SoFi Buys Payments Company Galileo for $1.2 Billion
The acquisition is the latest fintech deal to close this year, even as the coronavirus has shaken the economy
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Hotel Chain Oyo Furloughs Workers
Revenue tumbles at the SoftBank-backed company as the coronavirus slams the hospitality industry.
Tesla Cuts Salaries, Furloughs Hourly Workers
Tesla told employees that production lines have been shut down until May 4 and that pay cuts will last until end of the second quarter.
Shares of Chinese Online Tutoring Firm TAL Education Fall After Audit Uncovers Fraud
The disclosure of fraud at a second Chinese listed company in less than a week is likely to shake investor confidence in Chinese companies.
New Investors Get Right to Buy Airbnb Shares at $18 Billion Valuation
The price provides some measure of how steeply Airbnb has fallen since the coronavirus started cutting deeply into its business.
Google’s G-Suite Adds One Million Customers
Growing G Suite—which sits within the company’s cloud division—could help Google in its bid to gain market share from cloud leaders, Amazon and Microsoft.
Redfin Lays Off 7% of Staff, Furloughs Many More
The tech-driven real estate brokerage is slashing its headcount in response to the slump in housing demand.
Pinterest COO Steps Down Effective Immediately
Françoise Brougher had been at Pinterest for two years, after stints at both Google and Square.
Jack Dorsey Commits $1 Billion to Covid-19 Relief
The donation is one of the more high-profile philanthropic efforts to emerge from Silicon Valley in response to the coronavirus pandemic.
Group Nine Cuts 7% of Staff
Another in the list of media companies that have cut staff in order to save money during the pandemic
Facebooks Sends Grants to 400 Newsrooms
The Facebook Community Journalism project gave each newsroom $5,000
Luggage Startup Away Announces Big Job Cuts as Sales Plummet
Luggage startup Away has furloughed roughly half of its workforce and laid off around 60 employees after sales plummeted 90%.
Toast, a Restaurant-Focused B2B Startup, Cuts More Than 1,000 Employees
The Boston-based firm, valued most recently at about $4.9 billion, had just announced $400 million in venture capital in February
More Clarity, Possibly More Funding for Federal Loan Program
The Treasury Department released new guidance on small business loans that might be good news for startups. Meanwhile, the program might get a funding boost.
Facebook Quietly Releases New Messaging App for Couples
Tuned is Facebook's latest attempt at releasing an app that's distanced from its main brand. But the app says it shares data with Facebook.
Congress Moves to Digital Documents
Switching from paper to electronic documents is one way the coronavirus is slowly prompting Congress to adapt to the digital age.
CNN Acquires Canopy to Support Upcoming Digital News App
The acquisition gives CNN more expertise on curation by bringing on former Spotify executives.
WeWork Sues SoftBank Over $3 Billion Tender Offer Withdrawal
WeWork's stockholders, including founder and former CEO Adam Neumann, were expecting to sell stock as part of the tender offer.
AT&T Takes Out $5.5 Billion Loan, Plans ‘Sizing’ of Business
The company took out the loan to help with financial flexibility during the coronavirus epidemic.
Taiwan Government Joins New York City Schools and SpaceX in Banning Zoom
Zoom's rise as a top videoconferencing software has been marred by series of security missteps.
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