Chinese E-Commerce App Xiaohongshu Cuts 9% of Staff
China's e-commerce sector is grappling with an economic slowdown and the country's recent Covid-19 lockdowns that have severely affected supply chains.
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AWS CEO Says No Current Plans for Spinoff
Adam Selipsky, who returned to AWS as CEO last July, said Amazon isn't mulling a spinoff of the cloud unit.
Snap Warns on Second Quarter as Economic Headwinds Rise
War in Ukraine, which prompted pause in advertising, compounded challenges from Apple’s privacy changes.
Warner Bros. Discovery Shuts Down CNN+
The move comes as the newly merged Warner Bros. Discovery is seeking cost savings.
Sheryl Sandberg Pressured UK Tabloid To Drop Kotick Story: Report
The Meta COO is reportedly facing internal scrutiny over the events from 2016 and 2019.
Amazon to Let Third-Party Retailers Use Logistics and Delivery Network
The move will put Amazon at odds with the likes of Shopify and delivery companies like FedEx and UPS.
Musk Details $25.5 Billion Financing Commitments for Twitter Bid
The commitments rely in part on Musk pledging more of his Tesla stake, worth around $200 billion.
Obamas and Spotify Decide Not to Renew Podcasting Deal
The move comes as Spotify's longtime content executive is leaving the company.
Elon Musk’s Boring Company Raises $675 Million
The new funding round, led by Vy Capital and Sequoia Capital, has boosted the startup's valuation to $5.675 billion.
YouTube Takes Down Channel of Hong Kong’s Leadership Candidate
John Lee, Hong Kong's sole candidate to become its next leader, was among a group of Hong Kong officials sanctioned by the U.S. government in 2020.
Government Authorities Warn of Looming Russian Cyberattacks
Agencies in the U.S., U.K., Australia, Canada and New Zealand teaming up to get organizations to shore up security on their networks.
Tesla Posts Record $3.3 Billion Profit as Revenues Surge
Tesla's strong results could help Musk's bid for Twitter
Shopify in Talks For $2 Billion Acquisition of Commerce Fulfillment Startup
The e-commerce software giants potential acquisition could see it carrying out its promise to spend over $1 billion on its fulfillment network.
Just Eat Considers Grubhub Sale Amid Post-Pandemic Delivery Hangover
The Amsterdam-based company acquired Grubhub during the height of the first wave of lockdowns in 2020 in a deal valued at $7.3 billion.
Coinbase Launches NFT Marketplace
The launch comes as NFT trading volume has fallen significantly from recent highs.
JPMorgan Loses Lead Role in Kingsoft’s IPO After Analyst Cuts Target
The change to JPMorgan's role in the IPO came after its analysts called China's tech sector "uninvestable" in the near term.
Blockchain.com Reportedly Planning IPO for Later This Year
The London-based crypto exchange was last valued at $14 billion after raising a Series D round in March.
Netflix Flags Advertising Is Coming After Subscriber Loss in Q1
Netflix shares plunged 20% in after-hours trading as investors responded to the result, which raised the prospect that Netflix's subscriber numbers may have peaked.
China’s Ant Group Buys Singapore-Based Payment Firm 2C2P
The overseas deal comes at a time when Ant's business in China is going through major changes due to the Chinese government's regulatory crackdown.
SoftBank’s $8 Billion Latin America Funds Lose Two Managing Partners
The departures come after Marcelo Claure, one of SoftBank's top executives who created the Latin America funds, left the company earlier this year.
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.
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