Alibaba’s Net Profit Rises 51% as China E-Commerce Business Recovers
The e-commerce giant is trying to regain momentum after a challenging 2022 when severe Covid lockdowns dealt a blow to China's economy.
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In RTO Push, Amazon Tells Some Employees to Relocate or Leave
Employees must notify their manager of their decision by Sept. 15.
Biden Issues Order to Limit U.S. Investments in China’s Tech Sector
The details of the new restrictions remain unclear, leaving room for further discussions and potential legislation.
Google, Universal Music in Talks Over AI Licensing Deal
Google is seeking to develop product that would let users generate new songs using AI.
SEC Says it Will Appeal Parts of Ripple Ruling
The SEC said it would also motion to pause further proceedings in the district court after it files its appeal.
Disney Hikes Prices Up for Disney+ and Hulu, Promotes Ad-Supported Tiers
Disney is increasing prices for Disney+ and Hulu, while also promoting a new bundle and the services' cheaper ad tiers, to drive more streaming revenue.
Disney Curbs Streaming Losses as TV Revenue Drops
Rising programming costs and declining ad revenue continue to hurt Disney's TV business. Meanwhile, the company halved losses within its streaming unit.
Apple Can Keep App Store Rules for Now as Supreme Court Rejects Epic Games’ Bid
Apple can continue to enforce its current rules over payments within the App Store as its legal battle with Epic Games heads to the Supreme Court.
Warby Parker Boosts Revenue Outlook
The company has continued to shrink its losses and convince shoppers to make more frequent purchases.
China’s Regulator Increases Oversight of Mobile Apps
Under the new rules, all apps must register their business details with China's Ministry of Industry and Information Technology.
SoftBank’s Vision Fund Reports Gains as Firm Steps Up AI Investments
SoftBank is "cautiously" stepping up the pace of its investments as the firm hopes to play a leading role in the global generative AI market.
Lyft Grows Sales 3%, Narrows Net Loss
The company’s sales growth is a sharp slowdown from the last quarter.
Datadog Shares Drop 20% as Customers Cut Spending
Datadog has been one of the highest-flying cloud stocks in recent years but now some customers are spending more cautiously than in the past.
Allbirds Sales Continue to Slump
The direct-to-consumer footwear brand has seen declining sales for the past three quarters.
ESPN Strikes Sports-Betting Deal with Penn Entertainment Worth Over $1.5 Billion
Casino operator Penn Entertainment has struck a 10-year, $1.5 billion deal with ESPN to launch a new sportsbook. It's also selling Barstool Sports back to its founder.
Rubrik Acquires Startup Laminar in Pre-IPO Cybersecurity Push
Rubrik started out a decade ago as a company that could help customers manage their data, but its pitch is now just as focused on cybersecurity.
Digital Media Firm Puck Raises More Than $10 Million
The new funding brings Puck's total funding to more than $17 million. It will be used to hire editorial and business staff.
More Banks Face Hefty Fines for Employees’ Encrypted Messaging
Wells Fargo had by far the biggest penalty Tuesday, at $125 million, among the actions the SEC brought against 10 firms.
Design App Canva Valued at $25.5 Billion in Secondary Market
The $25.5 billion valuation is about 36% lower than the $40 billion valuation in Canva's most recent equity funding round in 2021.
Musk’s Neuralink Raises $280 Million
The brain computer interface startup is working on technology to help restore sight and mobility.
Weekday mornings
The Information AM by The Information Staff
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