Elon Musk is sued by share holders
Elon Musk was sued by former Twitter Inc shareholders who claim they missed out on the recent run-up in its stock price because he waited too long to disclose a 9.2% stake in the social media company. In a proposed class action filed in Manhattan federal court, the shareholders said Musk, the chief executive of electric […]
KKR to buy cybersecurity firm Barracuda
KKR & Co Inc said that it plans to buy cybersecurity firm Barracuda Networks from its private equity owner Thoma Bravo, highlighting continued interest in cybersecurity businesses from buyout firms. The announcement, did not disclose financial terms. The deal valued California-based Barracuda Networks at about $4 billion, including debt. Dealmaking in cybersecurity has jumped in recent […]
Google to invest $9.5 BLN in US offices
Alphabet Inc’s Google said that it plans to invest about $9.5 billion across its U.S. offices and data centers this year, up from $7 billion last year. Google said that the investment will create at least 12,000 full-time jobs in 2022 and focus on data centers in several states including Nevada, Nebraska and Virginia. The company […]
Sony, Nintendo pledge ‘roll-over’ gaming contract changes in Britain
Britain’s competition regulator said that it had secured commitments from Japan’s Sony and Nintendo. This is to make it clear to customers how the companies automatically renew online gaming subscriptions. And that too after a three-year sector investigation. The Competition and Markets Authority (CMA) began its inquiry to check whether roll-over contracts for gaming services from […]
Meta to start testing money making tools
Facebook owner Meta Platforms is beginning to test tools for selling digital assets and experiences within its virtual reality platform Horizon Worlds. This is a key part of its plan for creating a metaverse. The tools will be available initially to ahandpicked set of users who are creating virtual classes, games and fashion accessorieswithin the company’s […]
Meta fumbled propaganda moderation during Russia’s invasion
Days after the bombing of a maternity and children’s hospital in the Ukrainian city of Mariupol, comments claimed that the attack never happened began flooding the queues of workers moderating Facebook and Instagram content on behalf of the apps’ owner, Meta Platforms. The bombardment killed at least three people, said Ukraine’s President Volodymyr Zelenskiy. Among […]
China uses AI software
Dozens of Chinese firms have built software that uses artificial intelligence to sort data collected on residents. This is amid high demand from authorities seeking to upgrade their surveillance tools. According to more than 50 publicly available documents examined, dozens of entities in China have over the past four years bought such software, known as […]
Samsung electronics Q1 profit tops market expectations
Samsung Electronics Co Ltd reported that an estimated 50% jump in quarterly operating earnings to post its highest first-quarter profit since 2018. This beats up the expectations as solid demand underpinned prices for memory chips. Earnings at the world’s largest memory chip and smartphone maker were also supported by brisk smartphone sales in the quarter. They […]
Departing Warner Media CEO Kilar
WarnerMedia CEO Jason Kilar said that the future of Hollywood is in the blockchain as he prepares to leave the media company that he helped lead into the streaming era. Kilar said that he saw new opportunities at the intersection of storytelling and technology. This is even though he declined to discuss his next pursuit. […]
Facebook owner Meta briefly blocks hashtags tied to Bucha Killings
Facebook owner Meta Platforms briefly restricted hashtags related to civilian deaths in northern Ukraine. This is where bodies of people shot at close range were found in a town seized back from Russian forces. The killings in Bucha, outside Kyiv, have drawn pledges of further sanctions against Moscow from the West. Meta spokesman Andy Stone said […]