Facebook parent Meta delivers strong quarter, sending shares soaring
Meta Platforms Inc. on Wednesday reported second-quarter earnings that beat Wall Street expectations, issued an upbeat sales forecast for the September quarter and expressed confidence that robust digital ad spending will be able to cover the costs of its AI investments. The company’s shares rose 8% after the close of trading. Mark Zuckerberg’s parent company […]
Facebook parent Meta to pay $1.4B to settle Texas facial recognition lawsuit
Meta Platforms has agreed to pay $1.4 billion to the state of Texas to settle a lawsuit that alleged that Facebook’s parent company illegally used facial recognition technology to collect biometric data on millions of Texans without their consent. The settlement terms announced Tuesday are the largest single-state agreement ever, according to a team of […]
Elon Musk says Starlink and X will move out of California to Texas after Dems pass extremist law against parent notification
Billionaire entrepreneur Elon Musk has announced he is moving two of his major companies out of California after the state’s Democrats passed a radical law that would ban public schools from informing parents about gender and sexual orientation. After California Governor Gavin Newsom (D) signed a bill into law that bans schools from requiring parents […]
Tinder parent Match Group faces activist campaign from Starboard: ‘Lack of innovation’
Match Group, the parent company of Tinder and Hinge, is facing a campaign from activist investors who are calling for the dating app giant to either overhaul its business or consider taking it private. Starboard Value said on Tuesday it had acquired a 6.6 percent stake in Match Group and is in discussions with the […]
Redbox shutting down 24K kiosks, after parent company, Chicken Soup for the Soul Entertainment bankruptcy filing
Moviegoing in the digital age has claimed another casualty in the long-running battle for audience control. Redbox, the once-beloved movie rental kiosk and rival to video store Blockbuster, is closing after its parent company filed for bankruptcy. Chicken Soup for the Soul Entertainment (CSSE) changed its Chapter 11 bankruptcy filing to a Chapter 7 liquidation […]