Business & Finance
Chinese Top Court Slams '996' Excessive Work Culture
Those companies in China that overwork their employees are being pulled up by authorities. A lengthy condemnation of the working culture commonly known in China as "996," a work culture wherein people work from 9 a.m. to 9 p.m. six days a week, was issued by the top court of the...
Whoop becomes the most expensive startup in fitness monitoring industry
Fitness tracker manufacturer Whoop was valued at $3.6 billion after another round of financing. One of the participants of this round, the Japanese company SoftBank invested $200 million in the company through its investment fund Vision Fund. According to the Financial Times, as a result, Whoop has...
Report: Google, Facebook, Microsoft spent $5 million each on lobbying in the EU
Google, Facebook and Microsoft were the biggest contributors to lobbying EU policy against new laws aimed at restricting IT giants. Analysts concluded that the technology sector has overtaken the pharmaceutical, financial and chemical sectors that used to dominate lobbying. Google, Facebook and...
Tesla opposes Nvidia's purchase of UK chip developer Arm
Elon Musk opposed acquisition of British chip maker Arm for $40 billion by the U.S. Nvidia. Amazon and Samsung also consider the deal a threat to competition. Founder and head of Tesla, billionaire Elon Musk opposes acquisition of British chipmaker Arm for £29 billion ($40 billion) by the U.S....
Return Of Summer Shoppers Prompts Gap To Raise Forecast
The easing of pandemic induced restrictions has allowed greater opportunities for socializing which is expected to increase demand for Old Navy and Athleta clothing brands of Gap Inc, prompting the company to raise its net sale forecast for the entire year for the second time this week. ...
$750m Payout Awarded To Apple Chief Executive Tim Cook
More than five million shares in the technology giant Apple have been granted to its chief executive Tim Cook as he marks ten years in the job. Cook sold most of the shares for more than $750m, showed a company filing with the US Securities and Exchange Commission (SEC) watchdog. This is a...
Salesforce’s Earnings Forecast Driven By Hybrid Work Demand
The continued trend of a combination of work from home and office based work will hold up strong demand for its cloud-based software during the third quarter, said Salesforce.com Inc on Wednesday as the company beat analysts’ expectations for earnings for the May-July quarter, Over the...
Expert finds new way to overcome global chip shortage
Building up stocks of semiconductors in some parts of the supply chain will allow overcoming the global shortage of chips, writes CNBC. Bosch board member Harald Kroeger suggested this way to combat the chip shortage, CNBC noted. "I think we need more inventory in some parts of the supply...
Salesforce raises full-year 2022 earnings and revenue forecast
The enterprise software company Salesforce showed a 23% increase in revenue after buying the messenger Slack, and revenue growth of 39%. Enterprise software and cloud services developer Salesforce raised its revenue and earnings guidance for the full fiscal year 2022 after closing its acquisition...
Chinese Tech Companies Surge Ahead Despite Regulatory Crackdown
At the end of a Series B financing round, the market value of the artificial intelligence (AI) voice assistant Xiaodu Technology, owned by Chinese tech giant Baidu Inc, was fixed at $5.1 billion, the Chinese tech giant said on Tuesday,. This successful funding round was conducted in the...
