News

Cathie Wood buys the dip on pandemic darlings Roku, Zoom, Roblox

Star stock-picker Cathie Wood’s Ark Invest this week snapped up shares of pandemic darlings including Roblox Corp, Roku Inc and Zoom Video Communications that have fallen out of favor this year. The asset manager’s flagship ARK Innovation ETF has slumped 43% this year, lagging far behind the S&P 500’s 7.7% decline as the prospect of […]

EU sets new online rules for Google, Meta to curb illegal content

Alphabet unit Google, Meta and other large online platforms will have to do more to tackle illegal content or risk hefty fines under new internet rules agreed between European Union countries and EU lawmakers on Saturday. The agreement came after more than 16 hours of negotiations. The Digital Services Act (DSA) is the second prong […]

U.S. lawmakers urge Facebook to do more to fight Russia propaganda in Spanish

A group of 21 U.S. lawmakers sent a letter to Facebook chief executive Mark Zuckerberg on Wednesday voicing concern about what they called disinformation on the platform aimed at Spanish speakers about Russia’s invasion of Ukraine. The disinformation is spread by Moscow-backed outlets like RT en Espanol, among others, said the letter joined by Senators […]

Netflix ads are coming: Ad-supported streaming plans down the line

Netflix ads are soon to be implemented as lower-cost, ad-supported alternative packages, co-CEO Reed Hastings stated during the company’s Q1 earnings interview, after years of maintaining subscription-only plans, and in fear of massive subscriber loss. Hastings predicted that the firm will fully flesh out its ad-supported streaming approach in the next year or two, adding “but think […]

Workers at Atlanta Apple store file to hold first U.S. union election

Workers at an Apple Inc store in Atlanta on Wednesday filed a petition to hold a union election, seeking to become the company’s first U.S. store to unionize amid a wave of labor activity at other major firms. The effort at the Apple store in Cumberland Mall is backed by the Communications Workers of America, […]

Google to set up first Africa product development centre in Nairobi

Alphabet Inc’s Google is investing in its first ever Africa product development centre in the Kenyan capital Nairobi, it said, as it positions itself to serve a growing base of internet users on the continent. By the end of this decade, the continent will host 800 million internet users, the California-based firm said, and a […]

How will Twitter's board handle Elon Musk?

Many investors, analysts and investment bankers expect Twitter Inc’s board of directors to reject Elon Musk’s $43 billion acquisition offer in the coming days as inadequate, but how would the social media company then proceed? Twitter shares dropped on Thursday after Musk unveiled his offer, as the market deemed it too low and too thin […]

China's Supply Chains Must be Stabilised, Vice Premier Says

China’s supply chains must be stabilised amid COVID-19 outbreaks, with local governments helping key companies get back to work, the official Xinhua news agency quoted Vice Premier Liu He as saying. Growing COVID-19 flare-ups are snarling China’s logistics chains, clogging highways and ports, stranding workers and shutting countless factories. The disruptions are already spilling over […]