Elon Musk loses $50 billion in two days as Tesla stock tanks
By Moynihan Elon Musk lost $50 billion over just two days this week after Tesla shares got hammered by the mere suggestion that he might sell some of his stock. …
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Investors to take McAfee private in $14B deal
By Garber McAfee Corp. is being taken private by a group of investors in a deal that values the cybersecurity firm at more than $14 billion including debt. A consortium of investors including Advent …
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JPMorgan’s refusal to increase Hertz bid costs co-investors billions
By Kosman JPMorgan’s refusal to increase its bid for Hertz in a bankruptcy auction this spring – despite pressure from co-investors – now looks like a multi-billion dollar mistake as …
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Facebook will stop using facial recognition system
By Elisa Facebook announced on Tuesday it is shutting down its facial recognition system, which automatically identifies users in photos and videos, citing growing societal concerns about the use of …
Read MoreYahoo exits China, citing ‘challenging’ environment
By Elisa Yahoo said Tuesday it has pulled out of China, citing an increasingly challenging operating environment. The withdrawal was largely symbolic, as many of the company’s services were already …
Read MoreMeghan Markle gifts $25 Starbucks gift cards to ‘paid family leave’ activists
By Meyer Meghan Markle is doubling down on her push for Congress to pass federal paid family leave – by donating $25 Starbucks gift cards to the staff of a …
Read MoreAmazon raises stake in e-trucking firm Rivian
By Elisa Amazon, an early backer of Rivian Automotive, now owns about a fifth of the electric-truck maker, the e-commerce giant disclosed in a quarterly filing on Friday. Ford, which has a …
Read More‘Squid Game’ cryptocurrency skyrockets 40,000 percent in first week
By Feuer The price of a new cryptocurrency inspired by the hit Netflix series “Squid Game” has skyrocketed 40,000 percent in just its first few days of trading. As of …
Read MoreSpotify CEO says COVID slump ‘behind us’ as podcasts fuel ad rebound
By Steigrad Music streaming giant Spotify said it continued to grow its subscriber base and advertising revenue thanks to podcasts in the third quarter, as the effects of the pandemic …
Read MoreJapan startup says car lovers should check out this $700K hoverbike
By Elisa A Japanese startup backed by soccer player Keisuke Honda hopes to persuade wealthy consumers to swap their supercar for a 77.7 million yen ($680,000) hoverbike that went on …
Read More11 Picasso pieces fetch $109 million at Las Vegas auction
By Reilly Several pieces of art by Pablo Picasso sold for a combined $109 million dollars at an auction in Las Vegas on what would have been the artist’s 140th …
Read MoreNorah O’Donnell in danger of losing anchor spot at ‘CBS Evening News’
By Steigrad Norah O’Donnell is in danger of losing the top spot at “CBS Evening News,” as cost-slashing execs at the broadcasting giant quietly search for her replacement amid sagging …
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How the supply chain crisis is hurting Facebook, Google and Snapchat
By Wayt The escalating supply chain crisis isn’t just hurting manufacturers and retailers that sell goods off the shelf – it’s bleeding into the tech world. Companies that sell everything …
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Snapchat stock tanks as company blames Apple for revenue hit
By Feuer Shares of Snapchat’s parent company tanked as much as 27 percent after the social media firm reported lower-than-expected revenue on Thursday, blaming the miss on changes Apple made …
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Pinterest stock soars after report says PayPal may acquire it
By Feuer Shares of Pinterest soared as much as 17 percent Wednesday after a report said financial-technology firm PayPal is considering buying the social media company. PayPal has recently approached …
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Goldman CEO David Solomon beats ‘back-to-office’ drum – from LA
By Moynihan Goldman Sachs Chief Executive David Solomon was beating the “back-to-the-office” drum again this week – this time from a conference in Los Angeles. The Goldman honcho said an …
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Details of alleged Google-Facebook collusion must be made public, judge orders
By Wayt Details of alleged collusion between Google and Facebook to squash competition in the online ad space are set to be made public this week, a federal judge has …
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Amazon ripped off sellers, rigged search results to favor its own brands: report
By Wayt Amazon ripped off its third-party sellers’ products and rigged search results to favor its own products – even as Jeff Bezos told Congress under oath that the company …
Read MorePeter Thiel-backed YouTube rival Rumble wants to woo Kanye West, Nicki Minaj
By Wayt A Peter Thiel-backed YouTube rival called Rumble has established itself as a place for right-wing political commentary – but the site is looking to widen its audience by …
Read More Facebook banned developer who made an app to let users limit news feed
By Feuer A developer who created a browser extension that helps Facebook users spend less time on the site claims he has now been banned from the social media platform …
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