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Social media company cancels Steve Huffman’s performance awards based on hitting $25bn market value
Parent company ByteDance on track to become world’s biggest social media group with $120bn in global sales
...The financial technology group has also developed a suite of tools helping customers with revenue, tax and billing....
Move is culmination of long-running European Commission antitrust probe after a complaint by Spotify
A tech-savvy Uber Eats worker was sick of the algorithms that controlled his day. So he decided to fight back
Slack may have lost its lustre but messaging in the workplace isn’t going anywhere
“We will lead their coke dealers to their homes after they can’t pay their bills”
Brussels seeks explanation from iPhone-maker after group behind ‘Fortnite’ has account terminated
Investors claimed chief executive misled them during an earnings call in 2018
...It is a sentiment that has been rippling across Silicon Valley with increasing confidence in recent weeks as technology stocks rally, partly on the booming prospects of artificial intelligence....
Americans account for 14% of users but their revenue contribution will be higher
The problem with equity investment valuations is that they fluctuate
...jurisdiction over the bill if it proceeded via regular process, said she was “very concerned” about adversaries exploiting Americans’ data or attempting to build backdoors in information communication technology...
US Congress took a first step this week to forcing the app’s Chinese owner to sell it off. Can the company fight back?
...Letter in response to this article:Uber buyback reflects a confidence its best days are yet to come / From Dara Khosrowshahi, Chief Executive, Uber Technologies, San Francisco, CA, US...
Around the world, more attempts are being made to put limits on tech company power
To justify its current valuation, everyone everywhere needs to spend $800 a year on Apple products, says UBS
...Renesas bought Apple supplier Dialog for €4.8bn ($5.6bn) in 2021 and splashed out over $10bn on both US rival Integrated Device Technology in 2019 and US chipmaker Intersil in 2017....
...Under such an arrangement, the investors could also add a US technology partner to secure the data of US citizens and guarantee that no information is handled or monitored by Chinese-related entities....
Scrapping a project with high upfront costs makes sense
And China’s halfhearted stimulus
...However, any sale would require China’s approval under export control rules that in effect give it a veto in any deal that would sell Chinese technology to a US buyer....
Following the IPO, voting control will be concentrated among those who already hold Reddit stock
...In 2020, China updated its export control rules to effectively give Beijing a say in any deal that would sell Chinese technology to an American buyer....
For the company to achieve a consistent reduction in share count, big buybacks will have to be the norm
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