Business & Economy: 8 of 10
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141.
+26
Apple is now the first publicly traded company to close above a $3 trillion market value
Apple is the first publicly traded company to close a trading day with a $3 trillion market value. The company’s shares climbed about 2.31% on Friday to a new high. The tech giant first reached a $3 trillion market cap back in January 2022, but failed to close at that level.
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142.
+30
Amazon beats expectations in first quarter earnings as shares jump 11%
E-commerce behemoth, in the midst of aggressively cutting costs including laying-off 27,000 workers, reported revenue growth
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143.
+27
Judge denies Amazon’s, Apple’s motions to dismiss class action price-fixing suit
A federal judge has rejected Apple's and Amazon's motions to wholly dismiss a consumer antitrust lawsuit, one that accuses the tech giants of colluding to eliminate all but the highest-price Apple products in Amazon's online store. Writing in Seattle (PDF), Judge John C. Coughenour noted that Apple and Amazon do not dispute the existence of their agreement, which was publicly touted by the companies in November 2018. Nor do they argue that it had an "effect on interstate commerce," as required by a lawsuit making a complaint under the Sherman Act.
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144.
+29
Don't replace your people with ChatGPT or other AI services
I cannot believe how stupid companies can be regarding generative AI ChatGPT and the like are not ready to replace workers.
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145.
+26
Ryan Murphy Leaving Netflix, In Talks To Return To Disney
Ryan Murphy looks to be heading back to Disney. Murphy is set to leave Netflix at the end of his five-year overall deal, which was understood to be worth around $300M. Deadline has confirmed that he’s in talks with Disney, although no deal is yet signed.
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146.
+29
Shopify to reduce workforce by 20%, sells logistics business to Flexport for 13% equity
Shopify is laying off 20% of its workforce, impacting some 2,000 people, and is selling its logistics business to Flexport for 13% in stock.
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147.
+27
Reddit’s API pricing results in shocking $20 million-a-year bill for Apollo
Reddit is an enormously popular website, but the official design has always needed some reworking. This is even more true of the mobile experience, which didn't have a mobile app until 2016, and even then, not everyone's a fan of it. The site's popularity rose partly thanks to third-party developers filling in the gaps with pre-existing and better mobile apps.
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148.
+25
Tesla reported 466,140 deliveries for the second quarter, and production of 479,700 vehicles
Tesla just posted its second-quarter vehicle production and deliveries report for 2023.
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149.
+29
Some Apple staff are sounding off about Tim Cook's back-to-office drive and say it's 'silly, and very un-Apple'
Some Apple staff are not happy about CEO Tim Cook's back-to-the-office drive, which he's previously said was essential for the company. The iPhone maker emailed employees in March threatening to take action against those not going in at least three days a week.
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150.
+26
Banana disease that wipes out plantations detected on Queensland farm
The fungal disease Panama TR4, which has no known cure or treatment, is confirmed on an eighth property in the Tully Valley.
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151.
+29
Microsoft / Activision deal prevented to protect innovation and choice in cloud gaming
The CMA has prevented Microsoft’s proposed purchase of Activision over concerns the deal would alter the future of the fast-growing cloud gaming market, leading to reduced innovation and less choice for UK gamers over the years to come.
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152.
+30
The challenges of shadow IT in a bring-your-own-cloud world
A long time ago, in an IT company far, far away, I would carry in a Compaq Portable so I could get my work done. | Bring your own cloud is a thing, and it's a headache.
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153.
+28
The downfall of Brydge: iPad keyboard company folds, leaving staff unpaid and customer orders unfulfilled
Brydge, a once thriving startup making popular keyboard accessories for iPad, Mac, and Microsoft Surface products, is ceasing operations. According to nearly a dozen former Brydge employees who spoke to 9to5Mac, Brydge has gone through multiple rounds of layoffs within the past year after at least two failed acquisitions.
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154.
+25
Should SMBs worry about a recession?
In a word, no. Companies that think they have to pull back on investments and cut head count are on the wrong track.
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155.
+26
Fidelity has cut Reddit valuation by 41% since 2021 investment
Fidelity, the lead investor in Reddit's most recent funding round, has cut the estimated value of its stake in the social platform by 41%.
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156.
+24
Laser “death ray” kills weeds 80x faster than humans
This farming robot kills 200,000 weeds per hour with lasers.
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157.
+26
Massive amount of funds reportedly poured into Apple high-yield savings accounts upon rollout
A massive amount of funds reportedly got poured by Apple credit cardholders into the high-yield savings accounts offered by the tech giant with Goldman Sachs upon their rollout. The amount of deposits the Apple savings accounts saw in the four days after they became available reached up to $990 million, Forbes reported Monday. The outlet cited a pair of anonymous sources for the figure.
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158.
+27
Big Tech Is Taking Cues From Big Tobacco’s Playbook
Alongside tireless political lobbying, Big Tech has infiltrated the academic institutions studying and often promoting AI — with little regard for the potentially catastrophic downsides.
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159.
+23
Pence mocked for saying ‘I don’t really buy the rich need to pay their fair share’
Former Vice President Mike Pence has been mocked for saying the quiet part out loud about taxing the rich, during a campaign stop. “I don't really buy into the rich need to pay their fair share,” he told an audience of potential Republican primary voters.
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160.
+20
China is too big for a Soviet Union-style collapse, but it’s on shaky ground
With its growth slowing, China’s future is uncertain. We should be grateful if the change is not sudden