Peltz Attacks Disney’s Management
Peltz's criticisms include that Disney overpaid for Fox's entertainment assets.
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Recent Editions
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.
Amazon Starts Laying Off Employees in India
The move marks the opening salvo in mass layoffs that the e-commerce and cloud giant has said will begin next week.
TikTok CEO Meets With EU Officials Amid Security Concerns
TikTok, owned by Chinese internet giant ByteDance, is coming under growing scrutiny from governments in the U.S. and other countries.
Apple’s App Store Payouts Flatline
Apple’s annual disclosure of selected App Store metrics also showed an increase in the number of paid subscriptions to Apple services.
Gemini’s Winklevoss Calls on DCG Board to Remove CEO Silbert
Gemini works with Genesis on its lending product, Gemini Earn, whose 340,000 users have more than $900 million stuck on Genesis.
Amazon Expands ‘Buy With Prime’ to More U.S. Merchants, Adds Product Reviews
Amazon said Buy With Prime buttons have helped merchants boost conversion by an average of 25%.
Coinbase Lays Off 950 Employees, or at Least 20% of Staff
This is the second major round of layoffs in the past year. Coinbase cut 1,100 employees in June.
Chinese Lidar Startup Hesai Plans to File for U.S. IPO Soon
Hesai's listing would test U.S. investors' appetite after China's regulatory crackdown on the tech sector and the collapse of the global IPO market last year.
Microsoft Reportedly Considers $10 Billion Investment in OpenAI
It isn't clear whether that amount includes the cloud computing credits that OpenAI needs.
Khosla Ventures Plots $3 Billion Funding
The VC firm founded by billionaire Vinod Khosla has set an ambitious fundraising target.
Crypto Startup Wyre Curbs Customer Withdrawals, CEO Steps Down
Wyre is limiting customer withdrawals to no more than 90% as it explores “strategic options to navigate the market environment.”
Morgan Stanley COO Pruzan Leaving Bank
Pruzan to retire after a recent conversation with CEO Gorman where he learned he wouldn't become the next CEO, a person familiar with the matter said.
Weekday mornings
The Information AM by The Information Staff
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