Peloton Shares Jump on Subscription Growth and Narrower Loss
The fitness products and content company ended the latest quarter with more people subscribed to its all-access membership, but total members dropped slightly.
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Bustle Lays Off 8% of Staff, Shuts Down Gawker
The slowdown in ad spending continues to roil digital media firms. BDG is facing a "surprisingly difficult" Q1, its CEO said in a memo to staff.
Peacock Drops Free Tier For New Users
The cheapest option for new customers is now the $5 a month ad-supported tier.
Intel Cuts Salaries Amid Grim Outlook
While numerous tech companies have conducted layoffs amid concerns about a global recession, Intel is one of the first to implement broad pay cuts.
AMD Forecasts Sales Slowdown Due to Weak PC Demand
AMD's business did better than that of rival Intel in its December quarter but it expects weakening demand for PCs to have an impact this quarter.
Snap Warns Revenue Could Fall 10% This Quarter
Results from Snap don’t bode well for Meta Platforms and other ad-supported networks due to report later this week.
PayPal Lays Off 7% of Staff
CEO Dan Schulman attributed cost-cutting efforts, in part, to the economic slowdown.
Celsius Used Customer Money to Buy Crypto, Bankruptcy Filing Shows
Former Celsius CEO Alex Mashinsky sold at least 25 million Celsius tokens since 2018 for nearly $70 million.
Instagram Cofounders Launch News App
Artifact features a TikTok-like news feed curated to a user’s interests.
European Union Considers Making Tech Firms Pay for Internet Infrastructure
The proposal follows years of complaints by cable operators and phone companies that they pay for internet infrastructure without any contribution from companies that benefit the most.
Tesla Probed By DOJ Over Self-Driving Car Claims
The electric car maker confirmed the investigation on Tuesday.
Warner Launches Free Ad-Supported Streaming Channels on Roku
Warner Bros. Discovery is trying to increase revenue by expanding in the free, ad-supported streaming market.
Rent the Runway Restructures Debt
The clothing rental company will have two more years to pay back the $274.6 million it owes.
iRobot Share Price Slides Amid Scrutiny of Amazon Buyout
The drop likely reflects growing worries that the Federal Trade Commission in the U.S. and Competition and Markets Authority in the U.K. may challenge the deal.
Spotify Reports Sharply Higher Operating Loss
The results showed that Spotify's workforce had grown by 32% during 2022.
TikTok CEO To Testify Before Congress
The March 23 hearing of the U.S. Energy and Commerce Committee will be TikTok CEO Shouzi Chew’s first appearance before a U.S. Congressional committee.
SoftBank’s Ex-COO Claure to Join Shein as Head of Latin America
Marcelo Claure has also made a personal investment of $100 million into the Chinese startup which has grown into one of the most popular fast-fashion retailers in the world.
Biden Administration May Fully Cut Off Huawei From U.S. Suppliers
The U.S. has been stepping up its efforts to limit China’s access to key technologies due to national security concerns.
San Francisco Officials Urge Caution on Expanding Robotaxi Approvals for Waymo, Cruise
In one case, a Cruise vehicle with no driver approached the scene of a house fire and drove over a hose firefighters were using to put out the blaze.
Paramount+ and Showtime to Merge Streaming Services
Planned for later this year, the company also said it will reduce costs and warns of upcoming layoffs as a result of the merger.
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The Information AM by The Information Staff
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