PayPal Lays Off 7% of Staff
CEO Dan Schulman attributed cost-cutting efforts, in part, to the economic slowdown.
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Recent Editions
Celsius Used Customer Money to Buy Crypto, Bankruptcy Filing Shows
Former Celsius CEO Alex Mashinsky sold at least 25 million Celsius tokens since 2018 for nearly $70 million.
Instagram Cofounders Launch News App
Artifact features a TikTok-like news feed curated to a user’s interests.
European Union Considers Making Tech Firms Pay for Internet Infrastructure
The proposal follows years of complaints by cable operators and phone companies that they pay for internet infrastructure without any contribution from companies that benefit the most.
Tesla Probed By DOJ Over Self-Driving Car Claims
The electric car maker confirmed the investigation on Tuesday.
Warner Launches Free Ad-Supported Streaming Channels on Roku
Warner Bros. Discovery is trying to increase revenue by expanding in the free, ad-supported streaming market.
Rent the Runway Restructures Debt
The clothing rental company will have two more years to pay back the $274.6 million it owes.
iRobot Share Price Slides Amid Scrutiny of Amazon Buyout
The drop likely reflects growing worries that the Federal Trade Commission in the U.S. and Competition and Markets Authority in the U.K. may challenge the deal.
Spotify Reports Sharply Higher Operating Loss
The results showed that Spotify's workforce had grown by 32% during 2022.
TikTok CEO To Testify Before Congress
The March 23 hearing of the U.S. Energy and Commerce Committee will be TikTok CEO Shouzi Chew’s first appearance before a U.S. Congressional committee.
SoftBank’s Ex-COO Claure to Join Shein as Head of Latin America
Marcelo Claure has also made a personal investment of $100 million into the Chinese startup which has grown into one of the most popular fast-fashion retailers in the world.
Biden Administration May Fully Cut Off Huawei From U.S. Suppliers
The U.S. has been stepping up its efforts to limit China’s access to key technologies due to national security concerns.
San Francisco Officials Urge Caution on Expanding Robotaxi Approvals for Waymo, Cruise
In one case, a Cruise vehicle with no driver approached the scene of a house fire and drove over a hose firefighters were using to put out the blaze.
Paramount+ and Showtime to Merge Streaming Services
Planned for later this year, the company also said it will reduce costs and warns of upcoming layoffs as a result of the merger.
Twitter Reportedly Makes First Debt Payment
Twitter owes around $1.2 billion in annual interest on Musk’s debt.
New York Regulator Investigating Crypto Exchange Gemini
Gemini Earn customers have had hundreds of millions of dollars stuck in limbo since mid-November, when lending partner Genesis halted withdrawals.
Chinese Online Retail Giant JD.com Retreats in Southeast Asia
The Chinese rival to Alibaba said it was closing down its e-commerce operations in Thailand and Indonesia.
China’s Baidu to Launch ChatGPT-like Service
Baidu will launch the natural language bot as a standalone app and then bring it into its search engine.
Amazon Fresh Hikes Grocery Delivery Fees
The move comes after Amazon last week laid off employees in its retail division last week.
Shopify CTO Departs Following Layoffs of Technical Leaders
Allan Leinwand is departing the company, adding to a string of executive exits at the e-commerce software giant.
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