Tag Archives: loses

Google’s public cloud has been chasing competing services from Amazon and Microsoft for so long, you might think it would be getting winded. But the critical Alphabet division keeps on keeping on, yesterday reporting revenues of more than $5.5 billion for the fourth quarter. That was the good news. The bad news was that Google Cloud accrued operating losses worth $890 million at the same time. It may be hard to understand how a business with a run rate greater than $22 billion is… Source link

Everything was going wonderfully in Marcus Freeman’s debut as Notre Dame head coach. And then the wheels fell off. Facing Oklahoma State in the Fiesta Bowl, Notre Dame was carving up the OSU defense with its passing game and jumped out to a 28-7 lead late in the first half. And with the Notre Dame defense stifling the OSU offense, it looked like the Irish would cruise to a victory to kick off the Freeman era in South Bend in style. Instead, Oklahoma State stormed back and scored 30… Source link

Crypto lender Celsius Network lost funds in a recent cyber hack, the latest decentralized finance (DeFi) attack that comes amid a broad retrenchment in cryptocurrencies. On Wednesday night, BadgerDAO, a decentralized autonomous organization (DAO) which builds DeFi products using Bitcoin as collateral, announced over its Discord it would halt the functioning of its products after reports of “unauthorized withdrawals of user funds.” During an “ask me anything” (AMA) session on Friday,… Source link

LUXEMBOURG, Nov 10 (Reuters) – Alphabet (GOOGL.O) unit Google lost an appeal against a 2.42-billion-euro ($2.8-billion) antitrust decision on Wednesday, a major win for Europe’s competition chief in the first of three court rulings central to the EU push to regulate big tech. Competition Commissioner Margrethe Vestager fined the world’s most popular internet search engine in 2017 over the use of its own price comparison shopping service to gain an unfair advantage over smaller European… Source link

In a major ruling that bolsters the European Union’s efforts to clamp down on the world’s largest technology companies, Google lost an appeal on Wednesday to overturn a landmark antitrust ruling by European regulators against the internet giant. The decision by the Luxembourg-based General Court related to a 2017 decision by the European Commission, the bloc’s executive branch, to fine Google 2.4 billion euros (about $2.8 billion) for giving preferential treatment to its own… Source link

The EU’s second-most senior court, the General Court, has upheld a 2017 ruling by the European Commission which found that Google broke antitrust law in how it used its search engine to promote its shopping comparison service and demote those of its rivals. Google and its parent company Alphabet appealed the decision, but the General Court today dismissed that appeal and upheld a fine of €2.4 billion ($2.8 billion). Google and Alphabet now have the option to appeal the decision yet… Source link

The European Union flag is seen with Google’s logo. Jaap Arriens | NurPhoto | Getty Images The EU’s General Court ruled Wednesday that the European Commission was right in fining Google for an antirust breach — in what represents a landmark moment for antitrust policy in the European Union. The ruling comes after the European Commission, the executive arm of the EU, said in 2017 that Google had favored its own comparison shopping services and fined the company 2.42 billion euros ($2.8… Source link

(Bloomberg) — Elon Musk has lost $50 billion so far this week after Tesla Inc. shares plunged for the second day in a row. Most Read from Bloomberg It’s the biggest two-day decline in the history of the Bloomberg Billionaires Index, and the biggest one-day fall after Jeff Bezos’s $36 billion plunge following his divorce from MacKenzie Scott in 2019. Tesla’s rout comes amid a tumultuous few days for the automaker. It started when Musk asked his Twitter followers over the weekend whether… Source link

(Bloomberg) — Mark Zuckerberg’s personal wealth has fallen by nearly $7 billion in a few hours, knocking him down a notch on the list of the world’s richest people, after a whistleblower came forward and outages took Facebook Inc.’s flagship products offline. Most Read from Bloomberg A selloff sent the social-media giant’s stock plummeting around 5% on Monday, adding to a drop of about 15% since mid-September. The stock slide on Monday sent Zuckerberg’s worth down to $120.9 billion,… Source link

Student borrowers with certain types of private loans inched closer to being able to discharge that debt in bankruptcy after a New York court ruling. On Thursday, the U.S. Court of Appeals for the Second Circuit sided with student debtor Hilal Homaidan against student loan giant Navient (NAVI), which had argued that private student loans could not be erased under the existing bankruptcy laws. A three-judge panel determined that certain private student loans can be discharged in certain cases… Source link