Technology

Lyft Inc on Wednesday posted higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable, saying ridership hit by the coronavirus pandemic had improved in late April.

A group of Senate Republicans is urging U.S. President Donald Trump to avoid hurting American chipmakers, which they see as essential to the coronavirus response and the U.S. economy, as the administration cracks down on chip exports to China.

PayPal Holdings Inc said it expects a strong recovery in payments volumes in the second quarter as social distancing drives more people to shop online, even as lockdowns start to ease, sending its shares up 8% in extended trading.

IAC/InterActiveCorp reported an 11% rise in quarterly revenue on Wednesday, as its online dating business and video hosting platform added more stuck-at-home users.

U.S. cities that have idled mass transit during coronavirus lockdowns are turning to an unusual partner to get essential workers to hospitals, warehouses and factories: ride-hailing company Uber.

Fitbit Inc on Wednesday launched a virtual study to test if its wearable devices can detect irregular heart rhythms or atrial fibrillation.

The U.S. Department of Commerce is close to signing off on a new rule that would allow U.S. companies to work with China's Huawei Technologies on setting standards for next generation 5G networks, people familiar with the matter said.

Facebook Inc on Wednesday announced the first 20 members of its independent oversight board that can overrule the company’s own content moderation decisions. Here are some key facts about how the board will work:

Libra Association, the entity managing the Facebook Inc-led effort to build global digital currency Libra, on Wednesday named Stuart Levey as its first chief executive officer.

Shopify Inc said more people were shopping online as the COVID-19 crisis kept them at home, helping the Canadian e-commerce company post a surprise adjusted profit for the first quarter and sending shares to a record high.

Zoom Video Communications Inc on Wednesday named former White House National Security Adviser HR McMaster to its board and hired the policy chief of one of the tech world's big lobby groups to drive governmental relations as it poured more money into improving its image on security.

Volvo Cars is deepening ties with lidar sensor specialist Luminar, and has struck a deal with the Silicon Valley-based start-up to integrate its technology in its new car platform, SPA 2, the Sweden-based car maker said on Wednesday.

Canadian e-commerce company Shopify Inc on Wednesday posted a surprise adjusted profit for the first quarter and beat revenue estimates as more users visited its platform after lockdowns led merchants to move their businesses online.

China on Tuesday successfully launched its largest carrier rocket, which was carrying a new-generation spacecraft, state broadcaster CCTV said.

Samsung Group heir Jay Y. Lee, embroiled in a bribery scandal, on Wednesday made a rare apology over controversial succession plans and said he will not hand over management rights to his children at the family-controlled conglomerate.

Finnish telecom equipment maker Nokia said on Wednesday it had issued an offer to buy back for cash its 1% notes due March 15, 2021 for up to 500 million euros.

Estonian ride-sharing service Bolt on Wednesday launched its own electric scooter model and said it aims to launch the scooter service in more than 45 cities this summer.

California and three of its largest cities on Tuesday sued Uber Technologies Inc and Lyft Inc, accusing them of classifying their drivers improperly as independent contractors instead of employees, evading workplace protections and withholding worker benefits.

Pinterest Inc on Tuesday said advertisers were slowing spending on the image sharing company due to the COVID-19 pandemic and reported a bigger-than-expected first-quarter loss as costs surged from new user additions, sending its shares down 18% in extended trade.

Video game publisher Electronic Arts Inc forecast full-year adjusted revenue above Wall Street estimates on Tuesday, riding on the broader surge in videogame sales as people shelter at home due to the COVID-19 pandemic.