Magic Leap to Lay Off Around 1,000 Employees
The hyped maker of augmented reality headsets is restructuring to focus on selling to businesses instead of consumers.
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Netflix to Tap Bond Market for Another $1 Billion
Netflix is raising money at an opportune time, as its subscriber growth has been juiced by pandemic related quarantines.
AT&T Sees Hit to Advertising, Theatrical Revenue Due to Coronavirus
AT&T anticipates further declines in pay TV subscribers in the second half of the year as people cut costs due to the economic downturn
Vice Planning Document Cites Hundreds of Potential Layoffs
Vice, like its peers, has to plan for worst-case scenarios as the coronavirus pandemic causes mass declines in advertising
Fortnite Maker Epic Games Seeks Up to $1 Billion in New Funding
The fundraising might help it meet increased demand for its games and services amid the coronavirus outbreak.
Facebook Invests $5.7 Billion for Stake in India’s Jio
The investment in Jio is Facebook’s largest to date and more than it paid to buy Instagram and Oculus, the VR headset maker, combined.
Expedia Likely to Sell Stake to Apollo, Silver Lake
The troubled online travel firm is discussing a deal to raise $1 billion from private-equity firms.
GM Shuts Down Car-Sharing Service as Covid-19 Accelerates Industry Struggles
Maven is the latest "sharing economy" victim of Covid-19's quarantines but it was already on its last legs.
Snap Posts Jump in Users, but Warns of Shrinking Revenue Growth
Looking ahead, the picture won’t be as rosy for the second quarter. Snap warned that revenue growth has weakened in April.
Netflix’s Subscriber Growth Surges in First Quarter
Netflix's stronger growth was expected, a result of how the pandemic lockdowns have made the video streaming service a must-have entertainment source.
Uber’s Bookings Now Down 80%
The question now is whether Uber's business will improve later this quarter as lockdown restrictions begin to be eased in the U.S. and Europe.
Facebook Leads Big Tech Spending in Washington
Facebook boosts spending in Washington amid increased antitrust scrutiny.
Google’s Quantum Hardware Leader Departs
John Martinis, a UC Santa Barbara professor who has been leading Google's quantum computing hardware work, had recently been demoted.
Google Makes Shopping Listings Free for Merchants
The move will provide merchants some relief during the global pandemic, and is another attempt by Google to rejuvenate its Shopping platform.
Palantir Expected to Delay IPO Plans
Peter Thiel's data analytics firm had earlier planned to file for an IPO this fall.
HBO Max to Launch May 27
WarnerMedia to join Quibi and NBCU's Peacock as the third streaming service to go live over the past few weeks.
Senate Approves Deal on $310 Billion for Small Businesses
The Senate deal provides $60 billion for companies that have struggled to get traditional loans from banks.
Facebook Removes Anti-Lockdown Protest Posts
Facebook’s decision to censor these posts is tricky because it has to balance free speech with public-health concerns and the spread of misinformation.
Huawei First-Quarter Revenue Growth Slows Amid Coronavirus
Huawei already was bracing for slower growth this year because of U.S. sanctions before the coronavirus hit.
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The Information AM by The Information Staff
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