China’s EV stocks start 2024 in reverse gear as price wars pressure profitability

China’s EV stocks start 2024 in reverse gear as price wars pressure profitability

A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai) Vcg | Visual China Group | Getty Images Shares of Chinese electric car makers have started the new year in reverse gear, as intense competition and continuing price wars pressure…

Google Trims Hundreds of Jobs as It Marshals Resources for AI

Google Trims Hundreds of Jobs as It Marshals Resources for AI

Jan. 10, 2024 11:40 pm ET Google laid off hundreds of employees in several areas of the business on Wednesday, a sign of further cost reductions at the search giant as it continues to reverse a pandemic hiring spree. The cuts affected employees in divisions including those working on Google’s Assistant program, hardware and internal…

Malaysia is doubling down on the chip industry to capture growth in EVs

Malaysia is doubling down on the chip industry to capture growth in EVs

Tesla Inc. signage during a launch of company’s Model Y electric vehicle in Kuala Lumpur, Malaysia, on Thursday, July 20, 2023. Bloomberg | Bloomberg | Getty Images Malaysia is doubling down on the semiconductor industry to capture growth in the growing electric vehicle market. In an exclusive interview with CNBC’s “Squawk Box Asia” on Thursday,…

Coinbase threatened by bitcoin ETFs after almost 400% surge in stock last year

Coinbase threatened by bitcoin ETFs after almost 400% surge in stock last year

Brian Armstrong, chief executive officer of Coinbase Global Inc., speaks during the Messari Mainnet summit in New York, on Thursday, Sept. 21, 2023. Michael Nagle | Bloomberg | Getty Images Now that the SEC has approved the creation of bitcoin exchange-traded funds, Coinbase’s position in the crypto market is poised to take a dramatic turn….

Spot ETFs offer an easier and cheaper way to invest in bitcoin

Spot ETFs offer an easier and cheaper way to invest in bitcoin

Omar Marques | Lightrocket | Getty Images It’s cheaper than ever to buy bitcoin. After 10 years of rejections, the U.S. Securities and Exchange Commission on Wednesday approved 11 applications for bitcoin exchange-traded funds submitted by some of the biggest asset managers in the world, including BlackRock and Fidelity. In many cases, investors will pay…

Amazon cuts hundreds of jobs in Prime Video and MGM Studios: Read the memo to employees

Amazon cuts hundreds of jobs in Prime Video and MGM Studios: Read the memo to employees

Amazon continues to trim its headcount after a year of mass layoffs. Beginning at the end of 2022 and continuing through 2023, Amazon initiated the largest layoffs in its history, cutting more than 27,000 jobs across almost every area of the company. Team, We’ve taken significant steps towards our long-term vision of making Prime Video…

SEC’s account compromise was ‘not due to any breach of X’s systems,’ company says

SEC’s account compromise was ‘not due to any breach of X’s systems,’ company says

INDIA – 2021/10/16: In this Photo illustration a Bitcoin logo seen displayed on a smartphone with an ETF(exchange traded fund) logo in the background. (Photo Illustration by Avishek Das/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images Social media company X said late Tuesday it has completed a preliminary probe into the…