Ant Group Reorganizes Business Units, Appoints New President
Three units will set up their own board of directors and operate independently
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George Lucas Backs Disney in Proxy Fight with Nelson Peltz
The Star Wars creator, in a statement provided by Disney, said he has "full faith and confidence" in Disney and CEO Bob Iger's track record.
Google’s Reid Becomes New Search Chief
It's the second major executive shuffle for Google’s core search business in the last four months.
Nvidia Unveils New AI Chip, Reportedly in Talks to Buy Israeli Startup
The startup could help Nvidia's cloud AI service.
Messaging App Telegram Raises $330 Million in Debt
The company has chosen to raise debt rather than equity to retain its founders' control.
Amazon to Open Beauty and Personal Care Store in Italy
The store would be the first of its kind for Amazon and the company’s first bricks-and-mortar location in Italy.
Disney Gets Backing of Glass Lewis in Proxy Fight with Nelson Peltz
Glass Lewis backed Disney's efforts to turn around its business, dealing yet another blow to Nelson Peltz's campaign to win two board seats.
Amazon and FedEx Discussed Returns Deal
Amazon already lets customers make returns through UPS but started adding fees for some UPS home pickups and store drop-offs over the past couple of years.
SEC Charges Two Investment Firms for False Claims on Their Use of AI
The charges are related to marketing and other statements made by these firms between 2019 and 2023.
Apple Held Talks with Google, OpenAI to License Generative AI Models
A deal could draw more scrutiny from regulators as the U.S. Department of Justice is already suing Google for monopolizing search and search advertising.
U.S. Authorities Investigating Meta Over Drug Sales on Platforms
Prosecutors have reportedly been sending out subpoenas as part of the probe.
HashiCorp Stock Rises 12% Following Report That It’s Looking For Buyers
Its stock is down 67% since going public during the peak of the pandemic software boom.
Payments Startup Chipper Cuts Jobs in Seventh Round of Layoffs
The San Francisco-headquartered startup is moving the job functions to Africa, where it's business is focused.
FTC Opens Inquiry Into Reddit’s AI Licensing Deals Ahead of IPO
The probe signals that the antitrust watchdog is widening its examination of AI deals.
Former Apple Executive Named CEO of New Sports Streaming Joint Venture
Pete Distad, who was part of the Hulu launch team before joining Apple, will be in charge of a new sports streamer from ESPN, Fox and Warner Bros. Discovery.
Y Combinator’s Seibel to Step Back
Michael Seibel said Friday that he would hand over his leadership responsibilities at Y Combinator.
Private Equity Firm CVC Eyes May IPO
The listing has been delayed several times over the past two years
Apple to Pay $490 Million to Settle Investor Lawsuit
Shareholders had sued Apple over statements by CEO Tim Cook suggesting in late 2019 that the company wasn't seeing weakness in China.
Apple Acquired a Canadian AI Startup
Dozens of DarwinAI's employees have joined Apple's AI division, Bloomberg reported.
Microsoft Scraps Some Cloud Fees, Following Google and Amazon
The EU recently passed a law that will abolish egress fees for customers that want to leave a cloud provider entirely.
Weekday mornings
The Information AM by The Information Staff
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