Technology - CybAI news

07 Aug

Warner Bros. Takes $9.1 Billion Writedown on TV Networks

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Warner Bros. Discovery Inc., the parent of CNN and TNT, posted a second-quarter charge of $9.1 billion after writing down the value of its traditional TV networks.The company, created in 2022 when Discovery Inc. acquired WarnerMedia, has concluded that cable channels like CNN and TNT are no longer worth what they were when the $42 billion merger was completed. Source link lol

07 Aug

Nextdoor Projects Improved Revenue Growth Amid Product Overhaul

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Nextdoor Holdings Inc. reported second-quarter revenue that beat analysts’ estimates and projected stronger-than-expected sales growth, pointing to improvements in the company’s advertising technology as a key driver of sales. Chief Executive Officer Nirav Tolia also announced plans for a “complete transformation” of Nextdoor’s core social network to increase usage and turn the neighborhood-focused platform into a service that people are drawn toward daily, not just for key life moments. Source link lol

07 Aug

Shares of Bumble Tank Following Poor Annual Revenue Outlook

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Shares of Bumble Inc. plunged after the dating-app company slashed its annual revenue outlook. Annual revenue will grow between 1% and 2% from the previous year. The company had previously forecast growth between 8% and 11%. Wall Street was expecting an 8.4% gain, per Bloomberg-compiled estimates. Source link lol

07 Aug

Rich Barton Departs as Zillow CEO, Passing Reins to Top Deputy

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Zillow Group Inc. Chief Executive Officer Rich Barton is stepping down from the top job at the home listings company for the second time — with his latest tenure defined by a ill-fated attempt to reinvent the company, and more recently, his efforts to grow the business despite a historically sluggish housing market. Jeremy Wacksman, a longtime Zillow executive who was chief operating officer, was named to the position, according to a statement Wednesday. Barton will become co-executive chair, a title he will share with co-founder Lloyd Frink. Source link lol

07 Aug

Byju’s US Judge Rejects Effort to Stop Payment to India Cricket

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A US judge refused to block a debt payment designed to free Byju’s from an insolvency case in India, telling American lenders to take their complaints about the transaction to a court in the home country of the educational tech firm.US Bankruptcy Judge Brendan Shannon rejected a lender request to block Riju Ravindran, brother of Byju’s founder, from paying more than $19 million to India’s governing board for cricket. A deal to clear the debt enabled Byju’s to win dismissal of an insolvency case in front of a judicial tribunal in India. Source link lol

07 Aug

CIBC Plans Hiring Spree in Artificial Intelligence, Data Jobs

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Canadian Imperial Bank of Commerce plans to hire more than 200 employees in data and artificial intelligence over the next year as it expands its use of generative AI.The country’s fifth-largest bank has carried out a number of pilot programs using generative AI and is adding staff in Canada to accelerate those efforts, Christina Kramer, the bank’s head of technology and innovation, said in a statementBloomberg Terminal. Source link lol

07 Aug

Lumen Technologies Debt Rallies After Stock Jump, AI Demand

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Lumen Technologies Inc. debt rallied alongside a meteoric rise in the company’s stock after it announced higher demand for its services as a result of the artificial intelligence boom. The telecommunications company’s 4% bond maturing in 2027 rose 7.5 points on Tuesday to 72 cents on the dollar, according to Trace bond trading data. Notes tied to its Level 3 unit due 2028 jumped 10.5 points to 67.5 cents on the dollar the same day. Source link lol

07 Aug

T-Mobile Postpones $561 Million Wireless Equipment ABS Offering

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T-Mobile US Inc. is postponing its sale of more than $500 million in asset backed securities supported by wireless equipment plans, according to people familiar with the matter.The deal, which began premarketingBloomberg Terminal last week, was set to price this week, according to an earlier message to investors. T-Mobile’s postponement marks the first notable indication of stress in the ABS market following elevated volatility this week. A maelstrom of economic indicators showing slowing growth, weak earnings from technology companies and a rate hike from the Bank of Japan damaged broader markets and caused Wall Street’s fear gauge to spikeBloomberg Terminal…

07 Aug

Airbnb Gives Soft Outlook on ‘Signs of Slowing Demand’ From US

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Airbnb Inc. shares plunged by the most ever after the company issued yet another disappointing outlook and warned of slowing demand from US vacationers.Bookings rose 8.7% in the second quarter to 125.1 million, falling well below analysts’ estimates. And Airbnb saidBloomberg Terminal it expects “sequential moderation” of growth in bookings in the third quarter, too, signaling that results will disappoint analysts who had projected an 11% gain amid the peak summer travel season. Source link lol

07 Aug

UK Regulator Tells Online Services to ‘Act Now’ to Stop Riots

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The UK telecommunications regulator urgedBloomberg Terminal online service providers to take action to stop customers from using their platforms to incite violence, even though Ofcom’s new rules with stronger requirements to police online content aren’t yet in effect. “In a few months, new safety duties under the Online Safety Act will be in place, but you can act now – there is no need to wait to make your sites and apps safer for users,” said Gill Whitehead, Ofcom’s director for online safety, in a letter posted to the regulator’s website on Wednesday. Source link lol