Tesla Shares Sink 11% After Shanghai Plant Closes
The share price drop continues a long slide in the value of Tesla shares, which are down 73% this year.
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Tech Hiring Remained Hot Even During Layoff Frenzy
As layoffs ramped up in the tech industry between April and October, plenty of firms were still hiring.
Saudi Arabia Takes Control of Augmented Reality Firm Magic Leap
Magic Leap, once valued at more than $4 billion, has struggled to live up to the hype it built around its AR technology.
Apple Hit With $98 Million in Back Taxes in Japan
The additional taxes were likely related to bulk purchases of Apple products by resellers who abused Japan's duty-free shopping rules.
TikTok U.S. Sale Pushed by Some Biden Administration Officials
Pentagon and Justice Department officials are said to push a harder line on the Chinese-owned app.
China’s Imports of Chip-Making Equipment Fall Amid U.S. Restrictions
The drop comes after the Biden administration earlier this year introduced tighter restrictions on the export of advanced chip technologies to China.
China’s Estimates Show 37 Million Daily Covid Infections
The surge comes after Beijing made a sudden move to relax many of its pandemic restrictions, putting an end its draconian zero-Covid policy.
Microsoft Rebuts FTC Lawsuit, Says it Needs $69 Billion Activision Acquisition to Compete With Sony
Microsoft president Brad Smith said the company is confident in its case but is still open to “creative solutions with regulators.”
ByteDance Probe Finds Employees Accessed Journalists’ Data
The revelation could stoke criticism of ByteDance’s handling of user data.
Musk Assures Disgruntled Investors That Twitter is Less Work Than Tesla
Elon Musk took to Twitter Spaces Thursday to discuss the struggling automaker
Tesla Raises Discount on Model 3 and Model Y
The discounts stand out at a time when some sellers have been raising their prices.
Crypto Exchange Bullish Scraps SPAC Deal
Bullish becomes the latest cryptocurrency startup to scrap a SPAC deal, following eToro and Circle.
BlockFi, FTX Creditor and Bankman-Fried Are Fighting Over Robinhood Stake
A court in Antigua found Bankman-Fried used FTX funds to buy the Robinhood stake, which cost $650 million.
Sam Bankman-Fried to be Released on $250 Million Bail
The former FTX CEO was arrested in the Bahamas last week and extradited to the U.S. on Wednesday.
YouTube Finalizes Sunday Ticket Deal With NFL
Google will likely lose money on the deal as it is reportedly paying $500 million more than DirecTV, which is thought to have been already losing money on Sunday Ticket.
Former Alameda CEO, FTX CTO Plead Guilty to Federal Charges
Ellison and Wang are cooperating with officials in the criminal and SEC cases.
Okta Targeted Again as Hackers Steal Confidential Product Code
In the latest in a string of cybersecurity-related incidents, Okta says attackers broke into its GitHub account and made off with product source code.
Sam Bankman-Fried to Be Flown to U.S. Wednesday Night
Bankman-Fried signed extradition papers on Tuesday, clearing a path for his flight to the U.S.
SEC Investigating Relationship Between Binance.US and Firms Tied to Binance CEO
Zhao controlled the two trading firms, Sigma Chain AG and Merit Peak Ltd, according to the report.
Bitcoin Mining Company Core Scientific Files for Bankruptcy
The company's largest unsecured creditors include the investment bank B. Riley, electric company Dalton Utilities and energy company Shell Energy Solutions.
Weekday mornings
The Information AM by The Information Staff
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