TikTok CEO to testify before U.S. Congress over security concerns

Reuters | January 30, 2023

By David Shepardson WASHINGTON (Reuters) -TikTok Chief Executive Shou Zi Chew will appear before the U.S. Energy and Commerce Committee in March, as lawmakers scrutinize the Chinese-owned video-sharing app. Chew will testify before the committee on March 23, which will be his first appearance before a congressional committee, said Representative Cathy McMorris Rodgers, the Republican […]

Amazon’s AWS to invest $35 billion in Virginia

Reuters | January 21, 2023

By David Shepardson WASHINGTON (Reuters) Inc’s cloud services division said Friday it plans to invest another $35 billion by 2040 to expand data centers in Virginia. Amazon Web Services (AWS) said the new investment will create 1,000 jobs. Virginia Republican Governor Glenn Youngkin said AWS will establish multiple data center campuses across Virginia. In […]

Davos 2023: CEOs buzz about ChatGPT-style AI at World Economic Forum

Reuters | January 20, 2023

By Jeffrey Dastin DAVOS, Switzerland (Reuters) -Business titans trudging through Alpine snow can’t stop talking about a chatbot from San Francisco. Generative artificial intelligence, tech that can invent virtually any content someone can think up and type into a text box, is garnering not just venture investment in Silicon Valley but interest in Davos at […]

Crypto news site CoinDesk hires banker to explore potential sale

Reuters | January 19, 2023

(Reuters) – Crypto outlet CoinDesk Inc is exploring a full or partial sale of its business and has hired investment bank Lazard Ltd to lead the process, the media company’s chief executive said on Wednesday. The crypto industry is going through one of its worst phases, with prices of major tokens at two-year lows and […]

Tesla slashes prices in China, other Asian markets as sales stumble

Reuters | January 7, 2023

SHANGHAI (Reuters) – Tesla cut prices in China for the second time in less than three months on Friday, fuelling forecasts of a wider price war amid weaker demand in the world’s largest autos market. The U.S. automaker also cut prices on its best-selling Model Y and Model 3 electric vehicles in Japan, South Korea […]

Tesla deliveries miss estimates due to logistical issues, slowing demand

Reuters | January 3, 2023

By Akash Sriram and Baranjot Kaur (Reuters) -Tesla Inc said quarterly deliveries fell short of market estimates on Monday, held back by ongoing logistical issues and growing demand concerns that rounded off a tumultuous 2022 for the Elon Musk-led firm. The company is still the world’s most valuable automaker even after losing 65% of its […]

FTX’s Bankman-Fried, charged with ‘epic’ fraud, released on $250 million bond

Reuters | December 23, 2022

By Luc Cohen and Jody Godoy NEW YORK (Reuters) – Sam Bankman-Fried was released on a $250 million bond package on Thursday while he awaits trial over the collapse of the FTX crypto exchange, which a U.S. prosecutor called a “fraud of epic proportions.” Federal prosecutors in Manhattan have accused the FTX founder of stealing […]

Russian mobile calls, internet seen deteriorating after Nokia, Ericsson leave

Reuters | December 21, 2022

By Supantha Mukherjee and Alexander Marrow STOCKHOLM/MOSCOW (Reuters) -When telecoms gear makers Nokia and Ericsson leave Russia at the end of the year, their departure could steadily cripple the country’s mobile networks over the long-term, setting off a deterioration in communication for everyday Russians. Five senior telecoms executives and other industry sources said Russian mobile […]

Cryptocurrencies at crossroads after annus horribilis

Reuters | December 20, 2022

By Vidya Ranganathan SINGAPORE (Reuters) – To borrow from Britain’s Queen Elizabeth, 2022 is not a year on which the cryptocurrency world shall look back with undiluted pleasure. Crashes, contagion, collapses came in such quick succession that investors were, towards the end of the year, asking serious existential questions. After all, the largest cryptocurrency, bitcoin, […]

FTX’s Bankman-Fried to agree to U.S. extradition in about-face after hearing -source

Reuters | December 20, 2022

By Jared Higgs, Luc Cohen and Jack Queen NASSAU, Bahamas/NEW YORK (Reuters) -Sam Bankman-Fried has decided to agree to be extradited to the United States to face fraud charges, a person familiar with the matter said on Monday, just hours after the FTX founder’s lawyer told a Bahamas judge he was not ready to consent. […]

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