Walmart’s Flipkart May Face $1.35 Billion Fine
Reuters cited sourcing as saying the company could be fined for violating India’s strict rules over foreign investment in online marketplaces.
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Recent Editions
Tencent’s WeChat Resumes User Registrations After Nine Days
The resumption comes as the company has been battered by state media and other new regulations criticizing online gaming and its harm to China’s youth.
Uber Posts $1.2 Billion Operating Loss, Discloses DoorDash Comparison
Finally, it's possible to start comparing Uber's U.S. and Canada food delivery business to that of market leader DoorDash.
Alphabet Approves 85% of Employee Requests for Relocation, Remote Work
The Google parent’s return to the office has been complicated by the Delta variant and changing worker preferences for how and where they do their jobs
Robinhood Labeled a ‘Meme Stock’ Amid Trading Halt
This morning, shares of Robinhood briefly rose more than 100% from the stock-trading app's IPO price.
Former Facebook Exec Carolyn Everson Joining Instacart as President
The appointment means three key leaders at Instacart are women who came over from Facebook.
China’s Kuaishou Closes Its TikTok Rival Video App
The company’s app Zynn, which gave cash and gift rewards to users for referrals, briefly topped download charts in the U.S. last year.
SoftBank Builds $5 Billion Stake in Drug Giant Roche
Healthcare technology is one of the areas where SoftBank has been ramping up its investments.
Lyft Posts Sharp Rise in Q2 Revenue but Still Below 2019 Levels
Lyft's second-quarter results showed that the company has made progress cutting costs but also demonstrated that the pandemic continues to dampen ride volume.
U.K. Considering Block of Nvidia’s $40 Billion Arm Deal on National Security Grounds
The move would add to Nvidia and Arm’s regulatory headaches.
Amazon’s U.K. Delivery Drone Program Hit With Job Cuts
A report says that more than 100 people working on Amazon’s Prime Air drone program in the U.K. have lost their jobs in the last couple of years.
Marvell Challenges Broadcom With $1.1 Billion Innovium Acquisition
In a shift to focus on chips for high-end switches, Marvell is paying $1.1 billion to acquire Innovium, a seven-year-old chip startup.
Virtual Events Startup Hopin Seeks Funding at $7 Billion Value
The startup was founded only months before the coronavirus pandemic began.
Alibaba Boosts Share Buyback Program to $15 Billion
Alibaba's upsized share buyback program comes after the recent global selloff of China tech stocks caused by Beijing's regulatory crackdown.
Discovery’s Q2 Results Reflect TV Ad Downturn
While the TV firm's second quarter U.S. ad revenues were higher than the pandemic-depressed period a year ago, they were down from 2019, confirming speculation that TV ad dollars are moving to digital.
Tencent Vows to Limit Minors’ Game Time After State Media Attack
Tencent's move comes after a Chinese state media article calling for more government regulation on online games caused the company's stock to plunge.
European Commission to Investigate Facebook’s $1 Billion Kustomer Deal
The announcement follows an investigation opened last week in the U.K.
Salesforce Acquiring Automation Software Provider Servicetrace
With the Slack acquisition behind it, Salesforce is setting its M&A sights on another emerging software segment that automates repetitive tasks.
Grab’s First-Quarter Sales Rise 39% Ahead of SPAC Merger
The Singapore-based ride-hailing and food delivery giant reiterated that it expects to complete the $40 billion SPAC merger in the fourth quarter.
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
