Walt Disney Co missed Wall Street earnings forecasts on Tuesday as the entertainment giant racked up more losses from its push into streaming video, sending its shares tumbling 9 percent. The company gained more streaming customers than analysts had expected from July through September, but media investors have increasingly focused on profits over streaming subscription […]
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As Elon Musk is engulfed in his overhaul of Twitter, the entrepreneur is headed to trial to defend his record $56 billion Tesla Inc pay package against claims it unjustly enriches him without requiring his full-time presence at the carmaker. A Tesla shareholder is seeking to rescind Musk’s 2018 pay deal, claiming the board set […]
Global shares rose on Friday and the U.S. dollar fell, after jobs data came in stronger than expected but also hinted at some slack in the tight American labor market, raising hopes the Federal Reserve might ease up on monetary tightening. Data from the U.S. Bureau of Labor Statistics showed the economy generated 261,000 jobs […]
Meta Platforms Inc is planning to begin large-scale layoffs this week that will affect thousands of employees, the Wall Street Journal reported on Sunday citing people familiar with the matter, with an announcement planned as early as Wednesday. Meta declined to comment on the WSJ report. Facebook parent Meta in October forecasted a weak holiday […]
Chinese chip manufacturer Hua Hong Semiconductor Ltd has received regulatory approval for an 18 billion yuan ($2.5 billion) IPO in Shanghai, according to a filing published late on Friday on the Hong Kong stock exchange. The planned initial public offering (IPO) comes as China’s chip companies gear up for steeper competition with the United States […]
U.S. stocks closed lower for a second straight session on Tuesday after data indicating that the labor market remained on solid ground dimmed hopes the Federal Reserve might have enough reason to begin reducing the size of its interest rate hikes. A survey showed U.S. job openings unexpectedly rose in September, suggesting that demand for […]
Tesla Inc boss Elon Musk said on Monday he will serve as chief executive of Twitter, the social media company he just bought for $44 billion, a move that Wall Street analysts have said could stretch the billionaire thin. Musk, who also runs rocket company SpaceX, brain-chip startup Neuralink and tunneling firm the Boring Company, […]
Meta is currently showing signs of a downfall. It is hard to notice such signs when looking at a giant company worth trillions of dollars, but it does not mean cracks do not exist. The company’s stock got thrown from a 130 dollars price to a trading point of ninety-eight dollars, a more than a […]
Southeast Asia’s internet economy is expected to be worth $330 billion by 2025, though this a downgrade from a previous forecast due to economic uncertainty and more pressure on tech companies to make a profit, an industry report said on Thursday. The annual report, by Alphabet’s Google, Singapore state investor Temasek Holdings and global business […]
Bitcoin itself came as a response to the 2008 global recession. Introducing a new path to transact without depending on the power of third parties, such as banks. The failing ones, in particular, were still bailed by governments at public expense. Given its birth nature, people always consider bitcoin a decent way to fight the […]