Internet
Chinese ride-hailing giant Didi surges 50% after report that regulators are ending probes
Budrul Chukrut | LightRocket | Getty Images Shares of Chinese ride-hailing giant Didi surged more than 50% in pre-market trade in the U.S. on Monday after the Wall Street Journal reported that regulators are concluding investigations into the company. The WSJ report said authorities would lift a ban on Didi adding new users as early […]
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Crypto enthusiasts want to remake the internet with ‘Web3.’ Here’s what that means
Some crypto enthusiasts want a new kind of internet that yanks power away from Big Tech and hands it to people. Can they succeed? Remember AOL chatrooms and downloading songs through Napster? The internet has come a long way.Today, it’s dominated by Meta, Google and a handful of other tech giants whose services have made […]
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New York lawmakers pass bill limiting Amazon’s use of worker productivity quotas in warehouses
A worker sorts out parcels in the outbound dock at Amazon fulfillment center in Eastvale, California on Tuesday, Aug. 31, 2021. Watchara Phomicinda | MediaNews Group | The Riverside Press-Enterprise via Getty Images New York state lawmakers on Friday approved a bill targeting Amazon’s use of productivity quotas in warehouses, the latest sign that public […]
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Amazon to shut down Kindle store in China
Amazon Kindle Getty Images Amazon will shut its Kindle ebook store in China next year, marking the latest retreat by a U.S. tech giant in the market. Kindle users in China will no longer be able to purchase new books after the ebook shop closes on June 30, 2023, Amazon announced on its Weibo account […]
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Amazon is ‘obstructing’ probe into deadly warehouse collapse, House committee says
The site of a roof collapse at an Amazon.com distribution center in Edwardsville, Illinois. Drone Base | Reuters Members of the House Oversight Committee are alleging that Amazon is “obstructing” the panel’s investigation into a deadly warehouse collapse at one of the company’s facilities in Illinois. In a Wednesday letter addressed to Amazon CEO Andy […]
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Microsoft lowers fourth-quarter guidance, citing unfavorable foreign exchange rates
Satya Nadella, chief executive officer of Microsoft Corp., appears at a panel session at the World Economic Forum in Davos, Switzerland, on May 24, 2022. Hollie Adams | Bloomberg | Getty Images Microsoft shares slid more than 3% on Thursday after the company lowered its fiscal fourth-quarter guidance, citing unfavorable foreign exchange rate movement. In […]
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Binance raises $500 million fund to invest in ‘Web3’ as crypto slides into bear market
Binance is the world’s biggest cryptocurrency exchange, handling $490 billion of spot trading volumes in March 2022. Akio Kon | Bloomberg | Getty Images Binance, the world’s largest cryptocurrency exchange, is launching its own venture capital fund. The company’s venture arm, Binance Labs, said Wednesday it has raised $500 million for its debut start-up fund, […]
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Britain plans new safeguards for stablecoins that go bust in wake of Terra’s collapse
The world’s biggest stablecoin, tether, saw more than $10 billion in redemptions in May, fueling fears of a 2008-style “bank run.” Justin Tallis | AFP via Getty Images Britain wants to make sure stablecoins don’t end up threatening the wider financial system following the collapse of controversial crypto project Terra. The government on Tuesday proposed […]
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Apple’s iPhone assembler says supply chain outlook better than feared, despite lockdowns
Customers walk past a digital display of the new green color Apple iPhone 13 pro inside the Apple Store on 5th Avenue in Manhattan, in New York, March 18, 2022. Mike Segar | Reuters Foxconn, a major supplier of Apple’s iPhones, said the impact of China’s Covid lockdowns on its operations wasn’t as bad as […]
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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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