(Brands & Consumers)
Reddit is facing a potential data leak as hackers from the BlackCat ransomware gang threaten to release 80 gigabytes of confidential data stolen during a February breach, with demands for payment and withdrawal of a controversial pricing policy. The hackers claim to have demanded a $4.5 million payout in April for deleting the data and…
Bad Bunny and other music industry stars, including Pitbull, Justin Bieber, and Taylor Swift, are seeking to have a copyright infringement lawsuit thrown out of court. Lawyers representing Bad Bunny filed a motion to dismiss the lawsuit, arguing that the disputed musical elements are not eligible for copyright protection. The lawsuit was filed by Jamaican…
Alibaba, the Chinese tech giant, is undergoing its largest shakeup in history with the announcement of leadership changes. Daniel Zhang, the current chairman and CEO, will be replaced by Joseph Tsai as chairman and Eddie Wu as CEO, effective from September. Zhang will continue to serve as the chairman and CEO of Alibaba’s cloud unit….
The chief executive officer (CEO) of Binance, Mr Changpeng “CZ” Zhao, has called Binance Nigeria Limited a scam entity, noting that the cryptocurrency exchange has issued a cease and desist order. In a recent tweet, Mr Zhao said, “Binance have issued cease & desist notice to the scammer entity Binance Nigeria Limited.” He further added…
Toyota engineers are working on a unique feature for electric cars – a realistic fake manual transmission. Although a manual transmission on an electric vehicle serves no functional purpose, it is being developed as an add-on for those who enjoy shifting gears in gasoline-powered cars. Toyota, known for its skepticism towards electric vehicles, is planning…
Aliko Dangote, who was previously the richest man in Africa, has been displaced by South African billionaire Johann Rupert, according to the Forbes Billionaire Ranking. Dangote’s net worth has dropped by 20.7% due to the devaluation of the Nigerian currency by the Central Bank of Nigeria (CBN). The devaluation caused the naira to dollar exchange…
BMW recently unveiled an exhibit called “The Electric AI Canvas” at Art Basel. An extension of the “The Ultimate AI Masterpiece,” it marks the first time the virtual work is transformed into a physical art experience. Featuring the BMW i5 as a dynamic canvas for generative art, the exhibition includes works by contemporary artists and…
A global cyberattack orchestrated by Russian cybercriminals has targeted numerous businesses, universities, and government agencies, leading to efforts to assess the extent of the data compromised. While the full scope of the attack remains unknown, the US Cybersecurity and Infrastructure Security Agency (CISA) revealed that several federal agencies experienced intrusions, and additional businesses could also…
YouTube has announced that it is relaxing the rules for its partner program, allowing new creators to start earning money from their video-making careers at an earlier stage. Despite this positive change, the situation is not entirely favorable for new content creators.YouTube is a popular platform for video content and has played a significant role…
Michael Jordan, the legendary basketball player, is in the process of selling the majority share of the Charlotte Hornets, the NBA franchise has announced. The team will be sold to a group led by Gabe Plotkin and Rick Schnall, with Plotkin already holding a minority stake in the Hornets since 2019. Schnall, on the other…
Mercedes-Benz and Microsoft have reached an agreement to incorporate Microsoft’s ChatGPT, a generative artificial intelligence software, into Mercedes-Benz cars in the United States. The addition of ChatGPT aims to enhance the voice-command capabilities already present in Mercedes vehicles, allowing for more natural and fluid interactions with the driver. Currently, Mercedes drivers can use voice commands…
An Amazon worker and union organizer, Jennifer Bates, has been reinstated in her job after appealing her termination by the e-commerce giant earlier this month. Amazon confirmed that Bates, who became a prominent figure in the effort to unionize an Amazon facility in Bessemer, Alabama, had been reinstated following the appeals process. Bates had received…
A series of controversial proposals aimed at addressing the airline pilot shortage is creating complications for Congress as they consider new Federal Aviation Administration (FAA) policies.One senator has issued a warning to fellow lawmakers, stating that they will bear responsibility if reduced pilot training leads to a fatal accident. The proposals presented by lawmakers include…
Many top business leaders are expressing serious concerns about the potential existential threat posed by artificial intelligence (AI) in the near future. According to survey results exclusively shared with CNN from the Yale CEO Summit, 42% of CEOs believe that AI has the potential to destroy humanity within the next five to ten years. This…
Disney’s Chief Financial Officer (CFO), Christine McCarthy has stepped down from her position and taking a family medical leave of absence. Effective July 1, Kevin Lansberry, currently the CFO of Parks, Experiences, and Products, will assume the role of interim CFO. Disney CEO Bob Iger expressed high regard for McCarthy, stating, “Christine McCarthy is one…
A Reddit blackout that began as a two-day voluntary shutdown has entered its third day, with no signs of ending soon. Over 6,000 subreddits, including popular communities like r/aww, r/videos, and r/music, remained inaccessible and in private mode. This prolonged protest is in response to changes in Reddit’s data policies, specifically the decision to introduce…
A jury has delivered a verdict in favor of former Starbucks regional director Shannon Phillips, who filed a lawsuit against the company alleging wrongful termination based on her race as a White employee. Phillips, who had been employed by Starbucks for approximately 13 years and managed a region of stores, was fired following the arrest…
In a significant shift, Modelo Especial, the Mexican lager brewed by Constellation Brands near Mexico City, has emerged as the top-selling beer in May, dethroning Bud Light from its longstanding position. This development further highlights the challenges faced by the Anheuser-Busch brand, particularly after a transgender influencer’s Instagram post featuring a customized Bud Light can…
Instant Brands, the manufacturer of popular products like Instant Pot, Corelle, and Pyrex, has filed for bankruptcy under Chapter 11. This type of bankruptcy allows for the reorganization of the company rather than its complete liquidation. The filing occurred on Monday, citing tighter credit and higher interest rates as factors contributing to the decision. Despite…
A US judge has granted the Federal Trade Commission’s (FTC) request to temporarily block Microsoft Corp’s acquisition of Activision Blizzard, a video game maker. The judge, Edward Davila, scheduled a two-day evidentiary hearing on the FTC’s request for a preliminary injunction to take place on June 22-23 in San Francisco. Without the court order, Microsoft…
Amazon is testing the use of artificial intelligence (AI) to summarize customer feedback on its platform, potentially reducing the time shoppers spend reading reviews before making a purchase. For instance, on the product page for Apple’s third-generation AirPods, the AI feature now provides a summary of over 4,000 user ratings. It highlights positive feedback about…
Elizabeth Holmes, the disgraced former Theranos CEO, is arguing that she has “limited financial means” and should not be required to pay $250 per month to the victims of her crimes once she is released from prison, according to a court filing by her lawyers. This development comes after federal prosecutors acknowledged in a separate…
When Tim Cook took over as Apple CEO from Steve Jobs nearly 12 years ago, there were doubts about whether the company had reached its peak. However, under Cook’s leadership, Apple’s market cap has skyrocketed by over 700%, reaching almost $3 trillion. The iPhone business has continued to thrive, driven by innovative features and pricing…
Grubhub, the food delivery brand, is facing challenges and has decided to lay off 400 corporate employees, which accounts for approximately 15% of its workforce. The CEO of Grubhub, Howard Migdal, acknowledged the tough decisions in a letter sent to the staff and posted on the company’s website. He emphasized the need to maintain competitiveness,…
Fool.com contributor and finance professor Parkev Tatevosian compares Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Meta Platforms (NASDAQ: META) to determine which growth stock is better for long-term investors. This video was originally published on the Parkev Tatevosian, CFA YouTube channel
The Federal Trade Commission (FTC) has taken action to halt Microsoft’s proposed acquisition of Activision Blizzard, seeking a court order to block the $69 billion deal. The FTC filed a lawsuit against the companies in San Francisco and requested a temporary restraining order. The regulatory body expressed concerns that if the deal were to proceed…
The Reddit community is currently in the midst of a significant rebellion. Many of the platform’s most popular subreddits, where users gather to discuss various topics, have chosen to “go dark” as a form of protest against announced changes to Reddit’s application programming interface (API) pricing policies. This move has effectively shut down large portions…
Microsoft is exploring the use of its AI capabilities to enhance its advertising business. The company has filed a patent for a machine learning model that incorporates “incrementality estimation” to predict the performance of sponsored content. Microsoft defines incrementality as the impact of ad budget on performance. The model is trained to forecast how content…
Today, we have an exciting video lined up as we dive into the full impressions of the highly anticipated Apple Vision Pro AR and VR headset as captured by MrWhoseTheBoss, a YouTube channel dedicated to the latest tech reviews and insights. With its unique blend of virtual reality and augmented reality, this headset represents Apple’s…
JPMorgan Chase has agreed to pay $290 million to settle a class-action lawsuit brought by Jeffrey Epstein’s sexual abuse victims, according to attorney David Boies representing the victims. The victims accused the bank of facilitating sex trafficking while Epstein was a client. In a joint statement, JPMorgan Chase and the victims’ attorneys announced that they…
Fred Ryan, the publisher and chief executive of The Washington Post, has announced his departure from his position after nearly a decade of leading the newspaper. Ryan, who had previously worked for former President Ronald Reagan, revealed that he will be heading the nonpartisan Center on Public Civility, a new initiative by the Ronald Reagan…
Days after Apple unveiled its $3,499 mixed reality headset, Meta CEO Mark Zuckerberg took a veiled swipe at the company’s pricing and product vision. Speaking at an all-hands meeting with Meta employees, Zuckerberg contrasted Apple’s demos of a person sitting alone on a couch with Meta’s focus on active engagement through its Quest VR headset…
The Biden administration is poised to approve New York City’s Central Business District Tolling Program, popularly known as “congestion pricing,” after the conclusion of a public review period on Monday. This program, the first of its kind in the United States, aims to toll vehicles entering Lower Manhattan below 60th street to alleviate traffic congestion….
The Securities and Exchange Commission has declared the activities of a cryptocurrency site known as Binance illegal in Nigeria. The Commission disclosed this in a statement posted on its website recently. It stated that Binance is neither registered nor regulated by it, and its operations in the country are illegal. It noted that anyone conducting…
Tesla (TSLA) stock experienced a surge this week after General Motors (GM) announced that their electric vehicles would be compatible with Tesla’s charging network. This news followed a similar announcement made by Ford just two weeks prior. At the time of writing, Tesla’s stock had risen by approximately $12 per share or 5% for the…
During Apple’s recent unveiling of its high-priced mixed reality headset, one notable absence was the executives wearing the device themselves. Speculation suggests that Apple’s decision may stem from a desire to avoid becoming the subject of memes and ridicule. However, the bigger issue lies in the challenge of making VR headsets appear cool. Over the…
Netflix’s crackdown on password sharing in the United States is yielding positive results, as early data suggests a significant increase in new subscriber sign-ups compared to the early days of the Covid pandemic. According to streaming analytics company Antenna, late May marked Netflix’s “four single largest days” of new user sign-ups in over four years…
Adobe, known for its innovative software, has embraced the potential of artificial intelligence (AI) and is positioning itself as a frontrunner in the AI revolution. Despite concerns that AI could negatively impact Adobe’s sales, the company believes that AI will actually enhance the usage and interest in its creative software applications such as Photoshop, Illustrator,…
Shares of Affirm Holdings (AFRM) experienced a significant surge on Wednesday following the announcement of a partnership with Amazon Pay (AMZN). This collaboration will enable merchants utilizing Amazon Pay to integrate Affirm’s “Adaptive Checkout” feature, providing customers with the option to pay for their purchases over time. The technology is already accessible on Amazon.com and…
“The Little Mermaid” has faced a disappointing response from moviegoers in China and South Korea, partly due to racist criticisms surrounding the casting of Black actress Halle Bailey as the main character Ariel. In mainland China, the Disney live-action remake has only earned $3.6 million since its release on May 26, according to Box Office…
Coca-Cola is set to introduce a new limited-edition flavor called Coca-Cola Ultimate, targeting the growing demographic of gamers that has caught the attention of mainstream food and beverage brands. The soda giant has collaborated with Riot Games, the publisher of the popular multiplayer online battle arena game League of Legends, for this venture. Coca-Cola Ultimate…
Chris Licht, the CEO and chairman of CNN, has announced his departure from the company after a brief one-year tenure marked by significant missteps. The news was shared with CNN employees during the network’s daily editorial call by David Zaslav, the CEO of parent company Warner Bros. Discovery. Licht’s exit comes in the wake of…
Apple announced new software for its iPhone, iPad, Mac, Apple Watch at WWDC on Monday, June 5, alongside a new MacBook Air and Apple Vision Pro, its pricey but exciting mixed-reality headset. Most years, though not all, the news of great new software isn’t good news for some Apple device owners. We can expect that…
Spotify, the popular audio streaming company, is implementing a workforce reduction in its podcasting unit, resulting in 200 employees being laid off, which accounts for approximately 2% of the company’s global workforce. In a statement released on Monday, the Sweden-based company acknowledged the difficult decision it had to make, describing it as a strategic realignment…
Apple has unveiled Apple Vision Pro, a revolutionary spatial computer that seamlessly blends digital content with the physical world, while allowing users to stay present and connected to others. Vision Pro creates an infinite canvas for apps that scales beyond the boundaries of a traditional display and introduces a fully three-dimensional user interface controlled by…
Prominent Yoruba Nollywood actress, Iyabo Ojo takes a stand against the excessive tax levy imposed by the Lagos State Government. In a recent Instagram post, she expressed her refusal to pay the exorbitant amount of N18,640,092 issued by the Lagos Internal Revenue Service. The actress questioned the methodology behind the frequent issuance of such tax…
According to the International Air Transport Association (IATA), the global airline industry is set to rebound from the pandemic and make nearly $10 billion in profit this year. IATA has more than doubled its 2023 profit forecast, projecting net profit of $9.8 billion for airlines, up from the previous estimate of $4.7 billion in December….
Airbnb has taken legal action against New York City in a lawsuit filed challenging the city’s restrictions on short-term housing rentals. The lawsuit specifically targets the Short-Term Rental Registration Law, a local ordinance set to be enforced next month. Under this law, short-term rental hosts in the city are required to register with the mayor’s…
It appears that there is a growing demand for car seats in the United States. In response, Volkswagen introduced the ID. Buzz, an electric van with a retro design, last year, and mentioned that the North American version would be longer and feature three rows of seats. Now, the North American edition of the ID….
A unique collaboration has emerged between streaming giant Netflix and one of the leading nonalcoholic craft breweries in the United States, Athletic Brewing Company, resulting in a brew inspired by the popular Netflix series “The Witcher.” In an official news release, Athletic Brewing Company announced its partnership with Netflix to introduce limited edition, co-branded nonalcoholic…
