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1807 articles · page 34 of 38

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Apple's New CEO John Ternus Receives Day-One Briefing: Hardware Status and Siri Delay on Agenda

John Ternus officially began his tenure as Apple’s CEO today, greeted by a day-one briefing memo that outlines the company’s hardware divisions and flags a delay in the long-awaited Siri update from the Apple Intelligence team. The memo, addressed to Ternus and obtained by The Verge, combines a welcome to his new office — described as a Jony Ive design with door-handle-free doors — with a summary of the business and a note that the Siri discussion has been postponed, with the team promising they are 'for real' this time.

·2 min
Business

Nvidia builds IP licensing empire as rivals adopt NVLink Fusion interconnect

Nvidia is expanding its influence in the AI chip market by licensing its high-speed NVLink Fusion interconnect technology to rival chip designers, including MediaTek, Amazon, Fujitsu, Qualcomm, Arm, and Marvell. The strategy allows these companies to build custom AI accelerators without developing their own scale-up networking, while Nvidia secures licensing fees and ongoing sales of its NVSwitch and other products.

·2 min
Startups

Bolt CEO Ryan Breslow seeks $27M bridge round with punitive pay-to-play terms

Ryan Breslow, the controversial co-founder and CEO of checkout startup Bolt, is raising a bridge round of up to $27 million from existing investors, structured as a convertible note with a punishing pay-to-play provision that threatens to dilute non-participating backers. Breslow personally committed $5 million to demonstrate his belief in the company, which once boasted an $11 billion valuation and now sits at $300 million.

·2 min·2 sources
Business

Phil Schiller Steps Down as Apple's App Store Head Amid CEO Transition

Phil Schiller, Apple's long-serving head of the App Store and a 37-year veteran of the company, has stepped down from his role as the tech giant undergoes a leadership shakeup following CEO Tim Cook's announcement of his departure. Schiller will remain with Apple as an Apple Fellow, working on unspecified projects, while day-to-day App Store operations are handed to Carson Oliver, a 14-year Apple veteran. The App Store is also being moved from the marketing department to Apple's services division, led by Eddy Cue.

·2 min
Startups

Clipto Raises $15M at $250M Valuation to Help Users Search Terabytes of Video and Files

Clipto, a San Francisco-based startup that uses artificial intelligence to index and search video, audio, images and other files stored on a user's computer, has raised $15 million in an all-equity round at a $250 million post-money valuation. The company, which also has teams in Singapore and Hong Kong, says it has attracted more than 30 million users since its 2023 launch and reached $15 million in annual recurring revenue at the beginning of 2026, while remaining profitable on a net-income basis.

·3 min·3 sources
Business

Trade war between US and Canada shows no signs of resolution as tariffs escalate

The ongoing trade war between the United States and Canada continues to escalate with no resolution in sight, as both nations impose retaliatory tariffs on key sectors. The US has levied tariffs on Canadian steel, aluminum, lumber, and automobiles, and recently added a 50% levy on approximately C$28 billion ($20 billion) of Canadian goods. Canada has responded with its own strategic, dollar-for-dollar counter-tariffs on American goods.

·2 min
Business

Grindr targets 'everything app' status as revenue triples but valuation discount persists

Grindr is betting that a pivot from hookup app to all-purpose platform for gay men — spanning healthcare, travel and a premium AI-powered subscription tier — will power its next phase of growth. Four years after CEO George Arison took over a company in disarray, revenue is on pace to roughly triple from $195 million in 2022 to more than $540 million this year, yet Arison says Wall Street still discounts the stock simply because it is a gay dating app.

·2 min
Business

Company behind Trump-praised discount gas stations sued for alleged $4m fuel theft

The company that supplied fuel to Freedom Fuel Network — discount gas stations publicly praised by former President Donald Trump — is being sued for allegedly stealing nearly $4 million worth of gasoline. Mansfield Oil Company filed the lawsuit on August 19 in U.S. District Court in Eastern Pennsylvania, accusing KRSM and its president, Syed Kazmi, of taking 1.1 million gallons of fuel between May 21 and July 7 without paying for it.

·2 min·2 sources
Business

China's top DRAM maker CXMT sues Pentagon over blacklisting, argues chips are civilian-grade

ChangXin Memory Technologies (CXMT), China's leading DRAM producer, has filed a lawsuit against the U.S. Department of Defense seeking to overturn its classification as a company linked to China's military. The company argues the Pentagon's decision lacked evidence, violated due process, and was based on a flawed 'military grade' claim originating from an unauthorized distributor. CXMT maintains its memory chips conform to commercial JEDEC standards and are not designed for military use.

·3 min
Business

Hollywood Stars Bet on Microdrama Apps as Short-Form Content Boom Continues

Hollywood celebrities are increasingly investing in microdrama apps — platforms offering short, scripted series designed for mobile viewing — as the format rapidly gains traction in the United States. Industry research firm Omdia estimates U.S. revenue from microdramas will reach $1.5 billion this year, fueled by apps like ReelShort, DramaBox, and TikTok’s PineDrama. Actor James Franco is among the latest notable names to get involved, according to a TechCrunch report.

·2 min
Business

Former KPMG partner accused of sexual advances and secret cash payments in whistleblower letter tabled in parliament

A whistleblower letter tabled in federal parliament alleges former KPMG partner Philip Henry made unwanted sexual advances toward female staff and clients and received secret cash commissions for facilitating tax arrangements. The allegations are the latest to surface in a parliamentary inquiry examining how KPMG audit partners allegedly misused client data and mishandled a whistleblower complaint.

·2 min·2 sources
Business

Micron Taiwan Faces Potential Strike as 80% of Workers Back Profit-Sharing Demand

Micron Technology's operations in Taiwan may be disrupted by a strike, with a preliminary survey indicating 80% support among workers for labor action over bonus pay. The company's labor union is demanding the replacement of the current bonus system with a profit-sharing scheme similar to those at rivals SK hynix and Samsung, which have paid out bonuses worth hundreds of thousands of dollars amid the AI-driven memory chip shortage.

·2 min
Business

Apple Raises iPhone Prices by $100 on Older Models, Following Subscription Hikes

Apple has increased prices on its older iPhone models by $100 following its September 9 "Surprise and shine" event, adding to a wave of subscription price hikes across its services. The iPhone 16, iPhone 17E, iPhone 17, and iPhone Air all saw $100 increases, with the iPhone 16 now starting at $799, up from $699. The move comes weeks after Apple raised the monthly cost of Apple TV from $12.99 to $14.99 and the Apple One bundle from $19.95 to $21.95.

·2 min·8 sources
Business

NextDC CEO Predicts Data Centre Build Times to Halve to Nine Months

NextDC, one of Australia's largest data centre operators, has announced its annual net profit reached $82.1 million, with shares climbing after the company revealed it expects to receive income from customers faster than previously anticipated. More significantly, the company’s chief executive stated that data centre construction times will be halved to just nine months, a move that could reshape the country's digital infrastructure landscape.

·3 min
Business

Corporate Travel Management Refunds Tens of Millions to Overcharged Clients

Corporate Travel Management (CTM) is refunding tens of millions of dollars to clients after an internal review revealed the company had failed to pass on margins and rebates from suppliers, including hotels and airlines. The Brisbane-based TMC (travel management company), which serves corporate clients worldwide, has not disclosed the exact number of affected customers or the total amount repaid, but the revelation has raised questions about oversight and transparency in the corporate travel sector.

·2 min·2 sources
Business

Stripe-Advent Consortium Abandons $50B Acquisition of PayPal

A consortium led by payments giant Stripe and private equity firm Advent International has abandoned its pursuit of PayPal Holdings Inc., ending a months-long effort to acquire the digital payments pioneer in a deal valued at approximately $50 billion, according to people familiar with the matter. The decision, reported by Bloomberg, removes the prospect of what would have been the largest consolidation in the fintech sector.

·2 min