Tag: Business/industry news
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Lyft hires new CEO as founders step back amid competitive battle
Lyft Inc., LYFT -2.74% struggles with competition and a battered stock price, taps a board member as CEO, and the two co-founders will step down from managing the company, the ride-sharing company said Monday. David Risher, who held management positions at Amazon.com Inc. and Microsoft Corp. before starting a non-profit children’s reading organization in 2009, […]
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Alibaba co-founder Jack Ma returns to China after a year’s absence
Jack Ma, Alibaba Group Holding Ltd. The billionaire co-founder has returned to mainland China after spending about a year abroad, according to people familiar with the matter. The travels of Mr. Ma have been the subject of intense scrutiny as China’s leadership scrambles to regain entrepreneurial confidence after years of regulatory and pandemic Covid-19 measures […]
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First Citizens Nearly Agree to Buy Silicon Valley Bank: Report
Last Updated: March 26, 2023 at 8:34 PM ET First published: March 26, 2023 at 7:57 p.m. ET First Citizens BancShares Inc. is close to a deal to acquire the bankrupt Silicon Valley Bank from the Federal Deposit Insurance Corp., according to a report late Sunday. Bloomberg News reported that a deal could be announced […]
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Why Chinese apps are the favorites of young Americans
Concerns surrounding TikTok in Washington are drawing new attention to how Chinese apps have interwoven into the lives of young Americans — and what makes them so popular. Four of the top five most popular apps in the US in March were counterfeited in China. Algorithms are often cited as their secret sauce. One facet […]
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Apple’s Tim Cook takes the stage in China with a welcome cheer
BEIJING – Apple from Inc AAPL 0.83% Tim Cook took the stage at an economic conference in Beijing sponsored by the Chinese government on Saturday and gave a buoyant speech that was welcomed with applause. The treatment his counterpart at TikTok received in Washington days earlier couldn’t have been more different: hours of questioning by […]
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We want to retire in about 5 years, but have $150,000 in credit card debt and loans and $1.4 million in retirement accounts – ‘we really want to be retired’
I am trying to get some outside guidance to be able to retire in the next 5 years Unpleasant 7 years. I amI have to work until I am 59 1/2 to use retirement funds. We have about $1.4 million in 401(k) and Roth accounts, $30,000 in stock, a rental house that we owe $245,000 […]
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Welcome to the Superprime banking crisis
Banks for rich people are different from other banks. They used to have more money. The latest banking crisis was characterized by subprime borrowers, particularly people with credit problems who obtained mortgages from bankers who ignored the risk that the borrowers would realistically not be able to pay them. Banks that got into trouble were […]
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Crypto faces legal reckoning as SEC prepares action against Coinbase
The SEC has informed Coinbase that it plans to sue the company for allegedly violating a series of investor protection laws, the company said this week. An eventual SEC lawsuit against the largest US crypto exchange could help determine the future shape of exchanging dollars for digital tokens such as bitcoin, ether or polkadot. It […]