Key PointsAlphabet revenues beat expectations at $38.94 billionShares of parent company rose more than 9% after the company second-quarter earnings that beat estimates Thursday.Alphabet said its board of directors approved a repurchase of up to an additional $25 billion of its Class C capital stock. On a call with analysts, CFO Ruth Porat said the capital would be used to support growth and acquisitions and investments.Here are the key numbers:Alphabet beat analysts' expectations on revenue and EPS and had even lower traffic acquisition costs (TAC) than analysts were hoping for. The metric...…Key PointsAlphabet revenues beat expectations at $38.94 billionShares of parent company rose more than 9% after the company second-quarter earnings that beat estimates Thursday.Alphabet said its board of directors approved a repurchase of up to an additional $25 billion of its Class C capital stock. On a call with analysts, CFO Ruth Porat said the capital would be used to support growth and acquisitions and investments.Here are the key numbers:Alphabet beat analysts' expectations on revenue and EPS and had even lower traffic acquisition costs (TAC) than analysts were hoping for. The metric...WW…

Key PointsInstagram chief Adam Mosseri said on Sunday he doesn't want Breitbart to be part of new journalism tab, but defended the company's choice to include it.a day agoMosseri, who has run Facebook-owned Instagram since October of last year, initially responded to a tweet from New York Times opinion writer Charlie Warzel, who shared an he wrote analyzing Facebook's inclusion of the far right news outlet in its . Breitbart, which was previously run by President Donald Trump's former advisor Steve Bannon, has been accused of , both in and on Twitter. This is in part why Mosseri was...…Key PointsInstagram chief Adam Mosseri said on Sunday he doesn't want Breitbart to be part of new journalism tab, but defended the company's choice to include it.a day agoMosseri, who has run Facebook-owned Instagram since October of last year, initially responded to a tweet from New York Times opinion writer Charlie Warzel, who shared an he wrote analyzing Facebook's inclusion of the far right news outlet in its . Breitbart, which was previously run by President Donald Trump's former advisor Steve Bannon, has been accused of , both in and on Twitter. This is in part why Mosseri was...WW…

Key Points and have both drawn their lines in the sand on political advertising ⁠— or rather, they've removed the lines altogether.Taking an approach of all () or nothing (), the CEOs of both companies have championed how their decisions will uphold a true and fair democracy. Political ads make up such a tiny fraction of their revenues, both CEOs have said, that this is a matter of principle, not profit.But here's the subtext:Political advertising matters much less to Twitter than Facebook because political advertisers already leaned much more heavily on Facebook to get their messages out....…Key Points and have both drawn their lines in the sand on political advertising ⁠— or rather, they've removed the lines altogether.Taking an approach of all () or nothing (), the CEOs of both companies have championed how their decisions will uphold a true and fair democracy. Political ads make up such a tiny fraction of their revenues, both CEOs have said, that this is a matter of principle, not profit.But here's the subtext:Political advertising matters much less to Twitter than Facebook because political advertisers already leaned much more heavily on Facebook to get their messages out....WW…

Key PointsIn this articleLyft announces it will sell self-driving unit to Toyota for $550M will sell its self-driving car unit to Woven Planet, a subsidiary of , for $550 million in cash, the companies Monday.Shares of Lyft rose more than 2% after hours.As part of the deal, Lyft and Woven Planet will work together on enhancing automated driving technology safety, according to a release."Not only will this transaction allow Lyft to focus on advancing our leading Autonomous platform and transportation network, this partnership will help pull in our profitability timeline," Lyft Co-Founder and...…Key PointsIn this articleLyft announces it will sell self-driving unit to Toyota for $550M will sell its self-driving car unit to Woven Planet, a subsidiary of , for $550 million in cash, the companies Monday.Shares of Lyft rose more than 2% after hours.As part of the deal, Lyft and Woven Planet will work together on enhancing automated driving technology safety, according to a release."Not only will this transaction allow Lyft to focus on advancing our leading Autonomous platform and transportation network, this partnership will help pull in our profitability timeline," Lyft Co-Founder and...WW…

Key PointsIn this articleChief executives from companies including parent , , and are set to participate in a White House virtual summit on Monday addressing the global semiconductor shortage.The summit comes as the Biden administration , including those for semiconductors, high-capacity batteries, medical supplies and rare earth metals. The shortage of computer chips has implications for a range of industries, from producers of electric vehicles to medical supplies.Automobile manufacturers like GM and recently had to cut production estimates or extend downtime to deal with the shortage....…Key PointsIn this articleChief executives from companies including parent , , and are set to participate in a White House virtual summit on Monday addressing the global semiconductor shortage.The summit comes as the Biden administration , including those for semiconductors, high-capacity batteries, medical supplies and rare earth metals. The shortage of computer chips has implications for a range of industries, from producers of electric vehicles to medical supplies.Automobile manufacturers like GM and recently had to cut production estimates or extend downtime to deal with the shortage....WW…

Key Points may suspend services in California if the state does not overturn a recent ruling requiring it to classify its drivers as full-time employees, Lyft co-founder and President John Zimmer said on the company's second-quarter earnings call. Shares of Lyft were as high as 6% after hours, but went negative when Zimmer said Lyft might suspend service in the state. would also likely pause its service in California if the ruling is not overturned, in an MSNBC interview Wednesday. Khosrowshahi said a suspension would likely last until November when voters would decide on the...…Key Points may suspend services in California if the state does not overturn a recent ruling requiring it to classify its drivers as full-time employees, Lyft co-founder and President John Zimmer said on the company's second-quarter earnings call. Shares of Lyft were as high as 6% after hours, but went negative when Zimmer said Lyft might suspend service in the state. would also likely pause its service in California if the ruling is not overturned, in an MSNBC interview Wednesday. Khosrowshahi said a suspension would likely last until November when voters would decide on the...WW…

Key PointsTwitch, the -owned video streaming platform primarily used by gamers to livestream their games, announced a new policy Wednesday empowering the company to take action against users who display certain harmful behaviors entirely offline.The policy represents a unique approach among social media peers at a time when the industry has been under escalating pressure to institute strong and consistent content-moderation policies. As lawmakers on both sides of the aisle have threatened to strip online platforms of their liability protections under , many platforms have taken steps to...…Key PointsTwitch, the -owned video streaming platform primarily used by gamers to livestream their games, announced a new policy Wednesday empowering the company to take action against users who display certain harmful behaviors entirely offline.The policy represents a unique approach among social media peers at a time when the industry has been under escalating pressure to institute strong and consistent content-moderation policies. As lawmakers on both sides of the aisle have threatened to strip online platforms of their liability protections under , many platforms have taken steps to...WW…

Key PointsLina Khan, the noted tech critic whose examination of the antitrust case against sparked a reckoning among enforcers, is President 's pick to become a commissioner at the Federal Trade Commission, the White House announced Monday.If confirmed, Khan would get to vote on important cases involving antitrust and consumer protection at the FTC. That could include a decision on whether to bring an antitrust lawsuit against Amazon, which it has reportedly been investigating, as well as whether to block acquisitions by large companies.The selection has already been roundly cheered by...…Key PointsLina Khan, the noted tech critic whose examination of the antitrust case against sparked a reckoning among enforcers, is President 's pick to become a commissioner at the Federal Trade Commission, the White House announced Monday.If confirmed, Khan would get to vote on important cases involving antitrust and consumer protection at the FTC. That could include a decision on whether to bring an antitrust lawsuit against Amazon, which it has reportedly been investigating, as well as whether to block acquisitions by large companies.The selection has already been roundly cheered by...WW…

Key PointsIn this article is recalling 2.5 million hotspot devices after discovering that the lithium ion battery can overheat, creating a fire and burning hazard.The recall impacts Ellipsis Jetpack mobile hotspots imported by Franklin Wireless Corp and sold between April 2017 and March 2021. The affected models are labeled: MHS900L, MHS900LS and MHS900LPP. Verizon the recall Thursday alongside a (CPSC).A Verizon spokesperson said just over 1 million of the recalled devices are currently in use, meaning currently or recently used by customers.According to the recall notice posted by the...…Key PointsIn this article is recalling 2.5 million hotspot devices after discovering that the lithium ion battery can overheat, creating a fire and burning hazard.The recall impacts Ellipsis Jetpack mobile hotspots imported by Franklin Wireless Corp and sold between April 2017 and March 2021. The affected models are labeled: MHS900L, MHS900LS and MHS900LPP. Verizon the recall Thursday alongside a (CPSC).A Verizon spokesperson said just over 1 million of the recalled devices are currently in use, meaning currently or recently used by customers.According to the recall notice posted by the...WW…