Business, Financial & Legal News - Page 10

All the latest Business, Financial & Legal news as it relates to tech, gaming, and science - Page 10.

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Russian President Vladimir Putin tells Tucker Carlson: Biden is not running the United States

Anthony Garreffa | Feb 6, 2024 5:04 PM CST

Tucker Carlson has had some gigantic interviews and hundreds of millions of views on interviews with world leaders (and many others) since his exit from Fox News... but nothing compares to his latest interview with Russian President Vladimir Putin.

Russian President Vladimir Putin tells Tucker Carlson: Biden is not running the United States

Tucker flew out to Moscow, Russia to meet with Vladimir Putin, with the new interview between Tucker Carlson and Vladimir Putin not live yet, but it's coming very soon, with Tucker releasing a "trailer" to his news ahead of the interview release. Patrick Webb got an early look at the interview, where he has some choice quotes from Putin early.

Tucker asked who Putin thinks runs the United States, to which the Russian President replied: "The same forces which have always run it. You may change presidents but you do not change those in real power. That is who we have to deal with. Joe Biden is just a facade for this power structure".

Continue reading: Russian President Vladimir Putin tells Tucker Carlson: Biden is not running the United States (full post)

ASUS included in Fortune's new 2024 World's Most Admired Companies, its 9th time on the list

Anthony Garreffa | Feb 5, 2024 9:47 PM CST

ASUS has just announced it's made Fortune's list of 2024 World's Most Admired Companies, which is the 9th time ASUS has received this honor.

ASUS included in Fortune's new 2024 World's Most Admired Companies, its 9th time on the list

The company was recognized for its extraordinary achievements in areas including global competitiveness, social responsibility, product service quality, and more. ASUS continues its technological innovation, maintaining its global leadership in areas like motherboards, computers, monitors, graphics cards, peripherals, routers, and more.

The company also has collaborations with strategic partners like AMD, Intel, NVIDIA and others, which has continued to strengthen its presence in gaming, commercial, and industrial markets. The new AI market has also been a huge push for ASUS, which has rapidly advanced its AI applications, integrating cloud services, efficient computing power, and big-data platforms, as well as expanding into diverse fields such as smart healthcare, smart transportation, smart manufacturing, smart education, smart cloud, and smart retail.

Continue reading: ASUS included in Fortune's new 2024 World's Most Admired Companies, its 9th time on the list (full post)

Joe Rogan locked down at Spotify with new deal worth $250 million

Jak Connor | Feb 5, 2024 8:31 AM CST

Joe Rogan signed on for an exclusive deal over at Spotify in 2020, which was reportedly worth up to $100 million, but now the world's biggest podcast will be staying over at Spotify for an undisclosed amount of time and for reportedly much more money.

Joe Rogan locked down at Spotify with new deal worth $250 million

"The Joe Rogan Experience" will be staying over at Spotify, but according to reports from The Wall Street Journal, the new deal will include a revenue-sharing model based on ad sales that will enable Rogan to publish his podcast on multiple platforms. Under this new deal, Spotify will be able to control ad distribution across the multiple platforms the "The Joe Rogan Experience" will appear on.

Rogan confirmed the show was returning to YouTube in an Instagram post celebrating the new deal, "In addition to being available on Spotify, the show will soon be available on additional platforms like Apple, Amazon, and YouTube." The podcast has more than 2,200 hundred episodes and has featured a wide range of guests, each chosen by Rogan himself based on his personal interest in the guest.

Continue reading: Joe Rogan locked down at Spotify with new deal worth $250 million (full post)

US defense contractor Raytheon secures multi-chip package with AMD

Anthony Garreffa | Feb 4, 2024 10:08 PM CST

Raytheon has just announced a new $20 million contract through its Strategic and Spectrum Missions Advanced Resilient Trusted Systems (SSMARTS) consortium to develop a next-gen, multi-chip package that will be used in ground, maritime, and airborne sensors and built by AMD.

US defense contractor Raytheon secures multi-chip package with AMD

Under the new contract, Raytheon says it will package state-of-the-art commercial devices from partners like AMD to create a compact microelectronics package that will convert radio frequency energy to digital information with more bandwidth and higher data rates. This new chip will enable new system capabilities designed with higher performance, lower power consumption, and reduced weight.

Colin Whelan, president of Advanced Technology at Raytheon, said: "By teaming with commercial industry, we can incorporate cutting-edge technology into Department of Defense applications on a much faster timescale. Together, we will deliver the first multi-chip package that features the latest in interconnect ability - which will provide new system capabilities to our warfighters".

Continue reading: US defense contractor Raytheon secures multi-chip package with AMD (full post)

Google will pay out $700 million to former employees this quarter

Jak Connor | Jan 31, 2024 1:47 AM CST

Google conducted massive layoffs last year, which is going to cost the company billions of dollars in severance packages and costs related to layoffs.

Google will pay out $700 million to former employees this quarter

More specifically, Alphabet's earnings report for the fourth quarter of fiscal year 2023 stated the company was expecting to shell out $700 million in severance costs this quarter. Alphabet, Google's parent company, continued with the layoffs at the company behind the world's largest search engine, with additional layoffs occurring in January 2024 that amounted to hundreds of workers across core engineering and hardware teams.

Furthermore, Google conducted layoffs in January 2023, and according to Business Insider, the company "recorded employee severance and related charges of $2.1 billion for the twelve months ended December 31, 2023." During this time period, in January 2023, the company laid off 6% of its total workforce, or 12,000 employees. Affected staff or former staff, were paid during the 60-day-minimum WARN notification period, with the offer of severance of at least 16 weeks' salary + two weeks of severance for every year they worked at the company.

Continue reading: Google will pay out $700 million to former employees this quarter (full post)

Elon Musk loses $18 billion in a single day after Tesla reports its earnings

Jak Connor | Jan 26, 2024 1:35 AM CST

Tesla stock slid 13.2% on Thursday after the company released its 4th quarter earnings report, which revealed the company missed several of its internal estimates.

Elon Musk loses $18 billion in a single day after Tesla reports its earnings

The massive loss in Musk's total value can be attributed to Tesla's stock price sliding to 180.38 on Thursday, and according to Forbes, the Tesla CEO lost $17 billion more than any other billionaire. For those that don't know, Musk owns 21% of Tesla, so when Tesla's stock price dips, so does Musk's total net worth, which is estimated to be around $203.6 billion - $20 billion more than LVMH's Bernard Arnault. Notably, Musk's net worth was a staggering $320 billion in November 2021, which made him the first person ever to obtain such a fortune.

Tesla's quarterly financial report revealed the company missed some targets, including total revenue. Tesla reported top-line revenue of $25.17 billion against the expected $25.87 billion. Furthermore, Tesla's revenue increased by 3% compared to a year ago, with the company also telling shareholders it expects its "vehicle volume growth rate may be notably lower than the growth rate achieved in 2023 as our teams work on the launch of the next-generation vehicle at Gigafactory Texas."

Continue reading: Elon Musk loses $18 billion in a single day after Tesla reports its earnings (full post)

TSMC announces it's preparing for 1nm production, new cutting-edge facility in Taiwan

Anthony Garreffa | Jan 24, 2024 6:03 PM CST

TSMC has just announced its plans for 1nm process node production, where the company plans to build a new state-of-the-art fabrication plant in Taiwan to handle the influx of next-gen chip orders.

TSMC announces it's preparing for 1nm production, new cutting-edge facility in Taiwan

Taiwan Semiconductor Manufacturing Company (TSMC) reaching the "holy grail" of semiconductor leadership with its 1nm process node will only continue its dominance in the field, leaving both Samsung and Intel in their (1nm) dust. The new cutting-edge facility is expected to be developed in Chiayi County in southern Taiwan.

It's expected that TSMC's advanced new 1nm fabrication plant would cost somewhere up to 1 trillion won (around $32 billion USD) and should be built at the Southern Taiwan Science Park (STSP). It's expected to take up close to 100 hectares, divided into a "60/40 ratio," where the facilities will handle both semiconductor and IC packaging production in the same facility.

Continue reading: TSMC announces it's preparing for 1nm production, new cutting-edge facility in Taiwan (full post)

MrBeast is about to close $100 million deal with Amazon over Prime Video

Jak Connor | Jan 22, 2024 11:16 PM CST

James "Jimmy" Donaldson, more commonly known as MrBeast, is the biggest YouTuber in the world, and now reports indicate he's in talks for a massive deal over at Amazon.

MrBeast is about to close $100 million deal with Amazon over Prime Video

Donaldson is known for his philanthropy and often out-of-this-world videos, such as spending 50 hours in prison, 7 days buried alive, recreating the viral Squid Game series, and so much more. With MrBeast being such a massive name in the entertainment industry, it's no surprise that everyone wants in on the action. According to a new report, MrBeast is currently in the final stages of a deal with Amazon to bring his content to the streaming service Prime Video for a whopping $100 million.

The deal was first reported by Puck News, which mentions that MrBeast will continue to make YouTube content with part of the deal for the series to have the first episode air on MrBeast's YouTube Channel before it moves over to Prime Video. Currently, it is unclear if that will continue throughout the entire series or if this is a once-off just for promotion, though we will get more information when the series is officially announced.

Continue reading: MrBeast is about to close $100 million deal with Amazon over Prime Video (full post)

eBay to pay $3 million to a couple after employees sent them live spiders and fetal pig

Jak Connor | Jan 17, 2024 10:20 AM CST

Unless you're living under a rock, you know what eBay is, and it turns out the staff over at eBay aren't very fond of critics.

eBay to pay $3 million to a couple after employees sent them live spiders and fetal pig

Unfortunately for them, the behavior of former staff at the company has landed them in $3 million dollars of hot water to resolve criminal charges against a couple who wrote a critical newsletter about the company in 2019.

"The company's conduct in 2019 was wrong and reprehensible," CEO Jamie Iannone stated, "From the moment eBay first learned of the 2019 events, eBay cooperated fully and extensively with the law enforcement authorities."

Continue reading: eBay to pay $3 million to a couple after employees sent them live spiders and fetal pig (full post)

Elon Musk airs out some of Tesla's dirty laundry on X in new post

Jak Connor | Jan 17, 2024 4:51 AM CST

Tesla CEO Elon Musk has aired out some of the company's dirty laundry on the social media platform X, formerly called Twitter, as the company's CEO has called for more control before he expands Tesla's presence in AI and robotics.

Elon Musk airs out some of Tesla's dirty laundry on X in new post

Musk took to X to write that he simply is "uncomfortable" growing Tesla's AI and robotics capabilities without having 25% of voting control, which would be enough for him to remain "influential, but not so much that I can't be overturned". Musk went as far as to say that unless he is given that control, he would "prefer to build products outside of Tesla". Currently, Musk has about a 13% stake in Tesla, equating to a whopping $206 billion of Musk's $230+ billion net worth.

In the past, Musk has described Tesla as not an electric car company but an AI and robotics company that happens to make electric cars. It seems that Musk wants to pump the breaks on development in both of those areas, whether it be autonomous driving or robotics, until he is given this 25% voting power. Musk added in a follow-up post that if he had 15% voting power or lower, "the for/against ratio to override me makes a takeover by dubious interests too easy."

Continue reading: Elon Musk airs out some of Tesla's dirty laundry on X in new post (full post)