Fidelity Cuts Twitter Valuation by 56%
The November filing values Fidelity’s holdings at $23.5 million
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Elon Musk Slashes Office Costs at Twitter
Twitter is closing its Seattle office and has cut spending on cleaning and security services at other locations as part of an effort to eliminate nearly $1 billion in annual, non-labor expenses.
Bahamian Regulators Seized $3.5 Billion of FTX Assets
The commission said that it will hold the tokens until it can return them to customers or to the joint provisional liquidators.
Workers On Edge As Google Cuts More Costs
Google is cutting more expenses, after reducing funding for an employee incubator and canceling other projects earlier this year.
Alibaba’s Cloud Computing Chief Steps Down
The change comes at a time when Alibaba Cloud, once the e-commerce giant's most promising business, has been grappling with slowing growth.
China Further Tightens Regulations For Online Education Sector
The move comes after China's ban on for-profit tutoring services last year dealt a severe blow to the country's online education sector.
Solana Token Plunges 30% in Past Week
Sam Bankman-Fried had close ties to Solana, having promoted and invested in several projects on the chain through FTX and his trading firm, Alameda Research.
Twitter Goes Offline Amid Data Center Shutdown
It’s unclear what caused the outages Wednesday
China Approves Imported Video Games For First Time in 18 Months
The move is the latest indication of how the Chinese government's regulatory crackdown on the country's online gaming sector may be easing.
Mastodon Founder Rejects Silicon Valley Funding Offers
Its German founder Eugen Rochko said he has has turned down more than five investment offers
TikTok Banned From Devices Managed by U.S. House of Representatives
This is the latest example of how TikTok, owned by Chinese internet giant ByteDance, is facing severe geopolitical headwinds in the U.S.
Tesla Shares Sink 11% After Shanghai Plant Closes
The share price drop continues a long slide in the value of Tesla shares, which are down 73% this year.
Tech Hiring Remained Hot Even During Layoff Frenzy
As layoffs ramped up in the tech industry between April and October, plenty of firms were still hiring.
Saudi Arabia Takes Control of Augmented Reality Firm Magic Leap
Magic Leap, once valued at more than $4 billion, has struggled to live up to the hype it built around its AR technology.
Apple Hit With $98 Million in Back Taxes in Japan
The additional taxes were likely related to bulk purchases of Apple products by resellers who abused Japan's duty-free shopping rules.
TikTok U.S. Sale Pushed by Some Biden Administration Officials
Pentagon and Justice Department officials are said to push a harder line on the Chinese-owned app.
China’s Imports of Chip-Making Equipment Fall Amid U.S. Restrictions
The drop comes after the Biden administration earlier this year introduced tighter restrictions on the export of advanced chip technologies to China.
China’s Estimates Show 37 Million Daily Covid Infections
The surge comes after Beijing made a sudden move to relax many of its pandemic restrictions, putting an end its draconian zero-Covid policy.
Microsoft Rebuts FTC Lawsuit, Says it Needs $69 Billion Activision Acquisition to Compete With Sony
Microsoft president Brad Smith said the company is confident in its case but is still open to “creative solutions with regulators.”
ByteDance Probe Finds Employees Accessed Journalists’ Data
The revelation could stoke criticism of ByteDance’s handling of user data.
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