By Catherine Thorbecke, CNN Zoom on Tuesday said it will lay off about 1,300 employees, or approximately 15% of its staff, becoming the latest tech company to announce significant job cuts as a pandemic-fueled surge in demand for digital services wanes. In a memo to employees, Zoom’s CEO Eric Yuan said the layoffs would impact
Continue Reading By Clare Duffy, CNN Microsoft on Tuesday announced a revamp of its Bing search engine and Edge web browser powered by artificial intelligence, weeks after it confirmed plans to invest billions in OpenAI, the company behind ChatGPT. With the updates, Bing will not only provide a list of search results, but will also answer questions,
Continue Reading By Brian Fung, CNN Twitter temporarily suspended Montana Republican Sen. Steve Daines’s account for violations of the company’s sensitive media policy. For several hours on Tuesday, Daines’ Twitter profile displayed messages indicating the account was “temporarily unavailable because it violates the Twitter Media Policy.” According to an aide to the senator, Daines’ account was suspended
Continue Reading By Brian Fung, CNN Top US lawmakers on the Senate Intelligence Committee want answers from Meta on a newly disclosed internal investigation it conducted in 2018 that found tens of thousands of software developers in China, Russia and other “high-risk” countries may have had access to detailed Facebook user data before the company clamped down
Continue Reading By Paul R. La Monica, CNN Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, understands that consumers are still struggling to deal with high prices. And he has the frozen lasagna to prove it. Kashkari told CNN’s Poppy Harlow Tuesday that he knows first hand how expensive many consumer goods and services are.
Continue Reading By Alicia Wallace, CNN Inflation surged in January by the most in three months, according to the latest Consumer Price Index released Tuesday. But despite the monthly increase of 0.5%, inflation continued to slow on a year-over-year basis to 6.4%, according to the Bureau of Labor Statistics. That’s down from December’s 6.5% but higher than
Continue Reading By Parija Kavilanz, CNN On Super Bowl Sunday, an army of volunteers will be ready outside and inside State Farm Stadium in Glendale, Arizona to execute a time-sensitive game plan of their own. Their mission: recover and redistribute a tremendous volume of surplus food. Thousands of Eagles and Chiefs fans will gather on February 12
Continue Reading By Julia Horowitz, CNN The United Kingdom is pushing ahead with plans to create a digital pound issued by the Bank of England that would offer a stable alternative to bitcoin or ether. The central bank and the UK Treasury said Monday that an official digital currency is “likely to be needed in the future.”
Continue Reading By Julia Horowitz, CNN The United Kingdom is pushing ahead with plans to create a digital pound issued by the Bank of England that would offer a stable alternative to bitcoin or ether. The central bank and the UK Treasury said Monday that an official digital currency is “likely to be needed in the future.”
Continue Reading By Chris Isidore, CNN Boeing plans to cut about 2,000 white-collar jobs in finance and human resources, and it will be shifting some of that work to an outside contractor in India. Although Boeing will reduce office staff, the company is preparing to add 10,000 employees focused on engineering and manufacturing. The company said that
Continue Reading By Jordan Valinsky, CNN Bed Bath & Beyond is closing 150 more stores — just a week after the struggling retailer announced the closure of 87 locations. The company’s brick-and-mortar footprint has already shrunk dramatically, a regulatory filing showed late Monday, and the new closings mean it will have shuttered 400 stores in the past
Continue Reading By Anna Cooban, CNN Amazon has announced that it will help victims of the Turkey earthquake by donating food, medicine and equipment from its Istanbul warehouse. The retail giant said in a statement Monday that it had activated its “disaster relief capabilities” in response to a 7.8-magnitude earthquake that hit parts of southern Turkey and
Continue Reading By Nicole Goodkind, CNN Here’s what investors are paying attention to this Tuesday morning: â–¸ President Joe Biden is set to deliver his annual State of the Union Address at 9 p.m. ET in front of a newly fragmented Congress and to Americans confused by positive economic signs, a dismal earnings season and ongoing recession
Continue Reading By Michelle Toh and Anna Cooban, CNN BP’s annual profit more than doubled last year to an all-time high of nearly $28 billion, extending a record run of earnings for the world’s oil majors that is fueling calls for higher taxes on the windfall gains. The British energy company also announced Tuesday that it would
Continue Reading By Reuters Australia’s central bank raised its cash rate by 25 basis points to a decade-high of 3.35% on Tuesday and reiterated that further increases would be needed, in a more hawkish policy tilt than many had expected. Wrapping up its February policy meeting, the Reserve Bank of Australia (RBA) also dropped previous guidance that
Continue Reading By Rob McLean, CNN Microsoft reported that a “full restoration” of its Outlook service was nearly complete mid-morning Tuesday after a widespread outage for several hours overnight halted email and disrupted Teams and other products. Earlier Tuesday morning, Microsoft said on its service page that it had “applied mitigation throughout the affected infrastructure, and we’re
Continue Reading By Michelle Toh, CNN Alibaba says it will launch its own ChatGPT-style tool, becoming the latest tech giant to jump on the chatbot bandwagon. The Chinese behemoth said it was testing an artificial intelligence-powered chatbot internally. It did not share details of when it would launch or what the application would be called. “Frontier innovations
Continue Reading By Michelle Toh, CNN Shares in Baidu soared on Tuesday, after the Chinese search engine giant said it would be launching its own ChatGPT-style service. Its artificial intelligence chatbot called “Wenxin Yiyan” in Chinese or “ERNIE Bot” in English will launch in March, a spokesperson told CNN on Tuesday, adding that the project is currently
Continue Reading By Allison Morrow Binance, the world’s largest crypto exchange, said it would temporarily halt transfers of US dollars starting Wednesday. “Only a small proportion of our users will be impacted by this and we are working hard to restart the service as soon as possible,” the company tweeted Monday. “All other methods of buying and
Continue Reading By Catherine Thorbecke, CNN Google on Monday unveiled a new chatbot tool dubbed “Bard” in an apparent bid to compete with the viral success of ChatGPT. Sundar Pichai, CEO of Google and parent company Alphabet, said in a blog post that Bard will be opened up to “trusted testers” starting Monday, with plans to make
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