iab-business and finance

A first generation iPhone going up for auction hopes to fetch $50,000

New York CNN — An unopened first-generation iPhone from 2007 is hitting the auction block Thursday – with an estimated value of $50,000. Originally on sale for $599, the first iPhone offered early Apple adopters a 3.5-inch screen with a 2-megapixel camera, plus 4 GB and 8 GB storage options, internet capabilities and iTunes. It …

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ChatGPT creator launches subscription service for viral AI chatbot

CNN — OpenAI, the company behind ChatGPT, announced on Wednesday it is piloting a $20 monthly subscription plan that offers users priority access to the AI ​​chatbot even during peak times. The paid plan, called ChatGPT Plus, comes two months after the tool was released publicly and quickly went viral, thanks to its ability to …

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Job openings unexpectedly jump to 11 million in December

Minneapolis CNN — Despite the looming threat of recession and the cacophony of mass layoff announcements, US businesses still need workers — 11.01 million of them. The number of available jobs unexpectedly rose in December, climbing from a revised 10.44 million openings in November and exceeding economists’ expectations of 10.25 million, according to Bureau of …

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Sam Bankman-Fried’s bail is tightened over ‘threat’ of witness tampering

New York CNN — Sam Bankman-Fried is in trouble, once again, for talking too much. A federal judge on Wednesday temporarily tightened the FTX founder’s bail conditions after learning that Bankman-Fried sent a text message to a former top executive of the crypto trading platform. The judge said that appeared to be a “material threat …

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Europe grew faster than the US last year. Its markets are outperforming too

London CNN — Europe’s stock markets have beaten Wall Street by the biggest margin in more than three decades over recent months as its economy looks set to dodge a recession many thought inevitable just a few weeks ago. Since late September, European market benchmarks have risen by 20 percentage points more than Wall Street …

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Europe grew faster than the US last year. Its markets are outperforming too

London CNN — Europe’s stock markets have beaten Wall Street by the biggest margin in more than three decades over recent months as its economy looks set to dodge a recession many thought inevitable just a few weeks ago. Since late September, European market benchmarks have risen by 20 percentage points more than Wall Street …

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Tech CEO apologizes for quoting Martin Luther King Jr. in layoff announcement

New York CNN — A tech CEO is apologizing after quoting Martin Luther King Jr. in a layoffs announcement. On January 24, PagerDuty CEO Jennifer Tejada sent a letter to employees announcing the digital operations management company would eliminate about 7% of its workforce. Tejada quoted King at the end of that letter. “I am …

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Snap stock plunges 15% as revenue growth stalls

New York CNN — Snapchat’s parent company reported stalled revenue growth and a large net loss for the final three months of 2022, as it confronts tighter advertiser budgets amid broader economic uncertainty. Snap’s quarterly revenue was just shy of $1.3 billion, essentially flat from the year prior. For the full year, Snap’s revenue grew …

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Samsung earnings: 2022 Q4 profits sink to 8-year low as smartphone and PC demand drops

Hong Kong CNN — Samsung’s quarterly profits have plunged to their lowest level in eight years as customers snapped up fewer cell phones and laptops. The tech giant reported an operating profit of 4.3 trillion Korean won ($3.5 billion) on Tuesday for the three months ended December, down 69% from a year ago. Revenue fell …

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Mustang Mach-E: Ford drops the price of its Tesla competitor

CNN — Ford is boosting production of its popular Mustang Mach-E electric SUV and dropping its sticker price weeks after Tesla dropped prices of its vehicles. The move represents a substantial roll-back of price hikes Ford announced last summer on the 2023 models – but buyers may still be paying somewhat more than before the …

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