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X social media to test $1 annual subscription for basic features
The logo of social media platform X, formerly Twitter, is seen alongside the former logo in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing Rights Oct 17 (Reuters) – Social media platform X, formerly known as Twitter, said on Tuesday it will test a new subscription model under which it will charge …
Ferrari to accept crypto as payment for its cars in the US
The logo of Ferrari is seen in the headquarters as CEO Benedetto Vigna unveils the company’s new long term strategy, in Maranello, Italy, June 15, 2022. Picture taken June 15, 2022. REUTERS/Flavio Lo Scalzo/File Photo Acquire Licensing Rights MILAN, Oct 14 (Reuters) – Ferrari (RACE.MI) has started to accept payment in cryptocurrency for its luxury …
Unity discovers how real the revenue struggle is
Virtual reality gears from Pico are displayed on the sidelines of the Olympic Esports Week in Singapore June 23, 2023. REUTERS/Edgar Su Acquire Licensing Rights NEW YORK, Sept 13 (Reuters Breakingviews) – Unity Software (U.N) is finding out just how hard the revenue game will be. The $14 billion company’s new plan to climb out …
Wall St gains with focus on Nvidia’s high-stakes results
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing Rights Nvidia gains ahead of quarterly results Sports retailers fall on Foot Locker’s dour forecast Peloton drops on missing positive cash-flow target Indexes up: Dow 0.25%, S&P 0.52%, Nasdaq 0.82% …
Tesla’s governance autopilot heads for disaster
NEW YORK, May 17 (Reuters Breakingviews) – Portraying a CEO as a father figure is one way to tell there’s a lack of judicious oversight. Backing the company’s board despite obvious shortcomings is another. Tesla shareholders did both on Tuesday, with one of them playing the part of boss Elon Musk’s “son,” a robot the …
Luminar Tech CEO Russell to acquire majority stake in Forbes
May 12 (Reuters) – Luminar Technologies (LAZR.O) CEO Austin Russell will buy a majority stake in Forbes Global Media Holdings in a deal that values the business news publisher at nearly $800 million, Russell and Integrated Whale Media Investments (IWM) said in a statement on Friday. The automotive tech billionaire has agreed to acquire 82% …
LinkedIn cuts over 700 jobs, exits China app as demand wavers
May 8 (Reuters) – LinkedIn, the social media network owned by Microsoft Corp (MSFT.O) that focuses on business professionals, said on Monday it would cut 716 jobs as demand wavers, while also shutting down its China-focused job application. LinkedIn, which has 20,000 employees, has grown revenue each quarter during the last year, but it joins …
First Republic secures new facility from JPMorgan
March 12 (Reuters) – U.S. private bank First Republic Bank (FRC.N) said on Sunday it had secured additional financing through JPMorgan Chase & Co (JPM.N), giving it access to a total of $70 billion in funds through various sources. First Republic’s announcement came after its share price was hit last week in the aftermath of …
Twitter makes first interest payment on Musk buyout debt – Bloomberg News
Jan 30 (Reuters) – Twitter Inc has made its first interest payment under Elon Musk after the billionaire took the social media company private last year using about $12.5 billion of debt, Bloomberg News reported on Monday, citing people with knowledge of the matter. Twitter paid a group of seven banks, led by Morgan Stanley, …
Pernod Ricard India CEO Cuny steps down due to health reasons
NEW DELHI, Oct 14 (Reuters) – Pernod Ricard’s (PERP.PA) India head, Thibault Cuny, has stepped down from his role due to health reasons, the French spirits giant said on Friday, marking a high-profile exit at a time the company is fighting regulatory and legal battles in the country. Cuny, who has been dealing with health …
