Meta Platforms Inc (META.O) has recently launched its subscription service in the U.S., which would allow Facebook and Instagram users to pay for verification a la Elon Musk-owned Twitter. The Meta Verified service will give users a blue badge after they verify their accounts using a government ID and will cost $11.99 per month on the web or $14.99 a […]
Meta Platforms, Inc., doing business as Meta and formerly named Facebook, Inc., has announced that it will cut 10,000 jobs. The cuts come less than six months after the company disclosed 11,000 layoffs in November as CEO Mark Zuckerberg seeks to make the business more efficient. Meta’s chief executive officer, Mark Zuckerberg, said the cuts would be tough and were […]
According to press reports, the Biden administration is threatening a potential ban of TikTok in the United States if its Chinese owners refuse to sell their stakes in the video-sharing app. The administration’s demand, first reported by the Wall Street Journal, signals a significant shift in the U.S. stance toward Beijing-based ByteDance Ltd., which owns the popular video-sharing app. In […]
If you use the internet quite a bit, you have most likely come across the subject of VPNs. And perhaps you are wondering if you need one. Do you really need a virtual private network? Well, if you use the internet a bit, the short answer is yes. But first, what is a VPN? VPN is short for “Virtual Private […]
The U.S. regulators have stepped in to shut down the operation of Silicon Valley Bank. The regulators sought to take control of the bank to protect customer deposits and prevent a collapse in the financial system, as happened in 2008 when the banking sector experienced its largest banking failure. The moves came as the firm, a key tech lender, was […]
The Chinese government set its 2023 growth target for its economy at around 5%, according to a government work report released at the opening of the country’s annual meeting of parliament on Sunday, as the world’s second-biggest economy began to emerge from three years of severe COVID-19 restrictions. That compares with its 2022 target of around 5.5%. The Chinese economy […]
The number of Americans filing new claims for unemployment benefits continue to show a decline. This shows sustained labor market strength and, by extension, adds to financial market fears that the Federal Reserve could keep hiking interest rates for longer. Those worries were further heightened by another report from the Labor Department that points to a falling trend. It showed […]
U.S. home prices are expected to decline modestly this year. U.S. analysts polled by media company Reuters say the decline is due to a drop in demand despite expectations of rising interest rates. The Federal Reserve is expected to raise rates at least two more times this year after already increasing rates by 450 basis points from near zero in […]
Video conferencing platform Zoom has sacked its president, Greg Tomb, a former Google executive. According to the company in a regulatory filing, Mr. Tomb’s contract was abruptly terminated without cause. The businessman had taken up the role in June 2022 and had been active on earnings calls and overseeing the company’s sales. A spokesperson for Zoom said the tech firm […]
US-based electric vehicle manufacturer Tesla has issued a recall for more than 362,000 US vehicles to update the Full Self-Driving Beta or test software. This comes after US regulators said the driver assistance system did not adequately adhere to traffic safety laws and could cause crashes. The National Highway Traffic Safety Administration (NHTSA) said the Tesla software allows a vehicle […]
