IBM’s quarterly revenue beat analyst estimates this week, as the company enjoyed higher than expected growth in its software and infrastructure segments. But it was also revealed the tech giant plans to…
U.S. Accuses Google of Abusing Ad Tech Monopoly
The U.S. Justice Department and eight states have sued Google this week, claiming the company had illegally abused a monopoly over the technology behind online advertising. Google’s anti-competitive actions “weakened if not…
Activist Investor Elliott Takes Multi-Billion Dollar Stake in Salesforce
Activist investor Elliott Investment Management has taken a substantial stake in Salesforce, amid job cuts and a hefty fall in share price at the software company. According to multiple reports, Elliott took…
Microsoft to Lay Off 10,000 Employees
Microsoft will lay off 10,000 employees as part of cost-cutting measures, the company said in a securities filing this week. The company became the latest tech giant to announce massive job losses,…
Tesla Engineer Testifies Self Driving Video Was Staged
Tesla staged a 2016 video used to promote self driving technology in its cars, according to a testimony by a senior engineer at the company. The 2016 video, which shows capabilities such…
European Union Preparing to Challenge Microsoft’s $69bn Activision Blizzard Acquisition – Report
The European Union is ready to challenge Microsoft’s proposed $69 billion deal to buy video game producer Activision Blizzard, potentially making it even more difficult for the tech giant to complete the…
Swedish Mining Company Finds Europe’s Largest Rare Earth Deposit
A Swedish mining company has discovered Europe’s largest deposit of rare earths — minerals used to make products like smartphones and electric vehicles. In 2021, 98% of rare earths used in the…
Microsoft Plans $10bn ChatGPT Investment – Report
Microsoft is reportedly planning to invest $10 billion in OpenAI, the company behind the artificial intelligence tool ChatGPT. A report from Semafor suggests the investment is part of a funding round with…
Jack Ma to Cede Control of Ant Group
Jack Ma, the billionaire founder of Ant Group, is to cede control of the Chinese fintech company following a regulatory crackdown. Ant Group, which runs Alipay, the main online payment system in…
Amazon to Cut 18,000 Jobs
Amazon has revealed plans to lay off more than 18,000 employees in response to worsening global economic conditions. A memo shared by Amazon CEO Andy Jassy with employees states several teams within…