Uber Technologies ( UBER ) is on the upswing ahead of its fourth-quarter results to be released before markets open Wednesday, with demand for its rides and deliveries up, fares higher and the number of drivers fully recovered from steep losses due to the pandemic. The company is on track to post the first profitable year in its history based…
Mark Zuckerberg's ambitions for the Meta universe still look like a money pit, which has cost Meta tens of billions of dollars over the past two years. The company's financial statements for the end of 2022 exacerbate previous large losses from Reality Labs, but Meta management remains committed to the venture. Meta's fourth-quarter 2022 financials show that its VR unit's…
Gold prices continued to rise Thursday, hitting a high in more than nine months after the Federal Reserve raised interest rates by an expected 25 basis points and comments from Chairman Jerome Powell were seen as dovish by the market. Spot gold rose 0.2% to $1953.76 an ounce as of 02:06 GMT after reaching its highest level since April 2022…
Intel shares closed down 6.4 percent Friday, a day after the company reported dismal quarterly and annual results . The chip maker's tepid quarterly results, with a 32% year-over-year decline in revenue and a net loss of $664 million for the fourth quarter of 2022, took analysts and investors alike by surprise. Intel's problems, including chip glut and weakening factory…
McDonald's reported Tuesday that U.S. customers are visiting its restaurants more frequently, helping the fast-food giant beat Wall Street estimates for fourth-quarter revenue and earnings. For the second quarter in a row, the company saw an increase in domestic traffic, contrary to the industry trend. Many consumers have cut back on restaurant spending in response to inflation. But McDonald's largely…
LG's Transparent TV ScreenLG's transparent TV screen is not so much about the TV, but about the future of technology. For example, LG already offers transparent screens in the form of doors for shopping centers or walls. Commercially, it looks like this. The TV is transparent, but it shows an image with a brightness of 400 nits.When an image is…
Users faced a cloud failure Wednesday that affected several products, including Teams and Outlook. The U.S. technology giant has now canceled a network change that it believes is responsible for the glitch that left users around the world unable to access several Microsoft 365 services earlier Wednesday. The company also said that some of its previously affected customers are now…
The upcoming smart glasses, Apple Glass, is expected to introduce and redefine AR for consumers in the west, giving you extensive AR apps for iOS in augmented reality glasses. This article will detail everything we know about Apple Glass, and we will update it as new information becomes available.Leaks about Apple Glass point to an announcement in 2023 with a…
"It's incredible to see how bitcoin reacted to the news of Genesis' bankruptcy," a prominent cryptocurrency columnist tweeted Monday, admiring the top cryptocurrency's restrained reaction to a statement from one of the largest institutional cryptocurrency lending companies for bankruptcy protection. Bitcoin (BTC), the leading cryptocurrency by market value, was trading in stasis at about $21,000, up 0.7% in 24 hours…
A look at which companies are making the biggest moves in the premarket: JPMorgan The bank reported fourth-quarter earnings and revenue before it even sounded a signal that beat Wall Street's expectations. Nevertheless, it said that a moderate recession is now a "major case." JPMorgan lost nearly 3% in initial trading. Lockheed Martin. Goldman Sachs downgraded the defense contractor from…
Chinese government agencies intend to buy so-called "golden shares" in units of Alibaba Group Holding Ltd. and Tencent Holdings Ltd., suggesting that Beijing is seeking to ensure greater control over key players in the world's largest Internet arena. The debate comes as Beijing prepares to loosen its grip on the sector and overcome the harsh crackdown that has engulfed almost…
By 2030, at least half of BMW Group vehicles worldwide will be fully electric. This follows from the main presentation of the German car manufacturer at the Consumer Electronics Show in Las Vegas, where BMW Chairman of the Board of Directors Oliver Zips on Wednesday presented a vision of the future of BMW, which is based on three main characteristics:…
Tim Cook, Apple's CEO, will cut his salary by more than 40 percent this year. According to the latest official announcement , Tim Cook's total compensation will be $99.4 million in 2022. His total salary was $13.4 million, including a $3 million salary, $83 million in stock and another $3.4 million in bonuses and incentives. Cook earned a total of…
OpenAI will likely use the investment to develop and scale its software and improve Microsoft products and services.The move is a gamble for Microsoft because OpenAI will inevitably face competition in the fast-growing and highly competitive field of artificial intelligence.According to Semafor sources, when Microsoft gets its money back, the deal will go to an ownership structure. Under this structure,…
The electric car company continues to advertise its Full Self-Redriving option, despite the recognition that the technology is not self-contained, it seems to violate a particular aspect of government regulations.California, Tesla’s main US market for electric cars, passed a new law in early 2023 that requires car manufacturers and dealers to avoid "misleading marketing" of partially automated driving technology as…
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