Food Delivery App Deliveroo Cuts 2022 Sales Forecast
The London-based company's weaker forecast comes as the food delivery sector as a whole grapples with slower growth.
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Amazon Pulls Back on Private-Label Products
Following weak sales and increased regulatory scrutiny, Amazon is slashing the number of private-label products it sells under its house brands
China’s Second-Quarter GDP Slows Sharply on Covid Restrictions
It is unclear how quickly China's economy can recover as the country sticks to its draconian zero-Covid policy.
Alibaba Faces Questions From Chinese Authorities About Data Breach
After the theft of police data on 1 billion Chinese citizens, authorities are talking to executives of Alibaba's cloud division, which hosted the database.
Intel Warns Customers of Looming Chip Price Hikes
Intel, which is investing more than $40 billion in a series of new chip manufacturing factories in the U.S., is hiking prices for products like PC and server chips.
Activist Investor Elliott Management Takes Stake in Pinterest
Elliott holds a 9% stake in the social media company, according to a report
Stripe Cuts Internal Valuation by Nearly 30%
Stripe told employees last week that the value of their shares had declined from $40 to $29.
OpenSea Lays Off Roughly 20% of Staff
OpenSea joins Coinbase, Gemini and Crypto.com in announcing layoffs in recent weeks as crypto and NFT trading volume has fallen.
Troubled Crypto Lender Celsius Network Files for Bankruptcy
Among the creditors listed in Celsius bankruptcy filings are Pharos USD Fund, ICB Solutions, and Alameda Research.
Taiwan May Review Foxconn’s Investment In Chinese Chipmaker
Apple supplier Foxconn's plans to invest in struggling Chinese chip giant Tsinghua Unigroup would require approval by Taiwan's government.
Tesla Loses Head of Artificial Intelligence Amid High-Level Departures
AI head Andrej Karpathy and energy engineering lead Chris Rollins have stepped down.
Microsoft Wins Deal to Sell Ads for New Netflix Streaming Plan
Netflix named Microsoft as its advertising partner for its new lower-priced streaming service.
Microsoft Shakes up Azure Internet of Things Unit
Microsoft's Azure Internet of Things unit, which includes software for managing and analyzing data from internet-connected devices, has a new leader.
Unity to Buy Ad Tech Firm ironSource in $4.4 Billion Deal
The gaming giant is snapping up the app monetization company for 60% less than its SPAC deal listing price last year.
Alibaba’s Supermarket Unit Seeks $6 Billion Valuation in Fundraising
Alibaba's Hema unit, which was seeking a $10 billion valuation earlier, has lowered its target after China's Covid lockdown and a global stock rout.
Apple, Jony Ive End Consulting Arrangement
Ive, the iconic designer who left Apple in 2019, continued to work with the company as a consultant over the past three years.
Google Says It Will Slow Hiring for Rest of Year
Google joins other major tech companies in deciding to slow or freeze hiring ahead of an expected recession.
Crypto-Focused Multicoin Capital Announces $430 Million Fund
Multicoin joins a number of venture firms that have announced crypto-focused funds this year.
Startup Hugging Face Launches New AI Language Model
AI startup aims to establish an alternative to proprietary language models from companies like OpenAI and Google.
Twitter Sues Musk to Stop Him From Bailing On $44 Billion Deal
Twitter filed a lawsuit against the Tesla CEO to force him to honor his acquisition bid for the company.
Weekday mornings
The Information AM by The Information Staff
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