US President Joe Biden said Wednesday that "pariah" Vladimir Putin is "losing" the war in Ukraine, but it is too early to tell whether the Russian president has been weakened...

Mark Zuckerberg’s big bet on the metaverse has now lost $40 billion – and the company intends to lose even more. The huge figures were revealed as part of Meta’s latest results, which generally showed a strong rise in advertising revenue. But they also showed an increase in expenses at the company, with the development not only of the metaverse but also artificial intelligence and legal fees. Meta has been dramatically cutting costs and laying off staff. But at the same time it has been spending heavily on some projects, such as the metaverse, in the face of criticism from those who suggest that the bet is unlikely to pay off. That work on the metaverse is done by the company’s Reality Labs unit, which is responsible for developing technology like augmented reality glasses. It reported sales of $276 million, down from $452 million in the same quarter last year. The unit lost $3.7 billion in the second quarter, putting it on track to have far higher costs than the $5 billion annual target set out in a widely circulated investor note in the fall. The unit has lost more than $40 billion since 2021, including $13.7 billion last year. Meta said it expected Reality Labs operating losses to “increase meaningfully” in 2024 as the company continued to invest in augmented and virtual reality and “scale our ecosystem.” Zuckerberg had previously said Meta would “pace” investments in the division after 2023. He told investors he understood why many of them would feel discomfort over such a long-term bet. But the positive results across the company pushed Meta shares up 7.5 per cent. “We continue to see strong engagement across our apps and we have the most exciting roadmap I’ve seen in a while with Llama 2, Threads, Reels, new AI products in the pipeline, and the launch of Quest 3 this fall,” Meta chief executive Mark Zuckerberg said. Meta’s second-quarter revenue grew 11% to $32 billion in the quarter ended June 30, compared with analysts’ average estimate of $31.12 billion. Ad revenue rose 12% in the quarter, faster than growth at Google, where ad revenue rose 3%. Adjusted earnings per share of $2.98 topped Wall Street targets of $2.91, according to data from Refinitiv. The social media giant has been climbing back from a bruising 2022, buoyed by hype around emerging AI technology and an austerity drive in which it has shed around 21,000 employees since last fall. The company’s shares have more than doubled in value this year as a result. Advertisers are reinforcing those gains by pumping money into digital ads again after months of muted spending, heartened by signs that the economy may overcome a bout of high inflation without suffering a major meltdown. Brands are hedging their bets, however, and sticking with tried and true platforms. That helps Meta and Alphabet while punishing smaller players like Snap, which reported disappointing sales on Tuesday. Meta’s revenue forecast did not specify whether the figure includes any sales that might come from the recently launched Threads app, which does not yet have ads. Additional reporting by Reuters Read More Elon Musk’s ‘X’ is already trademarked by Mark Zuckerberg How Mark Zuckerberg’s new ChatGPT rival could lead to ‘obscene’ AI Meta unveils its ChatGPT rival Llama Here’s how to claim your share of $725m settlement in Facebook’s privacy lawsuit Elon Musk forces firms to pay X $1,000 to keep gold ticks Slack has stopped working

Rockstar has shocked fans with the news that 'Red Dead Online' will no longer receive any major new content.

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WASHINGTON U.S. Federal Reserve Chair Jerome Powell said on Wednesday that Fed staff are no longer forecasting a

Black Sea fleet commander Viktor Sokolov has appeared in a second video aired on Russian TV, days after Ukraine claimed he was killed in a missile strike on Sevastopol. A TV station run by Russia’s defence ministry showed an interview with the commander on Wednesday saying the fleet was performing successfully, although it was unclear from his comments whether the clip was filmed after Ukraine’s missile strike on 22 September. Ukraine’s special forces said on Monday that Mr Sokolov and 33 other officers were killed in the missile strike carried out on the Black Sea Fleet’s headquarters in Crimea. The new video comes after Russia’s defence ministry released another clip on Tuesday, appearing to show Mr Sokolov on a video conference call with Russian defence minister Sergei Shoigu. It also remains unclear when this video was recorded. Ukraine is now saying it is working to “clarify” earlier reports that he had died. Russia has not yet directly confirmed or denied the claims. Read More Viktor Sokolov seen for second time in newly emerged video as he claims Russia’s Black Sea Fleet ‘performing successfully’ New video of ‘dead’ Russian Black Sea fleet commander raises doubts over Ukraine’s claim Hillary Clinton mocks Putin over Nato expansion: ‘Too bad, Vladimir. You brought it on yourself’ Ukrainian forces ‘enjoy success’ near Bakhmut as Putin deploys reserves

The online multiplayer portion of Supermassive Games' The Quarry has been delayed until July 8 at the latest, according to developers.

Air France-KLM is looking to replace a set of aging widebody aircraft, seeking to pick up more fuel-efficient

The New York Yankees are expected to be very aggressive this coming offseason after falling short of the postseason in 2023. New York finished in fourth place in the AL East.