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Tag: Breaking News: Technology

  • Musk reportedly says Twitter deal at lower cost ‘now not out of the query’

    Tesla Inc CEO Elon Musk attends the International Synthetic Intelligence Convention (WAIC) in Shanghai, China August 29, 2019.

    Aly Music | Reuters

    Elon Musk hinted that he may just search to renegotiate the cost of his Twitter takeover, announcing a deal at a lower cost wasn’t “out of the query,” Bloomberg reported Monday.

    Musk reportedly made the feedback whilst talking at a summit hosted by way of Chamath Palihapitiya, Jason Calacanis, David Sacks and David Friedberg for his or her “All-In” podcast.

    The inventory closed down greater than 8% as traders concern Musk will stroll again on his settlement to procure the social media corporate for $44 billion.

    Twitter stocks have additionally erased all beneficial properties made since Musk disclosed his funding within the corporate on April 4, partially due to a sell-off overdue remaining week. Musk mentioned Friday that the purchase was once “on dangle” whilst he researches the percentage of pretend and unsolicited mail accounts at the platform, which he believes Twitter has misstated.

    Musk on Monday estimated that pretend customers make up a minimum of 20% of all customers, in step with the Bloomberg document. Twitter, in the meantime, has mentioned the accounts made up fewer than 5% of its monetizable day-to-day lively customers previously quarter.

    Learn the overall tale from Bloomberg right here.

  • Microsoft CEO Satya Nadella tells workers that pay will increase are at the approach

    Microsoft CEO Satya Nadella speaks throughout the Microsoft Annual Shareholders Assembly on the Meydenbauer Middle on November 28, 2018 in Bellevue, Washington. Microsoft not too long ago surpassed Apple, Inc. to transform the arena’s most respected publicly traded corporate.

    Stephen Brashear | Getty Photographs Information | Getty Photographs

    Microsoft CEO Satya Nadella informed staffers on Monday that the corporate is elevating reimbursement because the hard work marketplace tightens and workers cope with expanding inflation.

    A spokesperson for the corporate showed the pay build up, which was once reported previous through GeekWire.

    “Other folks come to and keep at Microsoft on account of our undertaking and tradition, the that means they in finding within the paintings they do, the folks they paintings with, and the way they’re rewarded,” the spokesperson informed CNBC in an electronic mail. “This larger funding in our international reimbursement displays the continued dedication we need to offering a extremely aggressive revel in for our workers.”

    Inflation jumped 8.3% in April, final on the subject of a 40-year top. In the meantime, the U.S. financial system continues so as to add jobs and unemployment has ceaselessly been falling, achieving 3.6% closing month. Tech firms were responding with wage bumps.

    Google mum or dad Alphabet is adjusting its efficiency machine in some way that may carry upper pay to employees, whilst Amazon dedicated to greater than doubling most base pay for company workers.

    Nadella informed workers that the corporate is “just about doubling the worldwide benefit funds” and allocating more cash to other people early and in the midst of their careers and the ones in explicit geographic spaces. He mentioned the corporate is elevating annual inventory levels through a minimum of 25% for workers at stage 67 and underneath. That comes with a number of tiers within the corporate’s hierarchy of software-engineering roles.

    Within the first quarter, Microsoft larger analysis and building prices, which come with payroll and stock-based reimbursement prices, through 21%. The corporate strengthened spending in cloud engineering as Microsoft tries to stay tempo with Amazon Internet Products and services. Analysis and building expansion has speeded up for 5 consecutive quarters.

    Whilst the most important tech firms were lifting pay to take a look at and retain ability, some smaller firms were imposing layoffs because the battle in Ukraine and provide shortages pressure their companies. Carvana and Robinhood are amongst the ones which are reducing body of workers.

    WATCH: Jefferies senior analyst Brent Thill says he is certain on cloud shares long-term

  • Twitter CEO explains how the corporate if truth be told fights spambots in rebuttal to Musk

    Twitter CEO Parag Agrawal on Monday laid out how the social media corporate fights pretend and unsolicited mail accounts at the platform.

    The guidelines, posted in a long Twitter thread, comes simply days after Elon Musk stated he would put his $44 billion acquisition of the corporate “on dangle” whilst he researches the share of faux and unsolicited mail accounts at the platform.

    Agrawal stated the staff updates its programs and laws “continuously” to lend a hand take down as a lot unsolicited mail as imaginable, with out by chance postponing actual other folks or including friction to the person revel in.

    Twitter has stated false or unsolicited mail accounts represented fewer than 5% of its monetizable day-to-day lively customers up to now quarter. Agrawal stated that estimate is in line with “a couple of human critiques (in reflect) of hundreds of accounts, which can be sampled at random, constantly through the years, from *accounts we depend as mDAUS.”

    The corporate’s human evaluation procedure is in line with its laws that outline unsolicited mail and platform manipulation, he stated, the usage of each private and non-private knowledge, like IP deal with and geolocation, to make a resolution on every account.

    “There are LOTS of main points which can be crucial beneath this high-level description,” he stated in a tweet. “We shared an outline of the estimation procedure with Elon every week in the past and stay up for proceeding the dialog with him, and all of you.”

    Musk replied to Agrawal’s tweets with a smiling feces emoji. He later added: “So how do advertisers know what they are getting for his or her cash? That is elementary to the monetary well being of Twitter.”

    After pronouncing his intent to procure the corporate ultimate month, Musk stated one among his primary priorities could be to take away unsolicited mail bots from the platform.

    However the Tesla CEO in contemporary days has been expressing doubt concerning the deal in public, because of what he perspectives because the selection of pretend customers at the platform mixed with issues about Twitter’s accuracy on the subject of reporting pretend accounts.

    Musk stated he would get started taking random samples to resolve the level of the issue.

    “To determine, my staff will do a random pattern of 100 fans of @twitter. I invite others to copy the similar procedure and spot what they uncover,” Musk wrote. Professionals in social media, disinformation and statistical research advised CNBC over the weekend that Musk’s advised solution to additional research is woefully poor.

    As a part of the deal phrases, Musk is illegitimate from pronouncing destructive issues about Twitter and its workers, despite the fact that it is not transparent what would occur if he violated the clause.

    Subscribe to CNBC on YouTube.

  • Uber’s large new replace permits you to ebook birthday celebration buses, electrical cars and extra — here is what’s new

    Dara Khosrowshahi, leader govt officer of Uber Applied sciences Inc., smiles all through a Bloomberg Generation tv interview in San Francisco, California, U.S., on Tuesday, Dec. 14, 2021.

    David Paul Morris | Reuters

    Uber introduced its newest slate of updates Monday forward of what is anticipated to be a hectic shuttle and occasions season.

    The options, introduced all through its Move/Get digital tournament, come with:

    A brand new choice that allows you to ebook a bus or passenger van.A commute itinerary characteristic to assist ebook rides all through a longer commute, like a holiday, from one position to some other.Voice orderingAn electrical automobile hub for drivers.

    Uber has been operating towards turning into a “tremendous app” to be able to diversify its choices, which might doubtlessly assist power long-term profitability. For instance, the corporate is including trains, buses, planes and automobile leases to its U.Okay. app this summer time.

    Listed below are the important thing choices:

    Zoom In IconArrows pointing outwardsUber Shuttle

    Uber will let customers reserve rides for each and every a part of their itinerary in a single hub at the app. A consumer first connects their Gmail account to the app, then Uber pulls out reservation data and organizes flight, resort and eating place plans into one position for what it calls a “relaxing shuttle enjoy.” Individuals who ebook with Uber Shuttle gets 10% again in Uber money for each and every reserved journey. The characteristic rolls out Monday within the U.S. and within the coming weeks in Canada.

    Zoom In IconArrows pointing outwardsUber Constitution

    Uber is extending its ride-hailing features thru a partnership with U.S. Coachways. The corporate will let folks ebook massive cars like a birthday celebration bus, passenger van or trainer bus at once within the app, with the pricing in advance. The characteristic will release around the U.S. this summer time.

    Zoom In IconArrows pointing outwardsUber Eats at Stadiums

    Uber is rolling out in-venue ordering on Uber Eats and Postmates at sure stadiums around the U.S. and France. Customers will be capable of position their orders from concessions at their respective stadiums and skip the road to pick out up their order when it is able. Uber Eats at Stadiums is to be had in California at Dodger Stadium and Angel Stadium; in New York at Yankee Stadium; in Washington, D.C. at Capital One Enviornment; in Houston at Minute Maid Park; in San Jose, California, at PayPal Park; and in Rennes, France, at Roazhon Park.

    Voice Ordering

    Customers too can get started ordering Uber Eats with their Google Assistant thru a brand new integration. All a buyer has to do is say “OK Google,” and ask to reserve a meal from a cafe on Uber Eats. The characteristic has began to roll out globally in English, and Uber will upload extra languages within the coming months.

    Zoom In IconArrows pointing outwardsEV Hub and Charging Map

    Uber has made an international dedication to grow to be a zero-emissions mobility platform by way of 2040, however it’ll want to get drivers on board. With that, the corporate introduced a brand new in-app gadget for drivers on the lookout for extra data on electrical cars. The EV Hub is being billed as “a one-stop store the place they (drivers) can get knowledge and incentives to sign up for the electrical revolution, or even examine the price of possession of an EV with a non-EV.” Uber could also be including a charging map to the Uber Driving force app, which presentations the place the closest EV chargers are situated, what the charging speeds are and learn how to get there.

    Uber Convenience Electrical

    Uber is rolling out convenience electrical, which permits customers to journey in a top rate EV, akin to a Tesla or Polestar. The characteristic is to be had Tuesday in Los Angeles, San Francisco, San Diego and Dubai, and is anticipated to amplify to different markets quickly.

    Vouchers for Occasions

    Customers can now quilt the price of rides for tournament visitors with vouchers. The individual webhosting will input the development main points, the utmost quantity they need to pay and percentage the generated code with their visitors. The visitors will decide their very own pickup and drop-off instances and their selected location.

  • Trump’s loose to make use of Twitter if Musk lifts his ban, however he has to put up on Fact Social first

    Former President Donald Trump speaks to supporters right through a rally on the I-80 Speedway on Might 01, 2022 in Greenwood, Nebraska.

    Scott Olson | Getty Photographs

    Former President Donald Trump will in part prohibit himself on social media, despite the fact that Elon Musk lifts Trump’s ban on Twitter, in step with an SEC submitting from Virtual Global Acquisition Corp.

    Trump is obligated to first put up to Fact Social, a brand new social community he is backing, and cannot put up the similar content material on every other social media website online for 6 hours. After that, he can put up to “any website online to which he has get entry to,” in step with the submitting.

    The six-hour coverage would most commonly have an effect on Trump’s Twitter use if he is allowed again at the platform below possible proprietor Musk.

    Trump continues to be loose to put up from a non-public account about political messaging, political fundraising or get-out-the-vote efforts on any platform at any time, the submitting added, which might give him leeway in case he runs for administrative center in 2024.

    Virtual Global Acquisition has a deal to take Trump Media & Generation Crew, which owns Fact Social, public.

    Twitter completely suspended Trump from the platform in January 2021 following the assault through his supporters at the U.S. Capitol. The corporate stated it made the verdict after the Jan. 6 revolt “because of the danger of additional incitement of violence.” Trump was once an avid tweeter and on the time had greater than 80 million fans at the platform.

    Trump has stated he would not go back to Twitter despite the fact that invited, however CNBC prior to now reported that some folks with regards to him say they be expecting Trump to come back again to the platform anyway.

    Subscribe to CNBC on YouTube.

  • Amazon’s Bezos criticizes Biden over inflation tweet

    Amazon CEO Jeff Bezos speaks right through the UN Local weather Trade Convention (COP26) in Glasgow, Scotland, Britain, November 2, 2021.

    Paul Ellis | Reuters

    Amazon founder Jeff Bezos took intention at President Joe Biden on Friday over a tweet that stated inflation may well be introduced down via taxing rich firms.

    Biden previous within the day tweeted: “You wish to have to deliver down inflation? Let’s ensure the wealthiest firms pay their fair proportion.”

    Bezos, whose corporate has benefited from tax credit and deductions, quoted the tweet to retort: “The newly created Disinformation Board will have to assessment this tweet, or possibly they wish to shape a brand new Non Sequitur Board as an alternative,” the previous CEO stated, it appears regarding the Division of Hometown Safety’s Disinformation Governance Board. “Elevating corp taxes is ok to talk about. Taming inflation is significant to talk about. Mushing them in combination is solely misdirection.”

    Whilst he did not name out Amazon particularly in that tweet, Biden has up to now criticized the corporate’s tax historical past. Amazon paid no federal source of revenue taxes in 2017 and 2018.

    The Twitter spat comes as inflation reaches ranges now not observed in many years, affecting the price of very important items like gasoline, meals and housing. Federal Reserve officers have spoke back to the issue with two rate of interest hikes thus far this yr. They have pledged extra till inflation comes right down to the central financial institution’s 2% objective.

    Subscribe to CNBC on YouTube.

  • Salesforce dumped remainder of its Snowflake stocks all over first-quarter marketplace plunge

    Marc Benioff, chairman and co-chief govt officer of Salesforce.com Inc., speaks on the Dreamforce convention in San Francisco on Nov. 19, 2019. Salesforce’s annual device convention, the place it introduces new merchandise and discusses its dedication to social reasons, used to be interrupted for the second one 12 months in a row via protests towards the corporate’s paintings with the U.S. executive.

    David Paul Morris | Bloomberg | Getty Pictures

    Salesforce has offered out of the remaining of its stocks in data-analytics device maker Snowflake, in step with a regulatory submitting on Friday.

    Salesforce, which makes investments thru its Salesforce Ventures unit, nonetheless owns a stake in 5 public firms, together with Robinhood and Monday.com, the submitting displays. The corporate had up to now unloaded 95% of its Snowflake stocks, lowering its holdings to $35 million price on the finish of 2021. Salesforce offered the rest stocks within the first quarter, when Snowflake plunged 32%.

    Whilst Salesforce hasn’t but reported effects for its newest quarter, different giant firms that still spend money on their tech friends have racked up billions of greenbacks in losses from the ones holdings. Salesforce will in a similar way be required to reckon with mark-to-market accounting after notching funding features of $3.38 billion over the past two years, when tech shares have been hovering.

    Snowflake used to be a large funding of Salesforce on the time of the transaction. Snowflake debuted at the New York Inventory Change in September 2020 within the greatest device IPO ever on the time. Salesforce purchased 2.1 million stocks within the IPO for $250 million, making an investment along Warren Buffett’s Berkshire Hathaway, which made a gamble of equivalent measurement.

    The IPO pop and next rally despatched Salesforce’s stake previous $520 million briefly order. Salesforce had a equivalent fortune after making an investment in Zoom’s IPO the prior 12 months.

    However the whole thing in cloud device became south in overdue 2021, as inflationary pressures and issues over rates of interest hammered the tech business. Cash-losing firms like Snowflake were hit the toughest, whilst companies that benefited from the pandemic growth in far off paintings also are coming to grips with a reopening of places of work.

    Nonetheless, Salesforce made a good-looking go back on its funding. The inventory used to be priced at $120 within the IPO, and traded between $164.29 and $344 within the first quarter. Salesforce had already exited maximum of its place via mid-2021, promoting when the inventory used to be most commonly buying and selling smartly over $200.

    A Salesforce consultant didn’t right away reply to a request for remark.

    In a display of improve for Snowflake CEO Frank Slootman, Salesforce co-CEO Marc Benioff equipped a blurb for Slootman’s ebook, “Upward push of the Information Cloud.” Benioff stated it “tells the superb tale of ways Snowflake reimagined the idea that of an information warehouse, making a in reality cutting edge cloud platform.”

    Snowflake has persevered to tumble since Salesforce offered out. The inventory is down 53% to this point this 12 months, and on Wednesday fell to its lowest because the IPO. The stocks rallied the previous two days as tech shares bounced again.

    In overdue April Wolfe Analysis initiated protection with the identical of a purchase ranking, pronouncing Snowflake gives “a best-in-SaaS product” and famous that the inventory is buying and selling for “Black Friday costs.”

    WATCH: Why Citi’s Tyler Radke says it is time to be selective with device shares

  • Twitter CEO expects Musk deal to near however is getting ready for different eventualities

    Parag Agrawal named Twitter CEO on Nov twenty ninth, 2021.

    Courtesy: Twitter

    Twitter CEO Parag Agrawal stated Friday that he nonetheless expects the sale to Elon Musk to move via, however he is proceeding to run the corporate in case it does not.

    “Whilst I be expecting the deal to near, we wish to be ready for all eventualities and at all times do what is proper for Twitter,” Agarwal stated in a tweet. “I am answerable for main and working Twitter, and our activity is to construct a more potent Twitter each day.”

    Musk tweeted previous on Friday that the deal is on cling till he reveals out extra main points on what number of faux accounts, like junk mail bots, are at the platform. The inventory sank nearly 10%, including to a up to date plunge within the corporate’s worth. It is now value about $13 billion lower than Musk’s agreed upon bid closing month of round $44 billion.

    However Musk won’t be capable to simply stroll away. He’d be at the hook for a $1 billion breakup rate and may just face a breach of contract lawsuit that might price him billions extra, CNBC reported previous.

    Agarwal’s feedback via a chain of tweets come an afternoon after the corporate stated it was once freezing hiring, rescinding provides and reducing prices. Two executives additionally left the corporate, together with head of shopper Kayvon Beykpour, who stated Agarwal requested him to go away.

    “Other folks have additionally requested: why set up prices now vs after shut?” Agarwal wrote. “Our trade is in an overly difficult macro atmosphere – presently. I would possibly not use the deal as an excuse to keep away from making vital choices for the well being of the corporate, nor will any chief at Twitter.”

    Agrawal added that he’s going to attempt to convey extra transparency to the paintings Twitter is doing to enhance public conversations at the platform.

    Subscribe to CNBC on YouTube. 

    WATCH: Elon Musk says he is ‘nonetheless dedicated’ to Twitter deal

  • Elon Musk says Twitter deal on cling pending main points on pretend accounts; stocks plunge 18%

    Elon Musk, all the way through an match at SpaceX headquarters in Hawthorne, California, U.S., on Thursday, Oct. 10, 2019.

    Bloomberg /Getty

    Elon Musk introduced Friday that his Twitter deal is on cling till he receives extra details about what number of pretend accounts there are at the social media platform.

    Twitter’s inventory plummeted 18% following the announcement. A spokesperson for the social media corporate didn’t instantly reply to a CNBC request for remark.

    Tesla CEO Musk introduced remaining month that he intends to shop for Twitter for $44 billion and he is up to now tweeted that one in all his primary priorities could be to take away “unsolicited mail bots” from the platform.

    Even prior to Friday’s announcement, the corporate’s marketplace worth had fallen to $9 billion underneath the be offering value because of issues in regards to the deal.

    Musk, who is anticipated to function Twitter’s transient CEO if the deal is going forward, must pay a $1 billion breakup price will have to he make a choice to stroll away. Musk is price greater than $220 billion.

    Twitter estimated in a submitting previous this month that fewer than 5% of its monetizable day-to-day energetic customers all the way through the primary quarter had been bots or unsolicited mail accounts.

    Musk, who’s the sector’s richest particular person on paper, now needs the corporate to verify this prior to he continues with the deal, which is being partially funded through Oracle founder Larry Ellison and mission capital company Andreessen Horowitz.

    The San Francisco-headquartered social media corporate stated within the submitting that it had 229 million customers within the first quarter who had been served promoting.

    On Tuesday, Musk stated that he would elevate Twitter’s ban on former President Donald Trump if he is taking over the corporate.

    “Everlasting bans will have to be extraordinarily uncommon and actually reserved for accounts which might be bots, or rip-off, unsolicited mail accounts … I do suppose it was once no longer proper to prohibit Donald Trump,” Musk stated at FT Are living’s Long term of the Automobile convention. “I believe that was once a mistake, as it alienated a big a part of the rustic and didn’t in the end lead to Donald Trump no longer having a voice.”

    Previous this month, Invoice Gates warned that Musk may just make Twitter “worse.” Talking at The Wall Side road Magazine’s CEO Summit, Gates stated it is unclear how Musk will trade Twitter if he is taking possession whilst additionally elevating issues in regards to the unfold of incorrect information on social media platforms.

    Gates went on to query what Musk’s purpose is with Twitter and whether or not his power to advertise unfastened speech is smart. “What are his targets for what it finally ends up being? Does that fit this concept of much less excessive falsehoods spreading so briefly [and] bizarre conspiracy theories? Does he percentage that purpose or no longer?” Gates stated.

    Sooner than Musk made his bid to shop for Twitter outright, he did not expose a greater than 9% stake within the corporate inside the SEC’s necessary 10-day window.

    The Knowledge reported that the Federal Industry Fee is probing the timing of Musk’s disclosure. Bloomberg later stated the FTC is one after the other reviewing the purchase itself, even though many mavens do not be expecting the deal to lift antitrust issues.

    The FTC does not expose ongoing investigations, and an FTC spokesperson declined to remark.

    Tesla’s percentage value climbed 7% in premarket buying and selling Friday.

    — Further reporting through CNBC’s Lauren Feiner.

  • Salesforce tells workers fearful about abortion get entry to that it is going to lend a hand them relocate

    CEO of Salesforce Marc Benioff attends a gathering with U.S. President Joe Biden and personal sector CEOs within the State Eating Room of the White Area on January 26, 2022 in Washington, DC.

    Drew Angerer | Getty Pictures

    Salesforce instructed workers in a Slack message on Thursday that the corporate will lend a hand them relocate if they are fearful about get entry to to abortions or different clinical procedures following an anticipated ruling from the U.S. Perfect Court docket that will strike down Roe v. Wade.

    “You probably have considerations about get entry to to essential well being care on your state, Salesforce will supply monetary toughen for commute, to be had via our well being care suppliers, and/or lend a hand relocate you and contributors of your instant circle of relatives,” Brent Hyder, Salesforce’s president and leader folks officer, wrote within the Slack publish, which was once considered by way of CNBC.

    A Salesforce consultant declined to remark.

    Salesforce and different huge tech firms have dedicated to masking commute prices for his or her employees who would possibly want to commute for abortions. They began letting workers find out about that possibility after a leaked Perfect Court docket draft opinion final week published the prime court docket’s obvious intent to overturn the 1973 ruling that made get entry to to a secure abortion a constitutional proper.

    Of the 50 U.S. states, 26 would or are more likely to ban abortion if Roe is overturned, in line with the nonprofit Guttmacher Institute.

    Hyder referred workers to knowledge to be had internally on commute and relocation products and services for reproductive well being care. He stated Lori Castillo Martinez, the corporate’s leader equality officer, “and I need to recognize that the hot information in this subject is deeply private for lots of, particularly ladies.”

    The corporate could also be providing counseling from Lyra Well being, a start-up enthusiastic about offering psychological well being products and services to companies and different organizations.

    “In case you are suffering with the hot information on reproductive healthcare, a Lyra counselor will probably be facilitating small crew classes (max 25 folks) enthusiastic about guiding workers via techniques you’ll take care of pressure,” Hyder wrote.

    Amazon and Apple have agreed to reimburse their workers who get abortions in different states, CNBC reported an afternoon after the draft opinion leaked. Microsoft has additionally joined the fray.

    “Microsoft will proceed to do the whole lot we will be able to underneath the regulation to offer protection to our workers’ rights and toughen workers and their enrolled dependents in getting access to essential healthcare – which already comprises products and services like abortion and gender-affirming care – without reference to the place they are living around the U.S.,” a Microsoft spokesperson wrote in an e-mail. “This toughen is being prolonged to incorporate commute expense help for those and different clinical products and services the place get entry to to care is restricted in availability in an worker’s house geographic area.”

    Salesforce has been outspoken on social problems previously, together with in September, when co-CEO Marc Benioff stated on Twitter that the corporate would lend a hand workers go away Texas after an anti-abortion regulation within the state went into impact.

    In 2015, Benioff stated Salesforce was once being “compelled to dramatically cut back our funding” in Indiana as a result of shoppers and workers have been unsatisfied in regards to the state’s Non secular Freedom Recovery Act. Critics fearful that the regulation would permit companies to disclaim products and services to LGBTQ folks on non secular grounds. Salesforce has a large presence in Indiana as a result of it is the house of ExactTarget, which Salesforce got for $2.5 billion in 2013.

    WATCH: Senate vote to transport ahead on a invoice that will have secure abortion get entry to fails