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Author: Dominic Rushe

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US states to launch antitrust and privacy inquiries into Facebook and Google



New York state attorney general said bipartisan coalition investigating if Facebook stifled competition and put users at riskDozens of US states are set to launch antitrust and privacy investigations into Facebook and Google as scrutiny of the big tech…

Tesla seeks to raise $2.3bn after concerns it is running out of money



Company announced last week it had lost $702m in the first three months of the year and sold 31% fewer vehicles in the first quarterTesla is seeking to raise $2.3bn after its latest results heightened concerns that the troubled car company is running o…

Amazon makes $1bn a month as growth slows



Jeff Bezos touts results but report, which reveals Amazon tracks and fires workers who miss productivity targets, casts shadow

Amazon made a profit of more than $1bn a month for the first three months of the year, the company announced on Thursday.

The retail and tech giant reported a profit of $3.6bn for the three months ending 31 March as sales reached $59.7bn. Profits were more than double last year’s and the company has now recorded four straight quarters in a row of record profits.

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Amazon faces new headache as Nashville deal enrages locals left and right



Unlikely alliance of free-market libertarians and union-backed activists argue $100m-plus in subsidies handed to retailer are a bad investment for the city

Nashville has a way of bringing people together – usually through music. This time it’s through a shared antipathy for the $100m-plus in subsidies this booming city has just handed to Amazon, the world’s most valuable retailer.

The ink has barely dried on a deal that the state of Tennessee and the city awarded Amazon and there are now only a few small hurdles remaining before Amazon starts moving in to a downtown office complex planned for Nashville Yards.

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Lyft stalls as shares slip below IPO price on second day of trading



Taxi company’s shares dropped about 12% on Monday, ending the day at $69.03 after selling shares at $72 on Friday

Shares in Lyft, the ridesharing company, stalled on Monday, falling below their initial public offering (IPO) on their second day of trading.

Lyft became the first of a new wave of giant tech companies to go public last Friday, selling shares at $72 a piece. The hotly anticipated sale saw Lyft’s share price leap to $78.89 on the first day of trading.

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Cryptocurrency investors locked out of $190m after exchange founder dies



QuadrigaCX, Canada’s largest exchange, was unable to access password or recovery key after Gerald Cotten died last December

About $190m in cryptocurrency has been locked away in a online black hole after the founder of a currency exchange died, apparently taking his encrypted access to their money with him.

Related: Bitcoin: after 10 wild years, what next for cryptocurrencies?

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Apple stocks tumble after company cuts forecasts for key quarter



Tim Cook cites unforeseen magnitude of economic slowdown in China in a letter to shareholders explaining the change

Apple cut its sales forecasts for its key end of year period on Wednesday, citing the unforeseen “magnitude” of the economic slowdown in China.

Related: US markets start 2019 with a whimper as Trump blames ‘glitch’ for 2018 losses

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Jeff Bezos tells employees ‘one day Amazon will fail’



Tech giant’s founder made surprise warning in staff meeting when addressing question about Sears, according to a recording

Amazon is going to fail, Jeff Bezos, the tech company’s founder, told staff recently.

Related: What cities offered Amazon: helipads, zoo tickets, and a street named Alexa

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