consumer services

If the sun is setting on Facebook, then TikTok is dancing in the moonlight. How long can its short-form video hold consumers’ fickle attention? Just a few years ago, China-based ByteDance’s TikTok was an app for kids, with videos of anthropomorphic pets or freakishly talented children dancing. Now it seems like everyone is using it, no matter their age. Its growth has come at the expense of its competition, such that just about every social-media company is now pouring money into copycat…

TOKYO— SoftBank Group Corp. 9984 10.64% , one of the world’s most aggressive high-tech investors, said Thursday it lost more money in its last fiscal year than it ever has—$13.2 billion—and will cut back its pace of new investments.“The world is in a chaotic situation,” said Chief Executive Masayoshi Son, citing Covid-19 and Russia’s invasion of Ukraine. “In this chaotic world, the approach we at SoftBank should take is defense.” The rough…

Diesel costs are reaching new highs across the U.S., straining the operations of trucking companies and wrecking the transportation budgets of businesses that need to ship goods.The price of the fuel that powers heavy-duty trucks has increased by more than $1.50 a gallon in roughly two months, according to the U.S. Energy Information Administration. The national average price has climbed to $5.62 a gallon, setting a record for the second week in a row, as prices at the pump surpassed $6 in some markets. “These fuel costs…

Twitter Inc. TWTR -2.47% Chief Executive Parag Agrawal said the company is pausing hiring and looking at ways to trim costs as he announced on Thursday the departure of two senior executives, according to an internal memo. The changes come weeks after the social-media platform agreed to be acquired by Elon Musk for $44 billion and are the latest example of a technology…

Companies including Chevron Corp. , Quest Diagnostics Inc. and Ernst & Young LLP are pushing to narrow proposed cybersecurity rules from the Securities and Exchange Commission in the private sector’s latest attempt to shape a growing array of regulations by Washington. In comments on rules proposed by the SEC, businesses in recent days have urged the agency to harmonize its deadline of four business days to disclose security incidents with similar rules from…

The transaction to acquire Switch for $34.25 a share was unanimously approved by a special committee of Switch’s board. Photo: Pavlo Gonchar/Zuma Press…

WASHINGTON—Tech-industry representatives are coming to Capitol Hill this week to warn that the remote-work trend will lead to more offshoring of software developer and other technology jobs unless the U.S. admits more high-skilled immigrants.Remote jobs in tech jumped by more than 420% between January 2020 and last month, growth that was intensified by the pandemic, according to a jobs data review by Tecna, a trade group for regional tech councils. In February, more than 22% of all tech jobs were listed as remote,…

U.S. health authorities and researchers are investigating why some people who appeared to recover from Covid-19 after taking Pfizer Inc.’s antiviral pill developed symptoms again soon after. Paxlovid is supposed to treat the newly infected, keeping them out of the hospital. Within two weeks of appearing to get better, however, some users experienced cold-like symptoms such as sore throat and cough, according to physicians and published case reports. The rebound cases haven’t resulted in…

Chinese companies like Alibaba Group Holding Ltd. BABA -5.79% are embracing buybacks and one-off dividends, handing cash to shareholders as they seek to shore up their battered stock prices and signal confidence in the long-term outlook. The dividend payouts and stock repurchases could help support a market that has been rattled by a series of challenges, which range from the economic impact of Beijing’s Covid-19 policies and sweeping regulatory crackdowns to concerns…

The technology industry, which powered the U.S. economy during the pandemic and grew at tremendous scale during a decade of ultralow interest rates, is confronting one of the most punishing stretches in years.Global powerhouses and fledgling startups are feeling pain from a variety of economic, industry and market factors, spawning postpandemic turbulence in e-commerce, digital advertising, electric vehicles, ride-hailing and other segments. Companies that emerged as job-creating juggernauts in the past two…