Category: Tech News

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Meta says it will lose even more money on the metaverse in 2023

A year later, Meta’s pivot to the metaverse is proving even more expensive. Reality Labs is losing more money than ever, Facebook’s parent company disclosed in its latest earnings report. Reality Labs, the unit that oversees the company’s virtual and augmented reality projects, lost $3.7 billion in the third-quarter of 2022, a jump from a… Continue reading Meta says it will lose even more money on the metaverse in 2023

Investcorp brings its family business experience to emerging Asia

Bahrain-based alternatives firm Investcorp is rarely in the news. But it is not unknown, particularly among those who have been tracking global private equity deals in consumer and consumer-related industries. Investcorp made headlines in the 1980s and 1990s with high-profile deals including North American and European luxury companies such as Tiffany & Co., Gucci Group,… Continue reading Investcorp brings its family business experience to emerging Asia

Stripe enters crowded Thai payments market with global strategy

Stripe says it will use its global payments network to attract businesses of all sizes in Thailand after it launched operations in the already crowded market on Wednesday. The fintech company, headquartered in San Francisco and Dublin, is the latest in a string of U.S. tech companies to expand in Southeast Asia’s increasingly digital economies.… Continue reading Stripe enters crowded Thai payments market with global strategy

Ford takes $2.7B hit on Argo shutdown, shifts its bet to driver assist tech

As the third-quarter earnings drumbeat continues, we learned more about the state of global supply chains, global consumer appetite for big-ticket items and the future of self-driving technology. After the bell this afternoon, Ford beat Wall Street analyst revenue estimates of $36.25 billion, per Yahoo Finance, with automotive Q3 2022 top line of $37.2 billion,… Continue reading Ford takes $2.7B hit on Argo shutdown, shifts its bet to driver assist tech

Tesla said to face criminal investigation by the Department of Justice over self-driving claims

Tesla is said to be facing a criminal investigation launched by the U.S. Department of Justice facing claims made by the company regarding its “Autopilot” capabilities, Reuters reports, citing “three people familiar with the matter.” The inquiry was launched last year per the sources and was initiated following over a dozen accidents involving the active… Continue reading Tesla said to face criminal investigation by the Department of Justice over self-driving claims

Ford, VW-backed Argo AI is shutting down

Argo AI, an autonomous vehicle startup that burst on the scene in 2017 stacked with a $1 billion investment, is shutting down — its parts being absorbed into its two main backers: Ford and VW, according to people familiar with the matter. During an all-hands meeting Wednesday, Argo AI employees were told that some people… Continue reading Ford, VW-backed Argo AI is shutting down

Elon Musk seems to feel at home inside Twitter’s HQ as ‘Chief Twit’

/ Twitter’s prospective owner has arrived, carrying a sink and taking on a new profile title. Employees can apparently expect to hear from Musk on Friday. Illustration by Laura Normand / The Verge With about 48 hours to go in the judge-mandated timeline to close his deal to buy Twitter for $44 billion, Elon Musk… Continue reading Elon Musk seems to feel at home inside Twitter’s HQ as ‘Chief Twit’

Toyota ramping up bZ4X SUV production to compete in swelling EV market, but not anytime soon

Is the world’s largest automaker finally responding to the rapidly changing auto industry? Toyota is now considering ramping up production of its first 100% electric mass-market vehicle, the bZ4X SUV, but not until 2025, according to sources familiar with the plans. Earlier this week, Reuters released that Toyota is considering changing its EV strategy after… Continue reading Toyota ramping up bZ4X SUV production to compete in swelling EV market, but not anytime soon

Tesla is reportedly under DoJ criminal probe over self-driving claims

Tesla is reportedly under criminal investigation by the Department of Justice in the United States over self-driving claims. Over the last few months, there has been mounting pressure from regulators, politicians, and the media regarding Tesla’s self-driving effort. Tesla Autopilot has been under NHTSA investigation for a year now, and Tesla’s Full Self-Driving (FSD) Beta… Continue reading Tesla is reportedly under DoJ criminal probe over self-driving claims