The Alibaba office building is seen in Nanjing, Jiangsu province, China, on Aug 28, 2024. CFOTO | Future Publishing | Getty Images Alibaba shares surged in Hong Kong Friday following stellar quarterly results, boosted by growth in the company’s cloud Intelligence and e-commerce segments. The Chinese tech giant’s shares soared as much as as 11%, … Read more
Signage at the Alibaba Group Holding Ltd. offices in Beijing, China, on Wednesday, March 29, 2023. Alibaba’s overhaul could serve as a template for a restructuring of China Tech itself: a shake-up that achieves Beijings aim of carving up the countrys tech titans while unlocking potentially billions of dollars in pent-up shareholder value. Bloomberg | … Read more
Walmart shares fell roughly 6% in early trading Thursday, as the big-box retailer said profit growth will slow this fiscal year even as sales continue to climb. Walmart said holiday-quarter revenue rose about 4% and e-commerce sales shot up 20% in the U.S., as growth in store pickup and home deliveries and gains with upper-income … Read more
Swedish Prime Minister Ulf Kristersson during a press conference on Jan. 17, 2025. Florian Gaertner | Photothek | Getty Images STOCKHOLM — Europe is at risk of becoming a “museum” if it doesn’t soften strict curbs on artificial intelligence technologies and deregulate, Sweden’s Prime Minister Ulf Kristersson said Thursday. “I think we really need to … Read more
The People’s Bank of China (PBoC) has set up a fintech committee. Zhang Peng | LightRocket | Getty Images China kept its key lending rates unchanged Thursday, as Beijing prioritizes financial stability over interest rate easing to bolster the economy. The People’s Bank of China held the 1-year loan prime rate unchanged at 3.1%, and … Read more
A general view outside the United Healthcare corporate headquarters on December 4, 2024 in Minnetonka, Minnesota. Stephen Maturen | Getty Images UnitedHealthcare is offering certain employees in its benefits operations unit the option to accept buyouts if they quit by March 3, following a tumultuous year for the insurance giant, CNBC has learned. Those who … Read more
FILE PHOTO: Elon Musk listens to U.S. President Donald Trump speak in the Oval Office of the White House in Washington, D.C., U.S., February 11, 2025. REUTERS/Kevin Kevin Lamarque | Reuters Trump Media and its fellow conservative-oriented social media company Rumble on Wednesday sued a Brazil Supreme Court justice whose clash last year with Elon … Read more
A view of the logo of HSBC bank on a wall outside a branch in Mexico City, Mexico June 14, 2024. Henry Romero | Reuters Europe’s largest lender HSBC on Wednesday announced a share buyback of up to $2 billion as its annual pre-tax profit rose 6.5%, helped by the sale of its banking business … Read more
The Singapore Parliament building. Prime Minister Lawrence Wong noted in his 2025 budget that while the country’s economy grew by more than 4% in 2024, it will be difficult to achieve that level of growth on a sustained basis. Bloomberg | Bloomberg | Getty Images Singapore on Tuesday unveiled steps to support households and businesses in … Read more
A law firm that represents Tesla and Elon Musk has written proposed legislation that would alter Delaware corporate law, according to a person directly familiar with the drafting of the bill who asked to remain unnamed in order to speak about the matter. The proposed legislation, drafted by Richards, Layton & Finger, or RLF, would … Read more