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TSMC Posts Q3 2022 Results, Sees Profit Rise 80%, Shares Dip 0.6%
Following an impressive Q3 2022 financial report, TSMC announces that it is taking a more cautious productive approach against next year. Taiwan Semiconductor Manufacturing Company Limited (TSMC) saw its Q3 2022 profit climb 80% according to its latest fiscal report. The chip-manufacturing giant’s impressive outing comes from strong sales of... Read more
Microsoft to Create Immersive Tech for Wide Range of Industrial Usage
Software giant Microsoft has created a new team, called Industrial Metaverse Core, to pursue these stated tech goals. According to reports, Microsoft Corporation (NASDAQ: MSFT) plans to create immersive tech for industrial workers. To actualize this effort, the tech giant has set up a new internal team known as Industrial Metaverse Core. The... Read more
AMC Entertainment Stock Hits 52-Week Low amid Mounting Debt
The lack of blockbuster content this year is putting further pressure on AMC’s revenue. However, the company has enough stockpile to ride through this tough times. On Wednesday, October 12, the stock price of AMC Entertainment touched a new 52-week low amid multiple concerns. The movie theater company is... Read more
Google Reinstate Truth Social to Play Store, SPAC Stock Increases
In reaction to the news of Google reinstating Truth Social on the Play Store, the shares of Digital World Acquisition surged after hours. Digital World Acquisition Corp (NASDAQ: DWAC), the blank check company set to take Truth Social public, saw a jump in its stock after Google (NASDAQ: GOOG)... Read more
Intel to Cut Thousands of Jobs as PC Demand Stutters
Intel’s current business headwinds are surpassing its short-term growth projections as the firm recently lobbied for a $52 billion chip-stimulus bill this year. In what has turned out to be a historically low downtime for most companies, the pangs of job cut might soon be felt by some staff... Read more
US Treasury Yield Trades Lower as Inflation Data Looms
Investors are generally exercising caution ahead of the PPI and CPI data release and this conservative stance is reflected in the closing performance of the tech-heavy Nasdaq Composite. Many major financial market indicators are showing signs of frailty ahead of the crucial inflation data that are billed to be... Read more
Mercedes-Benz, Microsoft Partner for Improved Efficiency, Sustainability, Resilience in Vehicle Production
Mercedes-Benz stated that the MO360 Data Platform would help in creating a virtual replica of its vehicle manufacturing process. Luxurious vehicle maker Mercedes-Benz and technology company Microsoft (NASDAQ: MSFT) are coming together to bolster efficiency, resilience, and sustainably in vehicle production. The vehicle company is introducing the MO360 Data Platform and... Read more
Meta Shares Fell 4% after Mark Zuckerberg Debuted New Quest Pro VR Headset
Meta has announced the new Quest Pro VR headset with several improvements over the Quest 2. The new headset will sell at $1,500. Meta (NASDAQ: META) chairman and CEO Mark Zuckerberg has debuted the company’s new virtual reality headset, the Meta Quest Pro. The company’s newest headset will start... Read more
S&P 500, Nasdaq Record Fifth Consecutive Losing Day as Fed Inflation Report Looms
The S&P and Nasdaq Composite reversed earlier gains to end Tuesday’s session in a loss, as the Fed readies key inflation report. The S&P 500 slid 0.65% to close at 3,588.84, recording its fifth consecutive losing day ahead of a key inflation report. The leading index’s recent loss is... Read more
Sequoia Capital and Binance Will Still Support Elon Musk in His Twitter Acquisition
Sequoia Capital and Binance will proceed with their initial commitment of funding $800 million and $500 million into Musk’s Twitter deal. Earlier this month tech billionaire Elon Musk decided to proceed further with the $4 billion acquisition of Twitter. Despite all the drama that has happened, Sequoia Capital and... Read more
Five9 (FIVN) Shares Plunge 20% as CEO Departs to Lead Private Company
The announcement of a leadership transition at Five9 saw the company’s shares substantially decline ahead of its Q3 earnings report. Shares of cloud contact facilitator Five9 (NASDAQ: FIVN) plummeted more than 20% after CEO Rowan Trollope resigned. The company’s outgoing chief executive is reportedly leaving to lead a privately-held venture-backed... Read more
Digital World SPAC to Rally Shareholder Votes to Extend TMTG Merger
Besides Twitter, other social media platforms also banned the President, as they claimed his comments are divisive and do not align with their core policies. With the December 8 deadline to take the Trump Media and Technology Group (TMTG) public fast approaching, the Digital World Acquisition Corp (NASDAQ: DWAC),... Read more
Three US Economists Nab This Year’s Nobel Prize for Economic Sciences
The winners of the Nobel Economics prize are not just experts in their respective spheres but are renowned authorities whose positions and views about current global economic turmoil remain very respected. The winners of this year’s Nobel Prize for Economics have been announced and three veterans from the United... Read more
Musk Reveals Beijing Seeks Assurances that He Will Not Sell Starlink in China
Starlink is increasingly spreading its wings across different parts of the world. According to Elon Musk, the Chinese government does not want him to sell Starlink in China. The Tesla CEO spoke to the Financial Times on different subjects, running from his offer to buy Twitter (NYSE: TWTR) and... Read more
DeFi Startup Arch Secures $5M in Funding, Sets Lofty Goals
The Arch startup is aiming to become the BlackRock of Web 3 by ensuring that the transition of capital from Web2 to Web3 will be seamless even for newcomers. Over the last weekend, decentralized finance (DeFi) startup Arch announced that it has secured $5 million in the latest funding.... Read more
ShopNEXT Collaborates with Visa in Innovative Web3.0 Move
ShopNEXT hopes to contribute its quota to the global economy and help merchants across the world to grow their various businesses. BNB Chain-backed ShopNEXT has partnered with payments giant Visa to launch a first-of-its-kind Web3.0-focused loyalty platform. The partnership was announced by ShopNEXT in a Friday press release in... Read more
Google Shows Off New Pixel 7 Smartphones, Will Start Shipping on October 13th
Google treated observers to the features of its new Pixel 7 and Pixel 7 Pro Android smartphones, as well as smartwatch. Alphabet Inc/Google (NASDAQ: GOOGL) recently showcased its new Pixel 7 smartphone product range as well as its very first Google Pixel Watch. According to the tech giant, its... Read more
Tiger Global Looking to Raise $6B to Invest in Tech Companies
Since 2020, Tiger Global Management has invested in more than three dozen crypto and blockchain startups. According to Axios, Tiger Global Management is raising $6 billion for a new tech investment fund. Axios also reports that, based on an investment letter it had reviewed, the in-progress funding campaign is... Read more
EU Regulators Question Microsoft Over Its $69B Activision Deal
The EU Commission is seeking to know as to how Microsoft will gain a competitive edge over other small players with its Activision acquisition. It seeks to know how it could impact the gaming market going ahead. Antitrust regulators in the European Union have been asking for more details... Read more
Porsche Becomes Largest European Automaker after IPO
After the successful IPO, the market valuation of the European automaker soared to about 84 billion euros. Porsche overtook Volkswagen after completing its IPO to become the most valuable European automaker after its share price soared. Porsche also remained the 25th most valuable company in Europe and the 5th... Read more
Credit Suisse to Sell Landmark Hotel and Buyback $3B Worth of Shares
Amidst the plunging share price levels and growing Credit Default Swap (CDS), the firm is still maintaining the outlook that it got its business covered. Swiss financial services giant and global investment banking giant Credit Suisse AG (SWX: CSGN) has unveiled its plans to sell its landmark hotel, the... Read more