Assassin’s Creed Publisher Could See Tencent Take The Reigns

Assassin's Creed Publisher Could See Tencent Take The Reigns

Image: Ubisoft Tencent appears to be doubling down on its investment in Ubisoft. While it already owns 5 percent of the Assassin’s Creed editor, Reuters now reports the Chinese mega-conglomerate with huge investments throughout the gaming industry has its sights set on becoming Ubisoft’s single biggest shareholder. Its plan for achieving that? Pay double what … Read more

Uber’s business is booming even with high gas prices and inflation

Uber's business is booming even with high gas prices and inflation

CNN — Even higher gas prices and soaring inflation aren’t slowing down Uber’s rebound from the worst days of the pandemic. Uber (UBER) on Tuesday said its revenue hit $8.1 billion during the three months ending in June, more than doubling from the year prior as more customers turn to the ride-hailing service. The number … Read more

Alibaba stock slides in Hong Kong after US delisting threat

Alibaba stock slides in Hong Kong after US delisting threat

hong kong CNN Business — Alibaba shares fell after US regulators added the stock to a growing list of Chinese firms that might be kicked off Wall Street if US auditors can’t inspect their financial statements. Alibaba (BABA) slid as much as 6% in Hong Kong on Monday morning, but then pared losses to 3.8% … Read more

The Proposed EV Tax Credit Extension Has Some Caveats

The Proposed EV Tax Credit Extension Has Some Caveats

Photo: Steve DaSilva The Senate’s proposed EV tax credit extension makes some new demands, Ford owners are suing Ford again, and Bentley’s doing gangbusters. All that and more in The Morning Shift for Friday, July 29, 2022. 1st Gear: EV Tax Credits May Come Back, But At What Cost? This week, Senate Majority Leader Chuck … Read more

ExxonMobil scores enormous profit on record gas prices

ExxonMobil scores enormous profit on record gas prices

New York CNN Business — ExxonMobil and Chevron both reported record massive profits thanks to record gasoline prices during the quarter. Exxon’s profit, excluding special items, came to $17.6 billion in the second quarter, nearly double what it made in its very profitable first quarter as oil and gas prices started to soar in the … Read more

Facebook Tries Buying App, Gets Sued For Over VR Monopoly

Facebook Tries Buying App, Gets Sued For Over VR Monopoly

Image: Within It’s been a very bad year so far for Meta, the company formerly known as Facebook, in ways extremely unique to being one of the biggest tech companies in the world. Despite still making almost $7 billion in profit in recent months, TikTok is eating its lunch, the stock price is in shambles, … Read more

Instead of fizzing out, the January 6 hearings are gaining momentum ahead of prime time testimony

Instead of fizzing out, the January 6 hearings are gaining momentum ahead of prime time testimony

New York CNN Business — A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. This summer’s hearings by the House’s January 6 select committee have been building momentum – and audience interest – in the run-up to Thursday’s prime time session. One might have … Read more