US Business

The electric-vehicle startup said it lost $1.74 billion in the third quarter as it continued to struggle with higher material costs and underused assembly lines.

The label was meant to indicate that the social-media company had verified an account’s authenticity.

Declines in streaming more than doubled in the recent quarter but have reached their peak, says CEO Bob Chapek.

Meta Platforms said it would cut 13% of staff, embarking on the company’s first broad restructuring to cope with a slumping digital-ad market and falling stock price.

The company said it plans to make cuts to marketing and content budgets after suffering wider losses in the streaming business. Shares fell around 7% after hours.

The sale this month of 19.5 million shares came after the billionaire completed his $44 billion purchase of Twitter.

Meta Platforms will begin laying off employees on Wednesday morning, CEO Mark Zuckerberg told hundreds of executives.

An industry group is alleging that company’s business practices give it an unfair advantage over cloud-services competitors.

The streaming giant has looked at sports like tennis and surfing, but Co-CEO Reed Hastings has been wary of the rising costs for rights.

The new graphics-processing chip, branded the A800, replaces the A100, a chip widely used in servers and AI applications by Alibaba, Tencent and Baidu.