Techlife News - October 30, 2021

FORD SAYS EV UNIT LOSING BILLIONS, SHOULD BE SEEN AS STARTUP

Ford Motor Co.’s electric vehicle business has lost $3 billion before taxes during the past two years and will lose a similar amount this year as the company invests heavily in the new technology.

CREDIT SUISSE DEAL AVERTED CRISIS, SWISS CENTRAL BANK SAYS

The Swiss central bank hiked its key interest rate Thursday and declared that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil.

3D-PRINTED ROCKET FAILS JUST AFTER LAUNCH

A rocket made almost entirely of 3D-printed parts made its launch debut Wednesday night, lifting off amid fanfare but failing three minutes into flight — far short of orbit.

WHAT TO KNOW ABOUT NEW RESEARCH ON COFFEE AND HEART RISKS

Coffee lovers — and their doctors — have long wondered whether a jolt of java can affect the heart. New research published Wednesday finds that drinking caffeinated coffee did not significantly affect one kind of heart hiccup that can feel like a skipped beat.

A 2nd Wave of Layoffs at Meta; 10,000 Jobs Are Cut

Facebook parent Meta is slashing 10,000 jobs, about as many as the social media company announced late last year in its first round of cuts, as uncertainly about the global economy hits the technology sector particularly hard.

DON'T LEAVE GLOBAL SOUTH OUT OF GREEN TECH GROWTH, UN WARNS

The majority of developing nations are set to miss out on the economic benefits of booming green technologies, slowing progress toward their climate goals and widening the inequality gap between rich and poor countries, a United Nations report warned Thursday.

EU MOVES ON CLEAN TECHNOLOGY: SUBSIDIES UP, FREE MARKET DOWN

The European Union presented plans to fundamentally revamp its policies on promoting green technologies and dealing with critical raw materials, imposing limits on imports from countries like China while unleashing subsidies and other financial incentives to ramp up home production.

VIRGIN ORBIT PAUSING ALL WORK, REPORTEDLY FURLOUGHS STAFF

Virgin Orbit said Thursday it is pausing all operations amid reports that the company is furloughing almost all its staff as part of a bid to seek a funding lifeline.

BAIDU UNVEILS CHATGPT-RIVAL ERNIE BOT; 650 COMPANIES SIGN UP

Chinese search giant Baidu unveiled its artificial intelligence chatbot Ernie Bot, presenting its rival to the Microsoft-backed ChatGPT in a prerecorded video presentation Thursday that appeared to disappoint investors.

Why TikTok is Being Banned on Gov't Phones in US and Beyond

The United States is ratcheting up national security concerns about TikTok, mandating that all federal employees delete the Chinese-owned social media app from government-issued mobile phones. Other Western governments are pursuing similar bans, citing espionage fears.