Australia banned TikTok on Tuesday from all federal government-owned devices over security concerns, becoming the latest U.S.-allied country to take action against the Chinese-owned video app. The ban underscores growing worries that China could use the Beijing-based company, owned by ByteDance Ltd, to harvest users’ data to advance its political agenda, undermining Western security interests. […]
Fourth Quarter
A federal jury in San Francisco on Monday ordered Tesla Inc to pay about $3.2 million to a Black former employee after he won a racial harassment lawsuit against the electric-vehicle maker, far less than the $15 million he rejected last year in opting for a new trial. The verdict came after a week-long retrial […]
Rising interest rates are eating into the reserves that U.S. life insurers must hold to deal with rate fluctuations, ratings agency Fitch Ratings said on Monday, creating an accounting issue that could impact insurers’ income. Interest maintenance reserves (IMRs) smooth insurers’ balance sheets by showing interest-related capital gains and losses on fixed-income assets, and amortizing […]
Tesla Inc on Sunday posted record quarterly vehicle deliveries, but quarter-on-quarter sales growth was modest despite price cuts as rising competition and a bleak economic outlook weighed. Tesla delivered 422,875 vehicles for the first three months of this year, up 4% from the previous quarter. This was 36% higher than a year ago. In January, […]
Salesforce Inc on Wednesday forecast first-quarter revenue above analysts’ estimates and doubled its share repurchase to $20 billion, indicating a strong cash flow for the company that has come under pressure from activist investors. The upbeat forecast and fourth-quarter results that beat analysts’ estimates pushed the shares of the cloud-based software provider up 14% in […]
Palantir Technologies on Monday forecast its first profitable year and said it had slowed hiring, cut stock-based payouts and reduced cloud computing investments in response to lower spending from recession-wary businesses. The forecast, coming on the back of better-than-expected fourth-quarter results, sent the data analytics software maker’s shares up 16% after hours and was set […]