Internet
Amazon stock has lost nearly all of its gains from the pandemic
Andy Jassy, chief executive officer of Amazon.Com Inc., during the GeekWire Summit in Seattle, Washington, U.S., on Tuesday, Oct. 5, 2021. David Ryder | Bloomberg | Getty Images Shares of Amazon have now given up nearly all of their gains from the pandemic. If the stock dips to $2,170 apiece, slightly below where it closed […]
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Britain, EU say Russia behind cyberattack against satellite internet modems in Ukraine
Michael Bocchieri | Getty Images Russia was behind a massive cyberattack against a satellite internet network which took thousands of modems offline at the onset of the war in Ukraine, Britain and the European Union said on Tuesday. The digital assault against Viasat’s KA-SAT network in late February took place just as Russian armor pushed […]
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Amazon fires two employees tied to Staten Island union effort
Workers stand in line to cast ballots for a union election at Amazon’s JFK8 distribution center, in the Staten Island borough of New York City, U.S. March 25, 2022. Brendan Mcdermid | Reuters Amazon has fired two employees tied to an organizing campaign that resulted in the company’s first unionized warehouse in the U.S. Mat […]
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A $3.5 billion bet on bitcoin becoming a ‘reserve currency’ for crypto is being put to the test
Pedestrians walk past a display of cryptocurrency Bitcoin on February 15, 2022 in Hong Kong, China. Anthony Kwan | Getty Images A multibillion-dollar bet that bitcoin can act as a “reserve currency” for the crypto economy is already being tested as UST, a controversial stablecoin, struggles to maintain its $1 peg. UST dropped close to […]
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Uber CEO tells staff company will cut down on costs, treat hiring as a ‘privilege’
Uber will cut back on spending and focus on becoming a leaner business to address a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After earnings, I spent several days meeting investors in New York and Boston,” Khosrowshahi said in the email, which was sent out late […]
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Employees everywhere are organizing. Here’s why it’s happening now
Senator Bernie Sanders, an Independent from Vermont, left, speaks next to Christian Smalls, founder of the Amazon Labor Union (ALU), during an ALU rally in the Staten Island borough of New York, U.S., on Sunday, April 24, 2022. Victor J. Blue | Bloomberg | Getty Images After years of declining influence, unions are having a […]
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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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