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Tag Archives: microsoft

Qualcomm to Lay Off over 1200 California Employees

Out of the 1,258 job cuts, more than 750 positions are from different levels of Qualcomm’s engineering ranks. The rest of the reductions cover a broad range of roles such as internal technical staff and accounting.  American largest chipmaker Qualcomm Inc (NASDAQ: QCOM) will lay off about 1258 employees in its California unit. According to a filing with the California Employment Development Department, as many as 1,064 of its San Diego employees and 194 of its Santa Clara employees will be...

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Microsoft to Appeal IRS’s $29B Back Taxes Claim

If the appeal process, which could take years, does not result in a unanimous agreement, the corporation would have to settle any unresolved issues in court. The United States Internal Revenue Service (IRS) has informed Microsoft Corp (NASDAQ: MSFT) that it owes back taxes of  $28.9 billion “plus penalties and interest” for the tax years 2004 through 2013. In an 8-K filing on Wednesday, the corporation revealed that it had received Notices of Proposed Adjustment (NOPAs) from the IRS....

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Microsoft Nears Completion of $68.7B Activision Blizzard Deal

The approval came after the FTC in the United States initially filed a lawsuit to block the Activision Blizzard acquisition last year. According to a Friday report from The Verge, Microsoft Corp (NASDAQ: MSFT) is edging closer to finalizing its proposed $68.7 billion acquisition of Activision Blizzard, with an expected announcement set for next week. The US-based tech giant has earmarked October 13 as the potential closing date for the deal. The long-awaited acquisition, which has been in...

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Doosan Robotics Shares More than Double in South Korea’s Thursday IPO

Doosan Robotics had an impressive IPO with shares jumping more than 100%, making it South Korea’s biggest trading debut so far this year. Shares in South Korean collaborative robot (cobot) Doosan Robotics jumped significantly from their initial public offering (IPO) price upon their trading debut on Thursday. Doosan Robotics shares began trading at 59,100 won, an increase of more than 127% from the initial IPO price of 26,000 won. At its highest point, Doosan shares climbed to 67,000 won...

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Dow Jones Tanks 400 Points amid Interest Rate Spike, Turns Negative for 2023

Analysts have warned that the rise in the bond yields could pose significant challenge to equity market and other risky investments like crypto. On Tuesday, October 3, the US equity market came under major selling pressure as the US 10-year Treasury Yield surged to the levels last seen 16 years ago in 2007. The surge in interest rates has raised concerns about freezing the housing market and pushing the economy into recession. The Dow Jones Industrial Average experienced its most...

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AMD Shares Surge Nearly 5% amid Praise from Microsoft CTO

The longstanding partnership between Microsoft and AMD has been a strategic alliance that has shaped the tech industry in various ways. A recent report has revealed that shares of Advanced Micro Devices Inc (NASDAQ: AMD) rose nearly 5% on Thursday following comments from Kevin Scott, the Chief Technology Officer of Microsoft Corp (NASDAQ: MSFT) about the chipmaker’s efforts to strengthen its position in AI, an arena long dominated by Nvidia Corp (NASDAQ: NVDA). With AMD’s stock up...

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US Stocks Stumble as Consumer Confidence Dips and Bond Yields Rise

Concerns about higher interest rates can lead to reduced borrowing, higher financing costs, and a potential slowdown in economic activity. On Tuesday, September 27, the US stocks experienced a significant dip as bond yields inched up and consumer confidence declined for the second consecutive month in September. The Nasdaq Composite (INDEXNASDAQ: .IXIC), S&P 500 Index (INDEXSP: .INX), and Dow Jones Industrial Average (INDEXDJX: .DJI) all faced declines, with the latter plummeting...

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Leaked Documents Hint at Microsoft’s Crypto Plans for Xbox

Crypto integration into Xbox also has the potential to onboard millions to crypto, further propelling adoption. Recently leaked internal documents suggest that Microsoft plans to integrate crypto wallets into its Xbox gaming console. The documents were posted on the gaming forum ResetEra and reveal that an Xbox roadmap from May 2022 featured plans to add support for crypto wallets to the next version of Microsoft’s flagship gaming console. The documents were leaked in connection to a...

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Aptos Labs and Microsoft Team Up in the Name of Blockchain

Microsoft has teamed up with layer-1 blockchain firm Aptos Labs to further establish its presence in both the web3 and artificial intelligence (AI) arenas. Microsoft and Aptos Have Joined Hands Mo Shaikh, the co-founder and CEO of Aptos Labs, commented in an interview: The primary focus for both of us is solving our respective industries’ problems. Aptos will run validator nodes on the Azure Cloud hosted by Microsoft, a move slated to bring higher degrees of...

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Microsoft Is Gradually Closing In on Apple as It Eyes Position as World’s Largest Stock

Although hundreds of billions away, Microsoft’s valuation is gradually closing in on that of Apple, racing to become the world’s largest. Microsoft Corporation (NASDAQ: MSFT) is making progress with its valuation and seems ready to give Apple Inc (NASDAQ: AAPL) a run for its money. The company’s valuation is now moving closer to Apple’s as it races to overtake the iPhone maker as the world’s largest company by market cap. According to Marketwatch data as of writing time, Apple shares have...

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