Vital dispatches on what matters
Meta’s stock surged on Thursday after its first quarter earnings exceeded expectations.
Facebook’s parent company Meta stock increased 15% on Thursday to over $241, up 170% since the bottom at under $89 in November. It came after Wednesday’s earnings report, where the company reached revenue growth of 3% from a year earlier. [Read more…] about Where Meta stands in AI competition
Nintendo has updated the survivalist cooking system in its highly anticipated “The Legend of Zelda: Tears of the Kingdom”. The game’s predecessor, “Breath of the Wild” allows players to unleash their inner chef by cooking dishes with magical health-restoring and element-resisting ingredients. However, in BOTW gamers had to travel to stationary cooking pots and make meals in bulk.
[Read more…] about New Elements to Tears of the Kingdom’s Cooking Revamps the old System
House Majority Leader Kevin McCarthy has proposed legislation to raise the debt ceiling in a rebuke of the Biden Administration’s goals for the U.S. economy. Among the hundreds of sections in the GOP debt ceiling proposal are a string of repeals to Biden-era clean energy investments and tax credits that would stifle any momentum gained by the electric vehicle industry.
At a time when electric vehicle purchases are booming, due to a combination of Biden’s tax credit and the price war being waged by auto manufacturers, the GOP proposal would seriously hamper the nation’s ability to meet the bold EPA goal to increase EV sales by as much as 1,000% by 2032.
[Read more…] about GOP Debt Ceiling Proposal May Gut the EV future
Multiple news outlets, such as NPR and the BBC, are quitting Twitter after Elon Musk labeled them “government-funded media” on the social media platform.
When Twitter puts a label on accounts, it does not recommend them to people, which could significantly impact the account’s online traffic. NPR was the first major news outlet to leave the platform with 52 different Twitter feeds after receiving the label “government-funded” from Mr. Musk.
[Read more…] about Are News Outlets Next to Leave Elon Musk Twitter?
The news of a potential U.S. TikTok ban has sent many nationwide into an uproar: college students, young children, and most importantly, TikTokers. With the possibility of the short-form video app being banned in the U.S., many people who built their life on the platform may lose their primary source of income or fanbase.
The possible U.S. TikTok ban comes from multiple efforts from lawmakers nationwide, Canada, and Europe claiming the social media app has security threats and concerns. Lawmakers claim that the Chinese government could order TikTok to turn over users’ information.
[Read more…] about TikTokers React to Possible U.S. TikTok Ban
Coachtopia, a subsidiary of Coach, launched on Thursday shortly before stocks tumbled, suggesting investors aren’t as confident in the brand’s new reduced-waste merchandise as the creators anticipated.
The brand’s new circular approach broke the internet last week with multiple lines of bags, apparel, influencer collaborations and campaign coverage. Coach’s new ‘ecosystem’ is set to change the way Coach designs, crafts and uses products. While many fashion brands are finding new and inventive ways to improve their sustainable initiatives, Coachtopia is not off to a promising start as Tapestry’s stock price fell nearly 2% by the end of day Thursday.
The subsidiary’s products consist of recycled materials and up-crafted designs, at comparatively similar prices to their first-hand small shoulder and crossbody bags. Styles range in shape, color and patchwork but front and center is the ‘Wavy Dinky,’ which is made out of a variety of recycled materials including leftover leather scraps for the body and multicolor, partially recycled resin for the strap. It also coined a trade-back program, vouching to take any Coachtopia product back, anytime “regardless of its age or condition.”
[Read more…] about Shareholders Unsure of Coach’s Sustainable Debut
In the latest battle of the AI wars, on Monday rumours began swirling that Samsung might be dumping Google’s search engine for the new kid on the block, Microsoft’s ChatGPT enhanced Bing search.
Alphabet shares fell as much as 4% on the reports that Samsung was looking to pick sides in the Bard/ChatGPT race, which Google has been struggling to gain ground on since Bard’s embarrassing unveiling in February.
But the news of the impending breakup might be a blessing in disguise.
[Read more…] about SAMSUNG’S DUMPING OF GOOGLE MAY BE A BLESSING IN DISGUISE
Following the announcement of USA TODAY chief editor’s resignation, staff downsizing has also been observed in other top media outlets, including BuzzFeed News and Insider.
“The economic headwinds that have hurt many of our clients and partners are also affecting us,” Barbara Peng, the president of Insider, wrote in a memo to employees that the media organization will lay off 10% of its staffers, Daily Beast reported.
“Unfortunately, to keep our company healthy and competitive, we need to reduce the size of our team,” she added.
The recent job cuts are indicative of a wider downturn in both the media and tech industries. This decline comes after the rapid growth observed in the aftermath of the pandemic, which has since significantly slowed down in tandem with a decelerating economy.
Meanwhile, via email to NBC News, Jonah Peretti, the CEO and co-founder of BuzzFeed, explained that the company’s recent job cuts were due to a 15% decrease in the workforce across several teams.
[Read more…] about BuzzFeed and Insider followed USA TODAY’s staff downsizing move
Tesla shares experienced their second-largest trading loss of the year after the first-quarter earnings of the electric vehicle giant fell short of market expectations. This has raised concerns about the impact of the repeated price cuts on the company’s profitability.
The stock slumped Thursday by 9.75% on Nasdaq to close at $162.99, marking the largest decline the company has seen since January 3rd. The current price is the cheapest in three months, and comes after the electric vehicle company’s gross margin dropped below 20% for the first time in almost three years. [Read more…] about Tesla slumps to three-month low as earnings miss estimates
Twitter removed its iconic blue check marks from legacy verified users starting on April 20.
The blue check marks have been removed from celebrities, journalists and public figures who haven’t signed up for subscriptions. Beyonce, Kim Kardashian, Pope Francis, Bill Gates, former president Donald Trump, and even Twitter founder Jack Dorsey lost their blue badges. [Read more…] about Elon Musk Begins Dropping Blue Checkmarks