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Aug 05 Twitter

Facing Lawsuit From Musk, CCDH Head Says He Won't Stop Exposing Twitter's Problems

  • Imran Ahmed told staffers at the Center for Countering Digital Hate to “double down” on probing X despite facing a lawsuit from the company.
  • “I’ve never, ever, ever walked away from a fight,” Ahmed told CNBC.
  • House Judiciary Committee Chairman Jim Jordan, R-Ohio, sent a letter this week to the CCDH and Ahmed as part of a broader “censorship investigation.”

read more at cnbc.com
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Aug 05 Instagram

Threads Will Soon Have Search And Web Functions

  • Meta CEO Mark Zuckerberg said in a Threads post on Friday that search and web features will be “coming in the next few weeks.”
  • “The community here is on the trajectory I expect to build a vibrant long term app,” he wrote.
  • Advertisers and creators have told CNBC that Threads needs additional features to become an important service.

read more at cnbc.com
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Aug 05 Google Startups

Alphabet Dumps More Than 90% Of Its Stake In Robinhood

  • Google parent Alphabet has pared back large positions in multiple publicly traded firms.
  • The company sold off more than 4.3 million shares of the trading platform.
  • Alphabet still held about 612,000 shares of Robinhood as of June 30.

read more at cnbc.com
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Aug 05 Social Startups

SoftBank Sues IRL, Alleging It Faked User Numbers

  • Masayoshi Son’s SoftBank Vision Fund II filed suit against a former portfolio company, alleging massive fraud by the founding coterie, all of whom were relatives.
  • Buzzy social network startup IRL was valued at $1 billion and raised $150 million from SoftBank.
  • SoftBank alleged that the founders pumped up user numbers and engagement.

read more at cnbc.com
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Aug 05 Apple

Apple Shares Fall Most Since September 2022 After Q3 Earnings Report

  • Apple’s decline Friday was its worst day so far in 2023, and its largest loss since Sept. 29 last year.
  • The stock slid after the company said it expected another decline in revenue in the September quarter, although it signaled that iPhone sales would do better than a 2% year-over-year decline.
  • The stock is up 40% so far this year.

read more at cnbc.com
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Aug 05 Apple iPhone

Apple Shares Slide After It Reports Decreased Revenue For iPhone And Other Hardware

  • Shares of Apple were down on Friday after the company reported lower year-over-year revenue for its flagship products in the third quarter, although the company beat estimates on earnings per share and revenue.
  • Apple reported iPhone revenue for the quarter was $39.67 billion, compared to $40.67 billion during the same period last year.
  • CFO Luca Maestri told analysts that Apple expects similar sales results in the following quarter.

read more at cnbc.com
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Aug 05 Amazon

Amazon Stock Rallies After Blowout Quarter

  • Amazon’s stock surged on Friday, a day after it reported blowout second-quarter results.
  • Analysts cheered stabilizing AWS growth, improving retail margins, and progress on cutting costs.

read more at cnbc.com
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Aug 04 Google United States

Google Is Using The On-Campus Hotel To Help Workers Back To The Office

  • Google said full-time employees can book a room at an on-campus hotel in Mountain View for $99 a night in what it’s deeming a “Summer Special.”
  • “Just imagine no commute to the office in the morning and instead, you could have an extra hour of sleep and less friction,” the description reads.
  • The company has been cracking down on office attendance in recent weeks.

read more at cnbc.com
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Aug 04 Technology India

Apple, Samsung Could Be Hit By India Laptop And PC Import Restrictions

  • Laptops and tablets are among a handful of electronics that will require a license to be imported into India, according to a government notice published Thursday.
  • In theory, companies from Apple and Samsung to HP will need licenses to import such products into India.
  • On Friday, Rajeev Chandrasekhar, India’s information technology minister, said the move was designed to reduce dependence on imports and increase the domestic manufacturing of these products.

read more at cnbc.com
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Aug 04 Apple Apps

Apple's Services Business Is Making Up For Some Hardware Struggles

  • In its third-quarter earnings report on Thursday, Apple reported a decline in sales for its most iconic hardware products.
  • Offsetting the hardware softness is accelerating growth in the services business, a major profit driver.
  • The services division’s growth was “better than we expected,” Apple CEO Tim Cook said.

read more at cnbc.com