Hertz Offers Renters a Chance to Buy Their EVs
Hertz has begun contacting electric vehicle (EV) renters with offers to purchase their rental cars at prices reflecting its used car sales program. Renters of vehicles such as the Tesla…
Lyft Challenges San Francisco Over $100 Million Tax Dispute
Lyft has accused San Francisco of overcharging $100 million in taxes between 2019 and 2023, claiming the city miscalculated its gross receipts by including driver compensation as part of the…
Growth in China’s Foldable Smartphone Market Slows This Year
China’s foldable smartphone market is losing momentum in shipment growth, according to Counterpoint Research. While the country is projected to account for over half of global foldable handset shipments in…
Netflix Sues Broadcom’s VMware Over Virtual Machine Patents
Netflix has filed a lawsuit against VMware, a subsidiary of Broadcom, claiming that the company has infringed on five of its patents related to virtual machine operations. The lawsuit, submitted…
Telegram Achieves Profitability as Revenue Hits $1 Billion in 2024
Telegram has reached profitability, according to founder Pavel Durov, who shared the milestone in a post on Monday. The popular messaging app achieved over $1 billion in total revenue for…
CFPB Sues Walmart Over Unauthorized Bank Accounts for Delivery Drivers
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Walmart and payroll service provider Branch Messenger, alleging they engaged in deceptive and abusive practices affecting gig workers. The…
Lumen Technologies Begins Process to Sell Consumer Fiber Unit
Lumen Technologies has begun the process of selling its consumer fiber business, signaling a shift in its operational focus while addressing its substantial debt, sources familiar with the matter disclosed.…
Elon Musk’s xAI Raises $6 Billion
Elon Musk’s AI company, xAI, has secured another $6 billion in funding, bringing its total raised to $12 billion in just half a year. The latest investment round, confirmed in…
X Raises Premium+ Subscription Price to $22 Monthly
Elon Musk’s X, formerly known as Twitter, has announced a steep price hike for its Premium+ subscription, marking the most significant increase since Musk acquired the platform in 2022. The…
Singapore’s Bolttech Raises Over $100 Million to Reach $2.1 Billion Valuation
Insurance technology company bolttech, headquartered in Singapore, has announced raising over $100 million in its Series C funding round. Led by Dragon Fund, Mitsubishi UFJ Financial Group, and fintech direct…
Sony Acquires 10 Percent Stake in Kadokawa Amid Market Fallout
Japan’s Kadokawa Corporation, known for its popular game “Elden Ring,” faced a sharp sell-off in its stock on Friday following an announcement that dashed hopes of a full acquisition by…
Shein Agrees to Local Data and Control Rules for India Comeback
Shein, the Chinese fashion retailer, must hand over Indian customer data and relinquish control of its local operations to its partner, Reliance Retail, to return to India. Government disclosures on…
ASML and Partners Commit $230 Million for Eindhoven Development
Dutch technology companies, including chip equipment maker ASML, have committed around $230 million to support infrastructure development in Eindhoven, one of Europe’s fastest-growing technology hubs. The announcement ties into “Operation…
Qualcomm’s Nuvia Deal Could Save $1.4 Billion Annually in Arm Fees
Qualcomm projected it could save up to $1.4 billion annually in payments to Arm by acquiring startup Nuvia, according to internal documents revealed in a Delaware federal court trial. Qualcomm…
Honda and Nissan in Talks to Join Forces Against Competitors
Honda and Nissan are exploring a merger that could reshape the global automotive landscape. According to Nikkei, the two Japanese automakers are in talks to consolidate under a new holding…
Japan’s Kioxia Valued at $5.8 Billion After IPO Surge
Shares of Kioxia Corporation surged 14% on their debut Wednesday, valuing the Japan-based memory chipmaker at approximately 890 billion yen ($5.8 billion). Backed by Bain Capital, the company’s initial public…
Salesforce Boosts AI Sales Team with 2,000 New Hires
Salesforce, the cloud software leader, announced plans to hire 2,000 sales representatives to focus on its growing portfolio of AI products. This decision, shared by CEO Marc Benioff during a…
FTC Bans Hidden Fees on Tickets and Short-Term Lodging
The Federal Trade Commission (FTC) has issued a rule targeting deceptive pricing practices in the live-event ticketing and short-term lodging industries. This new “Junk Fees Rule,” finalized on Tuesday, mandates…
Amazon Workers in NYC and Illinois Plan Strikes Over Union Disputes
Amazon workers at two New York City warehouses plan to strike after the company missed a December 15 deadline to engage in union contract negotiations. Employees at the JFK8 facility…
Taiwan Explores Collaboration with Amazon on Satellite Internet
Taiwan is exploring a partnership with Amazon for its Kuiper broadband satellite system, as the government seeks to bolster communication infrastructure against potential disruptions. Taiwan’s Technology and Science Minister, Wu…