The Federal Trade Commission has ordered video game company Epic Games to pay a total of $520 million in penalties and refunds, after complaints involving the privacy of children and tricking players…
DoorDash is Latest Tech Company to Announce Job Cuts
Delivery company DoorDash has announced it will cut 1,250 jobs, as it becomes the latest major technology player to reel in spending. DoorDash CEO Tony Xu wrote in a note to employees…
Retailers Set New Black Friday Sales Record
Retailers in the United States enjoyed record-setting online sales on Black Friday, despite concerns over inflated prices and a looming recession. Consumers spent $9.12 billion on Friday, according to Adobe Analytics, an…
Netflix Stock Jumps as Subscriber Numbers Beat Expectations
Shares in Netflix jumped this week after the streamer revealed it added more than 2.4 million subscribers in the third quarter, putting an emphatic end to a streak of customer losses. The…
Apple Halts Plans to Use China’s YMTC Chips
Apple has paused plans to use memory chips manufactured by Yangtze Memory Technologies Co (YTMC), the largest memory chip maker in China, after US trade sanctions targeted the company, according to reports. …
Netflix to Introduce Ad-Tier Service This Year
Netflix has launched a new, cheaper streaming option which includes adverts, as it fights to maintain subscriber numbers. The plan will be rolled out in 12 countries including the U.S., the U.K.,…
Lyft, Uber and DoorDash Shares Tumble Following Federal Gig Worker Proposal
Share prices of Uber, Lyft and DoorDash dropped heavily on Tuesday after the United States Department of Labor announced a proposal to change the way workers are classified, something that would drastically…
Naver Agrees $1.2bn Deal to Buy Fashion Marketplace Poshmark
The South Korean search giant Naver has agreed to acquire fashion marketplace Poshmark for $1.2 billion in cash. The deal values the company’s shares at $17.90, a 15% premium on yesterday’s closing…
Intel’s Self-Driving Tech Company Mobileye Files For IPO
Mobileye, the self-driving technology company owned by Intel, has filed for an IPO. An SEC filing shows the Israel-based company, which was acquired by Intel for $15.3 billion in 2017, intends to…
Google to Shut Down Stadia
Google has announced it is shutting down its cloud gaming service Stadia, just three years after its launch. The service was touted as a “Netflix for games” and allowed gamers to stream…