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2025-06-02
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Google's parent company, Alphabet, has agreed to invest at least $500 million over the next decade to revamp its global compliance systems as part of a preliminary settlement in a shareholder-led antitrust lawsuit. Filed by a Michigan pension fund in 2021, the case alleged that Google engaged in systemic anti-competitive activity, causing reputational and financial harm. A proposed agreement, currently awaiting court approval in California, includes the creation of a dedicated board committee to...
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2025-06-02
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Google has agreed to spend $500 million over the next ten years to overhaul its compliance structure as part of a settlement in a shareholder derivative lawsuit. The litigation accused executives at Alphabet, Google's parent company, of breaching fiduciary duties and exposing the firm to antitrust liabilities involving search, Ad Tech, Android, and app distribution. The settlement includes the establishment of a standalone board committee for risk and compliance, a senior executive committee rep...
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2025-05-28
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Amazon announced it is cutting hundreds of jobs in its cloud computing unit AWS as part of a strategic shift.
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2025-05-29
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The New York Times has entered into its first licensing agreement involving generative artificial intelligence by partnering with Amazon. Under this multi-year deal, Amazon will have access to NYT's editorial content for use in its AI products such as Alexa.
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2025-05-28
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Tesla is preparing to launch its long-anticipated robotaxi service in Austin, Texas, on June 12, 2025, according to Bloomberg News, which cites a source familiar with the matter. The date remains tentative and subject to change. Tesla has yet to publicly comment on the report. Earlier in May, CEO Elon Musk had stated that the electric vehicle maker was on track to begin testing the robotaxi service in Austin by the end of June. The project marks a strategic shift for Tesla, as Musk has redirecte...
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2025-05-29
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Tesla shares rose over 2% following CEO Elon Musk's announcement that he is stepping back from involvement with the Trump administration, renewing investor confidence that he will refocus on the automaker. Musk's political affiliations, particularly his support for Donald Trump and right-wing groups in Europe, had sparked protests and concerns over brand reputation. Tesla, already facing its second consecutive year of declining sales, has seen an 11% drop in share value this year. Musk indicated...
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2025-05-29
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A coalition of 12 major pension fund investors, including the New York City Comptroller and Denmark's AkademikerPension, has called on Elon Musk to dedicate at least 40 hours per week to Tesla. The group, managing approximately $950 billion in assets, sent a letter to Tesla's chair, Robyn Denholm, expressing concern over Musk's multiple commitments and the resulting leadership crisis at Tesla. Despite collectively holding only 0.25% of Tesla’s shares, the investors are pushing for governance ref...
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2025-06-02
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In 2024, senior Tesla executives grew concerned after Elon Musk publicly denied a Reuters report stating that Tesla had canceled its anticipated $25,000 electric vehicle (EV), often referred to as the Model 2. Despite Musk’s denial on social media, which temporarily bolstered Tesla’s stock, internal sources confirmed the project had indeed been scrapped in favor of developing robotaxis. Some executives were confused by Musk’s conflicting public statement and feared potential consequences from th...
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2025-05-29
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In the January-March quarter of 2025, Microsoft reported strong financial performance with an 18% increase in net income, reaching $25.8 billion, or $3.46 per share, surpassing Wall Street's expected $3.22 per share. Revenue rose 13% year-over-year to $70.1 billion, outperforming projections of $68.44 billion. The growth was largely driven by Microsoft's robust cloud computing and artificial intelligence business, which posted $26.8 billion in revenue—a 21% increase, also exceeding expectations.
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2025-05-30
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Microsoft has appointed two former high-profile U.S. government officials to reinforce its bipartisan engagement in Washington. C.J. Mahoney, who served as deputy trade representative under the Trump Administration, has been promoted to general counsel, focusing on legal issues tied to Microsoft’s products and services. In tandem, the company has hired Lisa Monaco, a former deputy attorney general and homeland security adviser under the Biden Administration, as president of global affairs.
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2025-05-30
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A Microsoft subsidiary in Russia, Microsoft Rus LLC, plans to file for bankruptcy, as indicated in a notice on Russia’s official Fedresurs registry. The company has not responded to media inquiries for comment. This move follows growing restrictions from Russian authorities, with President Vladimir Putin recently advocating for the replacement of foreign service providers like Microsoft and Zoom with domestic alternatives.
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2025-05-31
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After nearly two years of negotiations, ZeniMax Media quality assurance (QA) workers have reached a tentative contract agreement with Microsoft. Represented by the Communication Workers of America (CWA), the ZeniMax Workers United union comprises over 300 employees from studios involved in games like Starfield and DOOM: The Dark Ages. The contract includes across-the-board wage increases, higher minimum salaries, job security provisions, comprehensive grievance procedures, and formal recognition...
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2025-06-02
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Apple has filed an appeal against the European Commission’s interoperability demands under the Digital Markets Act (DMA), which require it to share user information and system features with third-party developers. Apple argues that these requirements compromise user privacy and its proprietary technology.
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