bloomberg news

Representative image.General Motors' self-driving car unit Cruise is preparing to resume testing its robotaxis on public roads with safety drivers in the coming weeks, with Houston and Dallas as potential locations, Bloomberg News reported on Thursday.Cruise suspended its U.S. operations in October after an incident in San Francisco, where one of its robotaxis dragged a pedestrian struck by another car."We have not set a timeline for deployment. Our goal is to relaunch…

Shares of Verizon Communications Inc, AT&T Inc and T-Mobile US Inc declined on Friday after a report said Amazon.com Inc was in talks with the US telecom firms to offer low-cost wireless services to its Prime members. Bloomberg News reported that Amazon was negotiating to get the lowest possible wholesale prices and could offer wireless plans for $10 a month or lower to Prime members through the partnerships, including a possible tie-up with Dish Network. "We are always exploring adding even more benefits for Prime…

Sea Ltd. said it is giving most employees a 5% pay increase after turning profitable, a milestone for the Singapore e-commerce and gaming company that slashed costs drastically during the technology industry’s downturn.Workers who joined on or before March 31 will get the salary bump effective this July, billionaire founder Forrest Li said in a memo to staff on Monday, seen by Bloomberg News. He said the company has reached “self-sufficiency” as its cash balance is now increasing rather than shrinking every quarter, a…

Microsoft Corp has threatened to cut off access to its internet-search data, which it licenses to rival search engines, if they do not stop using it as the basis for their own artificial intelligence chat products, Bloomberg News reported on Friday.The company has told at least two customers that using its Bing search index - a map of the internet that can be scanned in real time - to feed their AI chat tools violates the terms of their contract, the news agency said, citing people familiar with the dispute.Redmond,…

Activist investor Elliott Investment Management disclosed on Monday it had become the largest shareholder in Pinterest Inc, backing the management of the digital pin-board firm and sending the company's shares up 21%. Pinterest has "significant potential for growth", which led Elliott to become its largest shareholder, Elliott managing partner Jesse Cohn and senior portfolio manager Marc Steinberg said in a statement. Elliott did not disclose its stake in Pinterest. However, the Wall Street Journal reported in July that…

Amazon.com Inc is pausing the construction of six new office buildings in Bellevue and Nashville to reevaluate the designs to suit hybrid work, the tech giant said on Friday. The pausing and delay of construction will not affect Amazon's hiring plans, a company spokesperson said, reiterating the firm's proposal to create 25,000 jobs in Bellevue and another 5,000 in Nashville. "The pandemic has significantly changed the way people work ... Our offices are long-term investments and we want to make sure that we design them…

South Korean chipmaker SK Hynix Inc is considering cutting its 2023 capital expenditure by about a quarter to 16 trillion won ($12.16 billion), Bloomberg News reported, citing people familiar with the matter. The move by SK Hynix, the world's second-largest memory chip maker after Samsung Electronics, is in response to slower-than-anticipated electronics demand, according to the report. SK Hynix said it has not decided whether to change its capital expenditure plan for next year. Chipmakers such as world's largest…