KPMG has settled a £1.3 billion lawsuit brought by the liquidators of Carillion, who alleged the auditor was negligent and failed to notice significant warning signs in the outsourcing company’s financial statements prior to its disastrous collapse in 2018. The lawsuit was filed by Britain’s official receiver, who is attempting to recover losses on behalf…
Microsoft announced on Friday that the Bing AI chatbot will be limited to 50 questions per day and five questions and answers per individual session. The company wrote in a blog post that the action will curtail some situations in which protracted chat sessions threaten to “confuse” the chat model. Early beta testers of the…
Only paid subscribers will be able to use text messages as a two-factor authentication (2FA) process to safeguard their accounts, Twitter announced on Friday. Only Twitter Blue subscribers will be able to use text messages as their two-factor authentication method after March 20, the company announced in a tweet. Two-factor authentication, designed to increase account…
Price reductions have boosted Tesla’s sales in China, but analysts and even supporters warn that the American automaker must step up its long-term strategy to avoid getting choked out by competitors who move quickly in the largest market for electric vehicles. First and foremost, Tesla’s January price cuts increased China-made vehicle deliveries by 18% over…
A report by the Financial Times claimed that Facebook owner Meta has not assigned teams at the company their annual budgets yet as the company expects to lay off more of its staff in a short time. This fuelled further speculations of further layoffs at the social media company which were ignited a couple of…
According to sources cited by Reuters, Ford Motor Co. is expected to announce on Monday that it intends to invest $3.5 billion in a lithium iron phosphate battery plant in Michigan. According to sources, Ford will likely own and run the plant with Contemporary Amperex Technology Co Ltd (CATL), a Chinese battery company, as a…
After a dismal forecast fueled concerns that the company’s price reductions to avoid coming in a distant second to Uber in the North American ride-sharing market would squeeze profits, Lyft Inc. lost more than a third of its market value on Friday. Analysts predicted that any increase in Lyft’s ride volume would not be sufficient…
Over 20% of Yahoo’s 8,600 employees will be let go as part of a significant restructuring. The seasoned tech company is restructuring its advertising division, which will lose more than half of its staff by year’s end. By the end of the week, the cuts will have a significant impact on close to 1,000 employees.…
According to reports citing sources familiar with the matter, Intel Corp. is thinking about significantly increasing its current $1.5 billion investment in Vietnam to expand its chip testing and packaging facility there. As businesses push to reduce reliance on China and Taiwan due to political risks and trade tension with the United States, the potential…
Pandora, the Danish jewelry company, plans to expand its lab-grown diamonds product line after customers said they liked the concept but wanted more options, its CEO said on Thursday. Pandora, the world’s largest jewelry manufacturer in terms of production capacity, launched its lab-made diamonds collection in August across 269 stores in the United States and…
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