Technology

BLOOMBERG Instacart joined chip designer Arm Holdings Ltd in moving ahead with an initial public offering, adding momentum to a return of high-profile listings. The largest US online grocery delivery company disclosed in its filing with the US Securities and Exchange Commission that PepsiCo will buy $175 million in preferred convertible stock. The company also revealed it turned a profit ...

BLOOMBERG Meta Platforms Inc, Google and X, formerly known as Twitter, will need to adhere to strict new content moderation rules in the European Union (EU) when a new law governing social media platforms becomes legally enforceable. Alphabet Inc’s Google said that it’s making several changes to comply with the EU’s Digital Services Act (DSA), including expanding access to data ...

BLOOMBERG Nvidia Corp shares were set to hit a record high in early trading after the chipmaker at the forefront of an industrywide artificial intelligence (AI) race delivered a third-straight sales forecast that surpassed Wall Street estimate. Shares rose 8.7% to $512 before markets in New York opened on Thursday after Nvidia said sales will be about $16 billion in ...

BLOOMBERG Snap Inc is appointing a former Google executive to lead its India operations as it strives to become a major social media force in a key growth market. Pulkit Trivedi will start as Snap’s managing director for India, the Snapchat parent said. The company also announced a new, localised organisational structure for the region, with teams such as those ...

BLOOMBERG Twilio Inc is launching new AI-powered features in its suite of data management services, responding to customer demand on how best to use the emerging technology to expand their businesses. With the new tools, clients will be able to generate suggestions about marketing strategy and use internal data to build automated contact support services, the company announced ahead of ...

BLOOMBERG Turkish startup Getir said it struggled to pay some bills in Germany and will cut more than 10% of its global workforce, as the rapid delivery service seeks to raise new funds and attempt to turn around its cash-hungry business. About 2,500 employees will be cut overall, though the company will continue operating in its five current markets, Istanbul-based ...

BLOOMBERG Alibaba Group Holding’s e-commerce arm in China is hiring more than 2,000 graduates amid record youth unemployment and as authorities eased their regulatory crackdown on technology platforms. Taotian Group, the unit which includes Taobao and Tmall, is recruiting the graduates for a range of roles including design, product and data, according to a post on its official recruitment Wechat ...

BLOOMBERG Hon Hai Precision Industry Co now expects 2023 sales to fall after previously forecasting flat revenue, sounding a warning about demand for the devices it makes for Apple Inc and other global firms. Taiwanese company now expects most of its main business segments, including smartphones, to contract “slightly” this quarter and over the entire year, as global economic malaise ...

BLOOMBERG Huawei Technologies Co grew sales for a third straight quarter, after new businesses like cloud services and a resurgent smartphone unit helped mitigate the fallout from US sanctions. Revenue rose 4.8% to 178.8 billion yuan ($24.7 billion) in the three months ended June, according to calculations by Bloomberg News based on the company’s first-half numbers. Net income almost tripled, ...

BLOOMBERG California regulators voted in favour of robotaxi operators expanding their paid driverless services in the city of San Francisco, a major milestone toward commercialising the technology. The state’s Public Utilities Commission voted 3 to 1 to allow General Motors Co’s Cruise LLC and Alphabet Inc’s Waymo to increase the areas of the city where they can operate a car ...