Disruptions at Apple Inc.’s key manufacturing hub of Zhengzhou are likely to result in a production shortfall of close to 6 million iPhone Pro units this year, according to a Bloomberg report quoting people familiar with assembly operations. The situation at the plant is still fluid, and the estimate of lost production could change, according to…
Elon Musk said in a tweet Friday that Twitter’s delayed “Verified” service would be available next week, with different colored checks depending on the type of account. The Twitter CEO stated that there would be a “gold check” for businesses, a grey check for government accounts, and the existing blue check for individuals, whether celebrities…
According to Reuters, International Holding Company (IHC) plans to sell 20% of its technology unit in an initial public offering next year, with the UAE’s IHC aiming for a first quarter IPO of Pure Health to raise more than $1 billion. IHC has been on a consolidation and acquisition spree since rising from relative obscurity…
Policymakers at the European Central Bank feared that inflation was becoming entrenched at their most recent policy meeting, so rates would need to rise further, according to meeting accounts released on Thursday. The ECB raised interest rates by 75 basis points to 1.5% at the meeting to combat sky-high inflation, bringing its total hikes since…
Are you put off by Elon Musk’s commanding management style? Come with us! That’s the pitch being used by talent-starved technology firms to entice thousands of former Twitter employees who were laid off by the social media company’s new owner. Following Musk’s tumultuous takeover of the social media platform, Twitter has fired top executives and…
Some Google employees are concerned that they will be the next victims of industry-wide layoffs. While Google has so far avoided the widespread job cuts that have afflicted other tech companies, particularly those bolstered by a slumping ad market, internal anxiety is rising, according to documents obtained by CNBC and employees who spoke on the…
Elon Musk accused leaders of major civil rights organizations of breaking an accord with him by inspiring companies to stop advertising on Twitter. Such accusations have however been denied by the civil rights organizations. On Tuesday, Musk had tweeted, “a large coalition of political/social activist groups agreed not to try to kill Twitter by starving us…
The company that intends to take Trump Media and Technology Group and its Truth Social platform public has said that shareholders voted to postpone be a number of months a deadline for its merger with the former president’s firm. Following a brief shareholder meeting to announce the delay, Digital World Acquisition Corp. shares closed more than 5%…
According to six sources with direct knowledge of the situation, Chinese authorities are preparing to levy a fine of more than $1 billion on Jack Ma’s Ant Group, putting an end to the fintech company’s two-year regulatory overhaul. According to five of the sources, the regulator preparing the fine is the People’s Bank of China…
Best Buy Co Inc forecasted a smaller drop in annual sales than previously estimated on Tuesday, saying it was confident that an increase in deals and discounts would attract more inflation-weary customers during the holiday season. In premarket trading, the retailer’s stock rose 8% to $76.60 after the company announced that it had resumed its…
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