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  • Disney lays off more than 300 streaming-focused employees in China

    Walter Disney Co. DIS 2.16% has laid off more than 300 Beijing employees working on its streaming services, according to people familiar with the situation, as part of a cost-cutting and restructuring effort at the entertainment company. The layoffs in China come after Disney this week began implementing the first wave of cuts in a […]

  • UBS brings back former CEO Sergio Ermotti after deal with Credit Suisse

    Mr. Ermotti led UBS for nine years until 2020 and is credited with the bank’s recovery from a government bailout in 2008. He will succeed current CEO Ralph Hamers, who has led the bank for the past three years, on April 5 . “We felt we had a better horse,” said UBS chairman Colm Kelleher […]

  • Micron is reporting its biggest loss ever, but its stock gains, execs say, have reached stock trouble

    Micron Technology Inc. reported its biggest quarterly loss ever due to a stock write-down of more than $1.4 billion on Tuesday, but shares held firm as executives suggested the memory market may be bottoming out. “We now believe that customer inventories have declined in several end markets and we see the balance between supply and […]

  • Disney is eliminating its Metaverse division as part of the company’s layoff plan

    Mickey Mouse has left the metaverse. Walter Disney Co. DIS 1.64% has eliminated its next-generation storytelling and consumer experience division, the small division that people familiar with the situation said was working on metaverse strategies, as part of a broader restructuring that is expected to reduce company-wide workforce by approximately 7,000 over the next two […]

  • 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, […]

  • 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 […]

  • 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 […]

  • Coinbase Ex-Executive Convicted Of Insider Trading Is Crypto’s Latest Legal Hope

    Ishan Wahi, a former executive at Coinbase, pleaded guilty this year to giving trading tips to his brother and a college friend that generated nearly $1.5 million in illegal profits. As an Indian immigrant, he could serve more than three years in prison and be deported over time. But Mr. Wahi is still fighting the […]

  • 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 […]

  • Twitter offers new stock exchanges to staff

    Twitter Inc. is offering new equity grants to staff who vest after six months, according to an email sent late Friday, which was reviewed by The Wall Street Journal. The company plans to offer a liquidity event in about a year, where employees can cash in some of their equity, the email shows. The number […]