california

Traders Hope Alphabet’s Pixel Event Can Stem $360 Billion Rout
13 Aug

Traders Hope Alphabet’s Pixel Event Can Stem $360 Billion Rout

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Alphabet Inc. investors are anxiously awaiting a Google hardware event on Tuesday — banking on new AI features to help stop a selloff that’s wiped out more than $360 billion in market value in just one month.Google is unveiling one of the biggest redesigns of its Pixel phones in their nearly decade-long history at an event starting at 10 a.m. in Mountain View, California. While the devices are usually an afterthought for investors because of their small revenue contribution relative to Google’s digital advertising business, expectations are high that new AI capabilities could demonstrate leadership in the highly competitive arena.…
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Ex-Twitter Chairman Sues Elon Musk’s X for $20 Million in Shares
10 Aug

Ex-Twitter Chairman Sues Elon Musk’s X for $20 Million in Shares

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Former Twitter Chairman Omid Kordestani sued the social media company, claiming that billionaire owner Elon Musk is refusing to cash out more than $20 million worth of shares he is owed.Kordestani served as the company’s executive chairman from 2015 to 2020 and stayed on the board for two more years, until Musk bought the platform for $44 billion. He said in the complaint that the bulk of his compensation was stock, which he says Musk is refusing to pay out. Source link lol
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Intel Scraps Innovation Expo as Cash-Strapped Company Makes Cuts
09 Aug

Intel Scraps Innovation Expo as Cash-Strapped Company Makes Cuts

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Intel Corp., which is cutting jobs and costs to preserve its shrinking cash pile, postponed an Innovation event that had been scheduled for next month in San Jose, California. The chipmaker plans to focus on other gatherings, such as webinars, hackathons and the Intel AI Summit, in lieu of the Innovation conference, the company said Friday in an emailed statement. Source link lol
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California Supreme Court upholds classification of gig workers as independent contractors
26 Jul

California Supreme Court upholds classification of gig workers as independent contractors

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Ride-share companies scored a victory in the California Supreme Court, allowing them to continue classifying gig workers as independent contractors rather than employees. Uber, Lyft, DoorDash and other gig-economy companies invested around $200 million in the passage of Proposition 22, which voters approved in 2020. The state’s highest court rejected a legal challenge from a drivers’ group and a labor union, ending their quest to bring full employee benefits to the state’s gig workers.The California Supreme Court ruling affirms the state’s definition of drivers and other gig workers as independent contractors. Proposition 22, which received the support of 59 percent…
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Microsoft agrees to $14 million California pay discrimination settlement
04 Jul

Microsoft agrees to $14 million California pay discrimination settlement

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Microsoft is set to pay $14.4 million to resolve a case alleging retaliatory and discriminatory practices against California workers who took protected leave, such as family care, parental, disability and pregnancy leave. The Civil Rights Department of California (CRD) launched an investigation into Microsoft in 2020, looking into whether the tech giant violated laws such as California's Fair Employment and Housing Act and the Americans with Disabilities Act. The proposed agreement is subject to court approval.CRD claimed that workers who took protected leave "received lower bonuses and unfavorable performance reviews that, in turn, harmed their eligibility for merit increases, stock…
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Snap will pay $15 million to settle California lawsuit alleging sexual discrimination
22 Jun

Snap will pay $15 million to settle California lawsuit alleging sexual discrimination

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The California Civil Rights Department has revealed that Snap Inc. has agreed to pay $15 million to settle the lawsuit it filed "over alleged discrimination, harassment, and retaliation against women at the company." California's civil rights agency started investigating the company behind Snapchat over three years ago due to claims that it discriminated and retaliated against female employees. The agency accused the company of failing the make sure that female employees were paid equally despite a period of rapid growth between 2015 to 2022.Women, especially those in engineering roles, were allegedly discouraged to apply for promotions and lost them to…
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California Governor Gavin Newsom wants to restrict phone use in schools
19 Jun

California Governor Gavin Newsom wants to restrict phone use in schools

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Gavin Newsom, the governor of California, has issued a statement in support of efforts aiming to restrict the use of smartphones in schools within the state. As The New York Times reports, the governor aired his stance merely hours before board members at the Los Angeles Unified School District voted to pass a proposal for a school phone ban. Newsom said he will work with lawmakers "to restrict the use of smartphones during the school day" this summer, because children and teens "should be focused on their studies — not their screens."The governor also mentioned and agreed with the US…
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