When Snap Inc kicks off the third-quarter earnings season for tech and social media companies on Thursday, investors are expecting modest revenue growth across most of the sector as results will be compared with a difficult 2021 when Apple Inc privacy changes began to upend the advertising industry. But a possible recession next year makes […]
Reuters
Snap Inc on Thursday forecast no revenue growth in the typically busy holiday quarter, sending a warning signal that rising inflation and the war in Ukraine could hurt other tech companies dependent on advertising revenue. Shares of Snap dropped 27 percent in after-hours trading. The owner of photo messaging app Snapchat is the first of […]
A growing number of funds are betting on the long-term appeal of bitcoin and ether, a gritty gambit in the depths of a crypto winter. Unfazed by a collapse in prices over the past 11 months, investment firms have unleashed a flurry of exchange-traded funds, anticipating that elite cryptocurrencies and their underlying technology will eventually […]
Rising Taiwan-China and U.S.-China tensions have brought “more serious” challenges for the semiconductor industry, the chairman of Taiwanese chipmaker TSMC said on Wednesday. Taiwan is a major producer of chips used in everything from cars and smartphones to data centres and fighter jets, and Taiwan Semiconductor Manufacturing Co Ltd (TSMC) is the world’s largest contract […]
Britain’s competition regulator has ordered Facebook-owner Meta to sell animated-images platform Giphy on Tuesday after a tribunal upheld its view that the acquisition could damage its rivals and remove a potential competitor in advertising. Meta said it would accept the Competition and Markets Authority’s (CMA) order to unwind the 2020 deal. “We are disappointed by […]
U.S. rapper Kanye West, who now goes by Ye, has agreed in principle to buy social media platform Parler, which is popular among U.S. conservatives, the app’s parent company said on Monday. Ye’s offer comes after the artist was locked out of his Twitter and Instagram accounts this month for making posts that online users […]
Used by two-thirds of the world’s 100 biggest banks to aid lending decisions, credit scoring giant Fair Isaac Corp and its artificial intelligence software can wreak havoc if something goes wrong. That crisis nearly came to pass early in the pandemic. As FICO recounted to Reuters, the Bozeman, Montana company’s AI tools for helping banks […]
Facebook parent Meta Platforms Inc on Thursday asked a U.S. judge to dismiss a lawsuit filed by the Federal Trade Commission (FTC) that argues that the company’s proposed deal to buy reality content maker Within Unlimited should be blocked. “The FTC’s attempt to fix its ill-conceived complaint still ignores the facts and the law and […]
Alphabet unit Google could face EU antitrust charges next year over its digital advertising business, putting the company at risk of its fourth fine in the EU of more than a billion euros, people familiar with the matter said on Thursday. Google’s ad business, which generated over $100 billion in sales last year, is Alphabet’s […]
The U.S. Federal Communications Commission is set to ban approvals of new telecommunications equipment from China’s Huawei Technologies and ZTE in the United States on national security grounds, according to an agency document. FCC Chairwoman Jessica Rosenworcel last week circulated the proposed ban to the other three commissioners for final approval. The companies would not […]