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Raimondo warns of ‘deep and immediate recession’ if U.S. were to be cut off from Taiwan chip manufacturing
Commerce Secretary Gina Raimondo warned on Wednesday that the country’s current dependence on foreign computer chip fabrication puts it at risk of a recession if it’s ever cut off. Her comments come as Congress nears key votes on a bill to fund U.S. semiconductor manufacturing, While many computer chips are designed in the U.S. by […]
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FaZe Clan goes public in $725 million SPAC, a market bet on Gen Z and the creator economy
Digital entertainment and esports brand FaZe Clan is being listed on the Nasdaq Wednesday after completing a SPAC merger in a deal valued at $725 million, a big step for creator economy companies to be publicly traded. FaZe Clan is an online media company made up of 93 members, consisting primarily of esports competitors and […]
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Google will let Android developers use rival payments systems in Europe
An Android statue is displayed in front of a building on the Google campus on January 31, 2022 in Mountain View, California. Google parent company Alphabet will report fourth quarter earnings on Tuesday after the closing bell. Justin Sullivan | Getty Images Google will let nongaming app developers use rival payments systems on its Android […]
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FBI says fake crypto apps defrauded investors of more than $42 million
Bankruptcy filings from Celsius and Voyager have raised questions about what happens to investors’ crypto when a platform fails. Rafael Henrique | Sopa Images | Lightrocket | Getty Images The FBI recently issued a warning to consumers about fraudulent crypto applications that have scammed 244 victims out of about $42.7 million since October 2021. “The […]
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Twitter-Musk trial on $44 billion deal set to begin in October after Musk loses effort to delay
Musk’s plan to buy Twitter has worried policymakers around the world. Joe Skipper | Reuters Twitter won its motion for an expedited trial in its lawsuit against Elon Musk on Tuesday. Delaware Court of Chancery chancellor Kathaleen McCormick ruled in favor of an expedited 5-day trial, to take place in October, after a hearing conducted […]
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YouTube partners with Shopify to add live shopping features
In this photo illustration the logo of Canadian e-commerce company Shopify Inc. is displayed on a smartphone. Thomas Trutschel | Getty Images YouTube announced on Tuesday that it’s partnering with e-commerce platform Shopify to let viewers purchase products without leaving its website. Shares of Shopify were up about 2.5% on the news as of mid-morning. […]
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TikTok owner ByteDance explores self-designed chips as China aims for semiconductor self-sufficiency
While ByteDance is best known for its viral social media app TikTok, the Beijing-based company is now bolstering its ability in semiconductor design. ByteDance won’t be manufacturing chips to sell to others, but it will be designing semiconductors that it requires for specific applications internally. Artur Widak | Nurphoto | Getty Images TikTok owner ByteDance […]
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Twitter fires back at Elon Musk’s attempt to delay trial
Elon Musk may tweet about the Twitter deal but not “disparage the company or any of its representatives,” according to a securities filing. Jakub Porzycki | Nurphoto | Getty Images Elon Musk and Twitter continued sparring on Monday, with the social media company slamming the Tesla CEO’s request for a slower trial schedule. Musk is […]
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Snapchat is finally coming to the web after more than a decade as a mobile app
Snapchat founder and CEO Evan Spiegel attends a session during the Viva Technology show in Paris on June 17, 2022. Eric Piermont | AFP | Getty Images After over a decade as a mobile-only service, Snapchat is coming your desktop. Snap, the parent of the popular photo and messaging app, said Monday that it’s debuting […]
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Elon Musk asks court to reject Twitter’s request for speedy trial
“The past two years have been an absolutely nightmare of supply chain disruptions, one thing after another, and we are not out of it yet,” Tesla CEO Elon Musk said. Patrick T. Fallon | Reuters Elon Musk wants time to prepare for a trial over his contentious withdrawal from an agreement to buy Twitter for […]
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