Tesla Shanghai Plant’s Output Recovering As City Prepares to End Lockdown
The Shanghai plant has restored weekly output to nearly 70% of pre-lockdown levels, and Tesla expects to increase output further this week.
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SoftBank Group Cuts Compensation for Some Senior Executives
The cuts come as SoftBank, the world's largest tech investment firm, is suffering from the global stock market turmoil.
China’s State-Owned Automaker Mulls Investment in Didi Global
FAW Group has offered to help Didi address data security concerns so that the ride-hailing company could aim for a Hong Kong listing in the future.
SEC Confirms Scruitiny Elon Musk’s Initial Disclosure of Twitter Stake
The SEC is investigating the timing and type of Musk’s disclosure.
Twitter Board Rejects Shareholder Vote to Oust Silver Lake’s Durban
Durban will step down from other boards.
Chinese E-commerce App Pinduoduo Reports Better-Than-Expected Results
Pinduoduo's online ad revenue grew 29% despite economic headwinds, but supply chain disruptions due to Covid lockdowns create uncertainties for the sector.
China Tech Domestic IPOs Come With Steep Discounts
Tech companies are debuting on the domestic stock market at valuations much lower than their last private rounds of financing.
Chinese Factory Workers Rebel Against Covid Lockdown at Apple Supplier
Workers at Quanta Computer in Shanghai, which manufactures Apple MacBooks and other computers, have clashed with guards in protest of a two-month lockdown.
Cybersecurity Startup Lacework Lays Off 20% of Staff
Lacework, which was valued at $8.3 billion after its last funding in November, said the workforce reduction will help it weather economic uncertainty.
U.K. Competition Authority Opens New Google Investigation
The U.K.'s competition watchdog is probing Google's ad tech, which powers its core business
Broadcom to Acquire VMware for $61 Billion in Cash and Stock
In addition to being the largest-ever acquisition by a chipmaker, Broadcom's VMware acquisition is its biggest step into enterprise software.
Alibaba’s Revenue Beats Estimates But China Covid Impact Looms
The Chinese e-commerce giant continues to face challenges in the current quarter due to China's Covid lockdown affecting supply chains.
Apple to Raise Pay as Inflation and Unionization Loom
Apple told staff that it is raising minimum hourly wages at least 10% amid a tight labor market, inflation and employees efforts to unionize.
Chinese Ride-Hailing App T3 Seeks $750 Million as Didi Global Struggles
As Chinese ride-hailing giant Didi Global suffers from Beijing's regulatory assault, rival apps like T3 are looking to expand.
Musk Scraps Margin Loan, Committing Another $6 billion in Equity for Twitter Deal
It’s not yet clear where Musk will get the additional money.
Twitter to Pay $150 Million to Settle FTC Privacy Case
The settlement follows two years of negotiations and is unrelated to the takeover by Elon Musk.
Amazon Shareholders Reject 15 Proposals, Approve Stock Split
Faced with a whopping 15 investor-led proposals challenging Amazon’s business practices, a majority of Amazon shareholders voted not to rock the boat.
15,000 Startup Employees Were Laid Off in May
This week alone, thousands of jobs were cut at startups including Klarna, Getir and Gorillas.
Andreessen Horowitz Raises $4.5 Billion Crypto Fund
The launch comes amidst a downturn in crypto markets. But the firm is calling this moment a “golden era” for web3.
Google Must Defend Ohio Lawsuit Seeking to Regulate Company as ‘Common Carrier’
The case could block Google from prioritizing its own services in search results.
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.
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