Tag: LIF
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Cryptoverse: Bitcoin passes bank stress test
21 March (Reuters) – As the crisis haunts the traditional world of stocks and bonds, bitcoin suddenly looks like a safe haven. The notoriously volatile cryptocurrency seems positively healthy and savory, just as a banking collapse drives markets into the arms of a recession. Bitcoin is up 21% this month, while a choppy S&P 500 […]
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Meta to cut 10,000 jobs in second round of layoffs
March 14 (Reuters) – Facebook parent company Meta Platforms (META.O) said on Tuesday it would cut 10,000 jobs, the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn. Meta shares rose 6% on the news. The widely anticipated job cuts are part of […]
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Tesla vows to cut EV production costs in half, Musk keeps affordable car plan a secret
SAN FRANCISCO, March 1 (Reuters) – Tesla Inc (TSLA.O) will cut assembly costs in half in future generations of cars, engineers told investors Wednesday, but Chief Executive Elon Musk did not reveal when it will debut the long-awaited affordable electric car . Shares fell more than 5% in after-hours trading following the company’s investor day […]
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Twitter lays off at least 50 in ruthless cost-cutting, The Information reports
Feb. 26 (Reuters) – Elon Musk’s Twitter Inc laid off dozens of employees on Saturday in what is at least the eighth round of job cuts since Musk took over the social network in late October, the information reported. The job cuts affected multiple engineering teams, including those supporting ad technology, the main Twitter app […]
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Warren Buffett remains optimistic and preaches patience in an annual letter
Feb. 25 (Reuters) – Billionaire investor Warren Buffett indicated on Saturday that he has not yet lost his continued faith in the US economy and his company Berkshire Hathaway Inc (BRKa.N). In his annual letter to Berkshire shareholders, the 92-year-old Buffett urged investors to focus on the long-term big picture, rather than higher inflation and […]
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Cryptoverse: Tether tightens grip on the wobbling world of stablecoins
21 February (Reuters) – The world of stablecoins is suddenly looking shaky. Seismic shifts may be taking place in the $137 billion market after New York-based Paxos Trust Company, which coins Binance’s stablecoin, said it would stop issuing new BUSD tokens after US regulators declassified the asset as a non-profit. registered effect. The US move […]
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$3.7 billion UK mass action against Facebook for market dominance rejected – for now
LONDON, Feb. 20 (Reuters) – Facebook on Monday temporarily dropped a £3 billion ($3.7 billion) class action lawsuit over allegations the social media giant abused its dominant position to monetize users’ personal data . However, a London court gave the proposed plaintiffs’ lawyers up to six months to “have another try” to establish any alleged […]