tech companies

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3 Tech Giants Report Combined Profits of More Than $50B

Apple, Microsoft, Alphabet have more than doubled in value during pandemic

(Newser) - Three tech companies— Apple, Microsoft, and Google owner Alphabet—reported combined profits of more than $50 billion in the April-June quarter, underscoring their unparalleled influence and success at reshaping the way we live. The results served as another reminder of the clout they wield and why government regulators are growing...

'Emperors of the New Economy' Grilled at Antitrust Hearing

'Simply put, they have too much power'

(Newser) - The CEOs of Amazon, Apple, Facebook, and Google were sworn in remotely Wednesday for a historic antitrust hearing before House lawmakers. Rep. David Cicilline, chairman of the House Judiciary antitrust subcommittee, used his opening statement to accuse the tech giants of damaging the economy through excessive dominance, the New York ...

Big Tech CEOs Head to Congress for Historic Hearing

Apple, Amazon, Facebook, Google on the defense over rising power

(Newser) - Chief executives of Facebook, Google, Apple, and Amazon are set to testify remotely before Congress on Wednesday as part of a hearing focusing on the size and power of the world's leading tech companies, following a yearlong investigation by the House judiciary’s antitrust subcommittee. Facebook CEO Mark Zuckerberg...

US Threatens 100% Tariffs on French Imports

Move would be retaliation for tech tax

(Newser) - The Trump administration is proposing tariffs on up to $2.4 billion worth of French imports—including Roquefort cheese, handbags, lipstick, and sparkling wine—in retaliation for France’s tax on American tech giants like Google, Amazon, and Facebook. The Office of the US Trade Representative charged Monday that France’...

Justice Department Launches Big Tech Antitrust Probe

Shares in Facebook, Amazon, Google fall

(Newser) - The Department of Justice has opened a sweeping antitrust investigation of big technology companies and whether their online platforms have hurt competition, suppressed innovation, or otherwise harmed consumers. It comes as a growing number of lawmakers have called for stricter regulation or even breaking up the big tech companies, which...

Peggy Noonan: Let's Ditch This 'Imperious Twerp'

'Journal' columnist goes after Mark Zuckerberg and big tech

(Newser) - It's a safe bet that Wall Street Journal columnist Peggy Noonan won't be receiving any more invitations to a private gathering with Mark Zuckerberg. In her latest op-ed, Noonan refers to Zuckerberg as an "imperious twerp" who summons people as if he were a prince. More to...

Warren: Time to Bust Up Google, Amazon

Presidential candidate is going after the giants of tech

(Newser) - Elizabeth Warren wants a fair playing field in the marketplace—and she's going after Big Tech to make it happen. "To restore the balance of power in our democracy, to promote competition, and to ensure that the next generation of technology innovation is as vibrant as the last,...

Another Tech Company Has Big Plans in NYC

Google plans $1B expansion

(Newser) - Silicon Valley is becoming Silicon Nation. Google announced Monday it will spend more than $1 billion to build a new office complex in New York City that will allow the internet search giant to double the number of people it employs there. It is the tech industry's latest major...

Amazon's 2 Winning Cities Will Get 25K Jobs Each

They will be in Virginia and NYC, sources say

(Newser) - Disappointment for Dallas, Toronto, Atlanta, Pittsburgh, and most of the other cities and regions on Amazon's shortlist : Sources tell the Wall Street Journal and other outlets that the company has picked sites in Northern Virginia and New York City for its "second headquarters." The Journal's sources...

Amazon Will Put New HQ in 2 Cities: Sources

Each 'co-headquarter' will have 25K workers, insiders say

(Newser) - After more than a year of searching—and a fierce bidding war among cities across America and Canada—Amazon has decided to abandon plans to build a second headquarters that would be the "full equal" of its Seattle base, insiders say. Instead, sources tell the Wall Street Journal , the...

California City Takes a Stand Against Facebook's Free Food

New office can't fully subsidize internal meals

(Newser) - There will be no free ice cream for the 2,000 employees set to fill Facebook's new office in Mountain View, Calif., later this year. Like many other tech companies in Silicon Valley, Facebook fills the bellies of its employees with free food, from oven-baked pizza to hand-rolled sushi....

Facebook, Microsoft to Run Mega-Cable From Va. to Spain

MAREA will be the highest-capacity trans-Atlantic cable yet

(Newser) - Virginia Beach soon be tethered to Bilbao, Spain, thanks to what Computerworld calls "an epic shift that will change everything." A joint initiative between Facebook, Microsoft, and an overseas telecommunications company, the 4,100-mile-plus MAREA subsea cable will be the highest-capacity cable to span the Atlantic, with an...

IPO Rumors Chirp for Twitter
 IPO Rumors Chirp for Twitter 

IPO Rumors Chirp for Twitter

Recent moves have analysts looking to public offering in 2014

(Newser) - Twitter could finally be going public. Well, in 2014, according to a new report by IPO-watchers Greencrest Capital. With an estimated valuation of more than $11 billion and a recent spate of high profile management hires and reshuffles, "you can begin to see Twitter’s potential flightpath," writes...

Groupon Stock Plunges to New Low

80 workers laid off as firm faces trouble in Europe

(Newser) - Saddled by weak performance in Europe, Groupon's struggles continue: Its shares dropped to $3.25 in after-hours trading yesterday, sinking below analysts' already muted expectations. The plunge marked a 17% drop from its $3.92 closing price. Since its IPO, the company has lost four-fifths of its value, Reuters...

For the Price of One Apple Share, You Can Buy...

The AP takes a quirky look at what you could get for $665.15

(Newser) - Apple became the world's most valuable company ever yesterday, after its stock jumped 2.6% to an all-time high of $665.15. If that seems like a lot for a single share of something, well, the AP doesn't exactly disagree. It rounds up six other ways you could...

Apple: Most Valuable Company Ever
Apple: Most Valuable Company Ever

Apple: Most Valuable Company Ever

Surging stock puts company value at $624B

(Newser) - Apple is Wall Street's all-time MVP—that's Most Valuable Property. Today, Apple's surging stock propelled the company's value to $624 billion, the world's highest, ever. It beat the record for market capitalization set by Microsoft Corp in the heady days of the Internet boom. After...

Google Offers ... Really Generous Death Benefits

Googlers get one final perk

(Newser) - Google is famous for its generosity to employees, but Forbes has found a perk that Googlers get after they depart the company—and this life. If any of Google's 34,000 or so workers die while employed by the company, their surviving partner will receive half their salary every...

23 Celebs Looking to Make It Big in Tech

Leonardo DiCaprio, Justin Bieber, Kim Kardashian have tech interests

(Newser) - Celebrities are increasingly getting their fingers in tech companies, including such well-known ones as Facebook and Foursquare. Huffington Post rounds up 23 Hollywood VIPs who dabble in tech on the side:
  • Leonardo DiCaprio: He invested $4 million in Mobli, a real-time visual media platform, last October.
  • Selena Gomez: The singer/actress
...

Facebook IPO Could Top $10B
 Facebook IPO Could Top $10B 

Facebook IPO Could Top $10B

Firm to value itself at over $100B in deal next year, sources say

(Newser) - Facebook is readying its long-anticipated initial public offering for the second quarter of next year, and it's aiming for a deal that will value the company at more than $100 billion—more than $125 for each of its 800 million users, insiders tell the Wall Street Journal . The company...

IBM Surpasses Microsoft, Claims No. 2 Tech Spot

Shift illustrates tech industry's move away from PCs

(Newser) - Microsoft, once the world’s most valuable tech company, has now fallen to third place. IBM surpassed Microsoft yesterday to take the second-place spot, as its market value rose to $214 billion and Microsoft’s fell to $213.2 billion. It marked the first time IBM’s closing prices exceeded...

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