In an effort to give First Republic Bank more time to strengthen its balance sheet, U.S. authorities are considering expanding an emergency lending facility that would provide banks with greater help, Bloomberg News reported on Saturday. According to the article, which cited sources with knowledge of the issue, all discussions are in the early stages,…
Using the well-known app TikTok, 13-year-old Cassidy Jacobson uploaded a video of herself dancing. She had no idea that six years later, her Casssidy J account on the short-form video platform would have 1.5 million followers who were captivated to her passion for dancing and hair care. 150 million Americans use the TikTok app, and…
According to local media sources, Apple CEO Tim Cook praised China for its quick innovation and its long relationships with the American iPhone maker in his first public statements on Saturday while on a visit there. Cook is in Beijing for the China Development Forum, a government-sponsored gathering that has resumed in full force since…
According to the CEO of the chatbot with artificial intelligence, certain users were able to view the titles of other users’ talks due to a ChatGPT bug. Users published screenshots of chat histories that they claimed weren’t theirs on the social media sites Reddit and Twitter. Sam Altman, the CEO of OpenAI, claimed the company…
After the U.K. Competition and Markets Authority’s decision to focus its inquiry into Microsoft’s acquisition of the games publisher, Activision Blizzard stock rose sharply on Friday. Microsoft has gained some ground with this development as it works to grow its video gaming industry. By significant purchases like its purchase of ZeniMax Media, the parent company…
According to reports quoting information from three industry and company sources, BP is considering purchasing the remaining 50% of its solar power joint venture Lightsource BP (LSBP) as part of its effort to increase its capacity for renewable energy. The internal discussions follow last month’s slowdown of BP’s transition away from oil and gas by Chief…
Tether, a cryptocurrency startup, anticipates a $700 million profit for the March quarter, bringing its total excess reserves to over $1 billion, according to the company’s technology leader, who shared the most recent data with CNBC for the first time. The USDT stablecoin is produced by Tether and is linked 1:1 to the US dollar.…
On Thursday, Meta Platforms issued its sharpest criticism to date of a push by EU telecoms operators to have Big Tech pay a portion of network costs, claiming the proposal is neither the answer to their financial issues nor a consideration of the significant investments made by IT firms. For 20 years, operators like Deutsche…
The Chinese-owned firm TikTok is once again threatened with a potential ban in the U.S. due to national security concerns, so advertisers are looking for any reassurances from the viral app that helped usher in a surge of short-form video across social media. Advertisers will be keenly monitoring Chief Executive Officer of TikTok Shou Zi…
Although Ford Motor Co anticipates its electric vehicle business unit to lose $3 billion this year, the company said it is still on target to reach an 8% pretax margin by the end of 2026. Prior to a Thursday morning conference for investors and analysts to go over specifics of the automaker’s new financial reporting…
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