Alibaba Shares Slide After Revenue Warning
While many companies declined to make a forecast, Alibaba predicted growth to hit 28% this year, down from 35%. March already showed signs of a rebound.
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White House Considers Creating Panel to Investigate Social Platforms
The Trump administration has repeatedly accused online platforms of exhibiting bias toward conservatives.
HPE Cutting Jobs, Executive Pay After Rocky Quarter
HPE, which sells servers and storage hardware systems, unveiled a $1 billion cost-cutting plan after quarterly sales dropped 16%.
Universal Studios to Open in Early June—With Warnings
The theme park will have the first full reopening to the public after Disneyworld only opened its shopping district this week.
IBM Layoffs Likely in the Thousands
The cuts are the first under IBM’s new CEO Arvind Krishna, who took his post in April.
Google CEO Cautious About Major Shift to Remote Work
In an interview with Wired, Pichai said “it’s still too early to tell" how much his company will adapt longterm.
KKR Invests $1.5 Billion Into India’s Jio
KKR joins Facebook and Silver Lake Partners as the latest firm to invest in Jio Platforms, the digital arm of Indian conglomerate Reliance Industries.
China’s Online Grocery Missfresh Raising Nearly $500 Million
Online shopping got a huge boost after Covid-19 and investors are betting on several startups that compete with Alibaba.
House Bill Would Restrict Microtargeting in Online Political Ads
The House bill is an effort to curb misinformation by forcing political ads buyers to disclose more information.
Apple Reportedly Seeks Exec to Lead Original Podcasts
Apple has also begun acquiring original podcasts which are partly meant to help bolster the company’s video streaming service Apple TV+.
Nvidia’s Data Center Chip Sales Jump 80%
While Nvidia has long been known as a gaming company, its data center business is growing quickly.
Gap Turns to Warehouse Robots Amid Online Sales Shift
Startups that develop robotic arms for picking and placing items in warehouse are getting more attention from retailers in the Covid-19 pandemic.
Intercom Lays Off 6% of Employees
The software company is laying off 39 employees and relocating 49 others.
Waymo’s Chief Safety Officer Steps Down
It's the second departure of a senior executive at the Alphabet self-driving car division.
Magic Leap Raises $350 Million, Withdraws Layoff Notices
Magic Leap earlier said it would lay off about 1,000 employees, or about half its workforce, and focus on selling its augmented reality headsets to businesses.
Shopify, Spotify Say Workers to Stay Home Until at Least Next Year
"Office centricity is over," says Shopify CEO Tobi Lutke.
Facebook Begins Shift to Permanent Remote Workforce
The move is the strongest signal yet that the coronavirus pandemic will make lasting changes to how companies operate.
Senate Democrats Continue Attacks on Uber-GrubHub
Democratic lawmakers continue to raise concerns about a potential Uber-GrubHub deal in the midst of pandemic.
Amazon Postpones Prime Day Until September
The retail giant continues to grapple with a big increase in demand due to the coronavirus pandemic.
The Atlantic Cuts 17% of Staff
The publication has attracted 90,000 subscribers since March, but has seen huge drops in its events and advertising business amidst the coronavirus pandemic.
Weekday mornings
The Information AM by The Information Staff
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