Latest news with #TNBTechMinute
Wall Street Journal
02-05-2025
- Business
- Wall Street Journal
TNB Tech Minute: Temu Stops Shipping to U.S. - Tech News Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Victoria Craig: Here's your TNB Tech Minute for Friday, May 2nd. I'm Victoria Craig for the Wall Street Journal. Chinese bargain site Temu says it's no longer shipping products directly to customers in the US, a dramatic shift in its business model. It comes as the US ended its longstanding de minimus provision today, that was a trade exemption that let overseas packages valued at $800 or less arrive duty free. A spokesperson from Temu said the shipping changes are, quote, part of Temu's ongoing adjustments to improve service levels. Staying with China, the country's popular social video app, TikTok has been fined $600 million by Ireland's privacy watchdog. It said the company failed to guarantee user data sent to China was protected from government surveillance under Chinese laws governing espionage and cybersecurity. That is a blow to TikTok's efforts to convince Western countries, including the US, that the app is safe to use. The company vowed to appeal the fine and said the decision covers a period of time before it put new protections in place. It also denied that it turns user data over to the Chinese government and it said it hasn't received requests for it to do so. And finally, the maker of Grand Theft Auto issued an apology for delaying the release of the game's next installment, but investors aren't accepting it. Shares of Take-Two Interactive fell 6.7% today after the company's Rockstar Entertainment subsidiary confirmed its hotly anticipated Grand Theft Auto VI will now drop a year from now rather than this fall. One analyst said the delay is consistent with the company's track record of putting product quality over hitting deadlines. For a deeper dive into what's happening in tech, check out Monday's Tech News Briefing podcast.
Wall Street Journal
01-05-2025
- Business
- Wall Street Journal
TNB Tech Minute: Apple, Amazon Beat Sales Forecasts - Tech News Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Victoria Craig: Here's your TNB Tech Minute for Thursday, May 1st. I'm Victoria Craig for the Wall Street Journal. After the bell this afternoon, Apple said sales last quarter jumped 5% to $95 billion as demand surged due to uncertainty around President Trump's tariff policy and the release of the lower-end iPhone 16e model. Apple also said a majority of its devices shipped into the U.S. in the June quarter will originate in India and Vietnam. It's a move to allay investor concerns about how tariffs would crimp the company's profits. The results come a day after a federal judge threw the book at Apple for "willfully choosing not to comply with a 2021 court ruling". It required the company to allow users to use alternative payment methods for services and subscriptions outside the App Store. The judge also took the unusual step of referring the matter to federal prosecutors for a criminal contempt investigation. An Apple spokeswoman said the company would comply with the order, but that it disagrees with the decision and will appeal. Also on the earnings front, Amazon reported strong results that were not affected by new U.S. tariffs on Chinese imports, but the company did add tariffs and trade policies to the list of factors that subject its forward-looking statements to substantial uncertainty. The E-commerce giant said revenue jumped 9% last quarter, and that it booked a profit of $17.1 billion. Both results topped Wall Street expectations. Meanwhile, Amazon this week also said it plans to put $4 billion toward expanding its delivery network in small American towns. The company estimates 100,000 new jobs will come as a result. By next year, Amazon expects the size of that network to triple, which it says will cut delivery times for rural customers in half. Finally, the Journal's exclusive reporting reveals that about a month ago, Tesla's board got serious about looking for a successor for founder and CEO Elon Musk. People familiar with the discussion said board members reached out to several executive search firms to work on a process for finding the company's next leader. It came amid a steep fall in Tesla's shares since Musk turned his focus to DOGE and embarked on a cost-cutting spree for the Trump administration. Last week after the company said its quarterly profit plunged more than 70%, Musk told investors he'd pivot his focus back to Tesla. Following publication of our story, Tesla issued a denial and said the board is "highly confident" in Elon Musk and his "ability to continue executing on the exciting growth plan ahead". For a deeper dive into what's happening in tech, check out Friday's Tech News Briefing podcast.
Wall Street Journal
30-04-2025
- Business
- Wall Street Journal
TNB Tech Minute: Meta, Microsoft Post Strong Revenue Growth - Tech News Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Speaker 1: Here's your TNB Tech Minute for Wednesday, April 30th. I'm Victoria Craig for the Wall Street Journal. After the closing bell on Wall Street, Microsoft said it registered 13% revenue growth last quarter with all of its main business units beating expectations. Profit meanwhile rose nearly 18% from a year earlier. The results sent shares solidly higher in after-hours trading. CEO, Satya Nadella, said Microsoft's results were boosted by continued demand for AI and cloud computing. Check out tomorrow's Tech News Briefing podcast where we'll take a deeper look at Microsoft's push to grow its cloud business in Europe and the geopolitical tensions that could threaten it. Also on the earnings front, Meta notched a 16% jump in sales last quarter, beating Wall Street forecasts. It said it expects revenue growth would remain steady in the current quarter, quashing worries that the Trump administration's latest tariffs will dent the company's global ad business. Meta relies on that advertising revenue to fund a plan for up to $65 billion in AI ambitions as it tries to take on giants in the space like OpenAI's ChatGPT. Earlier today, Meta rolled out a standalone app for its Meta AI chatbot, which it hopes will clock 1 billion users by the end of the year. And finally, Chinese e-commerce giant, Alibaba, rolled out a rapid delivery option to its shopping platform today. Customers can buy a range of things like food, apparel and footwear under a new Instant Commerce tab, and get their goods in less than an hour. A person familiar with the matter told The Journal the option is expected to roll out across China next week. The feature is seen as Alibaba's latest attempt to set up its super fast delivery options as it faces stiff competition from rivals like For a deeper dive into what's happening in tech, check out Thursday's Tech News Briefing podcast.
Wall Street Journal
15-04-2025
- Business
- Wall Street Journal
TNB Tech Minute: Japan Accuses Google of Being Anticompetitive - Tech News Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Victoria Craig: Here's your TNB Tech Minute for Tuesday, April 15th. I'm Victoria Craig for the Wall Street Journal. Japan's antitrust regulator has ordered Google to stop what it says are monopolistic practices in mobile search. It's a first of its kind directive from Japan's Fair Trade Commission to a U.S. tech giant. The regulator said, since 2020, Google has prevented competition by pre-installing its own search platforms on the home screens of Android devices. Google said it's disappointed by the findings and believes its agreements with Japanese providers have boosted competition. But it said it would review the regulator's decision to determine its next steps. Elsewhere, some of America's biggest banks are pulling back on sending information electronically to their regulator. People familiar with the matter say that's due to ongoing security concerns after the Office of the Comptroller of the Currency said it's investigating a recent email hack. JPMorgan Chase, Bank of America and Bank of New York Mellon are looking at other ways to send sensitive information. The OCC posted on its website a notice about the hack in February, but people familiar with the situation said some of the banks only learned about the incident from media reports and are still largely in the dark about what information may have been disclosed to hackers. And finally, Johnson & Johnson says it expects President Trump's tariffs primarily on the company's medical technology products to add roughly $400 million to its costs this year. The healthcare giant's CEO said his company will work with the administration to prevent potential disruptions to its supply chain, but he said the best way to increase the supply of U.S.-made MedTech and pharmaceuticals is through tax policy rather than tariffs. For a deeper dive into what's happening in tech, check out Wednesday's Tech News Briefing podcast.
Wall Street Journal
14-04-2025
- Business
- Wall Street Journal
TNB Tech Minute: Meta Faces Off With FTC at Antitrust Trial - Tech News Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Victoria Craig: Here's your TNB Tech Minute for Monday, April 14th. I'm Victoria Craig for the Wall Street Journal. A rollback of tariffs on the tech sector sent the Nasdaq higher today. Shares of hardware makers like Apple and Micron were boosted by an exemption from sweeping U.S. tariffs on smartphones, computers, and memory chips that the Trump administration quietly announced over the weekend. The relief might be short-lived though. President Trump declared on his Truth Social platform that "Nobody is getting off the hook". And the Commerce Secretary said separate levies will begin in a couple of months as part of an investigation and into the semiconductor trade as it pertains to national security. Meanwhile, Nvidia raised the Made in America flag today as it seeks to shield itself from the impact of those looming chip tariffs. The company says it will make its artificial intelligence supercomputers entirely in the U.S. To do it, the company has commissioned more than a million square feet of manufacturing space dedicated to producing and testing its Blackwell chips in Arizona and supercomputers in Texas. Nvidia has set a goal of producing up to $500 billion worth of AI infrastructure in America within the next four years. And finally, Meta and the Federal Trade Commission made their opening statements in a long-simmering antitrust dispute today. The trial could result in a forced breakup that would see Meta sell off Whatsapp and Instagram. That's because the FTC alleges Meta has an illegal monopoly on social media. Meta though says that's a fundamental misunderstanding about how people use social media. The company says its platforms face sizable competition from places like YouTube and TikTok. The trial in Washington is scheduled to last for the next eight weeks. For a deeper dive into what's happening in tech, check out Tuesday's Tech News Briefing podcast.
