TNB Tech Minute: Trump Media Halts Spinoff of Truth Social

**SPEAKER_1** (0:00)
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**Julie Chang** (0:33)
Here's your afternoon TNB Tech Minute for Wednesday, June 10th. I'm Julie Chang for The Wall Street Journal. Trump Media and Technology says it's no longer trying to spin off truth social. After Trump Media announced in December a plan to combine with nuclear fusion firm TAE Technologies, executives said they were trying to split assets, including the business's social media arm, into a separate company through a SPAC deal. Trump Media said it still hopes to complete the TAE merger this year, but that the parties have decided not to continue pursuing the spin-off of truth social at this time. Trump Media shares are down roughly 38 percent this year. Its stock slipped over 2 percent today.
Shares of Swedish autonomous truck company Enride have surged nearly 60 percent in its NASDAQ debut today. Last week, shareholders approved a merger with US-back in a transaction that valued Enride's equity at $1.35 billion before proceeds from the deal. Enride develops electric self-driving freight vehicles and software platforms. It serves customers across North America, Europe and the Middle East. The company raised $113 million earlier this year.
Finally, online shopping platform Shopee is cutting jobs. People familiar with the matter say Shopee is trimming its workforce as the company pivots toward AI. The company is Southeast Asia's largest e-commerce platform and accounts for more than two-thirds of Singaporean tech firm C's revenue. Sources say the layoffs started this week and have affected the app development, product and commercialization teams. Some teams were cut entirely while others experienced staff reductions of 10 to 15%.
A Shopee spokesperson said the company regularly assesses its staffing needs as it reviews operations. And that's your TMB Tech Minutes. Check back in the morning for another Quick Tech Update.

**SPEAKER_1** (2:29)
The browser is your business' first line of defense against online threats. Keep your employees and data safe with Chrome Enterprise, the most trusted enterprise browser. Create controls that enforce company policies, like rules that prevent employees from printing, pasting or sharing company data. Access in-depth reports that show the apps and extensions your employees are using and where data is going and coming from. And prevent phishing and malware attacks from reaching your employees with automatic proactive protections. Visit chromeenterprise.google to learn more.