JPMorgan Lifts Profit but Warns On Higher Rates
The largest US lender reported 52% quarterly net profit and a big inflow of deposits in the wake of the collapse of Silicon Valley Bank.
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Walmart Sells Bonobos For 75% Less Than What It Paid
The DTC menswear brand was one of the pillars of Walmart’s previous e-commerce strategy.
San Francisco Police Arrest Tech Consultant in Bob Lee Killing
Nima Momeni, owner of Bay Area-based tech consulting firm Expand IT, is the lone suspect in last week's stabbing death of technology executive Bob Lee.
Cybersecurity Firm Zscaler Parts Ways With Chief Marketing Officer
Cybersecurity company Zscaler is looking for a new chief marketing officer to replace Chris Kozup, who has held that role since 2020 and is leaving at the end of April.
WeWork Joint Venture Defaults on Loan for San Francisco Office Building
The default comes a month after WeWork reached a deal with investors to shore up its balance sheet.
Josh Harris-Led Group Set to Buy Washington Commanders for $6 Billion
The sale would put to bed months of speculation that Amazon founder Jeff Bezos was considering buying the NFL team.
Amazon Defends CEO Andy Jassy’s Pay
Amazon's compensation committee defended Amazon’s pay practices and pushed back on shareholder suggestions of introducing performance benchmarks for stock awards.
AWS Reveals Generative AI Plans
Amazon Web Services is hoping to catch up to Microsoft and its OpenAI partner in incorporating generative AI into products.
SoftBank is Selling Most of Remaining Stake in Alibaba
The move comes after SoftBank sharply reduced its Alibaba stake last year, when the tech investment firm struggled to cope with the global stock market rout.
IBM Mulling Sale of Weather Technology Assets
IBM spent more than $2 billion to acquire most of The Weather Company's assets more than seven years ago, and now it's looking to offload them.
Rent the Runway Predicts Slower Revenue Growth, CFO to Exit
The clothing rental service has been giving subscribers more items per shipment, a change from its previous strategy of charging for add-ons.
Databricks Ups the Ante on OpenAI With New Language Model
Databricks is trying to raise its profile with free language model software that lets companies build commercial AI apps without violating OpenAI's licensing rules.
Thoma Bravo Lost Out on Qualtrics, in Part Because of Antitrust Concerns
The software company was eventually sold to Silver Lake and CPPIB.
Warner Bros. Discovery Unveils Max Streaming Service
Max will offer content currently available on HBO Max, plus programming from the company's Discovery portfolio of cable channels and eventually live sports.
FDIC Says Dodd-Frank Rollbacks Didn’t Stoke SVB’s Failure
Regulator also urges a measured approach to adding rules that would force banks to create capital buffers for unrealized bond losses.
Vox Media Sells News Video Outlet NowThis
Vox Media has sold NowThis, a news outlet popular on Facebook and TikTok, as the digital media firm looks to improve its balance sheet.
Twitter Has 1,500 Employees Remaining, Musk Says
Musk said Twitter’s total user time is at an all-time high.
U.S. Adults Are Overwhelmingly Skeptical of Crypto, Pew Research Finds
Most Americans who have heard of crypto don’t think it’s safe, and 43% of Americans who have already used crypto feel similarly.
Arm Listing to Get Sign-Off from SoftBank CEO
The report is a sign that the tech IPO market may open up by the late summer or fall.
Amazon Seller Hit with First FTC Fine for ‘Review Hijacking’
The seller was accused of abusing Amazon's reviews systems to boost its products.
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.
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