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May 24, 2022

Technology

No recession ahead: Evercore ISI predicts S&P 500 will jump 22% from current levels

CNBC
CNBC – For more and to sign up click here While retail investors head for the exits as stock prices sharply fluctuate, Evercore ISI’s Julian Emanuel wants to put money to work. He calls the market environment very ugly, but he believes the economy will avert a recession — particularly......

Snap’s ad warning hits Facebook and Google shares. We say don’t join the sellers

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CNBC – For more and to sign up click here The Wall Street Journal reported that Facebook purposely used a broad algorithm to block news in Australia last year, causing pages for charities, emergency services and hospitals to be affected. Rafael Henrique | SOPA Images | LightRocket | Getty Images......

Microsoft is selling the metaverse now ⁠— and it’s helping make everything from robots to ketchup

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CNBC – For more and to sign up click here Microsoft’s HoloLens 2. Andrew Evers | CNBC You may not be ready to jump into the metaverse for fun, but it could be coming to work sooner than you think. Microsoft announced Tuesday that Kawasaki is a new customer for......

Uber to expand in Italy through deal with the country’s largest taxi dispatcher

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CNBC – For more and to sign up click here Uber has long faced opposition from taxi drivers. Now it wants to partner with the industry. Jakub Porzycki | Nurphoto | Getty Images Uber has signed a partnership with IT Taxi, the largest taxi dispatch service in Italy, in a......

Snap falls 39% on pace for worst day ever, dragging other stocks with it

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CNBC – For more and to sign up click here Evan Spiegel, co-founder and chief executive officer of Snap Inc., speaks during the virtual Google Pixel Fall Launch event in New York, on Tuesday, Oct. 19, 2021. Michael Nagle | Bloomberg | Getty Images Snap shares plunged 39% on Tuesday,......

Bitcoin Pizza Day and NFTs: Crypto players take over main strip in Davos even after market crash

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CNBC – For more and to sign up click here DAVOS, Switzerland — Crypto-related technology companies are out in force at the annual World Economic Forum in Davos, even after a recent market crash that has wiped off billions of dollars of value from the digital currency market. The Promenade,......

Electronics are set to get even more expensive as chip giants hike their prices

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CNBC – For more and to sign up click here A man walks past TSMC’s logo at the company’s headquarters in Hsinchu, Taiwan. Sam Yeh | AFP | Getty Images Products that rely on semiconductors are set to get even more expensive as chip foundries prepare to increase their prices,......

SpaceX president defends Elon Musk over sexual misconduct claims: ‘I believe the allegations to be false’

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CNBC – For more and to sign up click here SpaceX CEO Elon Musk participates in a postlaunch news conference inside the Press Site auditorium at NASA’s Kennedy Space Center in Florida on May 30, 2020, following the launch of the agency’s SpaceX Demo-2 mission to the International Space Station.......

New York City removes the last payphone from service

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CNBC – For more and to sign up click here Workers remove the final New York City payphone near Seventh Avenue and 50th Street in Midtown Manhattan, New York City, on May 23, 2022. Timothy A. Clary | AFP | Getty Images It’s the end of an era: New York......

Klarna to lay off 10% of its workforce as souring economy hits buy now, pay later space

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CNBC – For more and to sign up click here Buy now, pay later products like Klarna’s became wildly popular in the Covid pandemic. Noam Galai | Getty Images Klarna plans to lay off about 10% of its global workforce, making the buy now, pay later company the latest major......

Bitcoin could fall to $8,000, a more than 70% plunge, Guggenheim’s Minerd says

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CNBC – For more and to sign up click here Bitcoin could drop further and fall to $8,000 from its current levels, Guggenheim Chief Investment Officer Scott Minerd predicted Monday. That would represent a more than 70% drop to Monday morning’s price of just over $30,000. “When you break below......

IMF head says stablecoins not backed by assets are a ‘pyramid,’ hinting at UST debacle that crashed markets

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CNBC – For more and to sign up click here DAVOS, Switzerland — Stablecoins that are not backed by assets to support them are a pyramid scheme, the head of the International Monetary Fund said Monday, hinting at the collapse of terraUSD and luna that sent shockwaves through the cryptocurrency......

DC AG sues Meta CEO Zuckerberg over Cambridge Analytica privacy scandal

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CNBC – For more and to sign up click here District of Columbia Attorney General Karl Racine announces a civil lawsuit against extremist groups the Proud Boys and Oath Keepers, over the deadly Jan. 6 attack on the U.S. Capitol, at the Capitol in Washington, December 14, 2021. Jonathan Ernst......

U.S. firm Clearview A.I. fined for illegally collecting images of Brits’ faces

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CNBC – For more and to sign up click here Clearview AI, a New York-headquartered facial recognition company, has been fined £7.5 million ($9.4 million) by a U.K. privacy regulator. Over the last few years, the firm has collected images from the web and social media of people in Britain......

EBay is entering the NFT business, with an assist from hockey legend Wayne Gretzky

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CNBC – For more and to sign up click here The headquarters of eBay in San Jose, California. Getty Images EBay is getting into NFTs — with an assist from hockey legend Wayne Gretzky. The company announced Monday that it’s launching 13 limited-edition digital collectibles in partnership with Web3 platform......

‘The next era of humanity’s technological development’: U.S. and its Asian allies get serious about semiconductors

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CNBC – For more and to sign up click here TOKYO — As U.S. President Joe Biden visits Japan and South Korea, the three countries are looking for common ground on the world stage. One place they’re finding it is semiconductors. A first stop for Biden on his first swing......

China’s state-backed blockchain company is set to launch its first major international project

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CNBC – For more and to sign up click here China’s Blockchain-based Service Network (BSN) is planning a major international expansion project in August. Yuichiro Chino | Moment | Getty Images China’s state-backed blockchain company is planning its first major international expansion, its CEO told CNBC, as Beijing continues to......

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