Goldman Sachs Profit Falls; Executives Claim Progress on Returning Bank to its Roots
Weakness in investment banking advisory and bond trading, as well as one-time charges, weighed on results.
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Bank of America Profit Climbs 10%; CFO Says Dealmaking Slump Will Persist
BofA joins other consumer banks JPMorgan, Citi and Wells Fargo in reporting better than expected results.
Amazon to Launch E-Commerce Site in South Africa Next Year
It would be the first time Amazon has entered a new e-commerce market since 2022.
Snap’s Stock Rises 12% After CEO Spiegel Targets 20% Revenue Growth
In a memo, Evan Spiegel also said the company aimed to log 475 million daily active users in the fourth quarter next year.
Stack Overflow, Hurt By ChatGPT’s Rise, Lays Off 28% of Staff
The move may be the strongest indication yet of how OpenAI’s ChatGPT has upended digital businesses this year.
Former FTX Executive Singh Testifies on Straw Donations, Defrauding Investors
Singh pleaded guilty to six fraud and conspiracy charges in February 2023.
Apple CEO Tim Cook Visits China For Second Time This Year
Cook is visiting China amid scrutiny of the company's brand and slower iPhone sales in the country.
LinkedIn Lays Off 3% of Staff
Microsoft has cut more than 10,000 jobs across its divisions this year in an effort to reduce costs.
U.S. Plans More Restrictions on China’s Access to Advanced Chips
The move is part of the U.S. government's efforts to further limit China's access to critical technology amid rising geopolitical tensions between the two superpowers.
Meta Details Efforts to Remove War-Related Disinformation
The company says it has set up a "special operations center" to monitor its platforms for content related to the conflict that violates its policies.
Lütke Confidant Takes Top Shopify PR Role
Alexandra Clark has returned to Shopify as VP of communications and public affairs.
Dimon Warns of Global Danger; JPMorgan’s Quarterly Profit Surges
Citi and Wells Fargo also posted higher third-quarter profits.
Microsoft Closes $69 Billion Activision Acquisition
The deal is Microsoft’s largest acquisition ever.
China’s Didi Global Plots Hong Kong Listing in 2024
The ride-hailing giant last year delisted its shares in the U.S. after it ran afoul of Chinese regulators and became a major target of Beijing's crackdown.
Qualcomm to Lay Off More Than 1,200 Employees
The cuts represent about 2.5% of the company workforce, according to the company’s latest annual report.
Flexport to Lay Off 20% of Staff, CEO Says
The cuts come five weeks after Petersen abruptly ousted former CEO Dave Clark amid a collapse in the freight market.
Caroline Ellison Testifies SBF Persuaded Her Not to Resign
Ellison said that she ultimately did not resign as CEO before Alameda collapsed because she trusted Bankman-Fried.
Atlassian to Buy Loom for $975 Million, a 36% Discount to Last Valuation
Andreessen Horowitz, Kleiner Perkins, and Sequoia participated in a $130 million funding round in 2021 that valued Loom at $1.53 billion.
European Commission Opens Probe Into X over Content Moderation
The investigation comes as X has slashed its capabilities for responding to misinformation in recent weeks and months.
Sequoia China Plans Global Push Following Split With U.S. Arm
HongShan is led by star dealmaker Neil Shen. The firm raised $9 billion in new funds last year.
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.
By providing your email, you agree to The Information’s Privacy Policy