Alibaba Upsizes Share Buyback as Revenue Misses Expectations
The e-commerce giant is cutting costs as it scrambles to adapt to a tougher economic environment in China.
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FTX’s Ray Calls FTX Empire “Unprecedented” for Lack of Corporate Controls
Ray also says "a substantial portion" of FTX and Alameda's assets may be "missing or stolen."
E-Commerce Tech Firm Rokt Hires New CFO, Eyes 2023 IPO
E-commerce marketing tech company Rokt has hired a new chief financial officer and added a veteran retail exec to its board as it continues to prepare for an IPO in late 2023.
U.K. Government Blocks Chinese Takeover of Chip Manufacturer
The U.K., like the U.S., has been stepping up its efforts to block China's attempts to acquire overseas semiconductor assets.
Warcraft and Overwatch to End in China After NetEase And Blizzard Fail to Renew Contract
The Chinese games publisher and developer had a 14-year relationship with Blizzard, part of Activision Blizzard, the games giant that Microsoft wants to buy.
Twitter Details Staff Expectations Ahead of Thursday Ultimatum
Twitter staff have until 5 p.m. E.T. on Thursday to decide whether to stay at “an extremely hardcore” Twitter or leave with severance.
Microsoft, Nvidia to Build Cloud Supercomputer for Large AI Models
Microsoft is teaming up with longtime industry partner Nvidia to develop cloud-based services for training large language models.
Cisco Plans to Lay Off 4,000 Employees in Coming Year
Cisco said it expects to spend hundreds of millions on severance packages for laid off employees in the coming year.
Amazon’s Layoffs Hit Obscure Alexa Teams and Gaming as Others Offered Buyouts
Amazon’s sprawling Alexa team has reportedly operated at a $5 billion loss in recent years.
TikTok CEO Says Company is Addressing U.S. Security Concerns
TikTok CEO Shou Zi Chew said the short-form video app is working to address U.S. concerns over its data security.
FBI Director Says TikTok Poses National Security Concerns
Chris Wray's comments come as TikTok, owned by China's ByteDance, is facing tough questions from lawmakers about data security and Beijing's influence.
Elon Musk Tells Delaware Court He Does Not Want to Be CEO
Elon Musk took the stand Wednesday to defend his $56 billion Tesla pay package
Genesis Halting Withdrawals in Crypto Lending Arm
The lending company received a $140 million equity infusion from parent company Digital Currency Group last week.
Square Adds Business Credit Card
Square is launching a business credit card in partnership with Amex, putting it head to head with fintechs and payments giants that have been beefing up financial products for their customers.
China’s Tencent to Offload Most of Its Stake in Meituan
The move comes as Tencent's videogame and advertising businesses are grappling with economic and regulatory challenges.
Activist Investor TCI Calls On Alphabet to Cut Costs
The investment firm urged Alphabet to aggressively cut costs, including reducing headcount and minimizing losses for its Other Bets.
Bidder Emerges for Vox Media as Protocol Closes
All signs suggest that the ad market remains as weak as ever.
How Naver’s Poshmark Acquisition Evolved Out of Partnership Talks
South Korean internet giant Naver’s deal to buy Poshmark evolved out of talks about a partnership between the companies to expand into new markets, a securities filing showed on Tuesday.
SpaceX to Raise Funding at $150 Billion Valuation
Elon Musk’s rocket company has already raised $2 billion this year.
Ant Group’s Consumer Finance Arm Scales Back Fundraising Target
The Chinese fintech giant controlled by Alibaba founder Jack Ma continues to face challenges after Beijing cancelled its 2020 initial public offering.
Weekday mornings
The Information AM by The Information Staff
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