The daily tech stock news briefing
06/16/2021, Shopify (SHOP) plans to make Shop Pay available to all U.S merchants selling items on Facebook, Instagram and Google by the end of the year.

06/16/2021, Shopify (SHOP) plans to make Shop Pay available to all U.S merchants selling items on Facebook, Instagram and Google by the end of the year.

June 16, 2021

Shopify (SHOP) plans to make Shop Pay available to all U.S merchants selling items on Facebook, Instagram and Google by the end of the year. The company is especially targeting merchants who don't use the Shopify Online store. Shopify plans to make Shop Pay more accessible to independent brands to strengthen its user base. Once integrated, it will be the first time that a Shopify product is available to non-Shopify merchants, marking an important milestone in making commerce better and easy for everyone. Shopify shares rose 3.42% while three major indexes were down more than 0.5% on Wednesday today.

06/16/2021, On Wednesday, the Federal Reserve kept interest rates near zero.

06/16/2021, On Wednesday, the Federal Reserve kept interest rates near zero.

June 16, 2021

On Wednesday, the Federal Reserve kept interest rates near zero. However, more Fed officials now anticipate rate hikes by the end of 2023. The central bank also reiterated its commitment to its asset purchase program, which is currently absorbing approximately $120 billion per month. Following the Fed's new projections of two rate hikes by year's end 2023, each of the three major stock indexes ended Wednesday's session lower.  S

06/16/2021, General Motors announced on Wednesday that it would increase its investment in electric and self-driving vehicles by 75% to $35 billion.

06/16/2021, General Motors announced on Wednesday that it would increase its investment in electric and self-driving vehicles by 75% to $35 billion.

June 16, 2021

General Motors announced on Wednesday that it would increase its investment in electric and self-driving vehicles by 75% to $35 billion. By 2025, the automaker hopes to sell more than one million EVs globally each year. GM has recently lost the public relations battle on EVs to rival Ford, which plans to invest $30 billion in electric vehicle development. Ford expects that by 2030, 40 percent of its global vehicle volume will be fully electric, thanks to new electric Mustang Mach-E and F-150 models. GM shares rose 1.56% while Ford shares were slightly up 0.13% today. Interestingly Tesla sharesalso rose nearly 1%.

06/16/2021, Waymo, Alphabet’s self-driving car division, has announced a $2.5 billion funding round.

06/16/2021, Waymo, Alphabet’s self-driving car division, has announced a $2.5 billion funding round.

June 16, 2021

Waymo, Alphabet's self-driving car division, has announced a $2.5 billion funding round. Earlier this spring, the company was in talks with outside investors about raising up to $4 billion. Since February, the Google sibling has lost six key executives in quick succession, including the CEO, CFO, and several executives, raising concerns about its strategy and competitiveness.

06/16/2021, Apple CEO Tim Cook criticizes proposed EU rules aimed at limiting the power of US tech giants.

06/16/2021, Apple CEO Tim Cook criticizes proposed EU rules aimed at limiting the power of US tech giants.

June 16, 2021

Apple CEO Tim Cook criticizes proposed EU rules aimed at limiting the power of US tech giants. He expressed concern that the draft rules would encourage the installation of apps that do not come from Apple's App Store, compromising iPhone security. Earlier this month, EU lawmaker Andreas Schwab, who is leading the European Parliament's review of the draft rules, stated that he wanted to strengthen the legislation and limit its application to only large corporations such as Google, Amazon, Apple, and Facebook.

06/16/2021, Full Truck Alliance Co., an Uber-like trucking startup, is looking to raise up to $1.57 billion in an initial public offering,

06/16/2021, Full Truck Alliance Co., an Uber-like trucking startup, is looking to raise up to $1.57 billion in an initial public offering,

June 16, 2021

Full Truck Alliance Co., an Uber-like trucking startup, is looking to raise up to $1.57 billion in an initial public offering, making it one of the largest Chinese company listings in the United States this year. According to a filing with the US Securities and Exchange Commission, the firm, which is backed by investors such as SoftBank Group Corp. and Tencent Holdings Ltd., is offering 82.5 million American depositary shares for $17 to $19 each.

06/16/2021, Lina Khan was sworn in as chair of the United States Federal Trade Commission on Tuesday.

06/16/2021, Lina Khan was sworn in as chair of the United States Federal Trade Commission on Tuesday.

June 16, 2021

Lina Khan was sworn in as chair of the United States Federal Trade Commission on Tuesday. She is an antitrust researcher who is interested in Big Tech's enormous market power. She assisted in the creation of a massive report alleging market dominance abuses by Amazon, Apple, Facebook, and Google. With bipartisan support, the United States Senate confirms her. Her appointment is a victory for progressives seeking a crackdown on tech firms that control a sizable portion of the economy.

06/16/2021, Facebook Inc. intends to include advertisements in virtual reality games on its Oculus Quest headset.

06/16/2021, Facebook Inc. intends to include advertisements in virtual reality games on its Oculus Quest headset.

June 16, 2021

Facebook Inc. intends to include advertisements in virtual reality games on its Oculus Quest headset. Facebook will run ads in Blaston, Resolution Games' futuristic shootout game. The ads are being tested in Facebook's Oculus Quest virtual reality headset. The move is an attempt to turn the expensive hardware business into a revenue generator for the social network. Facebook announced last month that it would begin testing advertisements for Oculus content in the mobile app.

06/16/2021, Last year, Amazon claims to have stopped more than 200 million suspected fake reviews before they were seen by a customer.

06/16/2021, Last year, Amazon claims to have stopped more than 200 million suspected fake reviews before they were seen by a customer.

June 16, 2021

Last year, Amazon claims to have stopped more than 200 million suspected fake reviews before they were seen by a customer. However, the company claims that its ability to deal with the situation further is limited due to a growing trend of bad actors attempting to solicit fake reviews outside of Amazon, particularly through social media. The company claims to have reported over 300 groups to unnamed "social media companies" in the first three months of 2020, with a median time of 45 days to shut down.

06/16/2021, Amazon is expanding the availability of its cashier-less checkout technology, known as “Just Walk Out,” to more stores.

06/16/2021, Amazon is expanding the availability of its cashier-less checkout technology, known as “Just Walk Out,” to more stores.

June 16, 2021

Amazon is expanding the availability of its cashier-less checkout technology, known as "Just Walk Out," to more stores. The first full-size Amazon Fresh grocery store equipped with this technology is set to open on June 17 in Bellevue, Washington. JPMorgan analyst Doug Anmuth reiterated a Buy rating on Amazon stock with a $4,600 price target.

Amazon shares rose 0.95% while the three major indexes were down more than 0.5% on Wednesday today.