GM says it will seek reimbursement from LG Chem for $1B Chevy Bolt recall losses Tech and Gaming Blog Technology by Rebecca Bellan - August 24, 20210 American automaker General Motors expanded its recall of Chevrolet Bolt electric vehicles on Friday due to fire risks from battery manufacturing defects. The automaker said it would seek reimbursement from LG Chem, its battery cell manufacturing partner, for what it expects to be $1 billion worth of losses. Following the news
How Uber plans to rebound from massive Q2 losses stemming from driver incentives Tech and Gaming Blog Technology by Rebecca Bellan - August 6, 20210 Uber’s second-quarter earnings revealed greater than expected losses, in large part due to the company’s massive $250 million stimulus package launched in April to incentivize drivers back onto the app after a pandemic-induced shortage. The company reported a loss of $509 million before EBITDA. For comparison, Lyft reported a positive adjusted
Lyft reaches adjusted profitability milestone despite continuing net losses Tech and Gaming Blog Technology by Kirsten Korosec - August 4, 20210 Today after the bell, U.S. ride-hailing company Lyft reported its second quarter financial performance. In aggregate the company’s performance was a rebound from the year-ago second quarter, which was heavily impacted by the onset of the COVID-19 pandemic and resulting lockdowns in the United States. Lyft also managed to produce positive
Alphabet crushes Q2 earnings estimates as Google Cloud cuts losses, grows 54% Tech and Gaming Blog Technology by Alex Wilhelm - July 28, 20210 Today after the bell amidst a deluge of major technology company earnings reports, Alphabet reported its own second-quarter performance. The search-and-services company posted revenues of $61.9 billion in the June 30, 2021 quarter, net income of $18.5 billion, and earnings per share of $27.26. Those figures work out to top-line
Alphabet crushes Q2 earnings estimates as Google Cloud cuts losses, grows 54% Cyber Security by Alex Wilhelm - July 27, 20210 Today after the bell amidst a deluge of major technology company earnings reports, Alphabet reported its own second-quarter performance. The search-and-services company posted revenues of $61.9 billion in the June 30, 2021 quarter, net income of $18.5 billion, and earnings per share of $27.26. Those figures work out to top
Average losses from compromised cloud accounts is more than $500,000 a year Data Breach by Steve Zurier - May 26, 20210 Average total annual financial loss for companies from compromised cloud accounts is more than $500,000, according to new research. (Sean Gallup/Getty Images) Average total annual financial loss for companies from compromised cloud accounts is more than $500,000, according to new research. The findings came from a survey of 600 IT and
FBI: Cybercrime skyrocketed in 2020, with email compromise scams accounting for 43% of losses Data Breach by Joe Uchill - March 19, 20210 The FBI’s Internet Crime Complaint Center (IC3) released its annual report Wednesday, showing a sharp increase in cybercrime, both in quantity and cost in 2020. Over the course of the year, the IC3 logged 791,000 complaints, more than a third of the total complaints over the past five years and a
SolarWinds lawsuits merge as stockholders begin documenting financial losses Data Breach by Derek B. Johnson - March 16, 20210 A judge approved the merger of three separate class action lawsuits filed against SolarWinds over the 2020 hack. (““SolarWinds letters” by sfoskett is licensed under CC BY-NC-SA 2.0) A judge approved the merger of three separate class action lawsuits filed against SolarWinds over a 2020 hack and named a New York City pension fund as
SolarWinds lawsuits merge as stockholders begin documenting financial losses Data Breach by Derek B. Johnson - March 13, 20210 A judge approved the merger of three separate class action lawsuits filed against SolarWinds over the 2020 hack. (““SolarWinds letters” by sfoskett is licensed under CC BY-NC-SA 2.0) A judge approved the merger of three separate class action lawsuits filed against SolarWinds over a 2020 hack and named a New York City pension fund as
Kaltura files to go public on the back of accelerating revenue growth, rising losses Tech and Gaming Blog Technology by Alex Wilhelm - March 2, 20210 Kaltura, a software company focused on providing video technology to other concerns, has filed to go public. The Kaltura S-1 filing only partially surprised. TechCrunch previously covered the company as part of our ongoing $100 million ARR series focusing on private companies that have reached material scale. (TechCrunch has also covered