-
Meta shares take $125bn hit as Facebook owner raises spending forecasts | Business News
admin
Shares in Meta, the owner of Facebook, WhatsApp and Instagram, have fallen sharply after the company revealed it had raised its cost forecast for the current year. Investors sent the stock 10% lower in after-hours trading in New York when Meta‘s first-quarter results showed further bills were expected to fund new artificial intelligence (AI) products…
-
Tesla recalls thousands of Cybertrucks over jammed accelerator issue | Business News
admin
Tesla has recalled more than 3,800 of its Cybertruck models following complaints that the accelerator pedal is at risk of getting stuck, US regulators have announced. The National Highway Traffic Safety Administration (NHTSA) had contacted the carmaker, founded and run by Elon Musk, about the issue earlier in the week. That was after a video…
-
Tesla to cut around 15,000 jobs under Musk drive for ‘productivity’ – reports | Business News
admin
Tesla is cutting 10% of its global workforce in a bid to reduce costs and bolster productivity, it has been reported. The electric vehicle maker, founded and run by Elon Musk, was yet to comment on a story earlier on Monday by Electrek that it was to axe about 15,000 personnel. The tech publication said…
-
Artificial, Business, charging, considers, Google, Intelligence, News, powered, premium, results, search
Google ‘considers charging’ for premium search results powered by artificial intelligence | Business News
admin
Google is considering charging users for “premium” internet search results powered by artificial intelligence (AI), according to a report. The tech giant is said to be exploring several ideas about how to use the technology, including incorporating enhanced search tools as part of its premium subscription services. Google‘s main search engine would remain free to…
-
Elon Musk’s Tesla suffers sales slump in ‘unmitigated disaster’ for billionaire | Business News
admin
Tesla has reported a sharp fall in worldwide sales amid increased competition and slowing demand for electric vehicles. The carmaker said it delivered 386,810 vehicles during the first quarter of the year – down nearly 9% on the 423,000 it shipped from January to March last year. It marks the first year-on-year quarterly sales decline…
-
BankmanFried, Business, crypto, era, greed, hubris, incompetence, jail, Kings, News, Sam, sentence, term, years
Sam Bankman-Fried sentence: After years of ‘hubris, incompetence and greed’, crypto king’s jail term is end of an era | Business News
admin
Sam Bankman-Fried was breathlessly described as a wunderkind – a boy wonder transforming the world of finance. Renowned for his messy hair and unkempt appearance, he graced the covers of Forbes and Fortune, who pondered whether he could become the next Warren Buffett. The 32-year-old was the founder of FTX, which had quickly become the…
-
BankmanFried, billions, Business, crypto, customers, Disgraced, dollars, FTX, jailed, king, News, Sam, stealing, years
Sam Bankman-Fried: Disgraced ‘crypto king’ jailed for 25 years after stealing billions of dollars from FTX customers | Business News
admin
Disgraced crypto entrepreneur Sam Bankman-Fried has been sentenced to 25 years in prison after being convicted of stealing billions of dollars from his customers. He was the chief executive of FTX, which suddenly went bankrupt in November 2022 – leaving millions of users frozen out of their accounts and unable to make withdrawals. The 32-year-old…
-
Why Bitcoin has suffered a sharp pullback from record highs – and what might happen next | Business News
admin
Bitcoin has suffered a sharp pullback from record highs. The world’s biggest cryptocurrency fell to $66,885 in the early hours of Friday – down 9%. Only yesterday, the digital asset had been touching an unprecedented price of $74,000. Image: Bitcoin’s price over the past week. Pic: CoinGecko It is difficult to pinpoint a single reason…
-
Computer scientist is not mystery Bitcoin inventor ‘Satoshi Nakamoto’, judge rules | Business News
admin
An Australian computer scientist is not ‘Satoshi Nakamoto’, the pseudonym attributed to the unknown person widely credited with inventing Bitcoin, a High Court judge has ruled. Dr Craig Wright, who claimed he was Satoshi, was sued by the Crypto Open Patent Alliance (Copa), a non-profit group that includes cryptocurrency firms. During the five-week trial, the…
-
TikTok’s US future in doubt as House demands end to China ownership | Business News
admin
TikTok’s Chinese owners are facing the prospect of the video app being banned in the United States unless they sell its American operation. A vote by the US House of Representatives has overwhelmingly supported a measure to force ByteDance into divestment within six months on national security grounds. The Bill still needs to pass the…