Yahoo Inc. said Tuesday it has pulled out of China, citing an increasingly challenging operating environment. The withdrawal was largely symbolic, as many of the company’s services were already blocked by China’s digital censorship. But recent government moves to expand its control over tech companies generally, including its domestic giants,… Read More
World’s richest man calls $6 billion bluff
Elon Musk, the richest person in the world, says he will sell $6 billion worth of Tesla stock and donate the proceeds to the United Nations’ food agency if it could show how the money would solve world hunger. His statement came after U.N. World Food Programme Executive Director David… Read More
Fed to try curbing inflation by cutting economic aid
With inflation at its highest point in three decades, the Federal Reserve is set this week to begin winding down the extraordinary stimulus it has given the economy since the pandemic recession struck early last year, a process that could prove to be a risky balancing act. Chair Jerome Powell… Read More
John Kerry cashing in on slave labor?
“On the Holmes Front,” with Frank Holmes Former Secretary of State John Kerry may not be popular, but there is no denying that he’s got a head for numbers. He was smart enough to marry an incredibly wealthy woman and live off her fortune. And he’s used the wealth they’ve… Read More
Stocks pulled down by Big Tech
Stocks are falling at the open on Wall Street Friday, following European and Asian markets lower as leaders of the Group of 20 large and fast-growing economies meet in Rome to confront a faltering recovery. Some Big Tech stocks were dragging major indexes off record highs set earlier in the… Read More
Distressed Chinese developer makes delayed bond payment
A troubled Chinese developer whose struggle to avoid a multibillion-dollar debt default has rattled global financial markets made an overdue $45.2 million payment on a bond Friday, one day before it would have been declared in default, a newspaper reported. Evergrande Group made the payment on a $951 million bond… Read More
Amidst multiple crises, Facebook Inc. renames itself Meta
Like many companies in trouble before it, Facebook is changing its name and logo. Facebook Inc. is now called Meta Platforms Inc., or Meta for short, to reflect what CEO Mark Zuckerberg said Thursday is its commitment to developing the new surround-yourself technology known as the “ metaverse.” But the… Read More
Biden nixes paid family leave amid Democrat infighting
President Joe Biden traveled to Capitol Hill early Thursday to make the case to House Democrats for a dramatically scaled-back domestic policy package, $1.75 trillion of spending package the White House believes can pass the 50-50 Senate. Biden is eager to have a deal in hand before he departs later… Read More
Facebook exec not happy with whistleblower claims
Monika Bickert, Facebook’s head of global policy management, says the social media giant does not prioritize engagement and user growth over safety. That contradicts Senate testimony by whistleblower Frances Haugen, who claims Facebook knows its systems harm vulnerable people and hasn’t made meaningful changes to prevent it. The platform is… Read More
Liberal city may “re-fund” the police
Austin, Texas slashed its police budget in August 2020. The city council lowered the budget from $434.5 million to $292.2 million as part of the “defund the police” movement. Local governance slashed the budget by about a third… all with little input from voters. Now, voters want a say —… Read More
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