Reuters | January 23, 2023
(Reuters) -Spotify Technology SA said on Monday it plans to cut 6% of its workforce and would take a related charge of up to nearly $50 million, adding to the massive layoffs in the technology sector in preparation for a possible recession. The tech industry is facing a demand downturn after two years of pandemic-powered […]
Reuters | January 10, 2023
(Reuters) -Apple Inc plans to replace a Broadcom Inc chip from its devices with an in-house design in 2025, Bloomberg News reported on Monday, citing people familiar with the matter. The iPhone maker has been working to limit its reliance on other chipmakers, having moved to its own line of chips for recent models of […]
Reuters | December 30, 2022
By Alexander Marrow MOSCOW (Reuters) -The co-founder of Russian internet giant Yandex, Arkady Volozh, said goodbye in an internal message to staff on Friday ahead of a corporate restructuring that could see ownership of many of the firm’s core services change hands. Volozh stepped down as CEO and left the board of directors after the […]
Reuters | December 21, 2022
By Kenneth Li -How easy was it to forget the rocket-launching, swashbuckling billionaire inspiration for the superhero “Iron Man” movies held more than one job this year: the self-anointed role of “Chief Twit.” Even as the Tesla and SpaceX CEO ended 2022 with major milestones from mounting an aggressive global expansion of Tesla to playing […]
Reuters | December 19, 2022
By Tom Wilson, Angus Berwick and Elizabeth Howcroft LONDON (Reuters) – The world’s biggest crypto exchange, Binance, is battling to shore up confidence after a surge in customer withdrawals and a steep drop in the value of its digital token. The exchange said it dealt with net outflows of around $6 billion over 72 hours […]
Reuters | December 16, 2022
By Jasper Ward and Brian Ellsworth (Reuters) – The Bahamas should not be blamed for the collapse of bankrupt cryptocurrency platform FTX, the country’s foreign minister said on Friday, following repeated accusations by FTX management of alleged misconduct by the Caribbean nation’s authorities. FTX lawyers on Wednesday said they “do not trust” the Bahamian government, […]
Reuters | December 14, 2022
By Angus Berwick, John Shiffman and Koh Gui Qing (Reuters) – In mid-2020, FTX’s chief engineer made a secret change to the cryptocurrency exchange’s software. He tweaked the code to exempt Alameda Research, a hedge fund owned by FTX founder Sam Bankman-Fried, from a feature on the trading platform that would have automatically sold off […]
Reuters | December 12, 2022
By Timothy Aeppel (Reuters) – Will a robot ever make your blue jeans? There is a quiet effort underway to find out — involving clothing and technology companies, including Germany’s Siemens AG and Levi Strauss & Co. “Clothing is the last trillion-dollar industry that hasn’t been automated,” said Eugen Solowjow, who heads a project at […]
Reuters | December 8, 2022
(Reuters) – Amazon.com Inc said on Thursday it will roll out a TikTok-like feed on its e-commerce app, hoping to attract new shoppers through a stream of photos and videos from their favorite influencers. The move comes as shopping activity slows in response to an uncertain economy and decades-high inflation. The feature is also geared […]
Reuters | December 4, 2022
(Reuters) -Crypto broker Genesis and its parent company Digital Currency Group (DCG) owe customers of the Winklevoss twins’ crypto exchange Gemini $900 million, the Financial Times reported on Saturday. Crypto exchange Gemini is trying to recover the funds after Genesis was wrongfooted by last month’s failure of Sam Bankman-Fried’s FTX crypto group, the newspaper said, […]