Google parent reports record profit

Alphabet, Google’s parent company, beat its own quarterly profit record in Q1, booking a 32% digital ad sales jump from a year ago. Reuters’ Paresh Dave and Subrat Patnaik reported: Google parent Alphabet Inc (GOOGL.O) on Tuesday reported record profit for the second consecutive quarter and a $50 billion share buyback but warned a surge […]

Tesla reports record profit for Q1

Tesla booked a record-high profit for the first quarter of the year on record car deliveries, bitcoin trade, and clean energy credits. CNBC’s Lora Kolodny reported: Tesla reported first-quarter results after the bell on Monday. The company beat expectations handily, buoyed by sales of bitcoin and regulatory credits, but the stock dipped as much as […]

Amazon to India court: Please ignore Reuters

Amazon.com Inc. told an Indian court on Thursday a Reuters special report into the e-commerce giant’s business practices should not be considered as evidence. Aditya Kalra of Reuters reports, “The Competition Commission of India (CCI) order of investigation into Amazon and Walmart’s Flipkart in January 2020 followed a complaint from a trader group, but a […]

FT wins Malcolm Forbes award from OPC for Wirecard reporting

The Overseas Press Club announced Tuesday that the Financial Times team behind the years-long investigation into the German fintech group Wirecard are the winners of its Malcolm Forbes award for best international business news reporting. The judges credited the work of investigative reporter Dan McCrum, investigations editor Paul Murphy, and foreign correspondents Sam Jones and Olaf […]

Supreme Court rules in favor of Google on Oracle dispute

The Supreme Court ruled that Google had not committed copyright infringement against Oracle when it was developing its Android operating system. CNN’s Brian Fung reported: The Supreme Court has handed Google a win in a decade-old case in software development, holding that the technology giant did not commit copyright infringement against Oracle when it copied […]

Volkswagen says name change was a prank

After media reported on a leaked press release from Volkswagen that said it planned to change the name of its U.S. business, the company said the release was an early April Fools joke. CNBC’s Michael Wayland reported: German automaker Volkswagen will not be changing the name of its U.S. operations to Voltswagen of America after […]

Intel to spend $20 bln on chip factories

Intel has announced an ambitious plan to expand its microchip manufacturing capacity, which will cost it $20 billion. Reuters’ Stephen Nellis reported: Intel Corp will greatly expand its advanced chip manufacturing capacity as the new chief executive announced plans to spend as much as $20 billion to build two factories in Arizona and to open […]

$25-bln railroad merger to link all North America

Canadian Pacific has agreed to acquire Kansas City Southern in a $25-billion deal that will create a trans-North American railroad operator. The Wall Street Journal’s Jacquie McNish reported: Canadian Pacific CP -1.37% Railway Ltd. agreed to acquire Kansas City Southern KSU 0.38% in a transaction valued at about $25 billion that would create the first […]

Apple sues ex-employee for giving trade secrets to reporter

Apple has sued a former product designer at the company for allegedly giving company trade secrets to a reporter, reports Chaim Gartenberg of The Verge. Gartenberg reports, “According to Apple’s suit, Lancaster and his correspondent began communicating in 2018 about the possibility of obtaining information; the two then spent the next year in communication. Lancaster then reportedly […]

Roblox goes public

Gaming company Roblox listed on the NYSE hitting a total value of over $45 billion in its first day of trading. Joshua Franklin and Niket Nishant reported for Reuters: Shares of U.S. gaming company Roblox Corp closed up 54.4% in its New York Stock Exchange trading debut on Wednesday, valuing the company at $45.2 billion. […]