Tag Archives: Business News

In addition to the series of layoffs, Spotify was forced to cancel 11 original podcasts from its in-house studios including ‘How to Save a Planet’, ‘Crime Show’, and ‘Medical Murders’. Music streaming platform Spotify Technology SA (NYSE: SPOT) has announced plans to cut its workforce by 2% leaving up to 200 employees without jobs. According to the announcement, Spotify is carrying out this exercise as part of an effort to diversify how the company handles partnerships with podcasters...

Observers are watching Apple stock, expecting that it would spike as Apple announces a new headset for augmented or virtual reality. Apple Inc (NASDAQ: AAPL) stock is on track to open at a possible all-time high as the tech giant prepares to launch its first-ever augmented reality (AR) and virtual reality (VR) headset. The launch is considered by many as one of Apple’s most significant product launches in the company’s nearly 50-year history. AAPL has climbed over 1% to more than $182...

Neuralink, the brain-computer interface company founded by Elon Musk, reached a valuation of $5 billion after gaining approval for human trials, increasing by over 150% in less than two years. Neuralink, the American neurotechnology company dedicated to the development of brain-computer interfaces, founded by Elon Musk, reached a valuation of $5 billion in private share transactions, according to several sources interviewed by Reuters. The startup of billionaire Elon Musk achieved this...

XRP’s lawyer thinks the outcome could be determined by September based on recent events. In light of this, Ripple is allegedly meeting with investors to discuss their interest in an IPO. As its legal battle related to XRP with the Securities and Exchange Commission (SEC) draws to a close, there are rumors that Ripple may conduct an IPO. Wall Street expert Linda Jones hinted at the possibility by outlining the advantages of a potential initial public offering. Linda used information from...

As part of a government-backed rescue plan earlier this year as well as a bid to prevent any financial market instability, UBS acquired Credit Suisse in a $3.2 billion deal. The long-awaited conclusion of the Credit Suisse Group AG (SWX: CSGN)  acquisition by investment banking giant UBS Group AG (SWX: UBSG) may happen “as early as June 12”. This will signify the birth of a massive Swiss bank with a balance sheet of $1.6 trillion. All that is left for the deal to be completed is its...

Through its privacy commission, Japan issued a warning and threatened to take action against OpenAI if it violates any privacy regulation. Japan’s privacy agency has announced it issued a warning to OpenAI on using or collecting user data. The Personal Information Protection Commission (PPC) urged the ChatGPT creator to only collect sensitive information with consent from users. In the statement, the privacy watchdog suggests it is currently not investigating OpenAI for any breach of...

The debt ceiling bill’s approval provided even another reason for the positive rally in stock futures. In an exciting development, US stock futures have continued to soar as traders make meaning of the highly anticipated May jobs report and celebrated the passing of a debt ceiling bill by United States lawmakers. According to reports, futures on the Dow Jones Industrial Average (INDEXDJX: .DJI) rose by 180 points or 0.5%. Similarly, futures connected to both the S&P 500 (INDEXSP:...

The fake $OPENAI token tweet remained active for about an hour. Another story of hackers compromising the Twitter accounts of famous personalities to steal crypto has come to light with the news that OpenAI Chief Technology Officer Mira Murati’s account was hacked. A yet-to-be-identified entity managed to gain unauthorized access to her account. The hacker used Mira’s Twitter account to promote a fake $OPENAI token airdrop, claiming that the token was motivated through AI-based language...

Morphing from Twitter into X, the new super app will offer users multiple services and will effectively be the WeChat of the West. Twitter CEO Elon Musk has confirmed that the microblogging website will rebrand to X sometime in the near future. Elon Musk responded with “True” to a tweet announcing the forthcoming rebranding. According to the tweet, the new X platform will do much more than allow users to send short tweets. Users will be able to enjoy long text, messaging, video, and...

The Asia-Pacific markets displayed a positive trend, with gains observed in South Korea, Japan, mainland China, and Australia. The Hong Kong stock market featuring indices like the Hang Seng Index (INDEXHANGSENG: HSI) experienced a notable bullish surge in its recent trading session, as investors eagerly await the US May jobs report. The Hang Seng Index finished 4.02% higher at 18,949.94, creating significant market excitement and investor optimism. According to reports, the consumer...