China’s Government Takes Stake in Alibaba’s Domestic Unit
Beijing has previously made similar investments in the domestic units of other major internet firms including ByteDance, Weibo and Kuaishou.
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JPMorgan Shuts Down Frank, a Site It Had Bought for $175 Million
Bank's suit alleges Frank's founder created millions of fake accounts.
Apple Cuts Cook’s Target Compensation After Shareholder Pushback
Shareholders complained about the size of Cook's equity awards in the past two years, which were valued at around $82 million each year.
SEC Sues Genesis, Gemini Over Earn Accounts
More than 340,000 Gemini Earn customers have been unable to withdraw roughly $900 million since Genesis halted withdrawals on Nov. 16.
HPE Acquires Startup Pachyderm to Attract AI Customers
Pachyderm, a startup in which HPE invested last year through its venture arm, tackles the challenge of managing data from different external sources.
At Tiger Global, a $10 Million Settlement Could Hinder Fundraising
Details of the allegations emerge as Tiger targets $6 billion for its latest venture fund.
SpaceX Eyes Winter Launch For Rocket to Mars
Elon Musk’s rocket company targets January 20 for final engine testing
Blockchain.com Lays Off 28% of Staff
The London-based company laid off 25% of its staff, or roughly 150 employees, in July.
Rent the Runway Begins Selling Inventory On Amazon
Rent the Runway is selling both new and secondhand clothes on Amazon’s site, as the clothing rental company struggles with profitability and maintaining renewed growth.
HBO Max Hikes Prices to $15.99 a Month
This is the first time Warner Bros. Discovery has increased the cost of HBO Max’s ad-free tier in the U.S. since its May 2020 launch.
Netflix to Host Advertiser Event During TV ‘Upfronts’ Week
Netflix is joining the TV "upfronts," splashy events where TV networks showcase upcoming programming to advertisers before negotiating billions of dollars in ad-spending commitments.
Peltz Attacks Disney’s Management
Peltz's criticisms include that Disney overpaid for Fox's entertainment assets.
Sam Bankman-Fried Denies Stealing Customer Funds in Newly Launched Substack
Bankman-Fried mostly reiterated claims he’s made in the past, including that he believes FTX US is solvent and that he has not run Alameda Research in several years.
General Atlantic-Owned Beauty Company Files For Bankruptcy
Forma Brands, the parent company of influencer-hyped beauty brands including Morphe, has agreed to be sold to a group of lenders including Jeffries and Cerberus.
Tesla Reportedly Nearing Preliminary Deal to Build Factory in Indonesia
Indonesia, a major producer of nickel, a key material for electric car batteries, is trying to play a more prominent role in the industry.
Disney Replaces Chair and Reveals Peltz Plans Proxy Contest
Incoming chair Mark Parker is so well respected among Disney directors that they reportedly considered him as a temporary replacement for former CEO Bob Chapek.
Apple Working on Touchscreen Macs
In a reversal, Apple is working on bringing a touchscreen MacBook to market by 2025.
Netflix Limits Which Employees Can View Colleagues’ Salaries
Director-level employees at the streaming giant can no longer see salary data for their coworkers.
Twitter Makes TikTok-Like Feed the Default for Apple Mobile Devices
The new Twitter update to Apple’s iOS operating system defaults to an algorithmic timeline called “For You,” the same name as TikTok’s wildly popular recommended feed of videos.
Logistics Startup Flexport Axes 20% of Workforce
Logistics startup Flexport laid off 20% of its workforce Wednesday morning.
Weekday mornings
The Information AM by The Information Staff
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