FirstFT: Today’s top news
The chief executives of Amazon, Facebook, Apple and Alphabet faced accusations of behaving like “cyber barons” and unfairly squashing competition in an unprecedented and at times uncomfortable grilling from US lawmakers on Wednesday. Jeff Bezos, Mark…
Bitcoin Scaling Tech Could Have Saved Companies and Users $500M in Fees: Report
A new study from Bitcoin startup Veriphi finds companies and users sending bitcoin transactions could have saved more than half a billion dollars in fees if all companies, including wallets and exchanges, had used the most up-to-date technology. Each…
Lakers and Bucks remain on collision course
The NBA resumes play after a four-and-a-half-month hiatus on Thursday night as 22 teams pick up their pursuit of a championship inside the bubble at Disney World in Orlando, Florida. Here’s an idea of what to expect from 2020 2.0. What I’m most looking…
Huawei Tops Samsung for First Time in Smartphones, Canalys Says
(Bloomberg) — Huawei Technologies Co. overtook Samsung Electronics Co. in global smartphone shipments in the second quarter after Chinese consumer spending bounced back from a Covid-19 trough, according to Canalys. China’s largest tech company…
VW Cuts Dividend After $940 Million Loss
(Bloomberg) — Volkswagen AG cut its proposed dividend after recording an 800-million-euro loss ($940 million) in the first half of the year, when the Covid-19 pandemic shuttered showrooms and factories in key markets. The German manufacturer…
Lawmakers erupt after Jim Jordan throws a temper tantrum during the big tech hearing
jim jordan antitrust hearing Rep. Jim Jordan at Wednesday’s hearing of the House Judiciary Subcommittee on Antitrust, Commercial, and Administrative Law. Graeme Jennings-Pool/Getty Images On Wednesday, the CEOs of some of the biggest US tech…
Self-isolation period to increase by three days
A poster in Leicester, where local lockdown restrictions have been imposed – Daniel Leal-Olivas/AFP Isolation for coronavirus to be increased by three days People with symptoms of coronavirus will be told to stay home for 10 days, amid fears that…
Chinese Electric SUV Maker Li Auto Raises $1.1 Billion in IPO
(Bloomberg) — Chinese carmaker Li Auto Inc. raised $1.1 billion in an above-range U.S. initial public offering, adding to the market focus on electric-vehicle companies, according to terms of the deal reviewed by Bloomberg. Li Auto sold 95 million…
Tech leads stocks higher as CEOs testify and Fed keeps rates near zero
U.S. equity markets rallied after the Federal Reserve confirmed it will continue to support the U.S. economy in its recovery from the coronavirus. The Dow Jones Industrial Average gained over 162 points, or 0.62 percent, while the S&P 500 and the…
6 Essential Gadgets to Pull Off a Theater-Quality Outdoor Movie Night
When the weather gets warmer, it’s natural to spend less time indoors. If you’re lucky enough to have a backyard, you can gather friends and family together to watch a movie or TV show outside of the house. That may sound like lugging a bunch of heavy…