Tag: business news
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Beijing seems to be easing its controls on giants like Alibaba
Alibaba’s sweeping reorganization is seen as a sign that the Chinese government could relax its intense scrutiny of the domestic technology sector. Alibaba founder Jack Ma returned to public engagements, in another welcome sign for investors. China is targeting 5% growth this year, after two years of its economy battered by Beijing’s strict Covid policies […]
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Google’s reorganization into Assistant follows the launch of Bard, the memo says
Google CEO Sundar Pichai speaks onstage at the annual Google I/O developer conference in Mountain View, California, May 8, 2018. Stephen Lam | Reuters Google is rearranging the reporting structure of its virtual assistant unit — called Assistant — to focus more on Bard, the company’s new artificial intelligence chat technology. In a memo to […]
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Ed Yardeni says the S&P 500 could rise double digits to finish the year at 4,600
Market veteran Ed Yardeni believes the S&P 500 can still post double-digit gains this year despite the banking crisis and fears of a hard landing. “This banking crisis is going to be very well controlled by both the Fed and the FDIC. And at the same time, I think it’s going to keep the Fed […]
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company to cut 800 employees, or 6% of the workforce
Electronic Arts said on Wednesday it is laying off 6% of its workforce and reducing office space. “As we focus our portfolio, we are moving away from projects that don’t contribute to our strategy,” CEO Andrew Wilson wrote in a note to employees. An Electronic Arts (EA) video game logo is on display at the […]
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Stocks making the biggest moves in the afternoon: LULU, MU, CCL, CALM
A display of a Canadian sportswear retailer’s Lululemon logo in one of their stores. Alex Tai | LightRocket | Getty Images Check out the companies making headlines in Wednesday afternoon trading. Lululemon – Shares of the athletic apparel company rose more than 13% after the company reported strong quarterly earnings and earnings that beat Wall […]
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5 things you need to know before the stock market opens on Wednesday, March 29
The run on Silicon Valley Bank could have been worse. The FBI accused Sam Bankman-Fried of bribing at least one Chinese official. Starbucks Senator Bernie Sanders and Howard Schultz face each other at a Senate hearing. Here are the most important news items investors need to start their trading day: The market is in a […]
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Bitcoin (BTC) climbs to $28,000 as traders shrug at regulatory crackdown
Bitcoin is up 50% so far in 2023, beating major commodity and stock indices. Industry insiders said the bank’s collapse has sent investors looking for alternatives to the traditional banking system and a slowdown in rate hikes is also anticipated, helping bitcoin. Filip Radwański | Sopa Images | Rocket | Getty Images Bitcoin rallied on […]
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Jeff Gennette, CEO of Macy’s, will retire in early 2024
Jeff Gennette, CEO of Macy’s. Getty Images Macy’s CEO Jeff Gennette will retire early next year after a four-decade career with the company, the department store chain announced Wednesday morning. Gennette, 61, plans to step down in February. He will be succeeded by Tony Spring, CEO of Bloomingdale’s, the company’s higher-end department store brand. In […]