Spotify to trim 6% of workforce in latest tech layoffs

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 […]

Apple to replace key Broadcom chip with in-house design – Bloomberg News

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 […]

Russia’s Yandex co-founder Volozh pens farewell message to staff

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 […]

Elon Musk, ‘Chief Twit’

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 […]

Stop blaming The Bahamas for FTX collapse, foreign minister says

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, […]

Exclusive-How a secret software change allowed FTX to use client money

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 […]

Robots set their sights on a new job: sewing blue jeans

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 […]

Amazon to roll out TikTok-like shopping experience in social commerce push

Reuters | December 8, 2022

(Reuters) – 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 […]

Crypto broker Genesis owes Gemini’s customers $900 million – FT

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, […]

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