Bank CEOs Rail Against Capital Rules Before Congress
U.S. banking executives laid out their arguments to a Senate committee on Wednesday on why proposed rules to force them hold more capital would backfire.
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New Mexico Lawsuit Accuses Meta of Creating ‘Marketplace for Predators'
The suit, filed Tuesday, comes after a similar action was filed by a group of state attorneys general earlier this year.
ByteDance Offers to Buy Back $5 Billion Worth of Shares From Investors
The offer values ByteDance at $268 billion, down nearly 10% from the $300 billion valuation in a similar buyback program for investors last year.
Boston-based Venture Firm Abruptly Stops New Investments, Cuts Staff
The firm is one of the most vivid examples of the strains on the venture capital industry.
Another Activist Investor Calls for Disney to Add Nelson Peltz to Board
Ancora, a Cleveland-based firm, said Disney should add Nelzon Peltz to its board after the activist investor said he plans to mount a proxy battle.
Rent the Runway Restructures Debt For Second Time In 2023
The clothing rental firm has struggled to boost subscriber numbers this year.
Amazon Slashes Seller Fees on Cheap Apparel
The move coincides with mounting competition from discount online clothing retailers like Shein and Temu.
IPO Candidate Navan Lays Off 145 in Profitability Push
The job cuts come as the eight-year-old company prepares to go public.
Musk’s X.AI to Raise $1 Billion
The artificial intelligence startup disclosed its fundraise in an SEC filing.
TikTok Nears Deal to Revive E-Commerce Service in Indonesia
TikTok's partnership with Indonesia's GoTo comes after the country's new regulation forced the video app to halt its e-commerce service.
Bitcoin Bump Boosts Robinhood Crypto Trading
Rough math suggests the company’s crypto trading was the highest it’s been since Nov. 2022.
Disinformation Scholar Says Harvard Fired her Under Pressure from Meta
Donovan said the shift against her took place as Meta CEO Mark Zuckerberg’s charitable operation was in the process of pledging $500 million to Harvard.
Twilio Lays Off 5% of Workforce
The cuts are the third round of layoffs since September 2022
Amazon Doesn’t Renew U.K. Premier League Rights
Comcast’s Sky Sports and Warner Bros. Discovery’s TNT Sports bought four years of rights for $8.5 billion.
Google Preps Public Preview of Gemini AI After Postponing In-Person Events
Gemini is Google's effort to catch up to OpenAI.
Nvidia-Backed Cloud Startup CoreWeave Closes $642 Million Secondary Sale
CoreWeave was on track to generate $500 million in revenue this year, up from $25 million last year.
Spotify to Cut 17% of Workforce
CEO Daniel Ek said substantial action to address Spotify's costs was necessary, given slower growth and higher interest rates.
Sam Altman-Backed Chip Startup Inked $51 Million Deal With OpenAI
OpenAI was especially drawn to Rain AI's chips for their ability to be placed in devices like phones and watches, a person familiar said.
Longtime Google Ads Chief Steps Down
Dischler will be replaced by search ads chief Vidhya Srinivasan.
Apple and Paramount Global Discuss Streaming Bundle
Industry executives increasingly have talked about the value of bundling, to reduce churn.
Weekday mornings
The Information AM by The Information Staff
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