Tag: Technology

  • 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 […]

  • 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 […]

  • 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 […]

  • 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 […]

  • Stricter rules for banks after SVB collapse?

    Senator Tim Scott, RS.C., right, greets Michael Barr, off-camera, Vice Chairman for Oversight of the Board of Governors of the Federal Reserve System, at the Dirksen Building on Tuesday, March 28, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images This report comes from today’s CNBC Daily Open, our new newsletter for international markets. […]

  • Alibaba shares rise 15% in Hong Kong after major revision news

    Alibaba’s Hong Kong-listed shares rose during open day on Wednesday after the company announced a major overhaul to split the company into six business groups. The company said in its announcement that the move is intended to “unlock shareholder value”. Signage at the offices of Alibaba Group Holding Ltd. in Beijing, China, on Tuesday, January […]

  • Google that does not save chats in Epic case deserves sanctions, judge says

    Google “approved a ‘don’t ask, don’t tell’ policy for message retention, to the detriment of its retention obligations,” a federal judge said. The court has ordered Google to pay attorneys’ fees in connection with the dispute, but is still deciding on any legal remedies. A Google sign is pictured during the company’s presentation of a […]

  • 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 […]

  • Lucid is cutting 1,300 employees amid signs of declining demand for its electric cars

    Lucid said in a regulatory filing that it is cutting about 18% of its workforce, or about 1,300 employees. In a letter to employees, CEO Peter Rawlinson said the job cuts “will affect almost every organization and every level, including executives.” The company expects to incur $24 million to $30 million in costs associated with […]

  • Jack Ma’s life after Alibaba takes him to a fish farm, Fiji and beyond

    He was the boss of a tech giant. Now he studies fish and rice. After appearing to fall out of favor with China’s leadership following a 2020 speech criticizing financial regulation, Jack Ma, co-founder of Alibaba Group Holding Ltd. generally kept a low profile. Out of the public eye, the 58-year-old multi-billionaire, who stepped down […]