PayPal Profit Rises 56% as Expenses Kept in Check
Lower expenses in areas such as sales and marketing and customer support helped boost PayPal's profit in the first quarter.
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Tesla Breaks Ground on Lithium Refinery
Tesla aims to start production at the Corpus Christi refinery in 2015
Apollo Part of Bid to Acquire Bankrupt Crypto Lending Firm Celsius
The private equity giant has joined a bid that was placed by crypto investment firm NovaWulf, according to a report from CoinDesk.
Amazon Studios Forms New Film and TV Distribution Unit
Amazon plans to make its movies and TV shows available to rent or buy on other platforms. It's also open to licensing its programming to cable TV networks.
TikTok Tracked Users Who Watched LGBTQ Videos
TikTok reportedly tracked users who watched gay content.
Vista Buys Stake in Supply Chain Monitoring Firm Resilinc
Resilinc will use the investment to adopt AI technology and to expand outside of the U.S.
DOJ Probing Binance Over Possible Russian Sanctions Violations
The probe, which is being handled by the department’s national security division, is looking at whether Binance or company officials allowed users to bypass the sanctions.
Sequoia Let LPs Withdraw Capital Early From Evergreen Fund
Facing liquidity crunch, some Sequoia backers chose to withdraw money earlier than planned.
Instacart’s Order Volume Growth Slows in First Quarter
The slowdown could affect the timing of Instacart's IPO.
Vice Media Nears Bankruptcy Deal For Sale
Vice Media is in talks to sell itself to lenders including Fortress Investment Group and Soros Found Management in a deal valued around $400 million.
Warner Bros. Discovery Reports Small Streaming Profit in Q1
WBD chief David Zaslav said the company's streaming division will turn a profit "a year ahead of schedule." Meanwhile, WBD's TV ad revenue dropped 15% as the TV ad market slumped.
Google Researcher: Company Has ‘No Moat’ in AI
A Google researcher argued in a recent internal memo that their company, as well as OpenAI, won’t be able to defend their respective advantages in AI.
Apple’s Revenue Falls 3% Despite iPhone Sales Growth
Apple's iPhone sales increase was striking, given that the overall smartphone market shrank in the quarter.
DoorDash Revenue Increases 40% as Non-Restaurant Items Drive Order Growth
DoorDash shares stayed flat, at $63, on Thursday.
Coinbase Revenue Drops 34%, Cuts Back on Costs
The crypto exchange significantly cut back on costs and narrowed its first quarter net loss.
TD Bank, First Horizon Terminate Merger
Two banks decide to scrap their deal because of regulatory concerns.
Peloton Shares Drop on Forecasted Subscriber Decline
The home fitness company has emphasized selling more subscriptions, which don’t require hardware, under CEO McCarthy.
Lyft Reports 14% Revenue Growth But Projects Little Growth in Q2
The no. 2 U.S. ride-hailing firm also burned nearly $100 million in the quarter.
Goldman’s Silicon Valley Bank Dealings Under Investigation
Goldman's dealings with SVB, including selling SVB's securities, had prompted criticism.
Jason Bergsman Named CEO of Chernin Group-Backed MeatEater
Bergsman, a founding member of The Chernin Group, will oversee MeatEater, an outdoors and adventure content outlet prominent on YouTube and Netflix.
Weekday mornings
The Information AM by The Information Staff
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