By Catherine Thorbecke, CNN Business Amazon is ending its Covid-19 paid sick leave policy starting on Monday, the company said in a memo to employees this weekend that was shared with CNN Business. The return to pre-pandemic sick leave policies means that all US employees will now get up to five days of excused, unpaid
Continue ReadingBy Brian Fung, CNN Business The European Union is warning Apple about possible antitrust violations after an investigation into the iPhone maker’s dominance in mobile retail payments. The European Commission said Monday that it believes Apple has unfairly blocked competitors from using the wireless communications technology behind Apple Pay’s tap-to-pay capabilities. According to a statement
Continue ReadingBy Diksha Madhok, CNN Business India has seized more than $700 million from one of China’s biggest tech companies after accusing it of moving money out of the country illegally. In a statement on Friday, India’s Enforcement Directorate — the country’s main financial investigation agency — accused the Indian subsidiary of smartphone maker Xiaomi of
Continue ReadingBy Rishi Iyengar, CNN Business Just two days after he announced he would buy Twitter, Elon Musk sent out a deluge of tweets about his plans for the social media platform. One stood out for its broad appeal. “Twitter DMs should have end to end encryption like Signal, so no one can spy on or
Continue ReadingBy Sara Ashley O’Brien, CNN Business Some Apple employees are pushing back on the tech giant’s return to office pilot program, which will soon require most of its corporate workers to be in the office at least three days per week. The employees, organizing under a newly-formed group known as Apple Together that advocates for
Continue ReadingCNN, CNNBUSINESS By Brian Fung, CNN The president of the Amazon Labor Union warned Sen. Lindsey Graham on Thursday that he risks ignoring the concerns of workers at his own political peril. At the opening of a Senate Banking Committee hearing focused on Amazon (AMZN), in which Graham used his initial remarks to blast the
Continue ReadingCNN, CNNBUSINESS By Laura He, CNN Business Just three months ago, Apple became the top-selling smartphone brand in China for the first time in six years. Now it’s fallen back behind its Chinese rivals after suffering more than others from a first quarter slump in sales. Two research reports published this week showed Apple slipping
Continue ReadingBy Laura He, CNN Business Just three months ago, Apple became the top-selling smartphone brand in China for the first time in six years. Now it’s fallen back behind its Chinese rivals after suffering more than others from a first quarter slump in sales. Two research reports published this week showed Apple slipping to third
Continue ReadingBy Sara Ashley O’Brien, CNN Business Airbnb won’t require most staffers to return to the office — ever. The company told employees Thursday that they can permanently work remotely and can relocate anywhere within the country they currently work. Doing so won’t negatively impact compensation, the company said, meaning it will not adjust salaries downward
Continue ReadingBy Rishi Iyengar, CNN Business Amazon’s stock plummeted after the company reported on Thursday slowing growth and higher costs in its latest quarter and offered a disappointing revenue outlook. The tech giant said revenue grew 7% from the same period last year to $116.4 billion, slightly beating analyst forecasts but slower than the 9% growth
Continue ReadingCNN, CNNBUSINESS By Reuters Weibo, China’s equivalent of Twitter, told users on Thursday it would start to publish their IP locations on their account pages and when they post comments, in a bid to combat “bad behavior” online. The move, posted on Weibo’s official account, garnered over 200 million views and was widely discussed, with
Continue ReadingBy Samantha Murphy Kelly, CNN Business Apple topped Wall Street’s estimates in its latest quarter and reported one of the strongest three-month periods in its history on Thursday thanks to record revenues for its services business and strong iPhone sales. However, the company warned that new Covid-related restrictions in China could hurt the current quarter.
Continue ReadingCNN, CNNBUSINESS By Catherine Thorbecke, CNN Business Amazon is ending its Covid-19 paid sick leave policy starting on Monday, the company said in a memo to employees this weekend that was shared with CNN Business. The return to pre-pandemic sick leave policies means that all US employees will now get up to five days of
Continue ReadingBy Allison Morrow, CNN Business Nearly two months after losing his spot among the world’s 10 richest rich people, Mark Zuckerberg is clawing his way back. Shares of Meta, the parent company of Facebook and Instagram, shot up more than 17% Thursday, making Zuckerberg nearly $11 billion wealthier in a single day. The stock had
Continue ReadingCNN Catherine Thorbecke, CNN Business Elon Musk said Twitter might soon charge fees for certain users, as the billionaire continues to tease how he might change the platform as its new owner. Musk, who struck a roughly $44 billion deal to buy Twitter last week, said in a tweet the platform will “always be free
Continue ReadingBy Brian Fung, CNN As the public combs through Elon Musk’s Twitter feed for clues on how the billionaire entrepreneur intends to run the social media platform he’s buying for $44 billion, one mysterious line stands out: “authenticate all real humans.” That cryptic proposal is vague enough to keep people guessing about what Musk has
Continue ReadingCNN, CNN BUSINESS By Clare Duffy, CNN Business Elon Musk has raised just over $7 billion in additional equity financing to help fund his purchase of Twitter. The new investors include Oracle founder Larry Ellison, cryptocurrency platform Binance and venture capital firm Sequoia Capital, according to a new Securities and Exchange Commission disclosure Musk filed
Continue ReadingBy Reuters Weibo, China’s equivalent of Twitter, told users on Thursday it would start to publish their IP locations on their account pages and when they post comments, in a bid to combat “bad behavior” online. The move, posted on Weibo’s official account, garnered over 200 million views and was widely discussed, with some users
Continue ReadingCNN By Reuters Weibo, China’s equivalent of Twitter, told users on Thursday it would start to publish their IP locations on their account pages and when they post comments, in a bid to combat “bad behavior” online. The move, posted on Weibo’s official account, garnered over 200 million views and was widely discussed, with some
Continue ReadingBy Brian Fung, CNN More than 55 countries and the United States announced their commitment Thursday to defending a free and open internet, agreeing to uphold digital human rights in response to rising authoritarianism in cyberspace. The agreement, known as the Declaration for the Future of the Internet, aims to forestall an emerging “splinternet” characterized
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