Activist investor Engine Capital has acquired a 4% stake in Upwork and is urging for changes to the company’s board due to underlying issues impacting the platform. While the letter to the board did not call for CEO Hayden Brown’s removal, it raised concerns about the board’s oversight of management. Engine highlighted the need for…
Alibaba’s Taobao shopping app topped the Apple App Store charts in Singapore after releasing an English version powered by AI translations. The app rose to first place in the shopping category on the day of the announcement. This move reflects Taobao’s dedication to serving diverse language fluency among Singapore users. The new platform enhances accessibility…
Warren East, former CEO of Rolls Royce and Arm, highlighted at a tech event in London that the U.K. is struggling to commercialize technology businesses globally. He mentioned that firms often move locations or list abroad due to difficulties in achieving global relevance from the U.K. East emphasized the need for a mindset shift in…
Larry Ellison, the chairman and co-founder of Oracle Corp., announced during the Oracle OpenWorld 2017 conference in San Francisco that the company’s shares rose by 9% in extended trading after reporting fiscal first-quarter results that exceeded Wall Street estimates. The company’s revenue increased by 8% to $13.31 billion, with earnings per share reaching $1.39 adjusted….
Palantir Technologies Inc. CEO Alex Karp recently attended a conference in Sun Valley, Idaho. The company’s shares surged 13% after being added to the S&P 500 index alongside Dell. Palantir reported a profit of $135.6 million in the second quarter, marking a significant increase from the previous year. Tech companies have been gaining more prominence…
Apple is trying to boost iPhone sales and prove to investors that the iPhone upgrade cycle is in full swing with the introduction of Apple Intelligence, their AI technology. The company is focusing on features like generating emoji, email messages, and notes using OpenAI’s ChatGPT. Analyst Ming-Chi Kuo highlights the importance of iPhone pricing and…
Cylib, a startup supported by Porsche and Bosch, is constructing a large electric vehicle battery recycling plant in Dormagen, Germany. The facility, expected to be the largest in Europe, will recycle 30,000 metric tons of end-of-life batteries annually. The recycled batteries will be used by Porsche and other clients in the electric vehicle industry. This…
Analysts at major Wall Street banks are becoming more cautious about chip maker ASML due to concerns about its demand outlook. UBS downgraded ASML to “neutral” and cut its price target, citing a potential plateau in litho intensity for logic and memory chips. Other banks, like Morgan Stanley and Bank of America, also lowered their…
The Try Guys, a popular YouTube creator group, have launched a standalone streaming service called 2nd Try to move away from relying solely on ads and algorithms for revenue. This new subscription-based model offers exclusive content for a monthly fee, providing a more stable income source. Other creators are also exploring similar models to avoid…
Nuclear plants are evolving to become smaller, simpler, and easier to build, with the introduction of small modular reactors (SMRs). These new designs aim to speed up the deployment of new plants to meet the increasing demand for clean electricity. The construction of large nuclear plants is costly and time-consuming, making SMRs a more attractive…