Apple is to introduce its “Tap to Pay” feature that enables merchants across the United States to use iPhones to accept Apple Pay, debit cards, credit cards, and other digital wallets by tapping their phones. No additional payment terminal or other hardware is necessary, according to the company. The service will be compatible with contactless…
Wall Street Loses Ground After Hot Inflation Data
U.S. stocks fell on Thursday, with Big Tech leading the declines after stronger-than-expected consumer prices data raised fears the Federal Reserve will act aggressively to counter inflation. The Labor Department data showed consumer prices leapt 7.5 percent in January on a year-over-year basis, topping economists’ estimates of 7.3 percent, leading to the biggest annual increase…
AT&T’s $43 Billion Plan to Merge WarnerMedia Unit With Discovery Is Given US Antitrust Clearance
February 10, 2022
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antitrustBusiness & EconomyCompaniesdiscoveryeconomyExecutive BranchMedia & Big TechPoliticsUSUS NewsWarnerMedia
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The U.S. Department of Justice on Wednesday approved AT&T’s $43 billion plan to merge its WarnerMedia unit with Discovery, the companies announced on Wednesday in a Securities and Exchange Commission filing. According to the filing (pdf), which was first obtained by TheWrap, Discovery and AT&T have “satisfied the closing condition” in the merger plan, which was initially announced on May 17,…
Wall Street Opens Higher on Big Tech Boost
U.S. stock indexes opened higher on Wednesday, with high-growth stocks rising as a recent rally in Treasury yields paused, while investors took comfort from upbeat earnings reports and signs of easing tensions in Ukraine. The Dow Jones Industrial Average rose 152.12 points, or 0.43 percent, at the open to 35,614.90. The S&P 500 opened higher…
EV Battery Giant LG Energy Solution Sees Demand Rising as Chip Shortage Eases
SEOUL—Battery maker LG Energy Solution Ltd (LGES) said on Tuesday it aims to boost sales by about 8 percent in 2022, forecasting a pick-up in demand for electric vehicle (EV) batteries as a global chip shortage eases later this year. The newly listed South Korean firm, which accounts for a fifth of the global EV…
Nissan Raises Profit Outlook but Sees Chip Limit to Growth
February 9, 2022
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Business & EconomyBusinesses in COVID-19chipCompaniesCOVIDeconomyMedia & Big TechNissanUncategorized
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TOKYO—Nissan Motor Co on Tuesday raised its full-year profit outlook as it squeezed out more profit per vehicle but said that access to scarce semiconductors would be the key driver of future earnings growth. Like other big global carmakers, Nissan has been forced to cut vehicle output, even amid robust demand in key markets such…
‘Instagram Kids Must End Permanently,’ Religious Leaders Plead With Zuckerberg
February 8, 2022
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Business & Economycaring for kidsCompaniesFacebookinstagramMedia & Big TechSocial IssuesSocial MediaTechTech NewsUSUS News
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Over 75 religious leaders from a variety of faiths have sent a letter to Meta CEO Mark Zuckerberg calling for scrapping the plan to introduce an Instagram version targeting kids under the age of 13, citing emotional, physical, and spiritual damages. “It may be tempting to ride the wave of cultural commodification and optimistically tout…
Meta Stock Crash Undermines Zuckerberg’s Fortune
Mark Zuckerberg has suffered a massive setback to his personal wealth, after a recent Meta Industries (formerly Facebook) stock disaster caused shares of the social media network to plummet. The damage occurred after Facebook released an underwhelming revenue forecast on Thursday, when Meta’s market cap shedded $232 billion dollars, falling from $879 billion on Wednesday…
S&P 500, Nasdaq Down After Mixed Results; Meta Weighs
The S&P 500 and the Nasdaq opened lower on Tuesday as mixed earnings and fresh declines in shares of Meta Platforms added to jitters ahead of inflation data this week that could offer clues on the U.S. Federal Reserve’s path of interest rates. The Dow Jones Industrial Average rose 69.55 points, or 0.20 percent, at…
EU Antitrust Authorities Take Metaverse Into Crosshairs as They Mull Regulatory Moves
European Union antitrust authorities are taking a hard look at the metaverse to better understand its implications for consumers and competition as they mull moves to regulate the budding network of virtual worlds. Margrethe Vestager, the EU’s antitrust tsar, told an online event organized by German newspaper publishers that the emergence of the metaverse—a digital…
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