White House, Harris Advisers Hear Out Crypto Leaders
White House officials and an advisor to Kamala Harris listened to crypto executives’ concerns but didn’t make any promises.
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Paramount Global Takes $6 Billion Writedown
Paramount Global made a small profit in its streaming operations but its TV networks and studio suffered sharp declines in revenue.
U.K. Launches Formal Probe Into Amazon’s Anthropic Investment
The regulator could eventually approve Amazon’s investment, seek to block it or force changes to the relationship between the companies.
Warby Parker Boosts Profits
Warby Parker said it was investing more in marketing to accelerate customer growth.
Crypto-Friendly Customers Bank Hit By Fed Enforcement Action
Customers Bank emerged as a key partner for the crypto industry after Silvergate Bank and Signature Bank closed
Meta and Google Struck Ad Deal to Target Teens
The ads reportedly exploited a loophole in Google's ad system because they were targeted to a category labeled as “unknown," which skewed toward under 18s.
Venture Capitalists Raise Funds for Harris Campaign
Attendees at a virtual meeting shied from pushing particular political policies, instead focusing on the idea that Harris would be better for national stability.
Humane Faces Sales Struggles, Data Shows
Humane’s AI Pin brought in over $9 million in “lifetime sales” but more than $1 million worth of product has been returned.
Robinhood Reports Record Quarterly Revenue as Crypto Trading Jumps
Crypto and equity trading revenues surged from a year ago
Warner Bros. Discovery Writes Down $9.1 Billion, Suffers Steep Losses
The writedown plunged the company into a loss of $10 billion during its second quarter, compared to $1.2 billion a year earlier.
Shopify Stock Surges on Revenue Beat
Shopify shares were up more than 20% on Wednesday morning after the reported beating its own revenue outlook in the second quarter.
Lyft Reports Higher Revenue and Solid Profits
Lyft forecast slightly slower growth in gross bookings for the third quarter, sending its stock falling in preliminary trading.
Disney Turns a Profit in Streaming, Driven by ESPN+
The company also revealed in a securities filing that it could have to pay as much as $5 billion to Comcast for its 33% stake in Hulu.
Startup Accelerator Techstars Cuts 17% of Staff
The cuts, which haven’t been previously reported, mark the company’s second round of layoffs this year.
Airbnb Warns of U.S. Growth Slowdown
The forecast follows other consumer tech companies that have warned of cooler growth in the third quarter.
Reddit Reports 54% Revenue Growth in Q2
Reddit stock weakened in after-hours trading as investors responded to the company's projection for slightly slower growth in the third quarter.
Instacart Shares Surge on Higher Revenue
The grocery-delivery app saw its shares jump 8% after it reported better-than-expected revenue for the second quarter of 2024.
Amazon’s Top India Executive to Depart
Manish Tiwary has led the company’s India business since 2020 amid intensifying competition from Walmart-owned Flipkart and other local firms.
Disney to Raise Disney+ and Hulu Prices, Launch Streaming Channels
Disney+ and Hulu prices are about to go up starting this fall as Disney also announced new old-school TV-style channels for Disney+.
X Sues Ad Industry Group, Some Top Advertisers
X, formerly Twitter, has filed an antitrust lawsuit against some top advertisers and trade groups, claiming they conspired to make advertisers boycott the platform.
Weekday mornings
The Information AM by The Information Staff
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