Elon Musk bought Twitter for $44bn – and it’s now worth less than half October 31, 2023 Twitter / X is now worth less than half what Elon Musk paid for it a year ago, the firm admitted in an internal memo yesterday
Cheer up Mark, the share price might have done better in the metaverse… February 4, 2022 Meta faced its worst single-day wipeout yesterday, as shares plunged over 25 per cent, slashing $220bn (£162bn) off the company’s value. It comes after Facebook’s owner reported dismal results on Wednesday night, citing Apple’s privacy changes and “increasing competition” as the key drivers for its demise. “Meta’s quarterly results confirmed what investors were already worried [...]
Microsoft and Google: Results show a cautious market reaction to AI spending January 31, 2024 Microsoft and Google both reported strong quarterly earnings today but the tech giants failed to satisfy the market.
How the great tech layoff is having unexpected positive consequences October 19, 2023 The wave of layoffs to have struck the tech sector over the past year is conversely boosting the flow of top talent into early-stage start-ups, a top VC firm has said.
You too? Record 44m Brits may be in line for compensation as £2.3bn class action lawsuit against Facebook is launched in London court January 14, 2022 More than 44m people could be compensated over “unfair” terms and conditions being imposed on Facebook users if a multi-billion pound lawsuit against the social media giant is successful. Competition law expert Dr Liza Lovdahl Gormsen has launched the class-action lawsuit against Facebook’s parent firm, Meta, at the Competition Appeal Tribunal, accusing the technology giant [...]
Norway sovereign fund loses more than $150bn thanks to tech rout August 17, 2022 Reuters Norway’s sovereign wealth fund, the world’s largest, made a record loss of 1.68 trillion Norwegian crowns ($174 billion) in the first half of 2022 as stocks and bonds were hit by global recession fears and rampant price inflation. The $1.3 trillion fund’s return on investment was a negative 14.4% for the January-June period, which [...]
City A.M. tech and media awards 2023: blunders, board battles and the cage fight that got away December 29, 2023 Welcome to the inaugural City A.M. tech and media awards, where we look back on the best, the worst and the weirdest moments of the year.
Nvidia’s revenue surges 262 per cent and unveils stock split; shares top $1,000 milestone May 23, 2024 Nvidia's revenue surged 262% last quarter due to AI chip sales, pushing shares over 6% to cross $1,000 for the first time.
Metaverse set for regulation, reckons Digital Minister December 25, 2021 Meta’s new virtual reality project the Metaverse will be subject to new UK laws on digital harm, according to the Government’s digital minister. The metaverse was launched with great fanfare by Mark Zuckerberg earlier this year, as he rebranded Facebook with a new corporate identity. The metaverse is envisioned as a blending of both physical [...]
Tech layoffs: Another US giant announces plans to slash headcount by 10 per cent January 4, 2023 Salesforce said on Wednesday it would lay off about 10 per cent of its employees and close some offices, becoming the latest tech firm to undertake cost cuts amid an economic slowdown. The company expects the move to lead to about $1.4 billion to $2.1 billion in charges, of which about $800 million to $1 [...]