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SoftBank seen booking 75% first-quarter profit drop as it returns to profitability

TOKYO (Reuters) – SoftBank Group Corp (9984.T) is seen booking a 75% first-quarter profit plunge on Tuesday, albeit making a return to profitability, as the coronavirus outbreak continued to weigh on the tech bets of CEO Masayoshi Son’s $100 billion Vision Fund. The Japanese conglomerate is expected to record operating profit of 171 billion yen ($1.62 billion) for April-June, showed […]

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Facebook employees to work from home until July 2021 due to coronavirus outbreak; get $1,000 for home offices

(Reuters) – Facebook Inc (FB.O) will allow employees to work from home until July 2021 due to the coronavirus outbreak and will give them $1,000 for home office needs, a spokeswoman for the social media giant said on Thursday. The company joins other big technology firms that have taken similar steps recently. Late in July, Alphabet Inc’s (GOOGL.O) Google said […]

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Samsung Galaxy Unpack 2020 Introduces Five New Power Devices

Samsung held its Samsung Galaxy Unpack 2020 event online this year, unveiling five new premium devices, including the new Galaxy Note 20 and upgraded Note 20 Ultra, its Galaxy Tab S7 and S7+ tablets, The Galaxy Watch 3, newly designed Galaxy Buds Live, and the latest addition to the Galaxy Fold series, the Galaxy Z Fold 2. Samsung pushed heavy […]

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Uber rides demand eviscerated by COVID-19; food-delivery business doubles

(Reuters) – Uber Technologies Inc said demand for its food-delivery service more than doubled in the second quarter as many users remained largely homebound, while demand for ride-hailing trips was only marginally recovering from pandemic rock-bottom. The company said that despite those larger challenges it is sticking to its goal of being profitable on an adjusted basis before the end […]

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Fed's Brainard lays out central bank's instant payment framework

(Reuters) – Federal Reserve Governor Lael Brainard laid out the framework for the central bank’s instant payments system on Thursday, saying the Fed’s plans call for getting the system online as fast as possible. Brainard said the launch of the payments system is still expected in 2023 or 2024, but the Fed is prioritizing developing key aspects of the program […]

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Fed's Brainard lays out central bank's instant payment framework

(Reuters) – Federal Reserve Governor Lael Brainard laid out the framework for the central bank’s instant payments system on Thursday, saying the Fed’s plans call for getting the system online as fast as possible. Brainard said the launch of the payments system is still expected in 2023 or 2024, but the Fed is prioritizing developing key aspects of the program […]

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Bon Appétit Taps Sonia Chopra From Vox Media’s Eater as Executive Editor, as Three Video Stars Quit

The situation at Condé Nast’s Bon Appétit remains in flux, following the June ouster of editor-in-chief Adam Rapoport after allegations of racial discrimination at the food-media brand and a photo of Rapoport in brown-face circulated online. The media and publishing company announced that Sonia Chopra, former head of Vox Media’s Eater, is joining Bon Appétit as executive editor. Meanwhile, three […]

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