U.S. mutual-fund giant Fidelity Investments has drastically changed its view of what Jack Ma’s Ant Group Co. is worth after China’s regulatory crackdown on the financial-technology giant severely dented its growth prospects. The Boston-based asset manager, which was among an elite group of global investors that bought into Ant three years ago, marked Ant shares […]
When leaders of the project management and communication software company Basecamp announced last week that it would curb political conversations at work, fallout came fast. Tech employees, workplace consultants and politicians alike assailed the decision on Twitter and LinkedIn, though other company leaders called it a courageous move. Some employees publicly threatened to quit. Ultimately, […]
As long as there’s been social media, there have been people sharing their accomplishments, to the delight or displeasure of their friends. But lately, perhaps no category of social-media brag has become more divisive than the college-acceptance post. Many people cheer such posts, arguing that after four years of hard work, high-school seniors and their […]
If the pandemic had never happened, the tech industry’s clout likely would have risen over the past year. But the economic effects of Covid-19 have catapulted the tech titans to heights few might have imagined possible a year ago. The past week of quarterly financial results from Apple Inc., Microsoft Corp. , Amazon.com Inc., Facebook […]
SINGAPORE—In recent years, China’s technology giants have turned consumers’ embrace of mobile payment apps into lucrative ecosystems offering a range of financial services, from personal loans to insurance policies. Now, Beijing wants to put a stop to that. On Thursday, China’s central bank and four other regulatory agencies told some of the country’s biggest financial […]
As more Americans are vaccinated against Covid-19 and as rules on social distancing are relaxed, interest in activities such as travel and live entertainment is starting to recover, new data on app usage suggest. Trends seen from a range of sources, including information on active users of a variety of consumer apps as estimated by […]
Amazon. AMZN -0.11% com Inc. reported record quarterly profit as demand remained robust for its deliveries, cloud-computing and advertising businesses, capping a blockbuster earnings season for the world’s largest technology companies. The Seattle company’s profits in the year since the pandemic started exceeded $26 billion, more than the previous three years combined. Net income from […]
Global auto makers who had expected the semiconductor supply crisis to subside in the spring are now warning that chips will remain scarce for months while a second-half recovery is fraught with uncertainty. The main causes of the worsening shortage are the widespread chip manufacturing disruption in Texas from the severe weather in February and […]
Uber is looking to navigate an expected slowdown in food-delivery orders as its ride-hailing business takes off. Photo: Patrick T. Fallon/Bloomberg News April 28, 2021 11:05 am ET Uber Technologies Inc. UBER -0.29% is adding features to its app that will further entwine the rides and food-delivery businesses as it steers toward a future when […]
Nearly a decade ago, venture-capital firm Sutter Hill Ventures made a small wager on an idea for a cloud computing services company, helping found and fund Snowflake Inc. The bet paid off: Last month, Sutter Hill distributed a profit of nearly $12 billion on the less than $190 million it ultimately invested, as it transferred […]
