Category: Uncategorized

  • Lyft hires new CEO as founders step back amid competitive battle

    Lyft Inc., LYFT -2.74% struggles with competition and a battered stock price, taps a board member as CEO, and the two co-founders will step down from managing the company, the ride-sharing company said Monday. David Risher, who held management positions at Inc. and Microsoft Corp. before starting a non-profit children’s reading organization in 2009, […]

  • Silicon Valley Bank’s mismanagement led to failure

    Federal Reserve Vice Chairman of Oversight Michael Barr appeared before Congress last year. Photo: Ting Shen/Bloomberg via Getty Images Silicon Valley Bank was a “textbook example of mismanagement,” the Federal Reserve’s chief banking regulator will tell lawmakers this week — a key reason for the bank’s failure. Why it matters: The Fed official is one […]

  • How experts say you can have bank deposits over $250,000 insured

    The collapse of Silicon Valley Bank and Signature Bank continues to prompt scrutiny of FDIC coverage limits, which are generally $250,000 per depositor. On Friday, President Joe Biden said the FDIC could guarantee deposits of more than $250,000 if further instability occurs. However, experts say it is possible to take out more insurance for your […]

  • Publishers beat internet archive because court rules that e-book lending violates copyright – Ars Technica

    On Friday, a US district judge ruled in favor of book publishers suing the Internet Archive (IA) for copyright infringement. The IA’s Open Library Project — which works with libraries to scan print books in their collections and offer them as loanable e-books — did not have the right to reproduce 127 of the publisher’s […]

  • Disney will begin laying off 7,000 employees, CEO Bob Iger announces

    New York (CNN) Disney CEO Bob Iger said Monday his company will begin laying off staff starting this week, the first of three rounds of expected cuts following his February announcement that the company would cut 7,000 jobs. Disney’s global workforce cuts are part of a multibillion-dollar cost-cutting initiative aimed at streamlining the company’s operations […]

  • Failure SVB is ‘textbook example’ of mismanagement’

    Less than three weeks after Silicon Valley Bank collapsed, Federal Reserve vice chairman of oversight Michael Barr will tell lawmakers on Tuesday that the collapse was a textbook example of mismanagement after the nation’s 16th lender went into receivership within days . “The failure of the SVB is a textbook example of mismanagement,” Barr testified. […]

  • Alibaba founder Jack Ma returns to China after months abroad

    Alibaba founder Jack Ma has been seen in public in China for the first time in months. The return of the billionaire could indicate that Beijing is softening its stance on the tech sector after an 18-month repression. Cost photo | Future publication | Getty Images Ali Baba founder Jack Ma has been spotted in […]

  • Top Fed official blasts SVB collapse as ‘textbook example of mismanagement’

    The Federal Reserve’s top banking oversight official has attributed the collapse of Silicon Valley Bank to a “textbook example of mismanagement,” saying the U.S. central bank board had been made aware of troubles at the California bank in mid-February. lender. Michael Barr, the Fed’s vice chairman for oversight, criticized the bank’s “concentrated business model” in […]

  • The Twitter source code was leaked on GitHub shortly after Musk’s firing wave – Ars Technica

    Getty Images | Future publication Portions of Twitter’s source code have recently appeared on GitHub, and Twitter is trying to force GitHub to identify the user or users who posted the code. GitHub disabled the repository on Friday, shortly after Twitter filed a DMCA (Digital Millennium Copyright Act) takedown request, but apparently failed to provide […]

  • What’s going on with Carnival stock today

    Carnival Corp (NYSE: CCL) shares fall 0.6% after Q1 results. CCL reported revenue of $4.43 billion in the first quarter of FY23, surpassing the consensus figure of $4.33 billion. Revenue grew 95% from 2019 levels and increased 173% from $1.6 billion in the prior year. Passenger Cruise Day (PCD) increased 180.5% Y/Y to 20.2 million. […]