Uber Technologies withdrew its financial guidance for 2020 and said it will write down about US$2-billion in investments after the coronavirus pandemic upended the ride-hailing business.
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Facebook and its partners said their libra cryptocurrency project will now support multiple versions of the digital coins, the majority of which will be backed by individual fiat currencies.
Google parent Alphabet is slowing hiring for the remainder of the year, the most drastic action by the Internet search giant since the Covid-19 pandemic began battering its advertising business.
GoPro said it will cut more than 200 jobs, shift the company’s sales operation to market its digital adventure cameras directly to consumers and withdraw its 2020 financial guidance.
ByteDance just kicked off a wave of hiring it envisions hitting 40 000 new jobs in 2020, at a time technology corporations across the globe are furloughing or reducing staff.
Airbnb has lined up $1-billion in debt, adding to last week’s same-size haul and boosting a financial cushion it can use to grow and pay bills as the global coronavirus pandemic crushes demand for travel.
That the US’s biggest companies are technology firms whose businesses stood up to lockdowns has been good news for its stock market. For the Nasdaq 100 Index, it’s been salvation.
Apple and Google have addressed questions about their upcoming Covid-19 smartphone contact-tracing solution, providing details about a partnership that has raised concerns among privacy experts.
Global PC shipments dropped the most since 2013 in the first quarter, after the Covid-19 pandemic ensnared the Chinese supply chain and created production problems for major hardware companies.
Zoom Video Communications will let paying customers decide which countries their virtual meetings get routed through, a move to assuage clients worried they may be vulnerable to Chinese snooping.