Connect with us

Tech

Antitrust lawsuit dismissal leaps Facebook into exclusive trillion club

Published

on

A U.S judge has dismissed two antitrust lawsuits against facebook and the company’s share price has stormed to record highs as a result.

Facebook has now joined the ranks of companies valued at over a trillion dollars.

HANOVER, GERMANY – JUNE 12: The Instagram and Facebook logos are displayed at the 2018 CeBIT technology trade fair on June 12, 2018 in Hanover, Germany. The 2018 CeBIT is running from June 11-15. (Photo by Alexander Koerner/Getty Images)
What happened with the anti-trust lawsuit?

In what’s being described as a significant setback to the US government’s efforts to rein in the major tech companies, the two lawsuits were filed by the Federal Trade Commission and another by a coalition of US states.

The Judge in the federal district court in Washington said the agency’s lawsuit was “legally insufficient”

The Judge added that he found the FTC had “failed to plead enough facts to plausibly establish” that the tech giant has monopoly power over the market

The FTC will have 30 days to file a new complaint.

As of today’s market close in the U.S, the company’s market cap is sitting at $1 trillion dollars according to Yahoo Finance.

It’s the first time in history Facebook has hit this high mark…

Some of the most notable of Facebook’s divisions are the Facebook site itself, along with Messenger, as well as Instagram, WhatsApp, and Oculus.

On the list of US tech companies that have passed the $1 trillion mark, Facebook is the only one founded in the 2000s, making it the newest.

Business

Germany recalls Tesla models due to emergency fault

Published

on

Tesla is in the spotlight again, with Germany’s road traffic agency recalling models Y and 3 due to a fault in the automatic emergency call system

It’s a fault that could possibly impact around 59,000 vehicles globally.

Germany’s watchdog says a software flaw is causing a breakdown of the e-Call, a system designed to alert authorities after a serious accident.

The glitch follows the company delivered almost 18 per cent fewer electric vehicles in the second quarter than in the previous.

This is largely due to China’s Covid-19-related shutdowns and the ongoing supply chain crunch.

Meanwhile, CEO Elon Musk says Tesla’s new factories in both Texas and Berlin are “losing billions of dollars”.

Continue Reading

Tech

TICKER NEWS is available on podcast apps

Published

on

For the first time, TICKER NEWS is now available on podcast apps, allowing you to hear the latest news, plus special programs

TICKER NEWS is now available as a podcast.

You can catch up on the latest news, or programs devoted to special topics including U.S. politics and TICKER AIR.

TICKER CEO Ahron Young says:

“TICKER always puts the story first. Video is in our DNA, but we want TICKER content to be available however our audience wants to enjoy it.”

“We are putting significant resources into TICKER content to make sure we get to the heart of the stories we cover.”

TICKER AIR is one of the podcasts available from TICKER

The first podcast to air is TICKER AIR, cohosted by Ahron Young and Geoffrey Thomas from Airlineratings.com

Every day, two full world news bulletins will be available, as well as three special documentary programs.

TICKER podcasts are available daily on Apple Podcasts, Spotify and Google Podcasts. Just search TICKER NEWS to subscribe.

APPLE PODCAST – https://podcasts.apple.com/au/podcast/ticker-news/id1632145760

SPOTIFY – https://open.spotify.com/show/3iidnXUXPDVWG2QMEhN0Kt?si=e2e195a8ee584fa6

Continue Reading

Business

Big tech stocks tumble amid market uncertainty

Published

on

Big tech companies are struggling in the markets this quarter as interest rates rise to battle inflation

Russia’s invasion of Ukraine has devalued tech stocks causing further supply chain disruptions and sending the broad S&P 500 index down about 5 per cent.

Rising interest rates triggered more severe plummets with the S&P dropping another 16 per cent and the Nasdaq Composite index by 22 per cent.

Tesla’s stock took a huge hit sinking to nearly 38 per cent its largest decline since 2010.

Amazon saw similar results falling by 35 per cent the most in over 20 years.

Continue Reading

Trending on Ticker

Copyright © 2022 The Ticker Company PTY LTD