Another bumpy ride on Wall Street ended on Friday as Amazon’s positive earnings capped a run of mixed big-tech numbers, with the Nasdaq recovering much of its losses from the previous session and all three benchmarks ending the week in positive territory. Results from megacap growth stocks have dictated market moves this week, as investors […]
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Mark Zuckerberg lost $29 billion in net worth on Thursday as Meta Platforms Inc’s stock marked a record one-day plunge, while fellow billionaire Jeff Bezos was set to add $20 billion to his personal valuation after Amazon’s blockbuster earnings. Meta’s stock fell 26 percent, erasing more than $200 billion in the biggest ever single-day market […]
Following Washington’s decision to ban China Unicom from providing service in the U.S., Beijing has condemned the move as baseless, vowing to protect its operations’ “legitimate rights and interests” in the U.S. market. The U.S. Federal Communications Commission (FCC) made a bold move to revoke the Chinese-backed telco’s license, prohibiting it from delivering further services […]
Shares in Facebook owner Meta fell 20 percent in U.S. premarket trade on Thursday after the social media giant issued a dismal forecast, blaming Apple’s privacy changes and increased competition. The shock drop, which comes before Amazon earnings later in the day, spilled over to Europe where technology led sectoral fallers with a decline of […]
Global stocks rallied on Wednesday to close higher as strong earnings from U.S. technology companies and OPEC+ plans for moderate oil output helped to counter jitters over weak economic reports. Investors also shrugged off the pace of central banks’ interest rate hikes. The STOXX index of 600 European companies rose 0.45 percent, up for a […]
Self-driving vehicle companies from Tesla Inc to General Motors Co’s Cruise are racing to start making money with their technology, outrunning efforts by regulators and Congress to write rules of the road for robot-driven vehicles. On Tuesday, Cruise said that SoftBank Group Corp will invest another $1.35 billion in anticipation of Cruise launching commercial robo-taxi […]
Shaping the future of digital payment in the Gulf region. Join the biggest stage for the most unique payments agenda. We are excited to announce that ePay GCC will return for its 4th edition on the 1st November 2022 in Dubai. Once again, delivering unparalleled discussions led by the most senior leaders in the industry today, including our unrivalled annual C-Suite panel sessions, […]
Rain Neuromorphics Inc., a startup designing chips that mimic the way the brain works and aims to serve companies using artificial intelligence (AI) algorithms, said on Wednesday it raised $25 million. Gordon Wilson, CEO and co-founder of Rain, said that while most AI chips on the market today are digital, his company’s technology is analogue. […]
The Biden administration plans to spare everyday Russians from the brunt of U.S. export controls if Russia invades Ukraine, and focus on targeting industrial sectors, a White House official said. “Key people” will also face “massive sanctions,” a top Commerce official said in a separate speech on Friday. The comments narrow the scope of potential […]
Vodafone has teamed up with Intel Corp and other silicon vendors to design its own chip architecture for nascent OpenRAN network technology, aiming to weaken the grip of traditional telecoms equipment suppliers. OpenRAN allows operators to mix and match suppliers in their radio networks, posing a challenge to the likes of Ericsson, Huawei and Nokia […]