Tag: TECH

Intel’s ‘historic collapse’ triggers selloff in chip stocks

Jan 27 (Reuters) – Five of the biggest US chipmakers were set to erase nearly $15 billion in market value on Friday after Intel Corp (INTC.O) stumped Wall Street with dismal earnings projections, fanning fears around a slump in the personal-computer market. The company predicted a surprise loss for the first quarter and its revenue …

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Netflix will put a stop to password sharing by end of March

Netflix plans to bar users from sharing passwords for free by the end of March of this year, according to a recent company announcement in a letter to shareholders. Back in October, the streaming giant said it would begin charging subscribers who share their accounts but did not give a specific date or information for …

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BuzzFeed soars on reports of Meta deal, plans to use OpenAI

Jan 26 (Reuters) – Shares of BuzzFeed Inc (BZFD.O) jumped on Thursday on reports of a deal with Meta Platforms Inc (META.O) and plans to use artificial intelligence to personalize and enhance the digital media firm’s online quizzes and content . The stock was 19% higher in extended trading, after more than doubling in value …

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NYSE stock-trading chaos caused by staffer’s ‘manual error’

Human error is to blame for the glitch that caused wild fluctuations in share prices at the start of trading on the New York Stock Exchange on Tuesday. A NYSE employee who is based out of the exchange’s backup data center in Chicago failed to shut down the disaster-recovery system that is tested every day …

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Prosus, Naspers cutting 30% of jobs at corporate offices

AMSTERDAM, Jan 25 (Reuters) – Prosus NV (PRX.AS) and its South African parent Naspers (NPNJn.J) are cutting up to 30% of jobs at their corporate offices, the Dutch technology investor said. The companies are the latest major technology-based firms to make layoffs, after Google parent Alphabet’s big cuts announced last week. “We are adapting to …

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EU wants to cut red tape, costs to spur rollout of 5G – document

BRUSSELS, Jan 24 (Reuters) – The European Commission wants to cut red tape and costs to help Deutsche Telekom (DTEGn.DE), Orange (ORAN.PA), Telecom Italia (TLIT.MI) and other telecoms operators roll out fast- speed 5G, according to a Commission document seen by Reuters. The EU executive, which wants all Europeans to have access to gigabit connectivity …

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Tesla plans $3.6 bln Nevada expansion to make Semi truck, battery cells

Jan 24 (Reuters) – Tesla Inc (TSLA.O) said on Tuesday it would invest more than $3.6 billion to expand its Nevada Gigafactory complex with two new factories, one to mass produce its long-delayed Semi electric truck and the other to make its new 4680 battery cell. The cell plant would be able to make enough …

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Rogers’ bid for Shaw gets boost after court rejects antitrust effort to block deal

TORONTO, Jan 24 (Reuters) – A Canadian court on Tuesday dismissed the competition bureau’s effort to block Rogers Communications Inc’s ( RCIb.TO ) C$20 billion ($14.9 billion) bid to buy Shaw Communications Inc ( SJRb.TO ), in a boost to the companies’ efforts to close a deal struck nearly two years ago. “It would be …

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Google workers demand ‘psychological safety’ after layoffs

Google employees who survived the company’s recent purge of 12,000 of their now-former colleagues grilled executives during a tense all-hands meeting on Monday — anxiously demanding assurances that their jobs aren’t next on the chopping block. One Google employee based in the UK told management that “psychological safety is paramount” after parent company Alphabet Inc. …

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