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Jack Dorsey’s payments company Block expands corporate card service to the UK

Jack Dorsey’s payments company Block expands corporate card service to the UK

Finance News

Marco Bello | AFP | Getty Images LONDON — Block, the payments company owned by tech billionaire Jack Dorsey has launched its corporate card service in the U.K. in a bid to deepen its expansion into the country and take on big incumbents like American Express. The firm’s business-focused payments arm, Square, told CNBC that it […]

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Chinese smartphone company Honor gets new investors as it gears up for IPO

Chinese smartphone company Honor gets new investors as it gears up for IPO

Finance News

Chinese smartphone company Honor has released devices that fold up to be nearly as thin as an iPhone. Nurphoto | Nurphoto | Getty Images BEIJING — Chinese smartphone company Honor on Thursday announced backing from new investors as the Huawei spinoff prepares for an initial public offering. The new backers are: China Telecom — one

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Microsoft CFO says OpenAI investment will cut into profit this quarter

Microsoft CFO says OpenAI investment will cut into profit this quarter

Finance News

Microsoft CEO Satya Nadella, right, speaks as OpenAI CEO Sam Altman looks on during the OpenAI DevDay event in San Francisco on Nov. 6, 2023. Justin Sullivan | Getty Images Microsoft‘s massive investment in OpenAI is weighing on earnings. Following Microsoft’s quarterly earnings report on Wednesday, CFO Amy Hood said she expects the company to

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EBay stock sinks after company gives lackluster guidance for fourth quarter

EBay stock sinks after company gives lackluster guidance for fourth quarter

Finance News

A sign is posted in front of eBay headquarters in San Jose, California.  Justin Sullivan | Getty Images Shares of eBay slumped about 9% in extended trading on Wednesday after the online marketplace posted its third-quarter earnings and gave guidance for the fourth quarter that fell short of Wall Street’s expectations. Here’s how the company

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Meta’s Reality Labs posts .4 billion loss in third quarter

Meta’s Reality Labs posts $4.4 billion loss in third quarter

Finance News

Meta CEO Mark Zuckerberg presents Orion AR Glasses as he makes a keynote speech during the Meta Connect annual event at the company’s headquarters in Menlo Park, California, on Sept. 25, 2024. Manuel Orbegozo | Reuters Despite Meta’s successful showcase of its Orion prototype AR glasses in September, the social media giant continues to lose

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Sigh of relief for UK tech founders as Labour hikes capital gains tax by less than feared

Sigh of relief for UK tech founders as Labour hikes capital gains tax by less than feared

Finance News

On Monday, British tech lobby group Startup Coalition warned in a blog post that there was a risk Reeves’ tax plans could result in a tech “brain drain.”. (Photo by Oli Scarff/Getty Images) Oli Scarff | Getty Images LONDON — Britain’s Labour government on Wednesday announced plans to raise the rate of capital gains tax

Sigh of relief for UK tech founders as Labour hikes capital gains tax by less than feared Read More »

Dropbox slashes 20% of global workforce, eliminating more than 500 roles

Dropbox slashes 20% of global workforce, eliminating more than 500 roles

Finance News

Drew Houston, Dropbox Co-Founder and CEO, speaking at CNBC’s @Work conference in San Francisco on November 4, 2019. Arun Nevader | CNBC Dropbox is laying off 20% of its global workforce, the equivalent of 528 roles, CEO Drew Houston announced Wednesday in a note to staff. The company is in a “transitional period” as its

Dropbox slashes 20% of global workforce, eliminating more than 500 roles Read More »

Super Micro shares plunge 35% as auditor resigns after raising concerns months earlier

Super Micro shares plunge 35% as auditor resigns after raising concerns months earlier

Finance News

Sopa Images | Lightrocket | Getty Images Super Micro’s shares plunged as much as 35% Wednesday morning after the company disclosed its auditor had resigned following months of disagreement with the firm over its governance and board independence. Ernst & Young in its resignation letter said it was “unwilling to be associated with the financial

Super Micro shares plunge 35% as auditor resigns after raising concerns months earlier Read More »

How OpenAI CEO Sam Altman’s lobbying power tamed Washington

How OpenAI CEO Sam Altman’s lobbying power tamed Washington

Finance News

The results of the presidential election will have a big impact on the economy, foreign relations and health care. But when it comes to technology, one of the most powerful people shaping regulation isn’t a candidate at all. It’s Sam Altman. Neither Republican candidate Donald Trump nor his Democratic rival, Vice President Kamala Harris, have

How OpenAI CEO Sam Altman’s lobbying power tamed Washington Read More »

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