Innoviz wins $4 billion deal for Volkswagen lidar

In this illustration, the Innoviz Technologies logo is displayed on a smartphone. Rafael Henrique | SOPA pictures | Lightrocket | Getty Images Israeli lidar maker Innoviz announced Tuesday that it has won a contract to supply lidar modules and related software for autonomous driving to a unit of Volkswagen, in a deal worth $4 billion … Read more

Hackers drain nearly $200 million from crypto firm Nomad

Billions of dollars in value have been wiped out of the cryptocurrency market in recent months. Companies in the industry are feeling the pain. Credit and trading companies are facing a liquidity crisis and many companies have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Hackers siphoned off nearly $200 million in … Read more

Uber’s earnings for the second quarter of 2022

Uber Technologies Inc. CEO Dara Khosrowshahi speaks during an interview in San Francisco, Tuesday, Dec. 14, 2021. David Paul Morris | Bloomberg | Getty Images Uber reported a second-quarter loss on Tuesday, but beat analysts’ revenue estimates. Uber shares rose 14% in premarket trading. Here are the key figures: Loss of an item: $1.33, not … Read more

Cryptoverse: Bitcoin hits the heat in July’s jump

A display of virtual currency bitcoin and a one-dollar bill are seen in front of a stock chart in this photo taken Jan. 8, 2021. REUTERS/Dado Ruvic Sign up now for FREE unlimited access to Reuters.com Sign up Aug 2 (Reuters) – It’s been a good month for bitcoin – and we haven’t said that … Read more

A Stanford dropout’s startup worth millions could be India’s unicorn

“When we started this 12 months ago, every conversation we had was, ‘You’re completely nuts, this will never work,’” said Aadit Palicha, CEO of the teenager. Yet Palicha’s company has managed to prove those skeptics wrong – it’s now approaching unicorn status and is one of India’s fastest-growing e-commerce apps. A unicorn is a startup … Read more

Pinterest (PINS) Q2 2022 Earnings

A woman walks past a sign at Pinterest’s headquarters in San Francisco’s South of Market neighborhood. Smith Museum | Gadó | Archive images | Getty Images Pinterest shares rose on better-than-expected user numbers, even as revenue and earnings missed estimates and the company gave weak guidance for the third quarter. Activist investor Elliott Management separately … Read more

The US is considering action against memory chip manufacturers in China

WASHINGTON, Aug 1 (Reuters) – The United States is considering limiting shipments of U.S. chip-making equipment to memory chip makers in China, including Yangtze Memory Technologies Co Ltd (YMTC), according to four people familiar with the matter, as part of a bid to stop China’s semiconductor sector is advancing and protecting American companies. If President … Read more

SEC indicts 11 people over alleged $300 million crypto Ponzi scheme

A flag outside the headquarters of the US Securities and Exchange Commission in Washington, DC, US, Wednesday, February 23, 2022. Al Drago | Bloomberg | Getty Images On Monday, the Securities and Exchange Commission said it charged 11 people for their roles in creating and promoting an alleged fraudulent crypto pyramid and Ponzi scheme that … Read more

Stephen King plans to fight for the US government in a case against a mega publishing merger

WASHINGTON, Aug 1 (Reuters) – The U.S. Justice Department asked a federal judge on Monday to block the $2.2 billion merger of two of the “Big Five” book publishers, Penguin Random House and Simon & Schuster, in a trial expected to testimony from horror writer Stephen King. “This is real money for real people,” said … Read more

Amazon introduces same-day shipping for some retail brands

An Amazon clerk pulls a delivery cart full of packages during its annual Prime Day promotion in New York City, June 21, 2021. Brendan McDermid | Reuters Amazon said Monday it is adding a handful of retail brands to same-day delivery for Prime members. For starters, Amazon offers same-day delivery from apparel brands PacSun, Diesel … Read more