Technology

BLOOMBERG Meta Platforms Inc topped forecasts for second-quarter sales and gave a rosy outlook for the current period, signalling that the social networking giant is succeeding in migrating advertisers to its new Reels short-video feature. The company said second-quarter revenue was $32 billion, compared with analysts’ average projections for $31.1 billion. In a statement, Meta said sales in the current ...

BLOOMBERG Apple Inc is asking suppliers to produce about 85 million units of the iPhone 15 this year, roughly in line with the year before, according to people familiar with the matter. The Cupertino, California-based company is aiming to hold shipments steady despite tumult in the global economy and a projected decline in the overall smartphone market. It’s likely to ...

BLOOMBERG It’s rare for corporate brands to become so intertwined with everyday conversation that they become verbs. It’s rarer still for the owner of such a brand to announce plans to intentionally destroy it. Elon Musk decreed that Twitter’s product name would be changed to “X,” and that he is getting rid of the bird logo and all the associated ...

BLOOMBERG Urban air-taxis can begin service over US cities as soon as 2028 by largely adhering to existing flight rules for helicopters and other low-altitude aircraft, according to federal regulators. The Federal Aviation Administration (FAA) timeline is three years beyond the agency’s initial goal of certifying the first of such aircraft by 2025. During initial phases, the taxis will have ...

BLOOMBERG Tata Group plans to build a £4 billion ($5.2 billion) battery plant in the UK to supply electric vehicles made by Jaguar Land Rover Automotive Plc, in a win for Britain’s struggling car industry. JLR and Tata Motors Ltd will be anchor customers for the plant capable of providing 40 gigawatt hours worth of batteries with supplies starting from ...

BLOOMBERG  Elon Musk, who has hinted for months that he wants to build an alternative to the popular ChatGPT artificial intelligence (AI) chatbot, announced the formation of what he’s calling xAI, a company with a mission to “understand the true nature of the universe.” xAI said its team will be led by Musk and staffed by executives who have worked ...

BLOOMBERG  The arrival of Meta Platforms Inc’s Twitter challenger further complicates the investment case for social media firms Snap Inc and Pinterest Inc, whose share price recoveries lag their larger rival. Facebook parent Meta is by far the dominant player in the sector, and that is extending to its stock this year. Shares have outperformed by leaps and bounds, with ...

BLOOMBERG Tata Group, India’s largest conglomerate, is close to an agreement to acquire an Apple Inc supplier’s factory as soon as August, marking the first time a local company would move into the assembly of iPhones, according to people familiar with the matter. A takeover of the Wistron Corp factory in southern Karnataka state, potentially valued at more than $600 ...

BLOOMBERG Apple Inc is planning a retail launch of its Vision Pro headset with appointments and in-store promotion in select US markets early next year, underscoring the niche and complex nature of the mixed-reality device. The company will designate special areas in the stores with seating, headset demo units and tools to size accessories for buyers. While the device will ...

BLOOMBERG It is still early days, but Meta Platforms Inc’s latest app, Threads, could generate some serious cash for the social media giant in the next couple of years, according to Evercore ISI. Threads will reach close to 200 million daily active users and generate about $8 billion in annual revenue over next two years, Evercore ISI analysts led by ...