Tech

In this articleGOOGLThe Google logo is seen January 8, 2020 at the 2020 Consumer Electronics Show (CES) in Las Vegas, Nevada.ROBYN BECK /AFPAlphabet’s market capitalization of over $1.5 trillion makes it one of the most valuable publicly traded companies in the world, trailing only Apple, Microsoft and Amazon.Created in 2015, Alphabet is essentially a holding company for Google, which generates nearly all of its revenue and profit. Google has always portrayed itself as a tech company and has invested in many far-reaching areas of technology — such as internet search, mobile phones, artificial intelligence, self-driving cars and health technology. Its conference for software developers, Google I/O, which kicks off Tuesday, typically intersperses deep tech talk with far-reaching visions of the future.But Google’s main business is online advertising. In 2020, Alphabet generated almost $183 billion in revenue. Of that, $147 billion — over 80% — came from Google’s ads business, according to the company’s 2020 annual report. Google has been the market leader in online advertising for well over a decade and is expected to command nearly a 29% share of digital ad spending globally in 2021, according to eMarketer. Number-two Facebook is expected to capture less than 24%, while Alibaba is

In this photo illustration, a bitcoin logo is seen displayed on an Android smartphone with a hacker in the background.Miguel Candela | SOPA Images | LightRocket via Getty ImagesLONDON — DarkSide, the hacker group behind the recent Colonial Pipeline ransomware attack, received a total of $90 million in bitcoin ransom payments before shutting down last week, according to fresh research.Colonial Pipeline was hit with a devastating cyberattack earlier this month that forced the company to shut down approximately 5,500 miles of pipeline, crippling gas delivery systems in southeastern states. The FBI blamed the attack on DarkSide, a cybercriminal gang believed to be based in Eastern Europe, and Colonial reportedly paid a $5 million ransom to the group. DarkSide operates what’s known as a “ransomware as a service” business model, meaning the hackers develop and market ransomware tools and sell them to other criminals who then carry out attacks. Ransomware is a type of malicious software that’s designed to block access to a computer system. Hackers demand a ransom payment — typically cryptocurrency — in return for restoring access.On Friday, London-based blockchain analytics firm Elliptic said it had identified the bitcoin wallet used by DarkSide to collect ransom payments from its victims.

In this articleAAPLApple iMac M1 2021Todd Haselton | CNBCApple just gave the iMac its the first major redesign since 2012, and I’ve been testing one out for a week.It’s insanely thin. Like the 1999 iMac, it ships in a bunch of colors. But most notably, this the first time Apple’s all-in-one desktop computer is using the same M1 chip as the iPad, following the MacBook Air, MacBook Pro and Mac Mini, which received the processor last year.It’s a heck of a time to launch a new Mac. Apple’s Mac sales have continued to grow through the pandemic and were up 70% year over year in its fiscal Q2 as people worked, learned and played at home. That growth may slow as people continue to get vaccinated and head back to our commutes (and our clunky work-issued computers), but the iMac is so nice it may help push Mac sales for people who still need a computer at home.Here’s what you need to know about it.What’s goodSource: Apple Inc.The iMac is just crazy, crazy thin. It’s sort of like a giant iPad with a big bottom chin sitting on a metal stand. It’s also surprisingly light, which means you can easily

LONDON — Starting from June 7, Londoners will officially be allowed to whizz around on an electric kick scooter.City transport regulators said Tuesday that a handful of e-scooter rental firms had been selected to run trials in the U.K. capital next month.The operators include U.S. start-up Lime, German firm Tier and Dutch rival Dott, Transport for London (TfL) said. The pilot will last for 12 months.Areas covered by the trials include Ealing, Canary Wharf, the City of London, Hammersmith and Fulham, Kensington and Chelsea, and Richmond upon Thames.Riders will be able to travel through — but not start or end trips in — Tower Hamlets. The London boroughs of Lambeth and Southwark are also looking to participate in the trials.Rental pricing will be set individually by the operators and has not yet been confirmed.Post-lockdown travelThe British government first announced plans to speed up the rollout of e-scooter rental trials across the country last year.The move was viewed as part of a wider effort to get Brits out and about again post-lockdown with electric bikes and scooters, using a healthier and environmentally-friendly alternative to cars and public transport.In the U.K., the electric kick scooter is classified as a PLEV, or Personal

In this articleTSLATesla CEO Elon Musk speaks at a delivery ceremony for Tesla China-made Model 3 in Shanghai, east China, Jan. 7, 2020.Ding Ting | Xinhua News Agency | Getty ImagesTesla’s reliance on so-called regulatory credits to make money has been thrust back into the spotlight after a regulatory filing revealed investor Michael Burry took a $534 million bet against the electric carmaker.Burry, who was depicted in Michael Lewis’ book “The Big Short,” has a short position on the company — betting that Tesla shares will fall.In a now-deleted tweet, the famous hedge fund manager said Tesla’s reliance on regulatory credits to generate profits is a red flag.Tesla raked in $518 million in revenue from sales of regulatory credits in the first quarter of the year, helping the U.S. electric vehicle maker post another quarter of profit.What are regulatory credits? How do they work?In a push to reduce carbon emissions, governments around the world have introduced incentives for automakers to develop electric vehicles or very low-carbon emitting cars. Credits are given to carmakers that build and sell environmentally friendly vehicles.In the U.S., California and at least 13 other states have rules surrounding regulatory credits. They require auto manufacturers to produce

Southeast Asia’s start-up scene is presenting increased investment potential as the pandemic has shifted dynamics for the long-term, one of the region’s leading venture capital firms said.Despite its “devastating” impact, the downturn has provided “a lot of opportunity” for new start-ups in the region, Roderick Purwana, managing partner at Indonesia-based East Ventures, told CNBC Monday, noting that he has seen many new businesses formed during this period.In particular, new businesses related to digital adoption, including education technology, health technology and financial technology, have been a real success story, he said.With any crisis, it brings also opportunity. We’ve seen that not just in this part of the world.Roderick Purwanamanaging partner, East Ventures”With any crisis, it brings also opportunity. We’ve seen that not just in this part of the world,” Purwana told “Street Signs Asia.””We’ve seen some of the largest or most successful start-ups or tech companies are founded during this time,” he said citing previous historic downturns such as the dot-com bust and 2008 Financial Crisis. “I think this one (will be) no different.”Purwana’s comments come as Southeast Asia’s start-ups have been gaining ground on the global stage.On Monday, Indonesian ride-hailing giant Gojek announced that it had merged with e-commerce

In this articleAMZNAn Amazon-sponsored billboard urging employees to return their unionization ballots is seen on March 28, 2021 in Bessemer, Alabama.Elijah Nouvelage | Getty ImagesDave Clark, CEO of Amazon’s worldwide consumer business and a top lieutenant of Jeff Bezos, supported an effort to install a mailbox at the site of an Alabama warehouse during a recent high-stakes union election, according to documents presented Monday during a labor board hearing.The National Labor Relations Board started holding hearings last week to review objections to a failed unionization drive that wrapped up last month at Amazon’s warehouse in Bessemer, Alabama. Bessemer employees overwhelmingly rejected unionization, with fewer than 30% of the votes tallied in favor of joining the Retail, Wholesale and Department Store Union.The installation of a mailbox outside the Bessemer facility has emerged as a key detail in the RWDSU’s argument that the NLRB should throw out the results of the election. Amazon has contended that it installed the mailbox to make voting easy for employees, while the union alleges that the mailbox may have created the impression of surveillance and sowed confusion among employees by suggesting that the company was involved in collecting and counting votes.On Monday, the RWDSU presented emails during

In this articleCMCSABrian Roberts, Chairman and CEO of ComcastDavid A. Grogan | CNBCShares of Comcast closed down 5.5% on Monday after AT&T announced a deal to combine its content unit WarnerMedia with Discovery to form a new media giant.The new media company, which could be worth well over $100 billion, will compete against other players that have invested heavily in streaming, including Comcast’s NBCUniversal, Netflix and Disney. Netflix stock closed down nearly 1%, while Disney shed more than 2%.Executives said the two companies already spend a combined $20 billion per year on content, including programming for their linear networks, which is comparable to Netflix’s projected estimate of $17 billion spent this year.The deal also could put pressure on Comcast’s internet business. By shedding its media assets, AT&T can focus on its core connectivity business, touting the power of 5G. AT&T Chief Executive John Stankey said in a call with reporters Monday that he plans to focus his company’s capital on fiber infrastructure to improve AT&T’s 5G network, which could compete against Comcast as a home broadband alternative.”Connectivity demand is higher than ever,” an AT&T spokesperson told CNBC earlier Monday. “Especially connectivity with symmetrical upload and download speeds. This transaction allows

In this articleTSLAMichael Burry attends the “The Big Short” New York premiere at Ziegfeld Theater on November 23, 2015 in New York City.Jim Spellman | WireImage | Getty ImagesFamed investor Michael Burry on Monday revealed a short position against Tesla worth more than half a billion, in a regulatory filing.Burry, one of the first investors to call and profit from the subprime mortgage crisis, is long puts against 800,100 shares of Tesla or $534 million by the end of the first quarter, according to the filing with the U.S. Securities and Exchange Commission. Investors profit from puts when the underlying securities fall in prices. As of March 31, Burry owned 8,001 put contracts, with unknown value, strike price, or expiry, according to the filing.Shares of Tesla fell more than 4% on Monday, bringing its month-to-date losses to more than 20%.Burry, whose firm is Scion Asset Management, shot to fame by betting against mortgage securities before the 2008 crisis. Burry was depicted in Michael Lewis’ book “The Big Short” and the subsequent Oscar-winning movie of the same name.Tesla has had a turbulent 2021 amid slumping sales in China in April, and parts shortages that have impeded production both in the U.S.

Discovery CEO David Zaslav told CNBC on Monday he thinks the new company created out of a merger with AT&T’s WarnerMedia could eventually attract 400 million global streaming video subscribers.Zaslav, a media executive with decades of experience, said the two are collectively a quarter of the way there already. He was tapped to lead the combined firm.”We own the full ecosystem,” Zaslav said on “Squawk on the Street.” “Netflix is a great company. Disney is a great company, but we have a portfolio of content that is very diverse and broadly appealing.””We think it could be [up to] 400 million homes over the long-term,” added Zaslav — who, prior to Discovery, had a long tenure at NBC where he was instrumental in launching CNBC.Asked whether such a lofty prediction was a realistic goal, Zaslav said: “There’s billions of people out there that we could reach in the market.”Here’s a rundown of the streaming landscape:Netflix has nearly 208 million global subscribers, according to its latest quarterly earnings release.Last week, Disney said Disney+ ended the fiscal second quarter with 103.6 million subscribers and doubled down on its plans to reach between 230 million and 260 million subscribers by 2024.Disney also reported that