Sonos Inc was set to shed more than a fifth of its market valuation on Thursday after a revenue forecast cut fueled worries that consumers were dialing down purchases of its premium speakers in a turbulent economy. The stock tumbled 22% to $16.40 in early trading, hitting over a five-month low and on track to erase […]
Rivian Automotive Inc is betting it can keep prices high for its debut lines of electric pickup trucks and sport-utility vehicles even when competition swells, its CEO said, a bold move that may be necessary if the startup wants to make a profit. And one some see as risky, since Rivian products will soon face more […]
Google announced a flurry of artificial intelligence products – but users might need AI just to understand them all. The Alphabet Inc unit on Wednesday demonstrated or referenced at least 15 different AI products and features ranging from software solely for creating smartphone wallpaper to another for organizing personal files to yet another for photo editing. […]
Panasonic said on Wednesday that it will delay the commercial production of its 4680 battery cells championed by Tesla CEO Elon Musk and begin operations during the April to September period in 2024, later than previously scheduled, as the company aims to improve their performance. Tesla’s Japanese supplier, Panasonic, previously planned to start volume production for […]
JPMorgan Chase & CO CEO Jamie Dimon said on Thursday the bank is convening weekly meetings to discuss the implications of a potential U.S. default, according to an interview on Bloomberg TV. That bank’s so-called “war room” will probably start daily meetings on May 21, then ramp up to three times a day if the standoff […]
Microsoft Corp said on Friday it signed a 10-year deal with Nware to bring Xbox and Activision Blizzard games to the Spanish cloud-gaming platform, days after Britain blocked its $69 billion buyout of the “Call of Duty” maker. The agreement marks the latest effort by Microsoft to ease fears its purchase of Activision would hinder competition in […]
The Biden administration outlined efforts this week to address growing U.S. national security concerns on foreign companies’ handling of Americans’ data. Commerce Secretary Gina Raimondo said at a U.S. Senate hearing the department is working “to secure our communications and technology networks and we are right now in the process of hiring a team to […]
Chinese ride hailing giant Didi Global on Saturday reported a 19% year-on-year fall in 2022 revenue, as the country’s COVID lockdowns and a regulatory crackdown took a toll. In its first annual report since it delisted from the U.S. last year, Didi said its total revenue fell to 140.79 billion yuan ($20.37 billion) primarily “due […]
Twitter Inc CEO Elon Musk said on Friday that the social media platform will take a 10% cut on content subscriptions after the first year, as the company looks to monetize content on the website in a bid to diversify its revenue sources. Earlier this month, billionaire owner Musk said users of the social media platform will […]
Tesla’s Model S and Model X were not available for order in some Asia-Pacific countries, including Australia, Thailand, Singapore and New Zealand, the automaker’s website showed on Sunday. Other Tesla Inc models, such as Model 3 and Model Y were available in these countries, according to the website. It was not immediately clear why these models […]
