Tesla bitcoin purchase sends crypto soaring
Tesla has purchased $1.5 billion worth of bitcoin causing a surge in the price of the cryptocurrency. The Wall Street Journal’s Caitlin Ostroff and Rebecca Elliott reported: Tesla Inc. TSLA 1.31% said Monday that it bought $1.5 billion in bitcoin, a disclosure that follows Chief Executive Elon Musk’s promotion of the cryptocurrency and other digital-currency […]
South Korean carmakers not in talks with Apple on autonomous car
Hyundai and Kia said they were no longer in talks with Apple on the development of a self-driving car. Heekyong Yang and Joyce Lee from Reuters reported: South Korea’s Hyundai Motor Co said on Monday it is not now in talks with Apple Inc on autonomous electric cars, just a month after it confirmed early-stage […]
McKinsey to pay $573 mln to settle claims for involvement in opioid crisis
Consultancy McKinsey has agreed with states to pay $573 million to settle claims it helped pharmaceutical companies market opioid painkillers. Reuters’ Nate Raymond reported: Consulting firm McKinsey & Co has agreed to pay at least $573 million to resolve claims by 40-plus U.S. states related to its role in the opioid epidemic and advice it […]
Jeff Bezos steps down as CEO of Amazon
Jeff Bezos, the founder of Amazon, will step down as chief executive and become executive board chairman of the company. The AP’s Joseph Pisani reported: Jeff Bezos, who founded Amazon as an online bookstore and built it into a shopping and entertainment behemoth, will step down later this year as CEO, a role he’s had […]
Minneapolis daily seeks biz reporter to cover entrepreneurship
The Star Tribune is looking for an experienced, versatile, self-starting Business reporter to develop a new beat covering the full range and diversity of entrepreneurship in Minnesota, from venture capital-backed startups to owner-operated neighborhood mainstays. Stories could cover everything from the developer whose app is the hot new thing, to the family-owned shoe store that […]
Robinhood, brokerages spark outrage as it limits trading in certain stocks
Robinhood, along with other online brokerages, has restricted trading in the stocks of GameStop, AMC and a new other companies that became targets of the WallStreetBets trading offensive on Reddit. The AP’s Alex Veiga reported: Robinhood and other retail brokerages took steps to tamp down the speculative frenzy surrounding companies such as GameStop, but the […]
Apple posts record revenues on strong iPhone sales
Apple reported fourth-quarter revenues of $111.44 billion thanks to record iPhone sales, with EPS beating Wall Street expectations, too. Reuters’ Stephen Nellis reported: Apple Inc on Wednesday reported holiday quarter sales and profits that beat Wall Street expectations, as new 5G iPhones helped push handset revenue to a new record and sparked a 57% rise […]
Videogames, cloud services push Microsoft’s revenues to record high
Stronger demand for videogames and cloud services drove Microsoft’s revenues for its second quarter to a record high of $43.1 billion. Aaron Tilley from The Wall Street Journal reported: Microsoft Corp. MSFT 1.22% posted record quarterly sales underpinned by pandemic-fueled demand for videogames and accelerated adoption of its cloud-computing services during the health crisis. The […]
Google threatens search engine shutdown in Australia
Google has threatened to exclude Australia from its search engine coverage if the local parliament passes a bill that would make the Big Tech major pay for news content. CNN’s Michelle Toh reported: Google says it will shut down its search engine in Australia if a controversial bill designed to benefit the news media becomes […]
The Information seeks a reporter to cover Amazon Web Services and the cloud
Amid this unprecedented boom in enterprise technology companies, there’s one company that sets the standard and influences the market the most. Amazon’s AWS is, in many ways, the cloud, and The Information is looking to expand our industry-leading enterprise technology coverage with a reporter to focus on this major force, its power, competitors, strategy, leaders […]
