Tesla posted record profits and revenues for 2022, despite slashing prices on a number of its electric vehicles in a bid to bolster sales as the auto industry faces waning demand. The electric vehicle maker posted (pdf) $24.32 billion in revenue for the fourth quarter ended Dec. 31, up 37 percent year-over-year from $17.7 billion in the same…
Tesla Posts Record Profit Despite Slashing Prices Amid Waning Demand
Democrats Criticize Meta for Reinstating Trump’s Facebook and Instagram Accounts
January 26, 2023
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Adam SchiffBig Tech, Censorship, and SocialismBusiness & MarketsCompaniesDemocratsDonald TrumpFacebookFeatured TopicsinstagramMedia & Big TechPoliticsSocial MediaTechUSUS News
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Some Democrats have criticized Meta after the social media giant announced that it would reinstate former President Donald Trump’s Facebook and Instagram accounts after a two-year ban. Nick Clegg, president of global affairs for Meta, said in a blog post on Jan. 25 that Trump’s accounts will be reinstated “in the coming weeks,” but added…
Abbott’s Medical Device Sales Hit by China Curbs, Supply Chain Issues
Abbott Laboratories on Wednesday reported lower-than-expected medical device sales for the fourth quarter as COVID-19 curbs in China and supply-chain issues hit its international operations. The company also flagged that medical devices sales would remain soft in the first quarter, mirroring similar comments a day earlier from rival Johnson & Johnson, which cited China’s COVID-19…
Boeing Loses $663 Million in 4th Quarter Despite Higher Revenue
Boeing said Wednesday it lost $663 million in the fourth quarter as higher production costs and supply-chain problems offset rising revenue. It was another disappointing quarter for the aerospace giant, which has yet to recover from deadly crashes involving two of its 737 Max jets and a pandemic that depressed airline demand for new planes…
Ad Spending on Twitter Falls by Over 70 Percent in December: Data
Advertising spend on Twitter Inc. dropped by 71 percent in December, data from an advertising research firm showed, as top advertisers slashed their spending on the social-media platform after Elon Musk’s takeover. The recent data by Standard Media Index comes (SMI) as Twitter is moving to reverse the advertiser exodus. It has introduced a slew…
Former Tesla CFO and Major Shareholder Testify in Elon Musk Fraud Trial
On the sixth day of the ongoing class-action lawsuit against Tesla founder Elon Musk, former CFO Deepak Ahuja took the stand. Ahuja was questioned as a witness to any dealings between the electric car company and the Saudi government’s Public Investment Fund (PIF). While being questioned by defense prosecutors, Ahuja stated that the contents of…
Amazon Launches a Subscription Prescription Drug Service
Amazon is adding a prescription drug discount program to its growing health care business. The retail giant said Tuesday that it will launch RxPass, a subscription service for customers who have Prime memberships. Amazon said people will pay $5 a month to fill as many prescriptions as they need from a list of about 50…
Microsoft’s Dour Outlook Raises Red Flags for Tech Sector
Microsoft Corp.’s lackluster quarterly outlook points to more gloom ahead for the tech sector, analysts said, after the tech bellwether warned that its customers were cautious about spending in a turbulent economy. The warning from Microsoft, the second most valuable U.S. company, came after a steep fall in client spending prompted tech heavyweights from Amazon.com…
Microsoft Cloud Outage Hits Users Around the World
January 25, 2023
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Microsoft Corp said on Wednesday it had recovered all of its cloud services after a networking outage took down its cloud platform Azure along with services such as Teams and Outlook used by millions around the globe. Azure’s status page showed services were impacted in Americas, Europe, Asia Pacific, Middle East, and Africa. Only services in…
The Washington Post Cuts 20 Newsroom Jobs
January 25, 2023
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Business & MarketsCompanieseconomyJeff BezoslayoffsMedia & Big TechrecessionUSUS NewsWashington Post
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The Washington Post announced that it will slash several positions in cutbacks, one week after the publication’s owner, Jeff Bezos, visited the offices. At least 20 newsroom staffers have been terminated, and 30 open positions will not be filled, according to a Jan. 24 note addressed to staff from the paper’s executive editor, Sally Buzbee. This is…
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