Stay up to date with free updates Simply sign up for the Chinese Business & Finance myFT Digest – straight to your inbox. Alibaba boss Eddie Wu has strengthened his hold on the sprawling tech conglomerate, reshuffling management again to take direct control of its core e-commerce business as the company loses market share to … [Read more…]
Representatives from BlackRock (BLK), Nasdaq and the Securities and Exchange Commission (SEC) met for the second time in a month to discuss rule changes required for the listing of the Bitcoin (BTC) exchange-traded fund (ETF), a published Memo. “The discussion concerned NASDAQ Stock Market LLC’s proposed rule change regarding the listing and trading of shares … [Read more…]
Photo credit: Philippe Lopez/Getty Images Bird has filed for Chapter 11 bankruptcy, capping a turbulent year for the electric scooter company. In a press release today, Bird confirmed that the company had initiated a “financial restructuring process to strengthen its balance sheet” and that the company was continuing to operate as usual to pursue “long-term, … [Read more…]
LONDON, UK – September 2021: People seen eating al fresco in Soho in London in September 2021. SOPA images | LightRocket | Getty Images LONDON – Inflation in the United Kingdom fell more than expected, reaching 3.9% in November, the lowest annual level since September 2021. Economists polled by Portal had expected the overall consumer … [Read more…]
(Bloomberg) — European stocks rose and bond yields across the euro area fell on Wednesday as worsening economic data and easing inflation underscored expectations for interest rate cuts next year. Most read by Bloomberg Germany’s 10-year government bond yield fell below 2% for the first time in nine months after a report showed producer prices … [Read more…]
On a month-on-month basis, headline CPI fell 0.2%, compared to a consensus forecast of a 0.1% increase. The core CPI – which excludes volatile food, energy, alcohol and tobacco prices – came in at 5.1% annually, well below the forecast of 5.6%. According to the Office for National Statistics, the largest downward contributions came from … [Read more…]
Estimated reading time: 4-5 minutes SAN FRANCISCO – Alphabet’s Google will pay $700 million and revamp its Play app store to allow more competition as part of an antitrust settlement with U.S. states and consumers, according to the company’s filings in federal court in San Francisco on Monday Documents. Under the settlement, which still requires … [Read more…]
Among the many deals that have fallen through recently, Adobe’s $20 billion acquisition of Figma, an up-and-coming design software maker, is among the most telling. The companies had promised that it was a way to “launch a new era of collaborative creativity,” but regulators in three jurisdictions saw it as an unacceptable attempt by a … [Read more…]
Trader works on the spot where Alibaba trades on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 28, 2023. Portal/Brendan McDermid Brendan Mcdermid | Portal BEIJING – Alibaba Group CEO Eddie Wu is taking the leadership role at the company’s Taobao and Tmall e-commerce businesses, replacing Trudy Dai … [Read more…]
Comment on this storyCommentAdd to your saved storiesSave Pharmacy chain Rite Aid misused facial recognition technology in a way that subjected shoppers to unfair searches and humiliation, the Federal Trade Commission said Tuesday. This is part of a landmark agreement that could raise questions about the use of the technology in stores, airports and other … [Read more…]