TECH08

FTX founder Bankman-Fried objects to tighter bail, says prosecutors ‘sandbagged’ him

NEW YORK, Jan 28 (Reuters) – Lawyers for Sam Bankman-Fried on Saturday urged a US judge not to ban the indicted FTX cryptocurrency executive from communicating with former colleagues as part of his bail, saying prosecutors “sandbagged” the process to put their client in the “worst possible light.” The lawyers were responding to a Friday …

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Wall Street ends higher, notches weekly gains as Fed meeting looms

PCE: inflation cools along with consumer spending American Express, Visa climb higher on solid demand Chevron falls after missing profit estimates Indexes up: Dow 0.08%, S&P 0.25%, Nasdaq 0.95% NEW YORK, Jan 27 (Reuters) – Wall Street advanced on Friday, marking the end of an rocky week in which economic data and corporate earnings guidance …

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EV maker Lucid surges on report Saudi PIF to buy remaining stake

Jan 27 (Reuters) – Lucid Group’s (LCID.O) shares surged 43% on Friday, paring gains after doubling on market speculation that Saudi Arabia’s Public Investment Fund (PIF) wanted to buy out the electric vehicle maker. The speculation originated from an “uncooked” alert attributed to deals website Betaville, using its term for market gossip. Lucid was the …

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Intel’s ‘historic collapse’ triggers selloff in chip stocks

Jan 27 (Reuters) – Five of the biggest US chipmakers were set to erase nearly $15 billion in market value on Friday after Intel Corp (INTC.O) stumped Wall Street with dismal earnings projections, fanning fears around a slump in the personal-computer market. The company predicted a surprise loss for the first quarter and its revenue …

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US lawsuit against Google could benefit Apple and others

Jan 26 (Reuters) – A landmark argument by the US Justice Department against Alphabet’s (GOOGL.O) Google over its dominance of advertising technology could help rivals and websites that sell ad space, but leaves an uncertain future for the advertisers themselves, experts told Reuters. The Justice Department’s complaint against Google on Tuesday called for the company …

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Sony’s gaming chief met EU’s Vestager on Microsoft’s Activision deal -source

BRUSSELS, Jan 26 (Reuters) – Sony’s gaming chief Jim Ryan met EU antitrust chief Margrethe Vestager on Wednesday to discuss Microsoft’s (MSFT.O) $69 billion bid for “Call of Duty” maker Activision Blizzard (ATVI.O), a person familiar with the matter said on Thursday. The meeting came as the EU competition watchdog prepares to warn Microsoft this …

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BuzzFeed soars on reports of Meta deal, plans to use OpenAI

Jan 26 (Reuters) – Shares of BuzzFeed Inc (BZFD.O) jumped on Thursday on reports of a deal with Meta Platforms Inc (META.O) and plans to use artificial intelligence to personalize and enhance the digital media firm’s online quizzes and content . The stock was 19% higher in extended trading, after more than doubling in value …

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Musk outlines Tesla’s recession playbook: claw back costs

Jan 26 (Reuters) – Elon Musk has a playbook for Tesla (TSLA.O) headed into what he believes will be a “serious” recession: cut costs on everything from parts to logistics, while keeping the pressure on competitors with discounted sticker prices . In a conference call to discuss Tesla’s fourth-quarter results, Musk and other executives outlined …

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Musk says Tesla price cuts triggered demand, 2023 sales could hit 2 mln vehicles

Jan 25 (Reuters) – Tesla Inc’s (TSLA.O) aggressive price cuts have ignited demand for its electric vehicles, Chief Executive Elon Musk said on Wednesday, playing down concerns that a weak economy would throttle buyers’ interest. The company slightly beat Wall Street targets for fourth-quarter revenue and profit earlier on Wednesday despite a sharp decline in …

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