10 things in tech you need to know today

Kevin SystromFortune Brainstorm TechInstagram CEO Kevin Systrom.

Good morning! Here’s the technology news you need to know this morning.

1. Apple won’t do major iPhone redesigns every two years anymore. The iPhone coming out in September is unlikely to have major changes from the iPhone 6S.

2. Tesla offered to buy SolarCity for almost $3 billion (£2 billion.) SolarCity is the struggling solar-power company also cofounded by Elon Musk.

3. Twitter has a bunch of new video features to help it fight Facebook and Snapchat. The company is rolling out a new video-only section of its app.

4. Instagram has hit 500 million users. The average time spent on the service is 21 minutes per day.

5. Faraday Future received approval to test its self-driving electric cars in California. The tests will start later this year.

6. Tencent officially acquired “Clash of Clans” developer Supercell for $8.6 billion (£5.8 billion.) It’s buying a majority stake from SoftBank.

7. Startup bank Number26 just raised $40 million (£27 million) from investors including Hong Kong billionaire Li Ka-Shing. The company now has 200,000 customers.

8. Startup bank Mondo has to raise at least £15 million to get its banking licence. It’s in the process of applying for its full licence and hopes to have a “restricted licence” within two or three months.

9. Rovio’s “Mighty Eagle” has left the company. Peter Vesterbacka was a global ambassador for the “Angry Birds” developer.

10. SoftBank president Nikesh Arora is leaving the company. He had been named as a likely contender to be the next CEO.

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