Chinese Startup Under Investigation After Post on Tiananmen Anniversary
The social media account of Xiaohongshu was shut down after a post June 4 said ““Tell me loudly, what is the date today?”
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Katerra Files for Chapter 11 Bankruptcy
It was the first time Katerra publicly acknowledged its potential shutdown, which The Information first reported last Monday.
Reid Hoffman’s SPAC Nears Deal with Aurora, a Self-Driving Truck Developer
Aurora needs more money after absorbing Uber's self-driving car unit.
Bill Ackman Proposes One-of-a-Kind SPAC Deal With Universal Music Group
The deal, which gives UMG an enterprise value of $43 billion, is structured as a stock purchase rather than a traditional blank-check merger.
Cisco Systems Shuffles Networking Leaders
As Cisco's business begins to show signs of recovering from the pandemic, a senior networking executive is taking a leave of absence.
Trump Ban to Stay in Place At Least Two Years: Facebook
Decision comes after Oversight Board criticized indefinite ban as “indeterminate and standardless."
Facebook Will Face UK and European Antitrust Probes Into Data Use
The probes are the latest in a series of antitrust actions against major tech companies in Europe and the U.S.
Meituan Founder Donates $2.3 Billion Amid Beijing’s Antitrust Probe
China's tech billionaires are coming under more scrutiny as Beijing tightens its control over the country's most powerful internet companies.
Facebook to Scrap Policy That Gives Special Treatment to Politicians
The move comes after the Oversight Board criticized Facebook's policy and said the same rules should apply to all users.
Google to Let Android Users Opt Out of Ad Tracking
Google is following Apple in giving smartphone users the ability to limit how they are tracked by advertisers.
Facebook’s Marne Levine Named Chief Business Officer
Levine will oversee merged organization responsible for advertising and global partnerships.
U.K. Health Startup Babylon to Go Public in U.S. in $4.2 Billion SPAC Deal
Babylon is the latest U.K. company to seek a U.S. listing via a SPAC merger.
Wix.com Restores Hong Kong Pro-Democracy Website
The website's temporary shutdown was a rare case where a firm based outside of Hong Kong has complied with a takedown request using the city-state's national security law.
Jack Ma’s Ant Group Gets Approval to Launch Consumer Finance Company
Ant will control half of the new entity, with six other partners owning the rest.
Downloads of TikTok Slow Down From Last Year
TikTok was still the world’s most popular app with 80 million downloads in May, but growth has slowed from last year, according to Sensor Tower.
Fitch Says Profits to Grow Slower at Chinese Tech Firms
The ratings agency said high investments this year will put pressure on margins at Alibaba, Tencent and Baidu.
Apple Employees to Come Into Work at Least Three Days a Week
The move underscores CEO Tim Cook’s insistence that employees come to work, a reflection of his belief that virtual interactions aren’t conducive to creativity.
Elliott Management Takes Big Stake in Dropbox
Activist investor, which has previously pushed for changes at companies like Dell Technologies and AT&T, has eyes on the cloud storage and collaboration market.
SEC Accuses Musk of Violating 2018 Lawsuit Settlement Over Tweets
The SEC's complaints suggest that the 2018 settlement has been difficult to enforce.
Etsy Acquires Gen Z Fashion Platform Depop for $1.6 Billion
Etsy is acquiring one of the pioneering companies of the second-hand fashion ecosystem, and one that is especially attuned to the desires of young people:
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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