Meta’s Q1 Revenue Increases 3% as Ad Business Slowly Recovers
The company’s stock surged in after-hours trading following the earnings announcement.
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Layoffs Begin at Amazon Web Services
Though AWS is Amazon's most profitable business unit, the company is trimming its size amid slowed sales growth.
Founder of Fox Corp.-Owned Free Streaming Service Tubi to Step Down
Farhad Massoudi will depart Tubi, which he sold to Fox Corp. in 2020 for about $440 million. Fox is creating a new digital business unit led by longtime CTO Paul Cheesbrough.
Disney Sues Florida Gov. Ron DeSantis in Disney World Spat
Disney, which employs 75,000 people in Florida, alleges the state governor of retaliating against the company for its opposition to the "Don't Say Gay" education bill.
UK Regulator Blocks Microsoft’s $69 Billion Bid to Acquire Activision
Microsoft says it will appeal the decision.
Meta’s Clegg: TikTok in U.S. Creates ‘Lack of a Level Playing Field’
Clegg’s comments come as social media executives whose companies compete with TikTok have become more vocal in their opposition to the company.
OpenAI Teases Business Version of ChatGPT With Privacy Controls
In the latest sign that OpenAI's business side is maturing, the startup unveiled new features that give ChatGPT users more control over the data they generate.
Google Ad Revenue Declined For the Second Straight Quarter
Operating income fell 13% in the first quarter, reflecting $2.6 billion in costs related to layoffs and downsizing office space.
Binance.US Cancels Deal To Buy Bankrupt Crypto Firm Voyager
Voyager will now move to directly distribute cash and crypto back to customers.
Microsoft Revenue Rose 7% in Q1, Spurred by Office 365
Revenue in the unit that includes its Office 365 software grew 11%, compared to 7% growth in the quarter prior.
Spotify Wants to Raise Prices This Year, Ek Says
The streaming service hit 210 million paying subscribers, but quarterly revenue grew less than the company expected, at 14%.
FAA Opens Investigation Into SpaceX’s Starship ‘Mishap’
Witnesses reported scattered debris following the 33-engine blast off.
Endeavor Sells Sports School IMG Academy to EQT
All-cash deal has an enterprise value of $1.25 billion.
Coinbase Sues SEC to Respond to Rulemaking Petition
The lawsuit is the latest spat between Coinbase and the SEC and comes roughly a month after the agency sent a Wells Notice to the crypto exchange.
First Republic Saw More Than $100 Billion of Deposits Flee During Crisis
Bank says it will restructure and look to cut costs.
Microsoft to Separate Teams, Office Products Under EU Antitrust Scrutiny
The move could help Microsoft head off a formal antitrust investigation in the EU.
Apple Wins Legal Battle Over Epic, Which Appealed Antitrust Verdict
The ruling is a blow to Epic, which likely has lost the equivalent of at least $400 million in annual sales from “Fortnite” due to its absence on iPhones.
Tucker Carlson Is Out at Fox News
Fox News said it's "agreed to part ways" with its star TV host. Fox recently settled a defamation lawsuit from Dominion Voting Systems for $787 million.
Disney Undergoes Another Round of Layoffs
Disney is undergoing another round of layoffs this year as it plans to reduce costs by $5.5 billion. A third round of cuts is coming before the summer.
NBCU Chief Jeff Shell Exits After ‘Inappropriate Relationship'
Comcast said Shell would leave effective immediately, after an investigation by outside counsel into a complaint of "inappropriate conduct."
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.
By providing your email, you agree to The Information’s Privacy Policy