World news

Amazon hikes base salary for its employees to $350,000

February 08, 2022 08:51 PM AEDT| By Priyanka Payal

Highlights Amazon Inc. announces its decision to more than double the maximum base salary it pays to its employees to US$350,000. In its fourth-quarter results announced last week, Amazon revealed that its net sales increased 9% to US$137.....

Meta (FB) builds shield after avatars ‘harass’ proxies in metaverse

February 08, 2022 10:09 AM AEDT| By Team Kalkine Media

Highlights Some users have faced harassment on Meta’s Horizon network, its virtual reality platform. The protective function will be turned on by default. Meta Platforms had opened its virtual reality platform to the public in North Am.....

Frontier Group (ULCC) to acquire Spirit Airlines for US$6.6 billion

February 08, 2022 06:35 AM AEDT| By Rupam Roy

The Colorado-based airline holding company, Frontier Group Holdings, Inc (NASDAQ: ULCC), is acquiring its rival Spirit Airlines Inc. (NYSE: SAVE) for US$6.6 billion in a cash-and-stock deal. The purchase is expected to help Frontier compete with l.....

Can Fed rate hikes impact emerging markets?

February 06, 2022 12:52 AM AEDT| By Ashish

Highlights Kristalina Georgieva, managing director of the IMF, recently said interest rate hikes by the Fed could have an impact on global recovery. She feared that escalated interest rates in the US could make repayment costlier for econom.....

Volvo, Northvolt to build US$3.3-bn battery gigafactory in Sweden

February 05, 2022 11:27 AM AEDT| By Rupam Roy

Highlights The plant’s construction, which includes an R&D center, will begin next year. The batteries for Volvo and Polestar models are expected to start in 2025. The new facility would create 50-gigawatt-hour (GWh) of battery c.....

S&P, Nasdaq rise after Amazon.com Inc (AMZN) earnings, jobs report

February 05, 2022 09:53 AM AEDT| By Team Kalkine Media

The S&P 500 index and Nasdaq Composite closed in the green, while Dow Jones marginally declined on Friday, February 4, after Amazon’s strong earnings and positive jobs report. The S&P 500 rose 0.52% to 4,500.53. The Dow Jones fel...

Is Meta Platforms’ (FB) US$250-bn loss biggest wipeout in US history?

February 05, 2022 06:58 AM AEDT| By Versha Jain

Highlights Meta Platforms, Inc. (FB) lost around US$250 billion in market value in a single day. The Dow Jones US Technology Total Stock Market Index’s total YTD decline widened to 10.97% after the stock rout. Meta&.....

Snap Inc (NYSE: SNAP) nixes iPhone privacy fears - answer to Meta woes?

February 05, 2022 03:58 AM AEDT| By Rupam Roy

Highlights Snap Inc forecasts revenue of US$1.03 billion to US$1.08 billion in Q1, FY22. It expects daily active users to be in the range of 328 million to 330 million. The company reported its first positive net income since its IPO in March .....

Amazon (AMZN) rides Rivian stake to US$14.3-bn profit, raises membership fees

February 04, 2022 11:38 AM AEDT| By Sanjeeb Baruah

Amazon.com Inc (AMZN) on Thursday posted a fourth-quarter profit of US$14.3 billion, boosted by a pre-tax gain from its stake in electric vehicle maker Rivian Automotive. The stock rose as much as 15% in the after-market hours after dipping nearly.....

US stocks close in red after Meta (FB) rout, Zuckerberg loses US$29 bn

February 04, 2022 10:00 AM AEDT| By Versha Jain

Benchmark US indices closed in the red on Thursday, February 3, after Mark Zuckerberg-led Meta Platforms, Inc lost roughly US$200 billion in market value in a massive stock rout. Shares of other tech companies, such as Amazon.com, Google, and Spotif...

What is NFT? How to create and sell?

February 04, 2022 04:14 AM AEDT| By Versha Jain

Non-fungible tokens (NFT) shot into the limelight after some of them were sold at eye-popping price tags, showing their enormous earning potential. For instance, Beeple sold an NFT titled "Everyday: The First 5000 Days" for an astounding US$.....

Jeff Bezos gets Dutch bridge dismantled to make way for his yacht

February 04, 2022 01:12 AM AEDT| By Sanjeeb Baruah

Amazon.com, Inc (AMZN) founder Jeff Bezos is bearing the cost of taking apart a historic Dutch bridge so his US$485-million superyacht can pass, it was revealed this week. Rotterdam officials agreed to dismantle the steel Koningshaven bridge that .....

Captain Cook’s Endeavour discovery sparks controversy

February 03, 2022 09:29 PM AEDT| By Sukriti Nair

Highlights Australian National Maritime Museum claims the discovery of Captain Cook's Endeavour. Endeavour's discovery sparks a row among Australian and US researchers. The principal investigator believes emotions or politics should not drive .....

Andrew “Twiggy” Forrest takes legal action against Facebook, here’s why

February 03, 2022 09:03 PM AEDT| By Ritwika

Highlights Facebook fails to take down fake and misleading cryptocurrency advertisements featuring Andrew Forrest from its platform. Forrest takes a stand for all general Australian citizens from falling prey to such scams. The case will be he.....

Canva buys UK-based Flourish to expand business

February 03, 2022 02:31 PM AEDT| By Sukriti Nair

Highlights Software firm Canva buys Flourish, a data visualisation software company in London. Canva to continue scaling the Flourish platform while integrating its visualisation tech. Canva is aiming to double its expansion in UK. Design.....

Queensland swelters under heatwave; power cut in over 23,000 homes

February 02, 2022 06:49 PM AEDT| By Priyanka Payal

Scorching heat and tropical humidity have taken a toll on Australian citizens, especially in Queensland. The gap between energy demand and supply has amplified the situation even further. Residents in Queensland have been asked to limit thei.....

Can McDonald's (MCD) influence food companies to enter metaverse?

February 02, 2022 01:27 AM AEDT| By Rupam Roy

Fast-food chain McDonald's Corporation is celebrating the Chinese Lunar New Year with a specially created Metaverse-themed VR exhibition inspired by Zodiac signs. McDonald's on Tuesday greeted the citizens with a metaverse-themed exhibition as the.....