A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
Meta Platforms, parent company of Facebook Inc. created a tool to predict the structure of hundreds of millions of proteins using artificial intelligence. Researchers say promises to deepen scientists’ understanding of biology, and perhaps accelerate the discovery of new drugs. Meta’s research arm, Meta AI, used the new AI-based computer program known as ESMFold to … Read more
WASHINGTON — The Biden administration is demanding that Chinese owners of TikTok sell their shares in the video-sharing app or face a possible U.S. ban on the app, according to people familiar with the matter. The move represents a major shift in policy by the administration, which has been criticized by some Republicans who say … Read more
Investors feared the fastest interest rate increases in decades meant something in the economy could snap. Last week it was. Now investors are wondering: what else could crack? Silicon Valley Bank was shut down on Friday after being hit by a run on its deposits, the second-largest bank failure in US history. The fallout rocked … Read more
Metaplatforms related to Facebook Inc. META -1.20% plans to announce additional layoffs in several rounds over the next few months that, in total, would be about the same magnitude as the 13% reduction in its workforce last year, according to people familiar with the matter. The new cuts, the first wave of which is expected … Read more
WASHINGTON—The Federal Trade Commission has asked Twitter Inc. to turn over internal communications related to owner Elon Musk, along with detailed information about the layoffs—citing concerns that the staff cuts could jeopardize the company’s ability company to protect users, documents viewed by the Wall Street Journal show. In 12 letters sent to Twitter and its … Read more
Usually cars are the stars. But this week, Elon Musk went out of his way to highlight Tesla Inc. TSLA 3.61% management team, although Wall Street was eager for an update on efforts to develop a new, inexpensive electric car. Sitting on stage Wednesday, Mr Musk was surrounded by 16 executives, in an apparent attempt … Read more
Twitter Inc. reported lower revenue and adjusted earnings for the month of December after many advertisers abandoned the social media platform following the Elon Musk takeover, according to people familiar with the matter. In an update to investors, Twitter reported a roughly 40% year-over-year drop in adjusted revenue and earnings for the month, the people … Read more
disneyIt is SAY 0.15% the smallest superhero doesn’t seem to have many legs. This is a growing problem for the Mouse House and for those presenting its tariff. “Ant-Man and the Wasp: Quantumania” is the 23rd theatrical film Disney has produced and released from its Marvel franchise. That’s not counting the three Sony-produced “Spider-Man” movies … Read more
Discovery of Warner Bros. Inc. WBD -1.14% sues Paramount Global, FOR -4.86% saying he paid the rival media company for exclusive streaming rights to new episodes of ‘South Park’, only for Paramount to put the popular animated comedy’s new content on its own streaming service, Paramount +. In the lawsuit, filed Friday in the New … Read more
