MUMBAI—Billionaire entrepreneur Elon Musk’s Starlink satellite internet venture told its members on Tuesday the Indian government had asked the company to refund all its pre-orders until it receives licences to operate in the country. “As has always been the case, you can receive a refund at any time,” the company said in an email to…
Musk-Backed Starlink to Refund Pre-Orders in India After Government Order
India Court Dismisses Future’s Plea to Declare Arbitration With Amazon Illegal
MUMBAI—An Indian court on Tuesday dismissed Future Retail’s plea to declare arbitration proceedings with its warring partner Amazon.com Inc. as illegal. The ruling came after Future urged a New Delhi judge that given India’s antitrust agency had suspended a 2019 deal used by Amazon to assert rights over Future, there was no legal basis for…
Sen. Rand Paul Leaves YouTube for Rumble
Sen. Rand Paul (R-Ky.) on Monday announced he’s leaving YouTube as part of a larger effort to break away from Big Tech. “Many in Congress, on the Left and the Right, want to break up or regulate Big Tech, but few of these loud voices have actually stepped up and quit using Big Tech,” Paul…
Treasury Office Settles With Airbnb For Violating Cuban Embargo
January 4, 2022
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The U.S. Treasury Department has reached a settlement with Airbnb for apparent violations of sanctions against Cuba by the company that included unauthorized processing of payments and failure to maintain specific Cuba-related records. Airbnb agreed to remit $91,172.29 and settle its potential civil liability with the U.S. Department of the Treasury’s Office of Foreign Assets…
Classic BlackBerry Devices Will No Longer Work After Jan. 4, Marking End of an Era
Classic BlackBerry devices running on OS 7.1 or earlier will no longer be supported after Jan. 4, meaning the phones will effectively be rendered useless. The company reminded customers of the change in a notification on Dec. 22. “As a reminder, the legacy services for BlackBerry 7.1 OS and earlier, BlackBerry 10 software, BlackBerry PlayBook OS 2.1 and…
Apple Becomes First Company to Hit $3 Trillion Market Value, Then Slips
Apple Inc. on Monday became the first company to hit a $3 trillion stock market value, before ending the day a hair below that milestone, as investors bet the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality. On the first day of trading in…
Facebook Reverses Course After Backlash for Permanently Locking Account of Conservative Children’s Book Publisher
January 4, 2022
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Facebook on Monday allowed a children’s book publisher access to its account after claiming it was permanently blocked from the social media platform. Facebook told Heroes of Liberty, the publishing company, that because of the “disruptive content” they posted, the account was locked for good. But Andy Stone, a communications officer for Facebook parent company…
Piper Sandler Bumps Up Broadcom Price Target by 10.3%
Piper Sandler analyst Harsh Kumar raised the price target on Broadcom Inc. to $750 from $680 and reiterated an Overweight. The price target implies a 12.7 percent upside to December 31, 2021 closing price. Kumar changed his overall posture about the semiconductor industry in 2022. Kumar feels the new year will be a stock picker’s market with specific areas…
Mercedes-Benz Unveils 1,000 Km-per-Charge VISION EQXX Prototype
January 4, 2022
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FRANKFURT—Mercedes-Benz on Monday took the wraps off its battery-powered VISION EQXX prototype which it says will have a range of more than 1,000 kilometres (km) per charge, taking a big stride in its electric vehicle (EV) ambitions. Daimler, soon to be rebranded Mercedes-Benz, announced plans in 2021 to invest more than 40 billion euros ($45…
This Day in Market History: Jobs and Wozniak Incorporate Apple Computer Corp
Each day, Benzinga takes a look back at a notable market-related moment that happened on this date. What Happened? On Jan. 3, 1977, Steve Jobs and Steve Wozniak incorporated Apple Computer Corp. Where Was The Market? The S&P 500 was trading at around 107.0 and the Dow Jones Industrial Average was trading at 999.75. What…
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