SBF Told Ex-General Counsel to Come Up With Legal Justifications for $7 Billion Hole
Bankman-Fried made the request as FTX was trying to secure a lifeline from private equity firm Apollo.
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ESPN Accounts for 19% of Disney’s Operating Profits
The disclosure shows that ESPN's profit margin is much lower than that of Disney's other TV networks, which include ABC and FX.
Tesla Continues Margin and Cash Flow Crunch
Cybertruck won’t help much with cash flow, Musk warned
House Committee Says ‘Additional Questions Remain’ For Sequoia Following China Split
The congressional committee is concerned Sequoia's China split won't sufficiently limit capital investment in Chinese entities.
Netflix Raises Prices on Premium Tier
Netflix's revenue growth is accelerating, thanks to its password-sharing crackdown.
OpenAI Strikes Computing, Sales Deal With UAE Tech Firm
The conglomerate, G42, implied it would provide cloud computing capacity to Microsoft, which is OpenAI’s exclusive cloud provider.
Morgan Stanley’s Profit Falls on Investment Banking Slump
Investment banking revenue slides 27%, far worse than at other banks.
X Tests $1 Paid Subscription To Post
X said the test, which targets new users in New Zealand and the Philippines, was aimed at reducing spam and bots.
U.S. Bars Nvidia From Selling Advanced AI Chips to China
Nvidia’s stock price closed down 4.7% on Tuesday on the news.
Patreon Acquires Digital Events Startup Moment
Patreon acquired Moment, a livestreaming startup for ticketed digital events.
Waymo Cuts Staff in New Round of Layoffs
The move shows how Google’s parent company continues to try to limit employee-related expenses.
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.
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.
Weekday mornings
The Information AM by The Information Staff
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