Fidelity Halves Valuation of Ant Group Amid Beijing’s Crackdown
The steep markdown from the U.S. shareholder comes as Ant faces a major restructuring after Beijing forced the fintech giant to scrap its IPO.
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The Information AM
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Recent Editions
Bill and Melinda Gates to Divorce
Bill and Melinda Gates plan to divorce after 27 years of marriage.
Trial Documents Show Epic Financial Details
Documents submitted as part of the trial showed that Epic's revenue and profits have fallen sharply in the past two years.
Ex-Google Researcher Joins Apple
Samy Bengio is joining Apple weeks after he resigned from Google, where he’d worked for 14 years
Activist Investor to Push for More Board Seats at Box
Starboard Value is frustrated that Box hasn't improved revenue growth and profitability during the pandemic as other cloud software companies have done.
Taboola Under Criminal Antitrust Probe Over Hiring Practices
The disclosure comes eight months after Taboola’s merger with rival Outbrain was called off.
Verizon Sells Yahoo and AOL Businesses to Apollo
The sale crystallizes a 40% loss for Verizon on the purchase of the two companies that were early leaders in the internet but have long since faded.
Tesla Steps Up Government Relations Efforts in China
The move comes as the U.S. electric car maker grapples with Beijing's growing scrutiny and negative publicity in China's state media.
China Says 33 Apps Violated Data Privacy Rules
Apps operated by Tencent and Baidu were among the ones told they had 10 days to correct the problems or be fined.
App Made by Blacklisted Chinese Group Disappears From Apple App Store
The disappearance comes after The Information reported more than a dozen apps made by the Xinjiang Production and Construction Corps were in Apple's App Store.
Apple’s App Store Had 78% Profit Margin in 2019, Documents Show
Apple’s actual App Store profit figures remain under seal.
Roughly a Third of Basecamp to Leave in Buyouts
About a third of employees at Basecamp will accept buyouts and leave the company, after a tumultuous week for the software maker.
Andreessen Horowitz Plots $1 Billion Crypto Fund
VC firm Andreessen Horowitz plans to raise $1 billion to invest in crypto startups.
TikTok Announces New CEO, COO
Vanessa Pappas, who has been serving as the interim leader of TikTok, will become the company’s COO.
Roku Removes YouTube TV as Dispute Escalates
The conflict shows how old-fashioned carriage disputes between cable operators and entertainment companies have carried over into the digital age.
Europe Alleges Apple’s App Store Breaches Competition Law
The European Commission announced on Friday that Apple abused its market position around the rules of the app store.
Alibaba Freezes Senior Executive Pay Raises
The Chinese e-commerce giant is offering bigger salary increases to its junior staff to prevent them from leaving amid a government crackdown.
Beijing to Investigate Energy Consumption of Crypto Mining
About 75% of the world’s bitcoin is still mined in China despite government crackdowns on the energy-guzzling industry.
China Orders Internet Firms to Fix Problems in Fintech Businesses
The move is part of Beijing's effort to strengthen its supervision of online financial services.
AWS Reports Highest Quarterly Sales Growth Since 2018
Improved revenue growth may be the result of earlier decisions to double the size of the AWS sales force and appoint senior leaders from outside.
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