Social media platform Reddit Inc, whose message boards became central to meme stock trading frenzy in 2021, is tapping Wall Street banks Morgan Stanley and Goldman Sachs Group for its initial public offering, a source familiar with the matter told Reuters on Friday. Reddit had confidentially filed for an IPO in December and is aiming […]
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GameStop Corp’s plans to expand its non-fungible tokens (NFTs) marketplace and partner with crypto firms boosted the video game retailer’s shares by 17.5 percent in premarket trading and also lifted other meme stocks. GameStop shares have been languishing for a while, like several other meme stocks, as interest from retail investors dwindled. The lot, which […]
The United States and Japan on Friday voiced strong concern about China’s growing might and pledged to work together to push back against attempts to destabilize the region, including against emerging defense threats. The comments from the two allies, in a joint statement that followed a virtual “two-plus-two” meeting of their foreign and defence ministers, […]
U.S. stock index futures were mixed on Thursday, with economy-linked banking and energy shares leading gains, while interest rate-sensitive growth names remained under pressure from the Federal Reserve’s hawkish signals. The tech-heavy Nasdaq plunged more than three percent on Wednesday, its biggest one-day percentage drop since February, while the Dow slipped from an intra-day record […]
Facebook’s parent company, Meta, submitted an appeal to the UK competition watchdog ruling forcing the tech giant to sell the recently acquired company, Giphy, under the pretense that it removed a potential advertising rival. In December 2020, the Big Tech giant appealed against the Competition and Markets Authority (CMA) for prohibiting the acquisition, after it […]
In a region fraught with controversy, Tesla has opened a new dealership in China, Xinjiang, the same area where the Chinese government was accused of human rights violations against the Uyghur Muslim minority. This move strangely comes just after U.S president Joe Biden signed the Uyghur Forced Labor Prevention Act to protect said minority from […]
Japan’s Sony Group Corp plans to launch a company this spring to examine entering the electric vehicle market, looking to harness its strengths in entertainment and sensors to play a bigger role in next-generation mobility. The new company, Sony Mobility Inc, comes as the Japanese tech giant is “exploring a commercial launch” of electric vehicles, […]
China’s cyber regulatory body issued on Wednesday draft rules governing mobile apps, including a requirement for security reviews of apps whose functions could influence public opinion. The proposed regulations are part of a campaign run by the Cyberspace Administration of China (CAC) over the past year to increase oversight of the country’s tech companies. The […]
Samsung Electronics Co Ltd is likely to post a record fourth-quarter profit thanks to solid demand for server memory chips and higher margins in contract manufacturing, analysts’ estimates showed. Operating profit for the world’s biggest memory chip and smartphone maker likely hit 15.2 trillion won ($12.7 billion) in the quarter ended December, according to a […]
TuSimple Holdings Inc on Tuesday said it has partnered with Nvidia Corp to use the company’s vehicle chips to design and build an advanced autonomous driving computer for its self-driving trucks. The computer, known as a domain controller in the automotive industry, will be specifically engineered for TuSimple’s commercial self-driving trucks, and will power sensor […]