Technology

South Korea’s Chip Stockpile Jumps Amid Tech Slowdown Concerns

South Korea’s chip stockpiles increased by the most in more than four years, suggesting a slowdown in demand for memory chips used in electronics worldwide. The nationwide inventory jumped 53.4% in May from a year earlier, the statistics office said Thursday. An earlier 54.1% gain in March 2018 coincided with a slowdown in revenue growth […]

Technology

Video-Game Technology Maker Unity Software Is Cutting More Than 200 Jobs

Unity Software Inc., which makes the technology underpinning many popular video games, eliminated 4% of staff, adding to a procession of job cuts in the tech industry. The terminations amounted to more than 200 of the 5,900 or so employees of the San Francisco-based software company. The move was part of “a continued planning process” […]

Technology

Inside Didi’s $60 Billion Crash That Changed China Tech Forever

It was an unusually frigid December weekend when Cheng Wei summoned his inner circle to his Beijing office. The founder of Didi Global Inc., dressed entirely in black, told his lieutenants to slash spending by a fifth in 2022 and begin layoffs after staff return from Lunar New Year vacations. He delivered his bombshell flanked […]

Technology

Zilch Draws $50 Million More Funding to Buck BNPL Industry Woes

Buy-now-pay-later startup Zilch has raised a further $50 million, upping the total raise for its Series C fundraising to $160 million as it plans bolster US expansion plans. The London-based fintech, which allows users to pay for goods — including groceries — in installments, has now received total funding of more than $460m, according to […]

Technology

Dealmakers Buckle Up as Records Give Way to Ruptures in M&A

Six months on from their busiest-ever year, dealmakers are facing the reality that a slowdown in mergers and acquisitions may be more than a temporary blip. Global M&A values have fallen 17% year-on-year to $2.1 trillion, according to data compiled by Bloomberg. Rampant inflation, hawkish central banks, war in Ukraine and squeezed supply chains have […]

Technology

Amazon to Boost Football Coverage in UK With UEFA Deal

Amazon.com Inc. has secured rights to broadcast Europe’s top football tournament in the UK for the first time, in a significant step for the tech giant as it pushes deeper into sports. US-based Amazon will exclusively offer top UEFA Champions League matches on Tuesday nights for three years from the 2024/25 season, it said in […]

Technology

Twitter Hires New Partnerships Boss From NBCUniversal

Twitter Inc. has hired Maggie McLean Suniewick from NBCUniversal Media to be the company’s new vice president of partnerships, overseeing the teams in charge of global alliances, business development and developer relations. Suniewick was most recently president of distribution and business development for NBCU’s digital properties. She is credited with leading a number of the […]