While speaking at the Robin Hood Investors Conference on Tuesday, the billionaire activist investor Bill Ackman said SoftBank might have to write off its entire investment in WeWork, according to the Financial Times.
"I think WeWork has a pretty high probability of being a zero for the equity, as well as for the debt," Ackman said, according to the newspaper.
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Amazon is eliminating its fee for grocery delivery in the United States as competition heats up in the rapidly expanding food delivery business. Before today, Amazon charged Prime members a $14.99 monthly subscription fee for its Amazon Fresh online grocery delivery service. Two-hour Whole Foods deliveries were free for many Prime customers through Amazon's Prime Now delivery app.
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Apple's new Mac Pro has received FCC approval today ahead of its release later this year. Apple's website still says the new Mac Pro is "coming this fall," but FCC approval could signal an imminent announcement. The all-new Mac Pro is a powerhouse, with up to 28-core Intel Xeon processors, up to 1.5TB of ECC RAM, up to 4TB of SSD storage, and up to AMD Radeon Pro Vega II Duo graphics with 64GB of HBM2 memory. The computer also has eight PCIe expansion slots for maximum performance, expansion, and configurability.
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As the tech industry transforms into a hotbed of employee dissent, Facebook employees have remained on the sidelines. Are they finally having their moment?
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Amazon has yet to find the key to unlocking huge grocery sales. Now, the company is trying a new tack: free delivery for more people. On Tuesday the company announced free two-hour grocery delivery for Prime members in more than 20 major metropolitan areas. The changes eliminate what had been a monthly $14.99 fee for people shopping on Amazon Fresh, its online grocery service that delivers milk, eggs, seafood and other perishable products from its warehouses.
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Tiversa dominated an emerging online market—before it was accused of fraud, extortion, and manipulating the federal government.
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Spotify announced today that it beat expectations for third-quarter revenue and posted an operating profit of €54 million (about $60 million). This marks the third time in its history that the company has turned a profit, but one of those profits was the result of a tax windfall in 2018 that pushed it into the black.
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Alphabet, Google’s parent, said its profits fell after a sharp increase in spending for research and development.
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AT&T tries to make peace with investors after losing 5M subscribers since 2016.
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Apple's semi-secret automotive project, code-named Project Titan, might have been canceled earlier this year. Apple acknowledged in January that it had moved employees away from its autonomous-car project but said that it is still working on "autonomous systems and associated technologies."
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