Meta Platforms Inc. reiterated its warning that it may have no choice but to pull its popular Facebook and Instagram services from the European Union if a new transatlantic data transfer pact doesn’t materialize. Meta could face an imminent data flow ban from Ireland’s data protection watchdog, which oversees a number of Silicon Valley tech […]
Amazon.com Inc. and Apple Inc. added about $196 billion in market value on Friday after they joined technology peers Alphabet Inc. and Microsoft Corp. in assuaging investor concerns by reporting higher revenue even as consumers curb their spending amid rising inflation. Amazon shares jumped 10%, their biggest move since February, while Apple advanced 3.3%. The […]
The chief operating officer of Zilingo Pte has resigned from the company after a tenure during which the fashion e-commerce startup rose to prominence before plunging into a crisis. Aadi Vaidya, who joined the company in 2015 and became the COO two years later. Friday is his last day at the company, Vaidya said in […]
Sony Group Corp. cut its profit outlook as its PlayStation division faltered and game sales slumped. The Tokyo-based entertainment conglomerate said on Friday that it now expects 1.11 trillion yen ($8.3 billion) in operating profit, down from 1.16 trillion yen previously. The gaming and network services group, which houses the PlayStation business, accounted for the […]
Bitcoin and Ether, the world’s two largest digital tokens, are headed toward their best month since 2021 amid a revival of risk appetite in global markets and optimism about an Ethereum network upgrade. Bitcoin is up 28% in July and Ether 70%, though their rallies paused Friday. Both were little changed, with Bitcoin at about […]
Hosiden Corp., a major assembler of Nintendo Co.’s Switch console, withdrew its fiscal year sales forecast citing difficulties procuring electronic components. The Osaka-based company said uncertainty about its own and its clients’ ability to secure sufficient chips pushed it to retract its previous outlook in a filing to the Tokyo Stock Exchange Thursday. More than […]
Xiaomi Corp. is facing difficulties getting regulatory approval for its electric vehicle project in China, an unexpected hurdle for the smartphone giant’s $10 billion carmaking endeavor. The Beijing-based company has been talking to officials at the National Development and Reform Commission about the licensing for months without success, according to people familiar with the matter.