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SEC sues Elon Musk, alleging failure to properly disclose Twitter ownership

SEC sues Elon Musk, alleging failure to properly disclose Twitter ownership

Finance News

Beata Zawrzel | Nurphoto | Getty Images The SEC filed a lawsuit against Elon Musk on Tuesday, alleging the billionaire committed securities fraud in 2022 by failing to disclose his ownership in Twitter and buying shares at “artificially low prices.” Musk, who is also CEO of Tesla and SpaceX, purchased Twitter for $44 billion, later […]

SEC sues Elon Musk, alleging failure to properly disclose Twitter ownership Read More »

Intel to spin off venture capital arm as chipmaker continues to restructure

Intel to spin off venture capital arm as chipmaker continues to restructure

Finance News

Intel said on Tuesday that it plans to spin off Intel Capital, its venture capital wing, into an independent firm, the latest in a series of structural changes announced by the chipmaker. Turning Intel Capital, which has $5 billion in assets, into a standalone fund will allow it to raise money from outside investors, Intel

Intel to spin off venture capital arm as chipmaker continues to restructure Read More »

Microsoft pauses hiring in U.S. consulting unit as part of cost-cutting plan, memo says

Microsoft pauses hiring in U.S. consulting unit as part of cost-cutting plan, memo says

Finance News

Executive Chair and CEO of Microsoft Corporation Satya Nadella speaks during the “Microsoft Build: AI Day” event in Jakarta, Indonesia, on April 30, 2024. Ajeng Dinar Ulfiana | Reuters Microsoft plans to pause hiring in part of its consulting business in the U.S., according to an internal memo, as the company continues seeking ways to

Microsoft pauses hiring in U.S. consulting unit as part of cost-cutting plan, memo says Read More »

Elon Musk, Mark Zuckerberg and Jeff Bezos will attend Trump inauguration

Elon Musk, Mark Zuckerberg and Jeff Bezos will attend Trump inauguration

Finance News

Elon Musk walks on Capitol Hill on the day of a meeting with Senate Republican Leader-elect John Thune (R-SD), in Washington, U.S. December 5, 2024.  Benoit Tessier | Reuters Tesla and SpaceX CEO Elon Musk, Meta CEO Mark Zuckerberg and Amazon founder Jeff Bezos will attend President-elect Donald Trump’s inauguration, NBC News reported on Tuesday.

Elon Musk, Mark Zuckerberg and Jeff Bezos will attend Trump inauguration Read More »

The UK wants to do its ‘own thing’ on AI regulation, suggesting a divergence from U.S. and EU

The UK wants to do its ‘own thing’ on AI regulation, suggesting a divergence from U.S. and EU

Finance News

Jaque Silva | Nurphoto | Getty Images LONDON — The U.K. says it wants to do its “own thing” when it comes to regulating artificial intelligence, hinting at a possible divergence from approaches taken by its main Western peers. “It’s really important that we as the U.K. do our own thing when it comes to

The UK wants to do its ‘own thing’ on AI regulation, suggesting a divergence from U.S. and EU Read More »

Biden opens federal land for AI data centers, sets rules for developers

Biden opens federal land for AI data centers, sets rules for developers

Finance News

U.S. President Joe Biden delivers a speech at the State Department in Washington, U.S. Jan. 13, 2025.  Evelyn Hockstein | Reuters President Joe Biden issued an executive order Thursday aimed at speeding domestic construction of artificial intelligence infrastructure and shoring up the national security risk involved in the technology. The move empowers the U.S. Department

Biden opens federal land for AI data centers, sets rules for developers Read More »

Klarna scores global payment deal with Stripe to expand reach ahead of blockbuster U.S. IPO

Klarna scores global payment deal with Stripe to expand reach ahead of blockbuster U.S. IPO

Finance News

“Buy-now, pay-later” firm Klarna aims to return to profit by summer 2023. Jakub Porzycki | NurPhoto | Getty Images Klarna has agreed a major new distribution partnership with fellow fintech unicorn Stripe, in a bid to expand reach and add more merchants in the lead-up to its upcoming listing in the U.S. Klarna’s buy now,

Klarna scores global payment deal with Stripe to expand reach ahead of blockbuster U.S. IPO Read More »

UK antitrust regulator opens probe into Google’s search services

UK antitrust regulator opens probe into Google’s search services

Finance News

Anadolu | Anadolu | Getty Images Britain’s competition watchdog on Tuesday said that it’s opening a formal antitrust investigation into Google’s search and search advertising services. The Competition and Markets Authority said that it’s looking to assess whether Google has “strategic market status” (SMS) under the new U.K. Digital Markets, Competition and Consumers Act (DMCC).

UK antitrust regulator opens probe into Google’s search services Read More »

As TikTok faces potential U.S. ban, China’s RedNote tops Apple app store

As TikTok faces potential U.S. ban, China’s RedNote tops Apple app store

Finance News

U.S., Chinese flags, TikTok logo and gavel are seen in this illustration taken Jan. 8, 2025.  Dado Ruvic | Reuters Chinese social media app RedNote has skyrocketed to the top of Apple’s app store, underscoring concerns that TikTok will soon be effectively banned in the U.S. RedNote, or Xiaohongshu as it’s known in China, is

As TikTok faces potential U.S. ban, China’s RedNote tops Apple app store Read More »

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