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.
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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.
New Media Venture Backed by Blackstone to Buy Hello Sunshine for $900 Million
The deal is a sign of how the value of entertainment studios is on the rise as large media companies need more programming for their streaming services.
Zoom Agrees to $85 Million Settlement Over Privacy, Zoombombing
The settlement comes as the use of Zoom has surged during the Covid-19 pandemic.
Europe’s Bolt Valued at $4.85 Billion, Eyes Grocery Delivery
Bolt’s core service remains ride-hailing, but the company has launched new products like car, scooter and e-bike sharing.
Amazon Slapped With Record $888 Million Fine by Europe
The $888 million fine for allegedly breaching Europe’s GDPR laws is the biggest sanction since the continent’s data and privacy regime was introduced in 2018.
China’s Securities Regulator Calls for Close Communication With U.S.
Beijing's comments came after the U.S. Securities and Exchange Commission said it would require additional disclosures from Chinese companies seeking U.S. IPOs.
Sky News Australia Says Suspended from YouTube for a Week
Local media said the suspension comes after the News Corp. Australia TV station broadcast content denying the existence of Covid-19 or suggesting the use of discredited cures in violation of YouTube policy.
Square to Acquire Australia’s Afterpay for $29 Billion
The acquisition comes amid growing appetite for buy now, pay later services that let consumers make purchases in installments without credit checks.
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