Fidelity Marks Down Stakes in Discord, Reddit
Twitter, on the other hand, got better news. Fidelity marked up its stake by about 5% in May compared to April.
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The Information AM
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Recent Editions
Nvidia, Salesforce Ventures Back AI Video Startup Runway
The financing adds to Runway’s $50 million Series C round announced in December.
Jobs Startup Bitwise Files for Chapter 7 Bankruptcy
The company was valued at hundreds of millions before abruptly shutting down in early June.
Insider Intelligence to Lay Off 20, Outsource to Philippines
Axel Springer's Insider Intelligence is laying off 20 US-based employees and outsourcing their roles to the Philippines.
Amazon Expands Staples Returns Partnership to 1,000 Stores
The partnership is part of Amazon’s push to reduce its reliance on UPS for dealing with returns, which have become an expensive headache for the e-commerce giant.
FTC Set to File Major Amazon Antitrust Suit Over Marketplace Practices
FTC Chair Lina Khan has previously signaled publicly that she could seek to break up Amazon.
Coinbase Says SEC Has No Power to Regulate Crypto
Lawyers for the crypto exchange argued that none of its assets nor its staking services are securities, as the SEC has alleged.
BlockFi Creditors Push for Liquidation of Company
The committee’s lawyers argued that efforts to sell BlockFi have failed and that there is “no balance sheet complexity” as in other crypto bankruptcies.
Overstock.com to Take on Bed Bath & Beyond Website Name
The retailer’s chief executive said the company is weighing changing its name entirely.
Microsoft Wants to Offer Games That Work on Every Device
Nadella acknowledged that Phil Spencer, CEO of Microsoft Gaming, would make calls on content exclusivity if the deal goes through.
Visa Buys Brazilian Fintech Pismo for $1 Billion
The company, backed by Amazon and Accel, runs an issuing platform for some of the biggest banks in Latin America.
Banks Pass Stress Tests, Paving Way for Buybacks and Dividends
Biggest banks get a clean bill of health, with Fed saying they could withstand turbulence in real estate and housing markets.
Activision Blizzard CEO Bobby Kotick Says He’s No Fan of Subscription Services
Microsoft intends to incorporate Activision’s games in its GamePass service, a point that the judge hearing the case made to Kotick today.
Doordash Introduces Hourly Wages for Dashers
The meal-delivery service will calculate pay only the time they accept an order to the time they’ve completed the delivery.
TikTok Plans Revamp of U.S. Store to Feature Its Own Products
TikTok Shop has been off to a slow start with U.S. sellers, The Information previously reported.
Warner Bros. Discovery to Stream Live News from CNN (Outside of the U.S.)
Warner Bros. Discovery is also considering putting live news from CNN on Max in the U.S., but that's complicated by existing deals with cable TV distributors.
U.S. Mulls New Restrictions on AI Chip Exports to China
Such a move would reflect Washington’s growing concerns about American technology benefiting China in the two nations’ race for supremacy.
TikTok Policy Communications Spokesperson Departs
The exit followed a reorganization in TikTok's senior management.
TikTok Is Funding Its Users’ Suit Against Montana Ban
TikTok is reprising a playbook from 2020.
Google Misled Advertisers About Video Ads, Study Says
Research published by Adalytics said Google for years violated its own standards when placing video ads on other websites.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
By providing your email, you agree to The Information’s Privacy Policy