New Zealand intends to require large tech companies like Google and Meta to compensate local media companies for content they use and share on their platforms. Willie Jackson, New Zealand’s minister of broadcasting, announced Sunday that legislation is being drawn up that will be based on a similar law in Australia, as well as pending…
The tech industry continued to add jobs despite the tens of thousands of layoffs that were announced in November, though tech job postings continued a downward slide, according to an analysis of U.S. employment numbers released Friday. U.S. tech companies actually added 14,400 workers in November, according to the Computing Technology Industry Association, or CompTIA,…
Google parent Alphabet Inc. must “take aggressive action” to cut costs, according to an activist investor. Christopher Hohn, the managing director of TCI Fund Management, penned a letter to Alphabet GOOG, +2.80% GOOGL, +2.86% Chief Executive Sundar Pichai Tuesday urging him to lower the company’s expense base, reduce losses in the Other Bets unit, and…
Arista Networks Inc. is enjoying revenue growth fueled by the so-called “cloud titans” led by Meta Platforms Inc. and Microsoft Corp. But at least one analyst warns that this could be a double-edged sword for Arista. Cloud-software and data-center supplier Arista ANET, +3.37% reported third-quarter earnings and outlook that topped Wall Street’s relatively low consensus…
Big Tech companies are taking a heavy beating this week, to the tune of more than $255 billion in lost market capitalization that’s helped make a bad year even worse for the once-beloved sector. The five tech giants that posted results this week have now lost a combined $3 trillion in market cap on the…
The biggest week of third-quarter earnings season will also likely be its most anxiety-ridden, as an onslaught of onetime surefire tech giants prepare to report amid staffing cutbacks and signs of slowing demand for digital ads, e-commerce and smartphone sales. The dyspepsia for tech investors begins Tuesday, with earnings from Microsoft Corp. MSFT, +2.53% and…
The third-quarter earning season kicks off this week with the first reports from big banks and investors can expect many of the same themes and talking points seen earlier this year. Inflation, supply-chain snags, the strong dollar and consumer spending are all expected to feature prominently in releases and on conference calls with analysts, along…
Google CEO Sundar Pichai reportedly grew agitated during a “heated” all-hands meeting in which an employee asked why the search engine was nickel-and-diming workers by taking away perks and benefits. One worker summoned the nerve to ask Pichai why Google was “nickel-and-diming employees” when the company reported “record profits and huge cash reserves,” according to audio…
When a McDonald’s worker has a beef with their boss, complaining to McDonald’s Corp. won’t help. When an employee at Google has a problem, they likely can’t seek out a Google manager — their manager usually works for a vendor hired by the tech giant. Large American companies have used the franchise model, like at…
YouTube’s top business executive, who helped build the Google unit from an upstart into a video giant, is leaving the company as it battles slowing growth and increased competition from TikTok. Robert Kyncl will exit his position as chief business officer after more than a decade at the video platform, YouTube Chief Executive Officer Susan Wojcicki wrote in…
Service workers at Silicon Valley tech giants fear that as the companies cut back, they could be among the first to lose their jobs. “The frustration at this time, as we think about equity, is that the [essential] workers who were most vulnerable during the pandemic are also now most vulnerable as we exit the…
Billionaire entrepreneur Mark Cuban loves cryptocurrency and Web3 technology, but thinks buying digital real estate in the metaverse is not a good idea. “The worst part is that people are buying real estate in these places,” Cuban told YouTube channel Altcoin Daily this week. “That’s just the dumbest shit ever.” Cuban, who is one of…
Google’s search engine experienced a rare outage Monday night. Google Search inquiries generated an error message for many people around the world, from the U.S. to the U.K. to Singapore, according to data from DownDetector. Users saw either a 500 or 502 error message. “The server encountered an error and could not complete your request,”…
Elon Musk engaged in a brief affair last fall with the wife of Sergey Brin, prompting the Google GOOGL, -5.63% GOOG, -5.81% co-founder to file for divorce earlier this year and ending the tech billionaires’ long friendship, according to people familiar with the matter. Their falling out is one of a string of personal issues Musk has…
U.S. stocks rose sharply Tuesday, with the main benchmarks seeing their strongest advance in a month, while small caps recorded their best performance in more than 18 months. How stocks traded The Dow Jones Industrial Average DJIA, +2.43% was up 754.44 points, or 2.4%, to 31,827.05, according to Dow Jones Market Data, the largest gain…
Employers that insist workers return to the desk five or even four days a week are facing tough resistance. When Goldman Sachs GS, -0.71% CEO David Solomon ordered his bankers to their desks full time, just 505 of his base employees showed up. Subsequently, young bankers were threatening to quit and otherwise complaining on message boards. Other investment bankers…
Alphabet Inc.’s Google on Friday said it would delete its members’ location history whenever they visit an abortion clinic, domestic violence shelter, fertility center or other similarly-sensitive place. The change, expected to take effect in coming weeks, was announced in a blog post. “If our systems identify that someone has visited one of these places,…
Mention semiconductors and chip giants such as Intel Corp., Advanced Micro Devices Inc. and NVIDIA Corp. spring to mind, but there are other, less high-profile companies, operating in the space that deserve attention. The pandemic has kept semiconductors firmly in the spotlight as a host of industries, from consumer technology to the automotive sector, wrestle…
Despite a flurry of macroeconomic pressures, Wall Street analysts still feel very bullish about the stocks they cover. That’s according to FactSet’s senior earnings analyst, John Butters, who noted that the number of buy ratings on stocks remains “unusually high,” despite broader-market concerns about inflation, interest rate hikes, the war in Ukraine, falling stock prices…
Google has agreed to pay $118 million to settle a class-action gender discrimination lawsuit to about 15,500 female employees. In a statement Friday, attorneys for the plaintiffs said Google — a unit of Alphabet Inc. GOOGL, -3.20% GOOG, -3.04% — will also provide an independent third-party labor economist to analyze the company’s pay equity and…