Investors wiped more than $65 billion from Meta’s market capitalization on Wednesday after the Facebook owner reported another quarter of declining revenues and failed to convince investors that big bets on the metaverse and artificial intelligence were paying off. Shares in Meta dropped 19 percent in after-hours trading as the world’s largest social media platform...
In context: Could Mark Zuckerberg’s bet on the metaverse be his downfall? Facebook parent company Meta has seen $65 billion wiped off its market value as profits halved during the last quarter and it continues to pour money into projects many have little faith in. The company’s declining value, which is down $520 billion over...
Ye returned to Instagram early Thursday morning for the first time since he made antisemitic posts that ignited a wave of backlash. The posts were made hours after the rapper, formerly known as Kanye West, was escorted out of the Skechers headquarters and amid several businesses severing their ties with the artist. In his first...
The oil and gas giant said it had avoided Britain’s “windfall” tax because of big capital expenditures in the North Sea.#Shell #Reports #Earnings #Billion Source link
Once a self-driving darling, Argo AI is shutting shop. When the Pittsburgh firm burst onto the scene in 2017, it drew attention and backing from two massive automakers—US manufacturer Ford and German brand Volkswagen (VW). On the road, it’s charged ahead with tests in US and Germany, as well as driverless cars ferrying its own...
WSJ News Exclusive Deals Mr. Musk sends borrowing notice, kicking off process to complete the $44 billion deal #Elon #Musks #Twitter #Takeover #Close #Hand #Banks #Turn #Billion #Cash Source link
Meta Platforms Inc.’s Instagram now has 2 billion monthly active users worldwide, closing in on the 2.96 billion who use Facebook, in a sign of the social media giant’s shifting makeup. The company disclosed the number during an otherwise-gloomy earnings report Wednesday, when a shaky ad market clouded Meta’s forecast and sent...
The auto maker intends to absorb several hundred workers from the startup, which is shutting down.#Ford #Posts #Loss #Takes #Billion #Charge #Argo #DriverlessVenture Source link
The Biden administration announced Wednesday that it would send nearly $1 billion to school districts to buy more than 2,300 electric school buses. The chunk of funds—from last year’s bipartisan infrastructure law—is an historic investment in the country’s young fleet of school buses that run on batteries. It will more than quadruple the current fleet...
The world’s richest man arrived at Twitter’s San Francisco offices on Wednesday as he faces a Friday deadline to complete the acquisition of the social media service.#Elon #Musk #Visits #Twitter #Billion #Deal #Nears #Completion Source link