🗞️ Friday 5/10 News Roundup

Stay up to date with the latest news, brought to you by Capital Letter

Good morning! It's Friday, May 10th. Every Friday we will be highlighting the top news stories of the week that you might have missed!

FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to them.

Google's parent company, Alphabet, is reportedly considering an acquisition of HubSpot, a leading provider of marketing software, in a move to bolster its advertising and customer relationship management capabilities. Over the past year, HubSpot’s shared have surged by approximately 332%, elevating its market cap to $30 billion.

Uber's CEO cites the impact of remote work on the ride-hailing industry as a significant factor contributing to the company's recent financial losses, highlighting the challenges faced by transportation companies amidst shifting work patterns.

Despite a decline in share prices, Airbnb remains optimistic about a strong performance in the upcoming summer quarter, buoyed by expectations of increased travel activity driven by events like the Olympics, signaling potential recovery for the hospitality sector.

Disney and Warner Bros. Discovery announced plans to introduce a bundled subscription service, offering access to Disney+, Hulu, and HBO Max at a discounted rate, providing consumers with a comprehensive streaming entertainment package.

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