EU Fines Meta $843 Million Over ‘Abusive’ Facebook Ad Practices
The social media company said it will appeal the decision.
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Amazon Adds Telehealth, Pharmacy Services to Compete With Hims & Hers
Hims & Hers shares dropped 17% after Amazon’s announcement.
House Republicans Introduce Bill to End Normal Trade Relations With China
The proposed bill would eliminate a trade provision popular with low-cost sellers like Temu and Shein.
Disney Expects Disney+ and Hulu to Drive $1 Billion in Profits Next Year
Disney's entertainment direct-to-consumer division generated $143 million in operating income in the company's fiscal 2024, which ended in September.
Disney’s Streaming and Film Divisions Drive Profits, But TV Continues Decline
Disney+ and Hulu helped Disney drive an entertainment streaming profit of $253 million in its fiscal fourth quarter, compared to a $420 million loss last year.
AI Chip Designer AMD Lays Off 4% of Global Workforce
AMD is refocusing its business around its largest potential areas of growth, a move that includes shedding some 1,000 jobs from its global headcount.
Polymarket Probed by DOJ for Alleged Use by U.S. Traders
Polymarket, which is not registered with U.S. regulators, had agreed to prevent U.S. traders from betting on the platform.
Ad tech Firm Viant Buys Streaming Data Firm Iris For AI Model
Viant will use Iris' streaming data to train its artificial intelligence model which is designed to automate media buying.
Amazon to End Fresh Grocery Service in Germany
It’s the latest example of Amazon pulling back on its own grocery delivery services and relying more heavily on partnerships with other grocers.
Meta Plans to Launch Ads on Threads in Early 2025
Threads plans to allow a small number of advertisers to create and publish ads on the app starting in January.
X’s Usage Drops Slightly, Pew Says, While WhatsApp Rises
YouTube continues to be the most widely used social media platform, by far, while Facebook is second, the survey showed.
Trump Nominates Rep. Gaetz, Who Voted Against TikTok Ban Bill, as AG
Trump named Republican Matt Gaetz as his pick for attorney general, putting forward a congressman who opposed a bill that could ban TikTok next year.
Meta to Face Trial Over Whatsapp, Instagram Acquisitions
The decision follows a series of setbacks in the FTC’s case
OpenAI Nears Release of Software to Operate Devices, Automate Tasks
Rivals such as Anthropic and Google are working on similar computer-using automation software.
OpenAI Discusses AI Data Center That Could Cost $100 Billion
OpenAI is calling on the federal government to help expand the country's data center energy capacity so that it can maintain its lead in AI over China, which is part of Donald Trump’s stated agenda.
Liberty CEO Maffei to Depart
Maffei is leaving after a series of deals have simplified Liberty, leaving it as the owner of the Formula One racing business and a motorcycle racing operation still to be acquired.
Klarna Files Confidentially For U.S. IPO
The installment lender has been eyeing a potential IPO after expanding aggressively in the U.S.
Marc Lore’s Wonder to Buy Grubhub, Raises $250 Million
Wonder is paying $150 million in cash and will assume $500 million in Grubhub debt.
Amazon Launches Temu Competitor Called ‘Haul’
The launch of Haul comes after a yearslong debate inside Amazon about how to respond to the rise of Chinese discount apps Temu and Shein.
Tencent’s Profit Jumps 47% on Videogame Growth in China
The videogame recovery shows Tencent's resilience when many industries are grappling with China's economic slowdown.
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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