Apple Scraps In-House Buy Now, Pay Later Loans
Apple is shutting down its buy now, pay later operations that allowed customers to pay off purchases of up to $1000 in installments.
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U.S. Sues Adobe Over Subscription Plans
The U.S. alleges Adobe doesn't clearly disclose subscription plan terms including an early termination fee if customers try to cancel an annual plan early.
TikTok Announces AI Avatars for Advertising
The avatar product allows advertisers to use generative AI to create essentially all aspects of a campaign.
Surgeon General Calls for Warning Labels on Social Media
The Surgeon General said warning labels on tobacco products had changed behavior.
Medical Data Firm Tempus AI Enjoys IPO Pop
Medical data firm Tempus AI, one of the first artificial intelligence-focused companies to go public, saw its shares jump in its stock-market debut Friday.
Musk Pay Package Passes with 72% of Tesla Vote In Final Tally
Shareholders also backed Tesla’s relocation to Texas with 63% of all shares approving the move.
Google Adtech Trial Set For September As Judge Denies Summary Judgment
The decision clears the way for the trial to begin on Sept. 9.
Shein Tries to Downplay Chairman’s “American Company” Comments
The fast-fashion giant is still seeking approval from Chinese regulators for an overseas IPO.
Evolve, Bank for Mercury and Synapse, Hit With Fed Action
Fintech bank Evolve Bank will have to overhaul its risk management, compliance and anti-money laundering controls.
Microsoft Pulls AI ‘Recall’ Feature From New PCs Amid Privacy Concerns
The feature was almost immediately criticized by security experts, who said hackers could abuse it to steal users’ passwords or financial information.
Adobe’s Shares Rally as Generative AI Fuels Revenue Growth
The company also raised its target for net new digital subscriptions to $1.95 billion.
Tesla Shareholders Cheer Musk On Following Pay Ratification
Tesla also reelected board members James Murdoch and Kimbal Musk.
OpenAI Adds Ex-NSA Director to its Nonprofit Board
Nakasone will join the board's Safety and Security Committee to help shape the company’s strategy on cybersecurity threats.
Microsoft President: Executive Bonuses Will Be Tied to Cybersecurity
Lawmakers asked about a report accusing Microsoft of failing to prioritize cybersecurity, and about its business with China.
JPMorgan Flags Sale Of Greek Fintech After Legal Woes
JPMorgan has raised the prospect it could shortly sell its partly-owned Greek payments fintech Viva Wallet
Amazon to Launch Satellite Internet in South America Through Vrio Deal
Amazon has said that it plans to launch commercial Kuiper service at some point in 2025.
Musk: Tesla Shareholders Voting in Favor of Pay Package
Tesla is due to officially announce the result Thursday at the company's annual shareholder meeting.
Apple Isn’t Paying OpenAI For ChatGPT Partnership
OpenAI is hoping that more exposure on iPhones will lead to more signups of its paid service, while Apple will take its customary cut from these subscriptions.
Broadcom Revenue Jumps 43% on AI Chip Demand
Broadcom said one-quarter of its revenue came from AI products.
OpenAI Surpasses $3.4 Billion in Annualized Revenue
The ChatGPT maker was generating $1.6 billion in annualized revenue in late 2023.
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The Information AM by The Information Staff
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