Chinese ride hailing company Didi’s stock dropped 44 per cent on Friday, the most in a single day since the Chinese ride-hailing business went public in the United States in June. The stock is currently trading at 87 per cent of its IPO price, putting its two largest owners, SoftBank and Uber, at risk of…
After parent firm Meta Platforms began enabling users in some countries to urge violence against Russia’s president and military, Russia’s technology regulatory body limited access to Instagram on Friday. Because of a temporary adjustment in its hate speech policy to allow threats on Instagram and Facebook in the context of Russia’s invasion of Ukraine, Russia…
CoinZoom, a cryptocurrency exchange based in Utah, has put a stop on new account applications from Russia owing to the country’s escalating war in Ukraine, according to the company’s chief executive officer. While CoinZoom is a relatively unknown cryptocurrency exchange, it is one of the first to temporarily suspend new company operations in Russia. So…
Apple Inc. added 5G connection to the lower-priced iPhone SE and iPad Air as well as a speedier CPU for a new desktop, marking a turning point in the company’s push to power its gadgets with microprocessors created in-house. With the new M1 Ultra CPU, the starting price of the new Studio desktop is at $3,999. Apple’s M1…
The world’s most prestigious luxury companies have announced that they would temporarily suspend storefronts and halt commercial activities in Russia. Hermes, the creator of the Birkin bag, and Richemont, the owner of Cartier, were the first to make similar announcements, followed by LVMH, Kering, and Chanel. Since Russia’s invasion of Ukraine, which caused the United States,…
Ryan Cohen, a billionaire investor, announced on Sunday that he now owns roughly 10 per cent of Bed Bath & Beyond and wants the housewares store to explore strategic options, including a full sale. Cohen, who co-founded online pet supplies store Chewy and is chairman of the board of gaming retailer GameStop Corp, blasted Bed…
Twitter Inc said in a blog post on Thursday that it is extending its crowdsourced fact-checking initiative by making observations on potentially false tweets available to more individuals on Twitter. Last year, the social networking site started the Birdwatch project as an innovative experiment in which users were invited to detect deceptive tweets and submit…
Citigroup’s activities in Ukraine are uncertain for the time being, and the company is apprehensive about a cyber assault by Russia, according to Chief Executive Jane Fraser in an interview with CNBC. According to Fraser, the bank has assisted some of its 200 employees in Ukraine in leaving the country following Russia’s incursion. Those who…
On Thursday, Kroger Co raised its yearly same-store sales and profit forecasts, citing strong demand for its pick-up and delivery services as well as continued home-cooking trends as reasons. In premarket trade, shares of the Ohio-based supermarket climbed almost 6% after the company’s quarterly earnings above expectations. Despite the reopening of restaurants and bars, Americans…
The United States based electric car startup Rivian Automotive Inc announced that it had raised the selling pricing of its vehicles by around 20 per cent owing to inflationary pressures and higher component costs, angering some consumers. Rivian’s “negative gross margin will be staggering” and it is “near impossible” for other companies to make affordable…
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