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Google parent Alphabet hits $2tn valuation as it announces first dividend

Tech company’s shares rise as it plans to reward investors after strong quarterly results Google’s parent company has hit a stock market value of $2tn (£1.6tn) as investors reacted to a declaration of its first ever dividend alongside strong results on Thursday. Shares in Alphabet rose 10% in early Wall Street trading on Friday to …

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Why Elon Musk is right – once-booming electric car sales are starting to stall

EV sales have plateaued across the world but the newfound glut of vehicles may just be temporary Elon Musk became the world’s richest man by evangelising about electric cars – and delivering them by the million. Yet in recent months his company, Tesla, has struggled to maintain its momentum: sales have dropped this year, and …

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Snapchat parent company sees shares surge as improved ad system pays off

Snap’s share surged 21% in after-hours trading as app’s users increased by 422 million, bringing in $1.2bn in revenue Shares in the owner of Snapchat surged 21% during after-hours trading after the social media group beat Wall Street’s expectations for quarterly revenue and user growth. Improvements to Snap’s advertising system are delivering results faster than …

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X pushes back at order to hide Sydney church stabbing footage as US user reposts video

Elon Musk’s X says it opposes demands from Australia’s eSafety commissioner that it remove the content globally Follow our Australia news live blog for latest updates Get our morning and afternoon news emails, free app or daily news podcast Social media platform X says it has complied with Australian federal court orders to remove footage …

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ByteDance would shut down TikTok in US rather than sell it, sources say

App’s ‘secret source’ algorithm reportedly core to operations of parent company, which sources say make a sale highly unlikely ByteDance would prefer to shut down TikTok rather than sell it if the Chinese company exhausts all legal options to fight legislation to ban the platform from app stores in the US, four sources said. The …

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Microsoft’s heavy bet on AI pays off as it beats expectations in second quarter

World’s largest public company reports $61.86bn revenue after investing billions into artificial intelligence Profits at Microsoft beat Wall Street’s expectations as its heavy bets on artificial intelligence and gaming continued to bear fruit in the second quarter. The technology giant has invested billions of dollars into AI in a bid to turbocharge its growth. Continue …

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Alphabet revenue rises amid AI push and staff turmoil

Company beat Wall Street expectations and posted a revenue of $80.5bn, up 15% since last year, after internal and external unrest Google’s push to integrate artificial intelligence into all of its offerings – both consumer-facing products like Google Docs and enterprise products – is boosting investors’ confidence. Google’s parent company, Alphabet, reported earnings that exceeded …

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Meta value falls $190bn as investors react to plan to increase spending on AI

Shares slumped 15% after Mark Zuckerberg said AI spending would have to grow before Meta could make much revenue from products Business live – latest updates Shares in Meta slumped 15% when Wall Street opened on Thursday, wiping about $190bn off the value of the Facebook and Instagram parent company, as investors reacted to a …

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