Netflix Adds 6 Million Subscribers, Says Password Crackdown Is Working
Netflix generated nearly $8.2 billion in revenue during the second quarter, up 2.7% year over year but below the company's forecast of 3.4% revenue growth.
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Stanford University President to Step Down After Probe Into Research
In a separate statement, Tessier-Lavigne said that he will retract three papers and issue corrections on two.
TPG to Buy Nextech for $1.4 Billion as PE Deals Continue Picking Up
Nextech’s current owner, THL, paid $500 million for it in 2019.
Goldman Sachs Profit Falls Sharply, but Execs Show Optimism on Deals
The Wall Street bank was again hurt by the stark slowdown in dealmaking.
Kim Kardashian’s Skims Lands $4 Billion Valuation
The clothing and shapewear brand is reportedly targeting an IPO in the next 12 months.
Oddity Tech Raises IPO Price Range Again
The new price range comes just a day after the company already revised its IPO price upward.
Spain Fines Apple and Amazon $218 Million for Restricting Third-Party Device Sales
The country's competition regulator said a deal between Apple and Amazon unfairly restricted sales of Apple devices by third-party sellers.
Microsoft’s OpenAI-Powered Office 365 Software Will Be Costly
The products will cost an extra $30 per month per person, more than doubling the cost of the cheapest version of Office 365 per seat.
Meta Releases Much-Anticipated Open-Source AI Model, Llama 2
AI developers can use the model for commercial purposes.
Morgan Stanley Profit Falls as Investment Banking Slowdown Persists
Still, results topped expectations, causing shares to climb sharply.
Bank of America Profit Climbs, While PNC Is Pressured
BofA’s trading and investment banking operations pick up during the quarter.
Salesforce Hires Lawyer Who Defended it From Activist Investors
Sabastian Niles, a former partner at Wachtell, Lipton, Rosen & Katz, has a track record of defending companies from activist pressure.
Norway Temporarily Bans Personalized Ads from Facebook, Instagram
Three-month ban will begin in August.
Microsoft Faces EU Probe for Bundling Teams With Office
Microsoft has avoided regulatory friction in Europe for a decade, but that may change soon.
SpaceX Forecasts Doubling of Revenue to $8 Billion
The company was valued in a secondary share sale at about $150 billion this month.
Temu Sues Fast-Fashion Rival Shein Over U.S. Antitrust Law
The lawsuit is the latest development in the retailers’ battle for dominance in the lucrative U.S. market.
Oddity Tech Raises Price Range for IPO
The makeup and skincare company aims to ride the current wave of investor enthusiasm for other consumer and beauty stocks.
Tesla Builds First Cybertruck After Years of Delays
The Cybertruck is Tesla’s first new passenger vehicle in more than three years.
Twitter Still Cash Flow Negative, Musk Says
Elon Musk tweeted that Twitter's ad revenue has dropped by around 50 percent.
Weekday mornings
The Information AM by The Information Staff
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