Sources: Klarna is aiming to raise up to $1B at valuation of around $30B, a ~30% drop from its $46B valuation in its last round led by SoftBank's Vision Fund 2 (Wall Street Journal)

Wall Street Journal:
Sources: Klarna is aiming to raise up to $1B at valuation of around $30B, a ~30% drop from its $46B valuation in its last round led by SoftBank's Vision Fund 2  —  Buy-now-pay-later startup, valued last year at $46 billion, could see its valuation fall by one-third in a tough environment for tech companies

J.P.Morgan downgrades India's IT sector as pandemic boom fades

The $194-billion sector whose software services helped businesses adopt to pandemic-era practices of online shopping and remote working is facing a demand slowdown this year as employees return to offices and the Russia-Ukraine war weighs on spending from clients in Europe. https://ift.tt/fCr2vUX

Not planning to block YouTube, says Russia

Russia is not planning to block Alphabet Inc's YouTube, the minister for digital development said on Tuesday, acknowledging that such a move would likely see Russian users suffer and should therefore be avoided. https://ift.tt/XhHnAMk

Amazon launches Smart Commerce in India, helping stores create online storefronts and offering tools for billing and inventory management (Manish Singh/TechCrunch)

Manish Singh / TechCrunch:
Amazon launches Smart Commerce in India, helping stores create online storefronts and offering tools for billing and inventory management  —  Amazon said it will help neighborhood stores across India launch their own digital storefronts to better serve their customers, the latest effort …

Ericsson to reshuffle operations, two executives to depart

Ericsson on Wednesday laid out plans to restructure its operations to focus on business customers and mobile infrastructure, announcing two senior executives will leave the company. https://ift.tt/Naq5LIf

Tencent misses estimates with ~$20.1B in Q1 revenue, up 0% YoY, as net income dropped 51% YoY to ~$3.5B; Tencent has lost ~$500B in value since its 2021 peak (Zheping Huang/Bloomberg)

Zheping Huang / Bloomberg:
Tencent misses estimates with ~$20.1B in Q1 revenue, up 0% YoY, as net income dropped 51% YoY to ~$3.5B; Tencent has lost ~$500B in value since its 2021 peak  —  Tencent Holdings Ltd. posted its slowest revenue gain on record, after a sweeping government crackdown and Chinese economic malaise …