China has quietly built a blockchain platform. Here’s what we know

China has made blockchain technology a strategic priority. Blockchain-based Service Network, or BSN, is part of its efforts to build capacity in the industry. Yuichiro Chino | time | Getty Images Chinese President Xi Jinping has said his country must “seize the opportunities” presented by blockchain technology. In a speech in 2019, the Chinese leader … Read more

Affirm stock soars 34% after earnings ‘end some lingering bearish themes’

Shares of Affirm Holdings Inc. surged in after-hours trading on Thursday after the buy-it-now pay-later company reported better revenue and sought to reassure investors of its positioning in a time of recession. slow-down. Turnover at Affirm AFRM, +23.31% rose to $354.8 million in the third fiscal quarter from $231 million a year earlier, when analysts … Read more

Vehicles equipped with active driving assist technology crash into cyclists in AAA test

Photo: Harold Cunningham (Getty Images) The long road to autonomous vehicles has just hit a new speed bump. Despite great promises of performance from automakers looking for an autonomous future, recent trial from AAA revealed “inconsistent performance” with more basic Active Driver Assistance (ADA) tThis has resulted in repeated collisions between vehicles and cars and … Read more

Amazon lays off two employees linked to the Staten Island union effort

Workers line up to vote for a union election at Amazon’s JFK8 fulfillment center in the Staten Island borough of New York, United States, March 25, 2022. Brendan Mcdermid | Reuters Amazon fired two employees linked to a union drive that resulted in the company’s first unionized warehouse in the United States Mat Cusick and … Read more

$3.5 billion bet on bitcoin becoming a “reserve currency” for crypto is put to the test

Pedestrians walk past a Bitcoin cryptocurrency exhibit on February 15, 2022 in Hong Kong, China. Anthony Kuan | Getty Images A multi-billion dollar bet that bitcoin can act as a “reserve currency” for the crypto-economy is already being tested as controversial stablecoin UST struggles to maintain its peg at $1. UST fell nearly 99 cents … Read more

Uber CEO says company will cut costs and treat hiring as a ‘privilege’

Uber will cut spending and focus on becoming a leaner company to weather a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After the earnings, I spent several days meeting with investors in New York and Boston,” Khosrowshahi said in the email sent Sunday evening. “Clearly the … Read more

Uber CEO says company will cut costs and treat hiring as a ‘privilege’

Uber posted a loss of $5.9 billion in the first quarter of 2022. Philippe Pacheco | AFP via Getty Images Uber will cut spending and focus on becoming a leaner company to weather a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After the earnings, I spent … Read more