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Spotify Technology SA witnessed a surge in its shares, marking the most significant intraday gain in nearly two years. The renowned audio-streaming behemoth reported a first-quarter profit, buoyed by a substantial increase in subscribers and the introduction of new features. According to a statement released by the Swedish company on Tuesday, the number of paid subscribers surged by an impressive…

Google has not just weathered the storm but emerged stronger than ever. The tech giant, celebrating its 25th year, has officially reached a market capitalization of $2 trillion, marking a significant milestone in its history. The past year has seen Google undergoing substantial transformations. In response to the seismic shifts brought about by AI, Google has revamped its search algorithms,…

Tesla's profits took a significant hit in the first quarter of 2024, dropping 55% compared to the same period last year. The company's revenue of $21.3 billion fell short of analysts' expectations, marking a 9% decrease from the first quarter of 2023. Tesla's ambitious EV strategy appears to be facing headwinds from an unexpected source—hybrid vehicles. Increasing Pressure from Hybrid…

Huawei has emerged as a dominant force in China's smartphone market while Apple grapples with significant losses. According to a report by Counterpoint Research, iPhone sales plummeted by over 19% in the first quarter of 2024, contrasting sharply with Huawei's staggering 69.7% growth during the same period. This remarkable performance by Huawei can be largely attributed to the successful launch…

Samsung Group has announced an emergency measure: executives will now work six days a week. This move, effective immediately, is a response to various factors including currency depreciation, rising oil prices, and increased borrowing costs. The decision was made following lower-than-expected results from several of the conglomerate's major businesses in 2023. According to Samsung Group officials, executives at Samsung Electronics…

Apple has announced a significant shift in its policy regarding iOS app distribution within the European Union. The tech giant has unveiled plans to allow developers to offer their iPhone apps for direct download from their own websites, marking a departure from its traditional stronghold over app distribution through the App Store. A Paradigm Shift in iOS Ecosystem This decision…

The first quarter of 2024 witnessed a rebound in the global smartphone market, according to a report by IDC. However, amidst this resurgence, Apple Inc. faced its most significant decline in iPhone shipments since the Covid-19 pandemic outbreak, particularly in the crucial Chinese market. Apple's iPhone shipments experienced a sharp decline of 10 percent in the March quarter, totaling 50.1…

BlackRock, the world's largest asset manager, reported a record $10.5 trillion in assets under management (AUM) for the first quarter of the year. The firm also announced a staggering 36% increase in profit, propelled by the upward trajectory of global equity markets, which bolstered its investment advisory and administration fees. The first quarter saw a remarkable rally in global stock…

Pavel Durov, the visionary founder of Telegram, announced a significant milestone for the messaging platform: achieving positive cash flow in the first quarter of this year. With a buoyant outlook, Durov anticipates Telegram will mark its first profitable year by the end of 2024. In an exclusive interview with the Financial Times, Durov disclosed Telegram's robust financial position, buoyed by…

Apple Inc. has set its sights on the future with a venture into home robotics, marking a potential shift in its product lineup, according to insiders familiar with the matter. Engineers at Apple have been quietly working on prototypes of a mobile robot designed to navigate households autonomously, as well as a cutting-edge table-top device featuring robotic capabilities to manipulate…