California Files Antitrust Complaint Against Amazon
It's nearly identical to a case filed by Washington DC's attorney general, which was dismissed earlier this year.
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Twilio Lays off 11% in Push for Profitability
Twilio has grown rapidly in recent years as usage of its core voice and messaging products has surged, but now it wants to boost sales of its other offerings.
Tencent Music Plans Hong Kong Stock Market Debut as Soon as Next Week
An increasing number of U.S.-listed Chinese tech companies have completed dual listings in Hong Kong amid political tensions between the U.S. and China.
Twitter Shareholders Approve Musk’s $44 Billion Acquisition
The investors' approval of the deal further complicates Elon Musk's plans to cancel it.
Former Disney CEO Bob Iger Joins Thrive Capital
Iger will mentor startup founders and find new investments at Josh Kushner’s venture capital firm.
Citadel Securities, Fidelity and Charles Schwab to Launch New Crypto Exchange
EDX Markets will be targeted to both retail and institutional investors.
Patreon Lays Off 17% Of Staff
Patreon is the latest creator economy startup to lay off employees, including from its operations, finance and HR teams.
China Is Twitter’s Fastest Growing Overseas Ad Market Despite Being Banned
Local authorities and Communist Party officials are spending heavily on Twitter, which is blocked in China, to promote tourism or tout local economic or cultural milestones, according to a Reuters investigation.
Peloton Founder John Foley Resigns
Chief legal officer also to depart, replaced by Uber lawyer
Oracle Slightly Misses Cloud Revenue Growth It Projected
Shares of Oracle have meaningfully outperformed the Nasdaq composite index.
AppLovin Abandons Bid for Unity
A combination of AppLovin and Unity would have created a powerhouse in the market for mobile app advertising.
Roblox Announces New Ad Revenue Stream
It will introduce advertising within games and a secondary market for sales of digital assets.
Instagram’s Bid to Rival TikTok Hampered by Reels Engagement Slowdown
“Most Reels users have no engagement whatsoever," an internal Meta report said.
Twitter and Musk Continue Fight Over $7.75 million Whistleblower Payout
Twitter’s lawyers deny Musk’s claim that six-figure severance violated $44 billion merger agreement.
White House Seeks to Widen Restrictions of U.S. Chip Exports to China
The Biden Administration will publish new rules codifying the ban of high-end chip and machinery exports from producers such as Nvidia and AMD that had already been told to stop.
Bolt Scraps $1.5 Billion Acquisition of Wyre
The e-commerce software company unveiled the planned Wyre acquisition after Bolt’s revenue growth had fallen.
Patreon Lays Off Part of Security Team
The startup says the layoffs, affecting five employees, are due to a strategic shift in its security program.
Alphabet Leads $1 Billion Investment in Health Technology Arm Verily
Verily has also promoted president Stephen Gillett to CEO, replacing founder Andy Conrad, who will become executive chairman.
FTX Buys 30% Stake in Anthony Scaramucci’s SkyBridge Capital
The investment comes just a few months after SkyBridge suspended withdrawals from one of its crypto-focused funds in July as digital assets have tumbled.
Wistron In Talks to Partner with Tata Group to Build iPhones in India
The talks come as the Taiwanese Apple supplier looks to shore up its India business, which is operating at a loss.
Weekday mornings
The Information AM by The Information Staff
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