Latest news with #Alphabet-owned
Time of India
a day ago
- Business
- Time of India
Microsoft unit in Russia to file for bankruptcy, database shows
One of Microsoft Corp's subsidiaries in Russia plans to file for bankruptcy, according to a note published on the official Fedresurs registry on Friday. Microsoft did not immediately respond to an emailed request for comment. President Vladimir Putin said this week that foreign service providers like Microsoft and Zoom should be "throttled" in Russia to make way for domestic software solutions. Microsoft continued providing key services in Russia after Moscow's February 2022 invasion of Ukraine, but in June 2022 it said it was significantly scaling down its operations due to changes to the economic outlook and the impact on its business there. The U.S. tech giant had already removed Russian state-owned media outlet RT's mobile apps from the Windows App store and banned advertisements on Russian state-sponsored media in the days after the invasion. The note posted on Fedresurs on Friday said that Microsoft Rus LLC was intending to declare bankruptcy. The TASS news agency reported that Microsoft has three other Russian units - Microsoft Development Centre Rus, Microsoft Mobile Rus and Microsoft Payments Rus. It was not immediately clear how those units might be affected. Alphabet-owned Google's Russian subsidiary filed for bankruptcy in 2022, saying that the seizure of its bank account by Russian authorities had made it untenable for its Russian office to function, including paying Russia-based employees, suppliers and vendors.
The Hindu
a day ago
- Business
- The Hindu
Microsoft unit in Russia to file for bankruptcy, database shows
One of Microsoft Corp's subsidiaries in Russia plans to file for bankruptcy, according to a note published on the official Fedresurs registry on Friday. Microsoft did not immediately respond to an emailed request for comment. President Vladimir Putin said this week that foreign service providers like Microsoft and Zoom should be "throttled" in Russia to make way for domestic software solutions. Microsoft continued providing key services in Russia after Moscow's February 2022 invasion of Ukraine, but in June 2022 it said it was significantly scaling down its operations due to changes to the economic outlook and the impact on its business there. The U.S. tech giant had already removed Russian state-owned media outlet RT's mobile apps from the Windows App store and banned advertisements on Russian state-sponsored media in the days after the invasion. The note posted on Fedresurs on Friday said that Microsoft Rus LLC was intending to declare bankruptcy. The TASS news agency reported that Microsoft has three other Russian units - Microsoft Development Centre Rus, Microsoft Mobile Rus and Microsoft Payments Rus. It was not immediately clear how those units might be affected. Alphabet-owned Google's Russian subsidiary filed for bankruptcy in 2022, saying that the seizure of its bank account by Russian authorities had made it untenable for its Russian office to function, including paying Russia-based employees, suppliers and vendors.
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Business Standard
2 days ago
- Business
- Business Standard
Microsoft's Russia unit to file for bankruptcy amid operational exit
One of Microsoft Corp's subsidiaries in Russia plans to file for bankruptcy, according to a note published on the official Fedresurs registry on Friday. Microsoft did not immediately respond to an emailed request for comment. President Vladimir Putin said this week that foreign service providers like Microsoft and Zoom should be "throttled" in Russia to make way for domestic software solutions. Microsoft continued providing key services in Russia after Moscow's February 2022 invasion of Ukraine, but in June 2022 it said it was significantly scaling down its operations due to changes to the economic outlook and the impact on its business there. The U.S. tech giant had already removed Russian state-owned media outlet RT's mobile apps from the Windows App store and banned advertisements on Russian state-sponsored media in the days after the invasion. The note posted on Fedresurs on Friday said that Microsoft Rus LLC was intending to declare bankruptcy. The TASS news agency reported that Microsoft has three other Russian units - Microsoft Development Centre Rus, Microsoft Mobile Rus and Microsoft Payments Rus. It was not immediately clear how those units might be affected. Alphabet-owned Google's Russian subsidiary filed for bankruptcy in 2022, saying that the seizure of its bank account by Russian authorities had made it untenable for its Russian office to function, including paying Russia-based employees, suppliers and vendors.
CNBC
2 days ago
- Automotive
- CNBC
Tesla shares set to wrap strong May as Elon Musk ends time with Trump's DOGE
Shares of the Elon Musk-led automaker Tesla have rallied in May despite recent poor car sales numbers for the company in China and Europe, as the billionaire CEO promised to focus more on his businesses than politics. Tesla shares are on track for an increase of more than 20% for the month. The stock is still down about 12% for the year. Apple is down about 21% year-to-date, the worst of all the megacaps. The bounceback in May comes as President Donald Trump marks the end of Musk's time as a "special government employee" at the helm of the Department of Government Efficiency. "This will be his last day, but not really, because he will, always, be with us, helping all the way," Trump wrote on Truth Social. "Elon is terrific!" Musk said on the most recent Tesla earnings call that his time spent running DOGE would drop significantly by the end of May, but that he plans to spend a "day or two per week" on government work until the end of Trump's term. Musk also planned to keep his office at the White House. The New York Times reported Friday that while Musk was campaigning for Trump last year, he had been taking drugs "well beyond occasional use" and was "facing an increasingly turbulent family life." The Times noted it was unclear if that habit carried over to his time in the White House, when he was also juggling Tesla and the other companies in his business empire — including SpaceX and X owner xAI, his artificial intelligence company. Tesla's European sales dropped by half, year-over-year for April. Tesla sales in China, another massive market for battery electric vehicles, were down by about 25% year over year in the first eight weeks of the current quarter. The carmaker has faced protests in reaction to Musk's ties with Trump, and his endorsement of Germany's far-right extremist party AfD. Pension fund leaders recently called out Tesla's board in a letter, demanding that they rein in Musk, and require him to work a minimum of 40 hours a week on Tesla to fix what they called the current "crisis." Musk and Tesla have tried to re-focus on the company's prospects in autonomous vehicle tech, humanoid robotics and artificial intelligence. Bloomberg reported this week that Tesla plans to launch its long-delayed and much anticipated autonomous vehicle ride-hailing service in Austin, Texas, on June 12th. Tesla has not confirmed that start date, but has been promising to launch a robotaxi ride-hailing service in Austin before the end of June. Musk told CNBC's David Faber in a recent interview that Tesla would start with a small fleet of Model Y Tesla vehicles equipped with the company's newest, Unsupervised Full Self Driving hardware and software. Musk has been promising investors a robotaxi vehicle for years, and the company has ceded ground to Waymo in the U.S. The Alphabet-owned robotaxi venture recently surpassed 10 million paid, driverless ridehailing trips. Shares of Tesla have also benefitted from the company's stronger position, relative to other U.S. automakers when it comes to weathering tariffs. Tesla operates two massive vehicle assembly plants domestically, one in Fremont, California and another in Austin, Texas, and has more North American-made parts in its cars than most of its competitors.
The Star
2 days ago
- Business
- The Star
Microsoft unit in Russia to file for bankruptcy, database shows
FILE PHOTO: A view shows a Microsoft logo at Microsoft offices in Issy-les-Moulineaux near Paris, France, March 21, 2025. REUTERS/Gonzalo Fuentes/File Photo (Reuters) -One of Microsoft Corp's subsidiaries in Russia plans to file for bankruptcy, according to a note published on the official Fedresurs registry on Friday. Microsoft did not immediately respond to an emailed request for comment. President Vladimir Putin said this week that foreign service providers like Microsoft and Zoom should be "throttled" in Russia to make way for domestic software solutions. Microsoft continued providing key services in Russia after Moscow's February 2022 invasion of Ukraine, but in June 2022 it said it was significantly scaling down its operations due to changes to the economic outlook and the impact on its business there. The U.S. tech giant had already removed Russian state-owned media outlet RT's mobile apps from the Windows App store and banned advertisements on Russian state-sponsored media in the days after the invasion. The note posted on Fedresurs on Friday said that Microsoft Rus LLC was intending to declare bankruptcy. The TASS news agency reported that Microsoft has three other Russian units - Microsoft Development Centre Rus, Microsoft Mobile Rus and Microsoft Payments Rus. It was not immediately clear how those units might be affected. Alphabet-owned Google's Russian subsidiary filed for bankruptcy in 2022, saying that the seizure of its bank account by Russian authorities had made it untenable for its Russian office to function, including paying Russia-based employees, suppliers and vendors. (Reporting by Alexander Marrow, Gleb Stolyarov and Maxim Rodionov; Editing by Susan Fenton)
