omar Marques | LightRocket | Getty Images Ether soared to a two-month high after developers successfully completed a final dress rehearsal for a pivotal upgrade expected to happen next month. The world’s second-biggest cryptocurrency reached a price above $1,927 at around 8:20 a.m. ET Thursday, according to data from CoinMetrics. That’s its highest level since […]
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Hackers have stolen $1.4 billion this year using crypto bridges. Here’s why it’s happening
Mining the Worlds Second-most-valuable Cryptocurrency at Evobits I.T SRL An engineer inspects Sapphire Technology Ltd. AMD graphics processing units (GPU) at the Evobits crypto farm in Cluj-Napoca, Romania, on Wednesday, Jan. 22, 2021. The worlds second-most-valuable cryptocurrency, Ethereum, rallied 75% this year, outpacing its larger rival Bitcoin. Photographer: Akos Stiller/Bloomberg via Getty Images Photographer: Akos […]
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Deliveroo first-half losses widen as food delivery firm plans exit from the Netherlands
A Deliveroo rider near Victoria station on March 31, 2021 in London, England. Dan Kitwood | Getty Images Losses at British meal delivery firm Deliveroo swelled in the first half of 2022 while revenue growth slowed dramatically, as the disappearance of pandemic restrictions and a rise in the cost of living dented demand for online […]
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