BACT

Meta battles US antitrust agency over future of virtual reality

WASHINGTON/SAN JOSE, Calif., Dec 8 (Reuters) – The Federal Trade Commission, which enforces antitrust law, is about to engage in a real-life courtroom fight over virtual reality. On Thursday, a high-profile trial kicks off in which the FTC will try to prevent Facebook parent Meta Platforms Inc (META.O) from buying virtual reality app developer Within …

Meta battles US antitrust agency over future of virtual reality Read More »

‘The worst is yet to come’: the curse of high inflation

Dec 8 (Reuters) – Globally, people are experiencing inflation at levels not seen for decades as prices surge for essentials like food, heating, transport and accommodation. And although a peak could be in sight, the effects may still get worse. How did we get here? In two words: pandemic and war. A long and comfortable …

‘The worst is yet to come’: the curse of high inflation Read More »

Pentagon splits $9 billion cloud contract between Google, Amazon, Oracle and Microsoft

Dec 7 (Reuters) – The Pentagon awarded $9 billion worth of cloud computing contracts to Alphabet Inc’s Google (GOOGL.O), Amazon Web Services Inc (AMZN.O), Microsoft Corp (MSFT.O) and Oracle Corp on Wednesday. The Joint Warfighting Cloud Capability (JWCC) is the multi-cloud successor to the Joint Enterprise Defense Infrastructure (JEDI), which was an IT modernization project …

Pentagon splits $9 billion cloud contract between Google, Amazon, Oracle and Microsoft Read More »

Elon Musk briefly loses title as world’s richest person to LVMH’s Arnault – Forbes

Dec 7 (Reuters) – Twitter owner and Tesla (TSLA.O) boss Elon Musk briefly lost his title as the world’s richest person on Wednesday, according to Forbes, following a steep drop in the value of his stake in the electric-car maker and a $44 billion bet on the social media firm. Bernard Arnault, the chief executive …

Elon Musk briefly loses title as world’s richest person to LVMH’s Arnault – Forbes Read More »

Ex-Theranos president Balwani sentenced to nearly 13 years for fraud

Dec 7 (Reuters) – A US judge on Wednesday sentenced former Theranos Inc President Ramesh “Sunny” Balwani to 12 years and 11 months in prison on charges of defrauding investors and patients of the blood testing startup led by Elizabeth Holmes, a spokesperson for the US attorney’s office confirmed. US District Judge Edward Davila in …

Ex-Theranos president Balwani sentenced to nearly 13 years for fraud Read More »

Exclusive: Goldman Sachs on hunt for bargain crypto firms after FTX fiasco

LONDON, Dec 6 (Reuters) – Goldman Sachs (GS.N) plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. FTX’s implosion has heightened the need for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to …

Exclusive: Goldman Sachs on hunt for bargain crypto firms after FTX fiasco Read More »

US Army awards Black Hawk replacement contract to Textron’s Bell

WASHINGTON, Dec 5 (Reuters) – The US Army on Monday awarded the contract for its next-generation helicopter to Textron Inc’s ( TXT.N ) Bell unit, ending a years-long competition for the technology that will replace the Black Hawk utility helicopter . The Army’s “Future Vertical Lift” competition aimed at finding a replacement as the Army …

US Army awards Black Hawk replacement contract to Textron’s Bell Read More »

Apple and Amazon resume advertising on Twitter, reports say

Dec 3 (Reuters) – Amazon.com Inc (AMZN.O) and Apple Inc (AAPL.O) are planning to resume advertising on Twitter, according to media reports on Saturday. The developments follow an email sent by Twitter on Thursday to advertising agencies offering advertisers incentives to increase their spending on the platform, an effort to jump-start its business after Elon …

Apple and Amazon resume advertising on Twitter, reports say Read More »

Bankman-Fried says he will testify before the US House committee

Dec 4 (Reuters) – FTX founder Sam Bankman-Fried tweeted on Sunday that he would testify before the House Financial Services Committee after he finished “learning and reviewing” the events that led to the spectacular collapse of his cryptocurrency exchange. The US House Financial Services Committee plans to hold a hearing in December to investigate the …

Bankman-Fried says he will testify before the US House committee Read More »

Foxconn expects COVID-hit China plant back to full output in late Dec-early Jan -source

TAIPEI, Dec 5 (Reuters) – Apple supplier Foxconn (2317.TW) expects its COVID-hit Zhengzhou plant in China to resume full production around late December to early January, a Foxconn source said on Monday, after worker unrest disrupted the world’s biggest iPhone factory. The Zhengzhou plant has been grappling with strict COVID-19 restrictions that have fueled discontent …

Foxconn expects COVID-hit China plant back to full output in late Dec-early Jan -source Read More »