Amazon has become the first publicly traded company in history to lose $1 trillion in market valuation amid a volatile economy that has sparked a broad tech selloff. The Jeff Bezos-founded company, valued close to $1.88 trillion on July 2021, saw its shares fall 4.3 percent on Wednesday, pushing its market value down to $878 billion. Amazon stock…
Amazon Makes History After Losing $1 Trillion in Market Value Amid Tech Stock Rout
November 10, 2022
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AmazonBusiness & MarketsCompanieseconomyFacebookInvestmentMarketsMedia & Big TechrecessionSharesstocksUSUS News
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Tech Job Cuts Accelerate to Near Pandemic-Era Levels
Job cuts in the tech sector have accelerated close to levels last seen in the first months of the pandemic, as the industry prepares for a downturn in the months ahead. Big tech companies like Meta, Google, Amazon, Twitter, and Apple have all announced a massive number of layoffs and hiring freezes, according to a…
COVID-19, GMOs, Climate Change: Expert Says Suppression of Dissent in Scientific Circles Is Nothing New
November 9, 2022
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AustraliaBig Tech, Censorship, and SocialismBrian MartinBusiness & MarketsCCP Viruscensorshipclimate changeCompaniesenergyFeatured TopicsGMOsMedia & Big Technuclear winterpesticidesTechTech NewsUSWorld
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Whether it’s pesticides, genetically modified foods, AIDs, or COVID-19, the silencing of debate occurs regularly in scientific circles, particularly with big contentious issues, says Prof. Brian Martin of Social Sciences at the University of Wollongong. Martin recently co-authored a study into COVID-19 censorship revealing the “extreme and unprecedented” measures used by governments, medical boards, media…
Tesla Voluntarily Recalls Over 40,000 Vehicles Over Potential Power Steering Fault
Electric vehicle maker Tesla is voluntarily recalling over 40,000 of its Model S and Model X vehicles, citing concerns over a potential loss of power steering assist, according to a filing earlier this month with the National Highway Traffic Safety Administration. The filing, made public on Tuesday, states that the recent 2022.36 firmware update has “changed calibration…
Twitter to Introduce ‘Official’ Label for Some Verified Accounts
Billionaire Elon Musk’s social media platform Twitter will introduce an “Official” label for select verified accounts including major media outlets and governments when it launches its new $8 premium subscription product, its early stage products executive Esther Crawford said on Tuesday. Crawford also confirmed that the revamped Twitter Blue subscription product, which will allow paid…
World Stocks Stall as US Midterms Too Close to Call
November 9, 2022
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Business & MarketsCompaniescryptocurrencyeconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsMedia & Big Techrecessionstocks
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LONDON—World stocks stalled below recent seven-week highs on Wednesday, while the dollar rose as investors awaited the results of the closely watched U.S. midterm election. Bitcoin, the biggest cryptocurrency by market value, fell as much as 5 percent, a day after sliding 11 percent. European stock markets and U.S. futures were lower, Meta Platforms Inc….
Facebook Parent Meta to Cut Over 11,000 Jobs as Zuckerberg Admits He Got Trends ‘Wrong’
November 9, 2022
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Business & MarketsCompanieseconomyFacebookinflationjobsMedia & Big TechmetarecessionSocial MediaTechTech NewsUSUS News
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Facebook parent company Meta will slash 13 percent of its staff, or more than 11,000 employees, as it faces a revenue crunch as advertisers pull back amid high inflation and a wobbly economy. Meta CEO Mark Zuckerberg announced the cuts in a Nov. 9 blog post, in which he took blame for overestimating the company’s growth…
Elon Musk Sells Another $3.95 Billion Worth of Tesla Shares After Twitter Takeover
November 9, 2022
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Business & MarketsCompanieseconomyElon MuskInvestmentMarketsMedia & Big TechstocksteslaTwitterUSUS News
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Elon Musk has sold millions more shares in Tesla, according to three separate forms filed with the Securities and Exchange Commission this month. CEO Musk sold 19.5 million shares of the electric vehicle maker, worth $3.95 billion, from Nov. 4 to Nov. 8, the filings show. The share sell-off comes after Musk took over social media platform Twitter in…
British MP Withdraws Amendment That Would Have Stopped Digital Payment Firms Withholding Service Over Political Views
An MP who wanted to make it illegal in the UK for companies like PayPal to demonetise customers for political reasons has removed her amendment, saying that the issue needs to be looked at by the British government in more detail. On Nov. 3, Conservative MP Sally-Ann Hart presented an amendment to the Financial Services…
Musk Tells Mark Ruffalo ‘Not Everything AOC Says Is Accurate’
November 8, 2022
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Business & MarketsCompaniesElon MuskMark RuffaloMedia & Big TechRep. Alexandria Ocasio-CortezSocial MediaTechTwitterUSUS News
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The spat between Elon Musk and Rep. Alexandria Ocasio-Cortez (D-NY.) is heating up after actor Mark Ruffalo’s involvement. The tech billionaire told Ruffalo on Nov. 5 that “not everything AOC says is accurate.” Musk earlier this month sparked backlash over a plan to charge $8 per month for a subscription service, dubbed “Twitter Blue,” to…
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