Twitter announces layoffs as CEO Dorsey looks to revive growth

The layoffs, primarily in the company's engineering and product functions, come a week after Dorsey took over as permanent CEO. Shares of Twitter, which had about 4,100 employees globally as of June 30, rose as much as 6.7 percent to $30.68 on Tuesday. “We feel strongly that engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce,” Dorsey said in a letter to employees

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Pandora says has paid $500 million in artist royalties in past year

(Reuters) – Internet radio service Pandora Media Inc said it paid nearly $500 million in artist royalties over the past 12 months, bringing the total to more than $1.5 billion in about 10 years. “It took us nearly nine years to generate the first billion dollars in royalties, and just over a year to increase that total by 50 percent,” Chief Executive Brian McAndrews said in a statement on Wednesday. Pandora gets revenue from advertising and paid subscriptions

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Charter lists consumer benefits to win merger approval

(Reuters) – Charter Communications Inc formally argued for regulatory approval for its Time Warner Cable Inc and Bright House Networks deals, saying consumers would benefit as Internet services would become cheaper and faster.

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