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…
Virginia Tech CB Caleb Farley becomes first player to opt out of 2020 college football season
When Virginia Tech takes the field this fall (should the college football season still happen), the Hokies will be without one of their best players. Cornerback Caleb Farley, a projected first-round pick in the 2021 NFL Draft, has decided to opt out of…
Congress grills tech CEOs in wide-ranging hearing on monopoly, political bias, China and more
The chiefs of four of the biggest tech companies in the world — Amazon, Apple, Facebook and Google — faced lawmakers Wednesday for a hearing on digital competition that could have cataclysmic impact on an industry largely unhindered by…
Qualcomm Shares Rise on Strong Forecast, Huawei Agreement
(Bloomberg) — Qualcomm Inc. gave a strong sales forecast for the current quarter, signaling that fifth generation mobile phone services are taking off. The chipmaker also announced a new licensing deal with China’s Huawei Technologies Co., sending…
Big Tech House Hearing Reveals Mark Zuckerberg Emails About Facebook’s Instagram Acquisition
Facebook’s $1 billion deal to buy Instagram in April 2012 became a focal point of the House Antitrust Subcommittee’s wide-ranging antitrust hearing Wednesday with four major tech company CEOs. The committee disclosed emails from Mark Zuckerberg revealing…