Tech CEOs’ opening statements for Wednesday’s tech antitrust hearing
Read the prepared opening remarks from Facebook CEO Mark Zuckerberg, Amazon CEO Jeff Bezos, Alphabet CEO Sundar Pichai and Apple CEO Tim Cook, who will testify at a House antitrust hearing on Wednesday. Facebook CEO Mark Zuckerberg’s opening…
AMD Gains Chip Market Share at Intel’s Expense; Shares Surge
(Bloomberg) — Advanced Micro Devices Inc. is gaining share in the lucrative market for server chips, the latest sign it’s benefiting from close ties to a major Taiwanese factory partner to win orders from larger rival Intel Corp. Shares surged in…
R.E.M., Rolling Stones, Pearl Jam and Dozens of Artists Send Letter Demanding End to Unauthorized Political Use of Music
Click here to read the full article. What do the Rolling Stones, Lionel Richie, Courtney Love, Panic! at the Disco, Pearl Jam, Sia, Aerosmith, Lorde and Linkin Park have in common? Among probably many other things, one definite is a desire for…
Indian Tech Moguls Urge Modi To Be Tougher on Chinese Rivals
(Bloomberg) — Leaders in India’s technology industry are urging the country to go even further to protect the interests of local companies against foreign rivals, or risk ceding the world’s fastest growing internet arena to Chinese and American…
The 400% Tesla Rally Was Only The Beginning Of The EV Boom
The fate of the $2-trillion auto industry is now sealed: In this double disruption that’s defying the global pandemic, Tesla (NASDAQ:TSLA) has gained over 433%, sailing past a $1,500 share price and a $300-billion valuation. And absolutely everyone tied…
Canon Plunges Most in Eight Years After First Quarterly Loss
(Bloomberg) — Canon Inc. slid to a two-decade low after reporting its first quarterly loss, as the Japanese icon struggled with potentially the worst global downturn since the Great Depression. Its shares slid as much as 11.5%, the biggest decline…
Stock futures open higher ahead of Big Tech hearing, Fed meeting
Stock futures opened higher Tuesday evening ahead of an eventful Wednesday, during which Big Tech executives will testify before Congress and the Federal Open Market Committee will release its July monetary policy statement. A host of quarterly corporate…
TransferWise valued at $5bn as New York hedge fund buys stake
TransferWise founder and chief executive Kristo Kaarmann. Photo: TransferWise Financial technology business TransferWise has been valued at $5bn (£3.9bn) in a secondary share sale, confirming its position as one of the most valuable private financial…
Revel suspends NYC scooter service after two fatal crashes
NEW YORK — Ridesharing scooter startup Revel said Tuesday it is suspending operations in New York City after a second fatal crash in less than two weeks. Revel tweeted that service “will be shut down until further notice” as it reviews safety and rider…
Stock Market News for Jul 28, 2020
Possibility of a coronavirus rescue program and positive expectations about tech earnings helped benchmarks close higher on Monday. Investors now brace for a momentous tech earnings week, with reports due from Facebook, Amazon, Alphabet and Apple to name…