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Facebook-owner Meta Platforms, Google-owner Alphabet and other companies that sell online ads lost about $80 billion (roughly Rs. 6,39,324 crore) in combined stock market value on Thursday after Snap posted poor quarterly results and warned of an uncertain outlook. Slammed by a weakening economy, increased competition from TikTok and recent privacy changes on iPhones, the
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Snapchat’s owner plans to “substantially” slow recruitment after bleak results Thursday wiped 25 percent off the stock price of the tech firm, which is facing difficulties on several fronts. Snap reported that its loss in the recently ended quarter nearly tripled to $422 million (roughly Rs. 3,371 crore) despite revenue increasing 13 percent under conditions
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Tesla CEO Elon Musk lost his fight to delay Twitter’s lawsuit against him as a Delaware judge on Tuesday set an October trial, citing the “cloud of uncertainty” over the social media company after the billionaire backed out of a deal to buy it. “Delay threatens irreparable harm,” said Chancellor Kathaleen St. Jude McCormick, the
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A Moscow court has fined Google RUB 21 billion (nearly Rs. 2,900 crore) for failing to remove content concerning Russia’s military intervention in Ukraine, the nation’s telecommunications regulator said Monday. Roskomnadzor said the Google-owned video platform YouTube had failed to block “false information” on the offensive in Ukraine, “extremist and terrorist propaganda” and content “calling
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