Elon Musk Sells $4 Billion in Tesla Stock
Musk has sold $19 billion in Tesla stock since April when he signed deal to acquire Twitter
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SEC Wins Securities Lawsuit Against Blockchain Startup LBRY
The case could have significant implications for other crypto startups that issue tokens.
Affirm Slashes Forecast on Slow Peloton Sales, Inflation Worries
The buy now, pay later provider cited shrinking Peloton sales and rising interest rates as reasons for cutting its sales volume and revenue guidance.
Google Cloud Partner Sada Lays Off 11% of Staff
Sada, a firm that helps Google Cloud customers move to the cloud, is cutting jobs after encountering a slowdown in business during the second half of the year.
Disney Warns on Economic Impact on Disney+ Profit Target
Most of the growth at Disney+ in the quarter came from overseas.
Zoom’s Platform Aspirations Take Shape With Email, Calendar Services
Zoom is best known for the video conferencing service that enabled millions to stay in touch and work remotely during the pandemic, but now it's branching out.
Meta Layoffs to Commence Early Wednesday Morning
A note acknowledging the layoffs will go out to Meta employees at 3am PST on Wednesday.
EU Opens Competition Probe of Microsoft’s $69 Billion Activision Acquisition
The commission said it was concerned Microsoft could block access to popular Activision games like Call of Duty on competitors’ consoles.
Binance to Acquire FTX in Stunning Rescue
Binance CEO said rival exchange FTX was facing a "significant liquidity crunch."
Nvidia Offers New Chip for China to Comply With U.S. Export Rules
The new chip for data centers can be used as an alternative to another Nvidia chip whose exports to China has been blocked due to new U.S. rules.
Palantir Posts Declining Free Cash Flow, Forecasts Slowing Growth
The data analysis company accelerated growth in its government business but slowed growth in its commercial business.
Twitter Sees Musk Bump on Daily Active Users
Daily user growth has reportedly hit “all-time highs”
OpenSea Announces New NFT Royalty Policies
The tool to enforce fees for new NFT collections will go live on Tuesday.
FTX, Binance CEOs Square Off Over FTX’s Native Token
Binance’s move to dump FTT comes after CoinDesk reported that the tokens make up the largest asset on the balance sheet of Alameda Research, the crypto trading firm co-founded by Bankman-Fried.
Apple Warns “Significantly Reduced Capacity” at iPhone Factory in China Under Covid Controls
The production at the plant in Zhengzhou, which makes the iPhone 14 Pro and iPhone 14 Pro Max, has been curtailed as the city imposes strict Covid controls.
Meta Platforms to Lay Off Thousands This Week
Word of Meta's upcoming layoffs come just days after Twitter cut about half its workforce, or 3,700 people, and other companies such as Stripe and Lyft also instituted mass layoffs.
Twitter Asks Some Fired Employees to Return
Twitter is asking some fired employees to return and delaying the rollout of verification changes until after the midterm elections.
Apple Pauses Hiring Outside R&D
The hiring pullback comes as Apple expects revenue growth to slow during the holiday season.
Elon Musk Says Twitter Is Seeing Revenue Drop
Advertisers pause Twitter spending amid downturn in ad market
Twitter Employees File Lawsuit Alleging Federal Labor Violation
Twitter has discussed laying off about half of its workforce and has started to implement cuts Friday
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.
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