Porsche, Audi, General Motors and other established automakers are trying to take on Tesla with splashy new electric vehicles, but the first real competition from an upstart may come from Lucid Motors, a company run by a former chief engineer on the Tesla Model S. Lucid CEO Peter Rawlinson is […]
Microsoft launches Mesh service for augmented reality collaboration
The Microsoft Mesh service provides a way for developers to add collaborative features such as video calling and hologram sharing to augmented-reality applications. Microsoft Microsoft on Tuesday announced Mesh, a service to build apps for people to collaborate in augmented reality. Augmented reality (AR) shows computer-generated images superimposed over the […]
$7.25 minimum wage doesn’t help families pay all the bills in any state
Activists with Our Revolution hold $15 minimum wage signs outside the Capitol complex on Thursday, Feb. 25, 2021, to call on Congress to pass the $15 federal minimum wage hike proposed as part of the Covid relief bill. Bill Clark | CQ-Roll Call, Inc. | Getty Images After legislative setbacks, […]
Shares of Rocket Companies, a large short target of hedge funds, jump more than 20%
The WallStreetBets forum on the Reddit Inc. website on a laptop computer and the logo on a smartphone arranged in Hastings-On-Hudson, New York, U.S., on Friday, Jan. 29, 2021. Tiffany Hagler-Geard | Bloomberg | Getty Images Shares of Rocket Companies rallied more than 20% Tuesday in a surprising move on […]
Instacart’s valuation doubles to $39 billion
Instacart is being valued at $39 billion in a new round of funding that will add $265 million to the grocery delivery company’s coffers. It’s the second time Instacart’s valuation has doubled since the start of the Covid-19 pandemic. Less than five months ago, Instacart raised $200 million in a […]
Extensions would prevent unemployment benefits ending after one year
People line up to receive free food donations Nov. 19, 2020 outside the St. Charles Borromeo Church in New York. Robert Nickelsberg | Getty Images News | Getty Images It’s been almost a year since the pandemic upended the labor market and hurtled millions into unemployment. Normally, that demarcation line […]
Eric Schmidt’s National Security Commission on AI issues China warning
Eric Schmidt speaks during a National Security Commission on Artificial Intelligence conference November 5, 2019, in Washington Alex Wong | Getty Images The U.S. is drastically underprepared for the age of artificial intelligence, according to a group of experts chaired by former Google CEO Eric Schmidt. The National Security Commission […]
Zoom Video, Novavax, Nio & more
Take a look at some of the biggest movers in the premarket: Zoom Video (ZM) – Zoom reported quarterly profit of $1.22 per share, beating the consensus estimate of 79 cents a share. Revenue also topped forecasts, and Zoom gave an upbeat current-quarter forecast in anticipation of millions continuing to […]
Ant Group says will help employees monetize shares after canceled IPO
A logo of Ant Group is pictured at the headquarters of the company, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020. Aly Song | Reuters GUANGZHOU, China — Ant Group will find a “liquidity solution” for employees to monetize shares after its massive initial public offering […]
Chip shortage will hit electric car production
A Nio Inc. ES6 electric SUV at a battery swap station inside a parking lot in Shanghai on March 1, 2021. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese electric car start-up Nio said Tuesday a global chip shortage will force it to manufacture fewer cars in the […]