Month: October 2021

  • Uber partners with Hertz to offer 50,000 Tesla

    Uber Technologies Inc on Wednesday said it is launching a new partnership with rental car company Hertz to offer 50,000 Tesla Inc vehicles as a rental option for its ride-hail drivers by 2023. The announcement comes after Hertz on Monday said it would order 100,000 Tesla vehicles by the end of 2022, meaning that half…

  • AMD beats revenue estimates with $4.31B

    Advanced Micro Devices reported its revenues and earnings for the third quarter ended September 30 exceeded expectations, with revenue growing 54% to a record $4.3 billion. Non-GAAP net income for the quarter was $893 million, or 73 cents a share, beating expectations of 67 cents a share on a non-GAAP basis. AMD said it was…

  • Intel readies 12th-gen Alder Lake chips

    Intel’s 12th Gen Alder Lake chips have finally arrived, ushering in a new era of the company’s chips, lead by the flagship Core i9-12900K CPU, which Intel promises is the “world’s best gaming processor.” Intel is also heavily pushing Windows 11 as a key part of its Alder Lake lineup, noting that it’s worked with…

  • France protects book industry from Amazon

    As much as I like bookstores, this feels to me like too much protectionism. Sophie Fornairon’s independent bookshop has survived the rise of Amazon thanks to a French law that prohibits price discounting on new books, but she says the e-commerce giant’s ability to undercut on shipping still skews the market against stores like hers.…

  • Uber starts 15-minute delivery in Paris

    Uber starts 15-minute delivery in Paris

    Uber has launched a 15-minute delivery service in Paris, named Carrefour Sprint, in collaboration with Carrefour and French startup Cajoo. This service, available on the Uber Eats app, utilizes dark stores – dedicated small warehouses for quick order preparation. This move aims to cater to the fast-paced lifestyle of Parisians, though its necessity is subject…

  • Facebook Q3 earnings: profit beats estimates

    Surprise surprise, Facebook beats profit estimates. I was skeptical in this round considering Apple’s effort on privacy and I was wrong Looks like ads are still doing pretty well. Facebook reported mixed third quarter earnings on Monday, slightly missing revenue estimates but continuing to grow its user base in the face of multiple controversies that…

  • PayPal is exploring Pinterest acquisition

    San Jose, California-based PayPal has recently approached Pinterest about a potential deal, the people said, asking not to be identified because the talks are private. The companies have discussed a potential price of around $70 a share, the people said. Bloomberg Pinterest suffered user decline in the last year and I don’t think their management…

  • Facebook fined $69.6 million in the UK for Giphy takeover

    After Facebook acquired the popular GIF repository Giphy (reportedly for $400 million), the UK’s Competition and Markets Authority (CMA) launched an investigation to determine if the merger would lessen competition. As part of that probe, it said Facebook couldn’t continue with activities related to the merger (integrating products, merging teams and so on) without prior approval from…

  • WHO hired company to copy Moderna

    The World Health Organization has hired the company, called Afrigen Biologics and Vaccines, as part of a $100 million plan to figure out how to make an mRNA vaccine against COVID that is as close as possible to the version produced by Moderna. As to why WHO has chosen to try to copy Moderna rather than…

  • Netflix adds 4.4 million membership

    Netflix Inc. added 4.4 million memberships in the third quarter and beats earning estimates. Netflix Inc. said it added more subscribers than it predicted in the latest quarter as profit and revenue rose thanks to the return of popular series and new hits. The Los Gatos, Calif.-based streaming company said third-quarter profit increased to $1.45…

  • DoorDash v San Francisco

    DoorDash v San Francisco

    Last Friday, the city rejected allegations that its cap of fifteen percent on the commissions that third-party food delivery service platforms charge independent restaurants contravenes state and federal law. The 33-page motion to dismiss claims that DoorDash Inc. and Grubhub Inc.’s assertions are merely a collection of related, “legally flawed ideas.”  The platforms filed suit in July, arguing that…

  • DoorDash and Uber Eats is gaining on Grubhub

    DoorDash and Uber Eats is gaining on Grubhub

    On Wednesday, the new parent company of Grubhub, Amsterdam-based Just Eat Takeaway.com, TKWY 0.33% also known as Jet, provided a third-quarter trading update. While several countries showed stellar growth, Grubhub’s business looked disappointing, setting a negative tone ahead of third-quarter earnings for DoorDash DASH 0.61% and the Uber Eats unit of Uber Technologies. UBER -2.67%…