McDonald’s has beaten profit estimates by attracting low-income customers

McDonald's reported Tuesday that U.S. customers are visiting its restaurants more frequently, helping the fast-food giant beat Wall Street estimates for fourth-quarter revenue and earnings. For the second quarter in a row, the company saw an increase in domestic traffic, contrary to the industry trend. Many consumers have cut back on restaurant spending in response to inflation. But McDonald's largely…

Microsoft users are facing a global cloud outage

Users faced a cloud failure Wednesday that affected several products, including Teams and Outlook. The U.S. technology giant has now canceled a network change that it believes is responsible for the glitch that left users around the world unable to access several Microsoft 365 services earlier Wednesday. The company also said that some of its previously affected customers are now…

Bitcoin falls again after big rise

Bitcoin BTCUSD -0.17% and other cryptocurrencies fell Thursday, falling along with the stock market as investors worry about the prospect of a recession . The big rally in digital assets last week, which had little fundamental support, will now be tested. The price of bitcoin has fallen 2% in the last 24 hours to below $20,800. The major cryptocurrency closed…

DeLorean to unveil Alpha 5

DeLorean has released fresh details and images of its Alpha 5 EV, an electric car with wings that company owners hope will resurrect the long-defunct brand and perhaps set the direction for new electric models. The company - and the EV - won't make a public appearance until later this summer at Monterey Auto Week. But the brand's owners, eager…

BMW plans to rely on electric vehicles

By 2030, at least half of BMW Group vehicles worldwide will be fully electric. This follows from the main presentation of the German car manufacturer at the Consumer Electronics Show in Las Vegas, where BMW Chairman of the Board of Directors Oliver Zips on Wednesday presented a vision of the future of BMW, which is based on three main characteristics:…

Microsoft is investing $10 billion in OpenAI, the company behind ChatGPT.

OpenAI will likely use the investment to develop and scale its software and improve Microsoft products and services.The move is a gamble for Microsoft because OpenAI will inevitably face competition in the fast-growing and highly competitive field of artificial intelligence.According to Semafor sources, when Microsoft gets its money back, the deal will go to an ownership structure. Under this structure,…

Chinese government agencies to buy gold shares in Alibaba and Tencent

Chinese government agencies intend to buy so-called "golden shares" in units of Alibaba Group Holding Ltd. and Tencent Holdings Ltd., suggesting that Beijing is seeking to ensure greater control over key players in the world's largest Internet arena. The debate comes as Beijing prepares to loosen its grip on the sector and overcome the harsh crackdown that has engulfed almost…

Tim Cook’s total compensation in 2022 will be $99.4 million.

Tim Cook, Apple's CEO, will cut his salary by more than 40 percent this year. According to the latest official announcement , Tim Cook's total compensation will be $99.4 million in 2022. His total salary was $13.4 million, including a $3 million salary, $83 million in stock and another $3.4 million in bonuses and incentives. Cook earned a total of…

Meta fined $414 million

The Irish Data Protection Commission found that Meta illegally required users to consent to personalized and targeted advertising.Meta will pay about $223 million for violating Facebook’s privacy policy and about $191 million for its actions on Instagram.Meta announced plans to appeal the decision, stating that it believed that its approach to data protection respected user privacy. Facebook and Instagram’s parent…

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