Stocks climbed as Wall Street prepared for an upcoming update on inflation that will hopefully show a smaller increase in pain for everyone

Stocks closed higher on Wall Street as investors wait for updates on inflation and corporate profits

(Reuters) -Daimler Truck expects revenues to grow as much as 60% between 2025 and 2030, top management of the truck

BOSTON--(BUSINESS WIRE)--Jul 11, 2023--

Silicon Valley venture capitalists are racing to get into artificial intelligence companies — including investors who once bet

Elon Musk has posted a series of explicit tweets about Mark Zuckerberg, including This week, Mr Musk tweeted that “Zuck is a cuck”, and followed it up with a post in which he proposed a “literal dick measuring contest”, alongside a ruler emoji. On Monday, he then responded to a post in which another user speculated that Mr Musk would lose such a contest. “This would so inappropriate & lacking in dignity … let’s do it!!!” Mr Musk wrote in a reply. It is just the latest in Mr Musk’s often intense responses to the launch of Threads, a Twitter competitor launched by Mr Zuckerberg’s company, Meta. He has also threatened to sue Meta over the similarities with his app, suggested that it is falsely joyful, and boosted posts that suggested the launch of Threads had actually helped the launch of Twitter. Mr Musk has also attempted to suggest that Twitter is both free of censorship and the pressure to be happy. “You are free to be your true self here,” he wrote in his most recent post on the topic. He has also promoted a post from Twitter’s chief executive, Linda Yaccarino, in which she suggested that Threads’ success had actually helped Twitter’s growth. “Don’t want to leave you hanging by a thread… but Twitter, you really outdid yourselves!” she wrote. “Last week we had our largest usage day since February. There’s only ONE Twitter. You know it. I know it.” It is not clear how much the launch of Threads has boosted or hurt Twitter’s usage. But external estimates suggest that the site’s usage is “tanking”, according to experts. Meta’s Threads surged past 100 million signups in its first five days, according to Mark Zuckerberg. In doing so, it became the fastest online platform to hit the milestone, overtaking ChatGPT. The app has been setting new records for user additions since its launch on Wednesday, with celebrities from Jennifer Lopez to Kim Kardashian joining the platform seen as the first serious threat to the Elon Musk-owned microblogging app. Twitter has responded by threatening to sue Meta over the app, alleging that the social media behemoth used its trade secrets and other confidential information. That claim, legal experts say, could be hard to prove. Threads shares some resemblance to Twitter, as do the numerous other social media sites that have cropped up in recent months. It allows posts that are up to 500 characters long and include links, photos and videos of up to 5 minutes. The app’s sprint to 100 million users was much faster than the two months OpenAI-owned ChatGPT took in January, which had made it the fastest-growing consumer application in history, according to a UBS study. Still, Threads has some catching up to do. Twitter had nearly 240 million monetizable daily active users, according to a company statement in July last year. Additional reporting by Reuters Read More Twitter gets strange endorsement from Taliban over rival Threads Tucker Carlson’s Twitter show is haemorrhaging viewers, reports says Twitter traffic ‘tanking’ after record-breaking Threads launch SpaceX smashes reusable rocket record as Elon Musk makes bold Starship claim Twitter restores TweetDeck’s old, ‘better’ version – but for how long? Account tracking Elon Musk’s jet is now on Threads after Twitter suspended it

A federal judge has handed Microsoft a major victory by declining to block its looming $69 billion takeover of video game company Activision Blizzard

LOS ANGELES--(BUSINESS WIRE)--Jul 11, 2023--

By Nell Mackenzie and Elizabeth Howcroft LONDON Global hedge funds not specialising in crypto assets have grown skittish

Microsoft’s attempt to buy the developer of Call of Duty in the biggest tech deal ever may be pressing ahead. A judge ruled that Microsoft could go ahead with its purchase of Activision, despite objections from its rival PlayStation. The US Federal Trade Commission had attempted to block the deal amid fears that it could limit competition in gaming. But the court said that it would not stop the deal. Now the UK’s Competition and Markets Authority, which originally blocked the deal earlier this year, said that it would consider new proposals from Microsoft that might make the deal reach approval in the UK, too. “After today’s court decision in the US, our focus now turns back to the UK,” said Brad Smith, vice chair and president at Microsoft. “While we ultimately disagree with the CMA’s concerns, we are considering how the transaction might be modified in order to address those concerns in a way that is acceptable to the CMA. “In order to prioritize work on these proposals, Microsoft and Activision have agreed with the CMA that a stay of the litigation in the UK would be in the public interest and the parties have made a joint submission to the Competition Appeal Tribunal to this effect.” The deal would be the largest for Microsoft and the biggest in the history of the videogame business. In its arguments, the FTC has said Microsoft would be able to use the Activision games to leave rival console makers like Nintendo and market-leader Sony Group out in the cold. Microsoft President Brad Smith tweeted that the company was “grateful” for the “quick and thorough” decision. “Our merger will benefit consumers and workers. It will enable competition rather than allow entrenched market leaders to continue to dominate our rapidly growing industry,â€Â Bobby Kotick, Activision Blizzard CEO, said in a statement. The FTC’s complaint had cited concerns about loss of competition in console gaming, as well as subscriptions and cloud gaming. To address the FTC’s concerns, Microsoft agreed to license “Call of Duty” to rivals, including a 10-year contract with Nintendo, contingent on the merger closing. During the five-day trial in June, Microsoft CEO Satya Nadella argued the company would have no incentive to shut out Sony’s PlayStation or other rivals in order to sell more Microsoft Xbox consoles. At issue in the Microsoft-Activision deal is leadership in a gaming market whose sales are expected to increase by 36% over the next four years to $321 billion, according to a PwC estimate. And while much of the testimony in the recent trial focused on “Call of Duty,” Activision produces other bestsellers like “World of Warcraft,” “Diablo” and the mobile game “Candy Crush Saga.” Additional reporting by Reuters Read More Microsoft Teams stops working in the middle of the working day Scientists invent cloak inspired by Roman god that could help us live on Mars Record-breaking sugar battery could supercharge transition to renewable energy Scientists invent cloak inspired by Roman god that could help us live on Mars Record-breaking sugar battery could supercharge transition to renewable energy Why the Battle of the Boyne has made its way into your iPhone

By Krystal Hu (Reuters) -Sapphire Ventures plans to invest over $1 billion in AI enterprise startups, doubling down on the

RADNOR, Pa.--(BUSINESS WIRE)--Jul 11, 2023--