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☆ All the hidden Netflix, Prime, Apple and Spotify benefits you didn't know you get as a subscriber
▼ + stars: | 2023-07-15 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

Netflix, Apple, and more have perks that appeal to gamers, and those wanting to save money. There's no need to own a Kindle device as there's an app available to mobile devices and computers. There's also free music on offer with Prime – 100 million songs in fact – as well as podcasts, all ad-free, but yes, there is a catch of sorts. Spotify offers 300,000 audiobook titles InsiderApple One bundleIf you're paying $10.99 a month for Apple Music, you might want to consider upgrading to the Apple One bundle for about $6 more. Doing so will give you AppleTV+, the Arcade gaming service, Apple News+, Apple Fitness+ and 50 gigabytes of iCloud storage, as well as your tunes.

Persons: You'll, There's, Gucci, Riley's, it's Organizations: Netflix, Apple, Service, Amazon, Sonic, Wired, Twitch, Rush Shipping, Spotify, Apple Music, Arcade Locations: Wall, Silicon

☆ Nokia misses Q2 expectations, lowers full-year guidance
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

STOCKHOLM, July 14 (Reuters) - Finnish telecom gear group Nokia (NOKIA.HE) reported on Friday second-quarter sales of 5.7 billion euros ($6.4 billion), a comparable operating profit margin of 11%, and lowered its full-year outlook. Nokia said it now saw 2023 sales of 23.2-24.6 billion euros ($26.1-$27.6 billion) against 24.6-26.2 billion previously. It narrowed its comparable operating margin range outlook to 11.5-13% from 11.5-14% previously. New Nokia's logo is displayed before GSMA's 2023 ahead of the Mobile World Congress (MWC) in Barcelona, Spain February 26, 2023. ($1 = 0.8906 euros)Reporting by Anna Ringstrom, editing by Louise Rasmussen and Matt ScuffhamOur Standards: The Thomson Reuters Trust Principles.

Persons: Refinitiv, Albert Gea, Anna Ringstrom, Louise Rasmussen, Matt Scuffham Organizations: Nokia, Mobile World Congress, REUTERS, Nokia's Network Infrastructure, Mobile Networks, Thomson Locations: STOCKHOLM, Finnish, Barcelona, Spain

☆ Lucid's second quarter deliveries fell short of estimates amid demand concerns
▼ + stars: | 2023-07-12 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Visitors walk at the Lucid Air during the Mobile World Congress 2023 (MWC), the telecom industry's biggest annual gathering on February 28, 2023 in Barcelona, Spain. Luxury electric vehicle maker Lucid Group said Wednesday that it delivered 1,404 of its Air sedans to customers in the second quarter, a bearish update amid demand concerns. Lucid's second-quarter deliveries compare with 1,406 deliveries in the first quarter of 2023 and 679 in the second quarter of 2022. Wall Street analysts polled by FactSet had expected Lucid to deliver about 2,000 Airs in the second quarter. Lucid's stock has fallen about 58% in the last year through Tuesday amid growing concerns about demand for the Air luxury sedan.

Persons: FactSet, Wall, Peter Rawlinson, Lucid, Aston, Aston Martin Organizations: Mobile, Lucid, Wall Street, Air, Aston Martin, British, Saudi Arabia's Public Investment Fund Locations: Barcelona, Spain, U.S

WASHINGTON, July 11 (Reuters) - A U.S. judge ruled on Tuesday that Microsoft may go forward with its planned acquisition of videogame maker Activision Blizzard, turning aside antitrust enforcers' request for a preliminary injunction to temporarily stop the $69 billion deal. The FTC had originally asked the judge to stop the proposed deal, arguing it would give Microsoft Corp (MSFT.O), maker of the Xbox gaming console, exclusive access to Activision (ATVI.O) games including the best-selling "Call of Duty." The deal would be the largest for Microsoft and the biggest in the history of the videogame business. The FTC's complaint had cited concerns about loss of competition in console gaming, as well as subscriptions and cloud gaming. And while much of the testimony in the recent trial focused on "Call of Duty," Activision produces other bestsellers like "World of Warcraft," "Diablo" and the mobile game "Candy Crush Saga."

Persons: Jacqueline Scott Corley, Douglas Farrar, we'll, Brad Smith, Bobby Kotick, Satya Nadella, Diane Bartz, Caitlin Webber Organizations: Microsoft, Activision, Britain's, Markets Authority, Federal Trade Commission, FTC, Microsoft Corp, Sony PlayStation, Nintendo, Sony Group, Activision Blizzard, PlayStation, Thomson Locations: U.S, San Francisco

Activision shares surged 10% on the day, as the U.S. and Britain have been the two countries opposed to what would be Microsoft's biggest deal ever and the largest transaction in the videogame industry's history. Microsoft shares rose 64 cents to $332.47. Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. "It does seem like the Microsoft and the CMA could work out a deal within the next couple of weeks," said D.A. The FTC's complaint had cited concerns about loss of competition in console gaming, as well as subscriptions and cloud gaming.

Persons: Jacqueline Scott Corley, ”, Joost Van Dreunen, University's, Corley, Douglas Farrar, we'll, Dado Ruvic, Biden, Brad Smith, Franco Granda, Satya Nadella, Diane Bartz, David Shepardson, Jaspreet Singh, Aditya Soni, Chris Sanders, Caitlin Webber, Matthew Lewis David Gregorio, Muralikumar Organizations: Activision, Microsoft, Biden, U.S, Markets Authority, University's Stern School of Business, U.S . Federal Trade Commission, Nintendo, Sony Group, FTC, Sony PlayStation, REUTERS, FOCUS Gaming, CMA, Davidson &, PlayStation, Thomson Locations: WASHINGTON, U.S, British, Britain, San Francisco, New, Washington, Bengaluru

☆ Twitter's desktop app sees surge in outages as Meta's Threads takes off
▼ + stars: | 2023-07-07 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +1 min

In this photo illustration, Threads logo seen displayed on a smartphone with the Twitter profile of Elon Musk in the background. Twitter is experiencing a wave of outages just as Meta's brand new rival Threads service is racking up tens of millions of signups. Many Twitter users have reported outages over the past 24 hours, with problems seemingly skyrocketing around 9:30 a.m. About 70% of the Twitter outages appear related to its desktop service, Downdetector noted. Meanwhile, the Threads app has recorded 70 million signups just a day after its official release as of Friday morning, Meta CEO Mark Zuckerberg wrote in a Threads post.

Persons: Elon Musk, Downdetector, Mark Zuckerberg, Zuckerberg, Linda Yaccarino Organizations: Elon, Twitter, Meta

☆ Samsung flags 96% drop in quarterly profit as chip glut drags on
▼ + stars: | 2023-07-06 | by ( ) edition.cnn.com time to read: +3 min

It would be Samsung’s lowest profit for any quarter since a 590 billion won profit in the first quarter of 2009, according to company data. Shares in Samsung (SSNLF) fell 1.4% in early morning trade, underperforming a 0.6% drop in the wider market. In the January to March quarter, the company reported a whopping 4.58 trillion won loss in its chip business as memory chip prices fell further and its inventory values were slashed. But in the second quarter, losses in Samsung’s memory chip business likely shrank due to more sales of DRAM chips — used in PCs, mobile phones and servers — analysts said. Revenue in April to June likely fell 22% from the same period a year earlier to 60 trillion won, Samsung said in the statement.

Persons: Refinitiv, ”, Kang, Greg Roh Organizations: Samsung Electronics, Samsung, Daishin Securities, Hyundai Motor Securities, ”, Apple Locations: Seoul

☆ A $12 phone is opening doors for rural India to get on the internet
▼ + stars: | 2023-07-06 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +7 min

All that could change with a new $12 phone from Reliance Jio this week. India is already the world's second-largest smartphone market and is likely to add 300 million new internet users, making it the fastest country to provide internet services to those who remain unconnected, Mishra said. "However, screen size can limit the experience a bit, but still good for first-time internet users." Reliance Jio has rolled out 5G services in 406 cities in India. Additionally, Singh highlighted that Reliance Jio hopes first-time internet users who purchase the Jio Bharat will eventually upgrade to more advanced phones down the road.

Persons: Mukherjee, Akash Ambani, Jio Bharat, Varun Mishra, Mishra, Navkendar Singh, Singh, Jio, Bharat, There's, Nikhil Batra, Batra, Research's Mishra Organizations: International Data Corporation, Afp, Getty, Reliance, Reliance Industries, Counterpoint Research, CNBC, Vodafone, Aditya Birla Group, Vodafone Group —, BSNL, IDC, Nurphoto, Macquarie Research, Vodafone Idea, Bharti Airtel, Macquarie, Jio, Airtel Locations: India, Jio, Delhi, Mumbai, Kolkata, Bihar, Jammu, Kashmir, Himachal Pradesh

☆ 12 things to do when you get the Venture X Card
▼ + stars: | 2023-07-05 | by ( Ariana Arghandewal | Add An Authorized User | ) edition.cnn.com time to read: +11 min

The Capital One Venture X Rewards Credit Card made quite a splash when it launched in 2021. Getty ImagesWhile you’re moving monthly bills to your Capital One Venture X card, don’t forget your cell phone bill. Getty ImagesThe Capital One Venture X card offers a $100 application fee credit towards Global Entry or TSA Precheck. As a Capital One Venture X card holder, you can claim a free PRIOR subscription by navigating to your accounts benefit tab. Join Gravity HausAs a Capital One Venture X card holder, you’ll receive a $300 discount on an annual Gravity Haus membership every 12 months.

Persons: you’ll, it’s, Hertz, you’re, Hilton Organizations: CNN, American Express, Venture, Capital, Hertz, Global, TSA, Getty, Reebok, Bloomingdale’s, GameStop, IHG, Booking.com, Entertainment, The, Francisco’s Legion, Royal Academy of Arts, Gravity, Gravity Haus Locations: New York, London

☆ Samsung sues Chinese rival over alleged patent violation on iPhone displays
▼ + stars: | 2023-07-03 | by ( Hyunjoo Jin | Industry Insight | Corporate Attorneys Don T Want To Pay Law Firms For Chatgpt When They Could Use It Themselves | ) www.reuters.com time to read: +2 min

SAN FRANCISCO, July 3 (Reuters) - South Korea's Samsung Display has filed a lawsuit against BOE Technology (000725.SZ), accusing the Chinese rival of infringing five of its patents for displays used in mobile devices including Apple's (AAPL.O) iPhone 12. Samsung Display, a unit of Samsung Electronics (005930.KS), asked a federal jury in Texas to award damages for the infringement of patents regarding organic light emitting diode (OLED) displays supplied by BOE. Samsung also seeks an injunction from the court to halt the import and sale of the affected displays. Apple has been using OLED displays on some of its Apple Watch and iPhone models, including the latest iPhone 14. The OLED display market is dominated by Samsung Display, with BOE narrowing the gap, overtaking South Korea's LG Display (034220.KS) as the No.

Persons: BOE, Apple, OLED, Omdia, Choi Kwon, Hyunjoo Jin, Stephen Nellis, Matthew Lewis Organizations: FRANCISCO, Samsung, BOE Technology, Samsung Electronics, U.S, Apple, Apple Watch, South, LG, U.S . International Trade Commission, San, Thomson Locations: Texas, East Texas, South Korea, China, San Francisco

☆ A former Instagram product manager explains why he's 'skeptical' the company can successfully launch a new standalone app, as it preps its Twitter rival
▼ + stars: | 2023-07-03 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +5 min

Insider spoke with a former Instagram product manager to better understand the platform's decisions. IGTV, which launched in 2018 with its own separate app, was sunset in 2022 and its app is now defunct. But Instagram's ethos was its own downfall when it came to rolling out the IGTV product and separate app. The only other alternative, then, is adding a Twitter-like feed to the main Instagram app. "It's almost this predetermined life cycle of a social consumer app," Wei said, adding that Facebook has already gone though this phase.

Persons: Instagram, Eric Wei —, —, Wei, didn't, Oprah, Kevin Systrom, IGTV, We've, Adam Mosseri, Instagram's, Mary Organizations: Twitter, Facebook, YouTube, Meta Locations: Instagram

☆ A Tesla owner says he was locked out of his EV after its 12-volt battery died amid the Texas heat
▼ + stars: | 2023-07-02 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Dennis Hegstad said his Model 3 was stuck in his driveway after its 12-volt battery died. The Tesla owner attributes the issue to the impact of the Texas summer heat on the battery. A Tesla owner said he was locked out of his Model 3 in his driveway after the 12-volt battery, which powers the car's smaller functions including windows and doors, died last week amid the Texas summer heat. Hegstad is not the first Tesla owner to report issues with getting into his EV. Last year, a Tesla owner went viral on TikTok after he said he was locked out of his Model S after the lithium-ion battery died.

Persons: Dennis Hegstad, Tesla, Hegstad, Tesla's, — Hegstad, he'd, Glenn Howerton Organizations: EV, Twitter, Tesla Locations: Texas, Austin, hosing, Philadelphia, Los Angeles

☆ A former Instagram product manager breaks down the company's 2 key characteristics and how they could help or hurt its Twitter competitor
▼ + stars: | 2023-06-30 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +5 min

Insider spoke with a former Instagram product manager to better understand the platform's decisions. But Eric Wei — a former Instagram product manager from 2017 to 2019, and cofounder of creator fintech startup Karat — has spent years decoding it. But Instagram's ethos was its own downfall when it came to rolling out the IGTV product and separate app. The only other alternative, then, is adding a Twitter-like feed to the main Instagram app. "It's almost this predetermined life cycle of a social consumer app," Wei said, adding that Facebook has already gone though this phase.

Persons: Instagram, Eric Wei —, —, Wei, didn't, Oprah, Kevin Systrom, IGTV, We've, Adam Mosseri, Instagram's, Mary Organizations: Twitter, Facebook, YouTube, Meta Locations: Instagram

☆ As the South Stews, Temperatures Are Set to Rise in the West, Too
▼ + stars: | 2023-06-30 | by ( Emily Cochrane | Judson Jones | ) www.nytimes.com time to read: 1 min

When forecasters predicted that oppressive heat would settle over much of the South for days this month, one of the first thoughts for staff members at the Mobile Botanical Gardens was how to protect their most sensitive plants. But with the prolonged heat now stretching toward the weekend, their focus has shifted to the safety of the people drawn to the gardens, particularly tourists unfamiliar with the mental and physical toll of the steamy conditions. “This heat is a different animal,” said Robin Krchak, the gardens’ executive director, who now closes online ticket sales at noon to encourage visitors to come in the relative cool of the mornings. The few employees and volunteers who keep the gardens humming are arriving earlier or cutting their workloads short to avoid heatstroke and heat stress.

Persons: ”, Robin Krchak

☆ Pokemon Go maker Niantic lays off 230 employees, cancels games
▼ + stars: | 2023-06-29 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Pokemon Go players are seen in search of Pokemon and other in-game items in the Pasadena Playhouse District. Niantic, a mobile games developer based in San Francisco, announced Thursday that it would lay off 230 employees as part of a reorganization. It will also shutter a Los Angeles-based studio, where most of the affected employees are based. The move highlights how the mobile games industry has shifted in the years since Niantic landed its first major hit, Pokemon Go, in 2016. Overall, App Store spending on games declined 5% in 2020 to $110 billion, according to an estimate from Data.ai, a research firm.

Persons: John Hanke, Niantic, Hanke, Pokémon Organizations: Pasadena Playhouse, Marvel, Apple, Google, Meta, Quest Locations: Pasadena, San Francisco, Angeles, Silicon

☆ This new $250 Nokia smartphone can be self-repaired and comes with 5G
▼ + stars: | 2023-06-28 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The new Nokia G42 smartphone comes with reparability features and 5G connectivity. HMD Global, the company that makes Nokia-branded smartphones, on Wednesday launched a new smartphone that can be repaired by users when parts get damaged. The purple device can be repaired by customers using parts provided by iFixit, the repair advocacy organization. HMD Global didn't provide details on U.S. availability. The launch furthers a push by HMD Global into reparability as it looks to tempt people to buy new phones.

Persons: HMD Organizations: Nokia, Wednesday, iFixit, HMD Global, Mobile World Congress Locations: reparability, Barcelona

☆ Chinese payment giants revive effort to accept foreign credit cards
▼ + stars: | 2023-06-28 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

HONG KONG, June 28 (Reuters) - Chinese tech giants Tencent Holdings (0700.HK) and Ant Group said that they would allow users to link international credit cards to their platforms, an issue that has long plagued foreign visitors as the country’s payment system has kept credit cards out for years. Foreign visitors often find themselves unable to pay for things in China where many shops and restaurants now only accept mobile payment rather than credit cards or cash. Tencent and Ant had formed partnerships with Visa and Mastercard in 2019 to make foreign cards usable on their platforms. Under the new setup, international travelers can set up their foreign cards on these apps with a few simple steps. While China’s mobile payment networks have been closed off to foreign-issued credit cards, domestically issued credit cards under Visa and Mastercard have long been supported.

Persons: Alipay, Ant, ” Tencent, Josh Ye, Kim Coghill Organizations: Tencent Holdings, HK, Ant Group, Visa Inc, Mastercard, Ant, Visa, Overseas, Thomson Locations: HONG KONG, China, ecommerce, Hong Kong, Macau

☆ Microsoft says it looked at acquiring Zynga but opted to go bigger with Activision
▼ + stars: | 2023-06-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Zynga was originally for the Facebook hit social game FarmVille, before eventually expanding into mobile games, largely through acquisitions. Prior to the Microsoft offer, Activision met with a financial firm to work on topping Take-Two's purchase of Zynga, CNBC reported at the time. Spencer didn't say when Microsoft was in talks with Zynga, and the company wouldn't provide further comment. Spencer said that after the company went to Zynga, he worked with Microsoft finance chief Amy Hood to look for mobile opportunities. Activision grew its portfolio of mobile games with the 2016 acquisition of King, publisher of Candy Crush Saga.

Persons: Phil Spencer, Justin Sullivan, Spencer, Spencer didn't, Tencent, Amy Hood, King, Candy Organizations: FRANCISCO, Microsoft, Activision, FTC, Activision Blizzard, Zynga, Federal Trade Commission, Facebook, FarmVille, CNBC, Sony, Apple Locations: CALIFORNIA, San Francisco , California, San Francisco

☆ How to Shop Amazon Prime Day 2023 Deals, According to an Insider
▼ + stars: | 2023-06-22 | by ( Nick Guy | ) www.wsj.com time to read: +4 min

By Nick GuyAmazon just announced Prime Day 2023, its first big sales event of the year, will take place on July 11 and 12. Check out my top tips below and follow us on Twitter, Instagram and Facebook, where our staff will be highlighting the best Prime Day deals. During Prime Day you can simply check out without having to browse and hunt down all your items. Pay with your Amazon credit cardThe Amazon Prime Rewards Visa Signature credit card offers hard-to-beat cash back rewards for die-hard Amazon Prime shoppers, and even products discounted for Prime Day are eligible for the rewards. Compare sales on other sitesAlthough Amazon is the progenitor of Prime Day, it’s not the only company offering up deals around this time.

Persons: Nick Guy Amazon, I’ve, we’re, ”, You’ll, you’re, it’s Organizations: Twitter, Facebook, Amazon, Prime, Whole Foods, Walmart, Target

☆ Bitcoin rallies 10% to highest level in over a month as traders get bullish on ETF news
▼ + stars: | 2023-06-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Bitcoin rose to its highest level in more than a month on Wednesday, as traders got excited about the prospects of a spot bitcoin ETF following a series of recent applications from companies including BlackRock . The price of bitcoin jumped 10% to $29,405.22 at about 11 a.m. ET, the highest point since May 6, according to CoinGecko data, extending gains from earlier in the day. Investors are growing bullish about the prospects of BlackRock and other major institutional names getting involved in digital assets. "The slate of spot bitcoin ETF application announcements by larger institutions has definitely brought back bullishness into the crypto markets," Vijay Ayyar, head of international markets at CoinDCX, India's largest crypto exchange, told CNBC.

Persons: Bitcoin, bitcoin, Vijay Ayyar, Ayyar Organizations: Mobile, CNBC, BTC Locations: Barcelona, Spain, BlackRock, CoinDCX

☆ Intel stock drops 6% as company updates chip manufacturing plans
▼ + stars: | 2023-06-21 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Intel CEO Pat Gelsinger speaks during the Mobileye Global Inc. IPO at the Nasdaq MarketSite in New York on Oct. 26, 2022. Intel stock dropped 6% on Wednesday after the company gave investors an update on the company's turnaround plan to become a chip manufacturing company competing with Taiwan Semiconductor Manufacturing Company. Intel plans to use its own chips to work out problems in its manufacturing before opening up the factories to third-party companies. "The manufacturing group will now face the same market dynamics as their foundry counterparts," Zinsner told analysts. Wednesday's update was focused on how Intel would use its manufacturing capabilities for its own chips.

Persons: Pat Gelsinger, David Zinsner, Zinsner Organizations: Inc, Nasdaq, Mobileye, Intel Corp, Intel, Taiwan Semiconductor Manufacturing Company, Apple, Nvidia, Qualcomm, Samsung, IMS, Bain Capital, AMD Locations: New York, Austrian

☆ Telecoms firm Veon to invest $600 mln in mobile unit Kyivstar
▼ + stars: | 2023-06-21 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

LONDON, June 21 (Reuters) - Telecoms company Veon (VON.AS) said on Wednesday it would invest $600 million in the infrastructure of its Ukrainian subsidiary Kyivstar, the war-ravaged country's largest mobile network. The Amsterdam-listed company said the funds would help upgrade the mobile operator's infrastructure, including improving connectivity and 4G services throughout Ukraine. The country has seen much of its mobile infrastructure hit by Russian rocket attacks. Kyivstar's technical teams have performed nearly 150,000 repairs since Russia invaded last year, Veon said, adding it ensured that 93% of the network is operational. Kyivstar has lost around 7% of its active customer base - or roughly 1.7 million subscribers - since the war started last February.

Persons: Veon, Oleksandr Komarov, Kyivstar, Komarov, Aleksander Torbakhov, Olivier Sorgho, Clarence Fernandez, Sherry Jacob, Phillips, Sharon Singleton Organizations: Reuters, Thomson Locations: Amsterdam, Ukraine, Russian, Russia, London

☆ Stellantis, Foxconn form 50-50 JV on semiconductors for auto industry
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Stellantis is seen on a company's building in Velizy-Villacoublay near Paris, France, February 23, 2022. REUTERS/Gonzalo Fuentes/File PhotoMILAN, June 20 (Reuters) - Carmaker Stellantis (STLAM.MI) and iPhone assembler Foxconn (2317.TW) have created a 50-50 joint venture to design and sell semiconductors for the automotive industry from 2026. The joint venture, called SiliconAuto, will supply Stellantis, including its new 'STLA Brain' electronic and software architecture, Foxconn and other customers, the two companies said in a statement. The deal, for which no financial details were provided, follows a preliminary agreement that Stellantis and Foxconn signed in December 2021 to partner in semiconductors for the automotive industry. Separately, Stellantis and Foxconn already have the Mobile Drive joint venture to develop in-car and connected-car technologies for the auto industry.

Persons: Gonzalo Fuentes, MILAN, Foxconn, Stellantis, Ned Curic, SiliconAuto, Giulio Piovaccari, Keith Weir Organizations: REUTERS, Fiat, Peugeot, Thomson Locations: Velizy, Villacoublay, Paris, France, Netherlands

☆ Who is Alibaba's new CEO Eddie Wu and chairman Joe Tsai?
▼ + stars: | 2023-06-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Eddie Yongming Wu will step in as CEO, while Joe Tsai will take over as chairman on Sept. 10. Eddie Wu, incoming CEOEddie Wu is one of the co-founders of Alibaba, who first served it as a technology director back in 1999. Joe Tsai, incoming chairmanAnother co-founder of Alibaba, Joe Tsai was appointed as the company chief financial officer until 2013 and currently serves as executive vice chairman. He is also the chairman of Alibaba's logistics unit Cainiao, as well as a member of the Taobao and Tmall division. Joe Tsai will take up the role of chairman at Alibaba after current chairman and CEO Daniel Zhang steps down.

Persons: BABA BABA, Daniel Zhang, Eddie Yongming Wu, Joe Tsai, Jack Ma, Eddie Wu, Alibaba, Wu, Eddie Wu's, shouldn't, Jacob Cooke, Cooke, Jp Yim, Tsai, Lazada, Michael Evans Organizations: Alibaba, Ant Group, CNBC, Getty, Brooklyn Nets Locations: China, U.S, Lazada, Europe, Singapore, Asia

☆ Bitcoin hits new high for June as more financial incumbents signal commitment to crypto
▼ + stars: | 2023-06-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The application came a week after the Securities and Exchange Commission sued two of the biggest crypto exchanges, Binance and Coinbase. The price of bitcoin climbed on Monday as financial institutions continued to give their bitcoin blessing. Then Tuesday morning, a new crypto exchange backed by financial giants Charles Schwab, Fidelity Digital Assets and Citadel Securities announced that it has been live for several weeks trading bitcoin and ether. Many financial incumbents are keen to show enthusiasm for blockchain technology and the ways it can advance old financial infrastructure. Bitcoin has struggled to break out of a narrow trading range this quarter but has yet to fall meaningfully under $25,000.

Persons: Bitcoin, bitcoin, Charles Schwab Organizations: Mobile, BlackRock, U.S, Securities and Exchange Commission, Metrics, Fidelity Digital Assets, Citadel Securities, Fidelity Locations: Barcelona, Spain

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