Social media platform TikTok says that a bill banning the app in the U.S. is “unconstitutional” and that it will fight this latest attempt to restrict its use in court. The bill in question, which President Joe Biden signed Wednesday, gives Chinese parent company ByteDance nine months to divest TikTok or face a ban on […]
By David Shepardson WASHINGTON (Reuters) -The U.S. Federal Communications Commission said on Thursday it will approve the T-Mobile US deal to buy Ka’ena Corp, the owner of budget service provider Mint Mobile, for up to $1.35 billion. The FCC cited T-Mobile’s voluntary agreement to implement a 60-day unlocking period for all Mint Mobile and Ultra […]
Meta stock (META) fell more than 10% on Thursday after CEO Mark Zuckerberg revealed that the social media company is pouring more cash into its AI efforts, spooking investors. The CEO, however, tried to assuage investor concerns about the company’s spending during Wednesday’s earnings call, noting that Meta has made similar moves when transitioning to […]
By David Shepardson WASHINGTON (Reuters) – The Federal Communications Commission said on Thursday it is ordering the U.S. units of China Telecom, China Unicom and China Mobile to discontinue fixed or mobile broadband internet operations in the United States. The FCC said it was requiring the Chinese carriers to discontinue services within 60 days of […]
(Bloomberg) — Rubrik Inc. shares jumped as much as 25% in its trading debut after the cloud and data security startup backed by Microsoft Corp. raised $752 million in its initial public offering. Most Read from Bloomberg Shares of Rubrik rose to $38.07 per share as of 12:59 p.m. on Thursday. The company priced its […]
By Kane Wu and Julie Zhu HONG KONG (Reuters) -TikTok owner ByteDance would prefer to shut down its loss-making app rather than sell it if the Chinese company exhausts all legal options to fight legislation to ban the platform from app stores in the U.S., four sources said. The algorithms TikTok relies on for its […]
(Bloomberg) — US regulators reinstated net neutrality rules that aim to ensure everything on the internet is equally accessible, reclaiming authority over broadband service and setting the stage for legal challenges. Most Read from Bloomberg The Federal Communications Commission’s Democratic majority adopted rules that bar broadband providers from interfering with web traffic. Their vote revives […]
[youtube https://www.youtube.com/watch?v=VL87aHoXrvA?version=3&rel=1&showsearch=0&showinfo=1&iv_load_policy=1&fs=1&hl=en-US&autohide=2&wmode=transparent&w=640&h=360] The Federal Trade Commission voted 3-2 this week to ban noncompete agreements. While the FTC estimates that nearly one in five American workers is subject to a noncompete, these agreements haven’t been a huge issue in Silicon Valley, because they’re not enforceable in California. This has arguably been one of the region’s competitive […]
(Bloomberg) — A disappointing earnings report from Meta Platforms Inc. has technology investors on edge ahead of results from some of the stock market’s biggest and most important companies in the coming days. Most Read from Bloomberg Technology stocks tumbled on Thursday with the tech-heavy Nasdaq 100 Index falling as much as 2% after Meta […]
(Bloomberg) — Elon Musk is set to be deposed on Monday as the first arbitration hearings get underway involving thousands of former Twitter employees who say they were cheated out of severance pay when the billionaire bought the social media company in October 2022. Most Read from Bloomberg The lawfirm of Lichten & Liss-Riordan sent […]
RevenueCat, a top subscription management platform for apps that monetize via in-app purchases, is now flush with new capital as it expands to the web. The company has closed on a $12 million Series C led by Adjacent, following the launch of a new product, RevenueCat Billing, that allows web app developers to integrate subscription […]
Intel (INTC) will report its first quarter earnings results after the bell on Wednesday, with investors and analysts eyeing whether the recovery in the PC market and Intel’s AI investments are panning out for the chip giant. Intel is looking to grow its AI market share by challenging rivals Nvidia (NVDA) and AMD (AMD) with […]
