Volatility in the cryptocurrency markets is nothing new. In May, markets suffered a $2 trillion crash, and have slowly recovered. But news that the world’s second largest crypto exchange was on the…
Hiring Freezes and Workforce Cuts Hit Tech Companies Hard
Several prominent technology companies have announced either hiring freezes or significant cuts in workforce this week, as the industry continues to grapple with difficult economic conditions. Social media giant is said to…
Microsoft and Alphabet Report Disappointing Q3 Earnings
Tech giants Alphabet and Microsoft both posted disappointing third quarter earnings reports this week, proof that even the largest companies in the sector are not immune to the current global economic strife. …
Porsche Shares Rise After IPO
Porsche made its stock market debut on Thursday, in one of Europe’s biggest ever public offerings. The IPO, which values the automaker at around 75 billion euros, appears to have been a…
Interpol Issues Arrest Notice for Crypto Founder
Interpol has issued a “red notice” for Do Kwon, the founder of the failed cryptocurrency Terra. The red notice means Interpol has asked law enforcement agencies around the world to find and…
Porsche to Go Ahead with IPO
The iconic automaker Porsche is to go public in the next few weeks, despite turbulent economic conditions putting off other major deals. Volkswagen first contemplated spinning off Porsche in February, just before…
Snap cuts 20% of Workforce in Restructuring Effort
Snap, the maker of the messaging app Snapchat, will cut a fifth of its workforce and scrap a host of new projects, as the company looks to recover from a year of…
Musk Subpoenas Twitter Whistleblower in Latest Bid to Nullify Takeover Deal
Elon Musk has subpoenaed the Twitter whistleblower who last week accused the company of poor security practices, as he continues to fight to withdraw from his $$44 billion agreement to buy the…
Adam Neumann Secures $350m for Residential Real Estate Venture
Andreessen Horowitz has confirmed its largest individual investment ever, writing a check of $350 million to Flow, the residential real estate company led by Adam Neumann, the controversial founder of WeWork. Neumann’s…
Rivian Announces Production Ramp Up, $1.7 billion loss
Rivian, the electric vehicle manufacturer which went public in the biggest IPO of last year, has reaffirmed its expectation to deliver 25,000 vehicles this year, as it posted a giant loss in…