Internet
Temu slashes U.S. ad spending, plummets in App Store rankings after Trump China tariffs
In just 17 days after launch, Temu surpassed Instagram, WhatsApp, Snapchat and Shein on the Apple App Store in the U.S., according to Apptopia data shared with CNBC. Stefani Reynolds | Afp | Getty Images Chinese online retailer Temu, whose “Shop like a billionaire” marketing campaign made its way to last year’s Super Bowl, has […]
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Spotify restores service after Wednesday outage
The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange on Dec. 4, 2023. Brendan Mcdermid | Reuters Spotify was down Wednesday, with about 50,000 reports of an outage on DownDetector. The company posted an all-clear to Twitter just after noon EDT, thanking listeners for their patience. “Spotify […]
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AMD expects $800 million hit from U.S. chip restrictions on China
Lisa Su, CEO of AMD, attends the Artificial Intelligence Action Summit at the Grand Palais in Paris, Feb. 10, 2025. Benoit Tessier | Reuters Shares of Advanced Micro Devices slid more than 5% on Wednesday after the company said it could incur charges of up to $800 million for exporting its MI308 products to China […]
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Meta CEO Mark Zuckerberg considered spinning off Instagram from Facebook in 2018: FTC trial
Thilina Kaluthotage | Nurphoto | Getty Images Meta CEO Mark Zuckerberg considered spinning out Instagram in 2018 on concerns about the rising threat of antitrust litigation against Facebook, according to an email presented Tuesday in a Washington, D.C. courtroom. During Zuckerberg’s second day of testimony in Meta’s antitrust trial with the Federal Trade Commission, lawyers […]
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Amazon emails sellers to gauge how Trump’s tariffs are impacting their businesses
Packages ride on a conveyor belt during Cyber Monday, one of the company’s busiest days at an Amazon fulfillment center on December 2, 2024 in Orlando, Florida. Miguel J. Rodriguez Carrillo | Getty Images Amazon is reaching out to third-party merchants, who account for the majority of products the company sells, to gauge how President […]
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Bunq, a neobank for ‘digital nomads,’ accelerates U.S. expansion effort as profit jumps 65%
Dutch digital bank Bunq is plotting re-entry into the U.K. to tap into a “large and underserved” market of some 2.8 million British “digital nomads.” Pavlo Gonchar | Sopa Images | Lightrocket | Getty Images Dutch digital bank Bunq on Tuesday said it’s filed for broker-dealer registration in the U.S. as it looks to further […]
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Meta resorted to ‘buy-or-bury scheme’ with Instagram and WhatsApp deals, former FTC Chair Lina Khan says
Former U.S. Federal Trade Commission Chair Lina Khan said Monday that Facebook “panicked” when making the acquisitions of Instagram and WhatsApp as smartphone use took off. “It saw companies like Instagram and WhatsApp experiencing astronomical growth, and that’s the point at which it resorted to this buy-or-bury scheme where, if it couldn’t outcompete a rival, […]
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UnitedHealth is making struggling doctors repay loans issued after last year’s cyberattack
UnitedHealth CEO Andrew Witty testifies before the Senate Finance Committee on Capitol Hill in Washington, May 1, 2024. Kent Nishimura | Getty Images Following the massive cyberattack on UnitedHealth Group’s Change Healthcare unit last year, the company launched a temporary funding assistance program to help medical practices with their short-term cash flow needs, offering no-interest […]
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Meta vs. the FTC: The blockbuster antitrust trial kicks off
This photo illustration created on January 7, 2025, in Washington, DC, shows an image of Mark Zuckerberg, CEO of Meta, and an image of the Meta logo. Drew Angerer | Afp | Getty Images Meta will face off against the U.S. Federal Trade Commission on Monday in a high-stakes antitrust trial that could result in […]
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Amazon CEO Andy Jassy says AI costs will come down over time even as company invests ‘aggressively’
Amazon CEO Andy Jassy on Thursday released his annual shareholder letter where he predicted that rapid advancements around AI, along with a more competitive chip market, will eventually bring down costs around the technology. Dear Shareholders: 2024 was a strong year for Amazon. Our total revenue grew 11% year-over-year (“YoY”) from $575B to $638B. By […]
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