News

Robinhood shares fall after retail broker posts drop in revenue, users

Shares in Robinhood Markets Inc, the brokerage at the center of last year’s retail trading frenzy, slipped to a record low on Thursday after it posted a 43 percent fall in first-quarter revenue and a decline in monthly active users. Shares of the Menlo Park, California-based firm dropped more than 12 percent to $8.83 in […]

Wall Street Ends Sharply Higher, Lifted by Meta and Apple

Wall Street ended sharply higher on Thursday after a strong quarterly report from Meta Platforms lifted beaten down technology and growth stocks and offset worries about the U.S. economy’s contraction in the first quarter. The Facebook parent surged 17.6 percent after the social network reported a larger-than-expected profit and rebounded from a drop in users. […]

Faurecia-Aptoide Signs up Mercedes in Infotainment Win over Google

Mercedes-Benz will use embedded Faurecia-Aptoide technology to power navigation and other vehicle infotainment functions in a crucial win for the app provider against Alphabet Inc’s Google and other technology firms to control car dashboards. The companies said on Thursday that under a multi-year partnership, from 2023 the joint venture between auto supplier Faurecia and independent […]

Samsung Elec Sees Component Shortages Persisting in H2, Solid Server Chip Demand

Samsung Electronics Co Ltd said on Thursday it expects firm data centre demand for high-margin memory chips to continue in the second half, but warned component shortages will likely persist as well. The world’s top memory chip and smartphone maker said underlying server chip demand appears “relatively solid” as companies boost investments and look to […]

Cryptoassets Could be Seized to Stop Crime, UK Government Says

Cryptoassets could be seized to help combat economic crime, Britain’s government said on Thursday, but its proposal stopped short of the radical overhaul called for by lawmakers who want a single crime-busting agency. Banking and online scams have rocketed in Britain, particularly since the COVID-19 pandemic. The government said in its response to a parliamentary […]

Tesla Loses $126 Billion in Value Amid Musk Twitter Deal Funding Concern

Tesla Inc lost $126 billion in value on Tuesday amid investor concerns that Chief Executive Elon Musk may have to sell shares to fund his $21 billion equity contribution to his $44 billion buyout of Twitter Inc. Tesla is not involved in the Twitter deal, yet its shares have been targeted by speculators after Musk […]

Chip Startups Using Light Instead of Wires Gaining Speed and Investments

Computers using light rather than electric currents for processing, only years ago seen as research projects, are gaining traction and startups that have solved the engineering challenge of using photons in chips are getting big funding. In the latest example, Ayar Labs, a startup developing this technology called silicon photonics, said on Tuesday it had […]

Factbox-From Outer Space to Social Media, Elon Musk's Growing Universe

Twitter Inc is poised to accept billionaire Elon Musk’s “best and final” $43 billion takeover offer, people familiar with the matter told Reuters on Monday. This comes on the heels of Musk announcing that he had secured $46.5 billion in debt and equity financing for the deal. Earlier in April, the social media company had […]