Microsoft Shares Drop on Azure, Office Concerns After UBS Downgrade
Microsoft's Azure and Office businesses, which generate billions of dollars in annual revenue, are getting closer scrutiny from investors as tech spending slows.
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Salesforce to Lay Off 10% of Staff After Hiring ‘Too Many People’ During Pandemic
In a letter to staff, CEO Marc Benioff took responsibility for overstaffing as revenue soared during the pandemic.
European Regulator Finds Meta’s Ad Practices Illegal
The decision could have serious implications for Meta’s revenue engine.
Coinbase to Pay $100 Million Settlement for Violating Anti-Money-Laundering Laws
Coinbase will pay a $50 million fine to New York state and spend an additional $50 million to improve its compliance procedures.
Microsoft, OpenAI Prep ChatGPT-Powered Bing to Challenge Google
Microsoft CEO Satya Nadella hopes to outflank his bigger search rival.
Shopify Tries to Reduce Time Employees Spend in Meetings
The e-commerce firm is clearing employees’ calendars and restricting when meetings can be held.
World’s Biggest iPhone Factory in China Is Back at 90% Capacity
The recovery comes after production at the factory, operated by Apple's contract manufacturer Foxconn, was disrupted by a Covid outbreak and worker protests.
Google Hires Top AI Ethics Expert From Microsoft
Mira Lane has joined Google's team focused on the effects of technology on society.
Sam Bankman-Fried Pleads Not Guilty to All Criminal Charges
The judge also approved a request to redact the names of two co-signers to Bankman-Fried’s bail.
Shopify Offers a la Carte Services in Effort to Woo Bigger Retailers
Shopify announced a new way for large retailers to integrate its products individually into their existing offerings, a notable move given the e-commerce giant’s historic focus on smaller sellers.
Elon Musk Has a New Number 2 at Tesla
Tesla Head of China Tom Zhu is Running Global Sales and Deliveries
Gemini Blasts Barry Silbert Over $900 Million in Frozen Funds
Customers of Gemini Earn have been unable to withdraw more than $900 million in assets after Gemini and Genesis paused withdrawals in mid-November.
SpaceX Raising $750 Million at $137 Billion Valuation
The new valuation is higher than the $125 billion valuation SpaceX had in its previous funding round last year.
Lawmaker Calling for TikTok Ban Says Sale of App to U.S. Company Would Be Acceptable
As TikTok faces intense scrutiny in Washington due to national security concerns, the app's future is looking more uncertain.
Sam Bankman-Fried Expected to Plead Not Guilty in Criminal Case
Bankman-Fried is expected to plead not guilty on all eight counts of fraud and money laundering charges in a hearing next week.
Fidelity Cuts Twitter Valuation by 56%
The November filing values Fidelity’s holdings at $23.5 million
Elon Musk Slashes Office Costs at Twitter
Twitter is closing its Seattle office and has cut spending on cleaning and security services at other locations as part of an effort to eliminate nearly $1 billion in annual, non-labor expenses.
Bahamian Regulators Seized $3.5 Billion of FTX Assets
The commission said that it will hold the tokens until it can return them to customers or to the joint provisional liquidators.
Workers On Edge As Google Cuts More Costs
Google is cutting more expenses, after reducing funding for an employee incubator and canceling other projects earlier this year.
Alibaba’s Cloud Computing Chief Steps Down
The change comes at a time when Alibaba Cloud, once the e-commerce giant's most promising business, has been grappling with slowing growth.
Weekday mornings
The Information AM by The Information Staff
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