Airbnb CEO Brian Chesky. John van Hasselt | Corbis | Getty Images A short-term rental vacation host has filed a proposed class action lawsuit against Airbnb, alleging that the tech company violated its contract with hosts when the company offered full refunds to guests in the wake of the coronavirus pandemic in March. The lawsuit
Technology
ESPN is going through another round of layoffs. CNBC obtained a memo to staffers where ESPN chairman Jimmy Pitaro confirmed roughly 300 layoffs as its parent company, Disney, shifts to more direct-to-consumer streaming, and following internal discussions about layoffs related to Covid-19. ESPN will also part ways with some on-air talent once contracts expire. “As
Amazon CEO Jeff Bezos Alex Wong | Getty Images Amazon CEO Jeff Bezos this week has sold more than $3 billion worth of shares in his company, according to filings with the Securities and Exchange Commission compiled by OpenInsider. Bezos has accelerated his stock sales in the last year. In August, Bezos offloaded more than
Facebook CEO Mark Zuckerberg in 2017. KENZO TRIBOUILLARD Shares of the major tech-related companies jumped early Wednesday as investors flocked toward Microsoft and the FAANG family, comprised of Facebook, Apple, Amazon, Netflix and Google parent company Alphabet, while the U.S. waited for a clear presidential winner. Facebook stock was the biggest winner of the morning,
CNBC; Getty Images AT&T is in discussions with private-equity firms, including Apollo Management, to sell a significant minority stake in its DirecTV, AT&T Now and U-Verse pay-TV businesses in a complicated transaction that would shift legacy assets off the wireless carrier’s balance sheet, according to people familiar with the matter. Under the terms of the
A logo of Ant Group is seen at the company’s headquarters on October 9, 2020 in Hangzhou, Zhejiang Province of China. Ding Junhao | Visual China Group | Getty Images SHANGHAI, China — Ant Group’s world record-setting initial public offering (IPO) in Shanghai and Hong Kong has been suspended. The Shanghai and Hong Kong stock
Co-founder and CEO of Netflix Reed Hastings attends a red carpet for the Netflix launch at Palazzo Del Ghiaccio on October 22, 2015 in Milan, Italy. Jacopo Raule | Getty Images Tech executives, rich from an 11-year bull market that’s disproportionately benefited their industry, were among the top political donors in the 2020 cycle. The
SINGAPORE — For Hong Kong’s financial technology ecosystem to grow further, the city needs more measures in the areas of funding, talent and regulation, according to a top official from the Chinese city. Compared to other technologies, fintech is the equivalent of a new industrial revolution and it can be potentially used as a lever
The logos of Amazon, Apple, Facebook and Google in a combination photo. Reuters Tech companies had more to report Thursday night than the billions in profits they generated last quarter. They also painted a dire picture of the world as we head into the winter months with Covid-19 cases spiking across the U.S. and Europe,
Facebook Chairman and CEO Mark Zuckerberg testifies at a House Financial Services Committee hearing in Washington, October 23, 2019. Erin Scott | Reuters Four years ago, Facebook CEO Mark Zuckerberg called it “a pretty crazy idea” that fake news on Facebook could have influenced the election that handed Donald Trump the presidency. Today, the idea
CEO Of Netflix, Reed Hastings, attends the red carpet during the Netflix presentation party at the Invernadero del Palacio de Cristal de la Arganzuela on April 4, 2019 in Madrid, Spain. Juan Naharro Gimenez | Getty Images Netflix announced Thursday it will raise prices for U.S. customers. Don’t be surprised if you’re reading the same
A man shows AirPods Pro at an Apple store on East Nanjing Road on October 30, 2019 in Shanghai, China. Apple’s new AirPods Pro with active noise cancellation are on sale on October 30 in China. Wang Gang | VCG | Getty Images Apple said on Friday that it’s replacing AirPods Pro headphones that have
Thomas Kurian, CEO of Alphabet’s Google Cloud, speaks at the Google Cloud Next conference in San Francisco on April 9, 2019. Michael Short | Bloomberg | Getty Images Google Cloud CEO Thomas Kurian told employees Friday that it received confirmation from the U.S. Customs and Border Patrol that its technology won’t be used for immigration
Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018. Anushree Fadnavis | Reuters Shares of Twitter, Facebook, Apple and Amazon remained down in premarket trading Friday after the companies released quarterly reports that failed to wow Wall Street. Here’s what’s
Apple CEO Tim Cook reveals the new iPhone 12. Source Apple reported earnings on Thursday and investors did not like the results. Apple stock dropped as much 5% in extended trading even though the company beat Wall Street expectations for both profit and revenue. The drop was likely because iPhone revenue came in at $26.4
Pinterest led by Chairman, Co-Founder, President and CEO Ben Silbermann and Co-Founder, Chief Design and Creative Officer, Evan Sharp ring the opening bell celebrating the IPO of Pinterest at the New York Stock Exchange in New York, April 18, 2019. Brendan McDermid | Reuters Shares of Pinterest surged more than 31% in premarket trading Thursday,