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Alibaba to Split Into Six Groups and Explore IPOs
The biggest structural overhaul in the Chinese tech company’s history comes a day after co-founder Jack Ma returned to mainland China. Source link
Stocks Slip Even as Concerns Fade Over Banks' Health
U.S. stock indexes opened lower Tuesday, while bond yields rose, as investors assessed whether the turmoil that had gripped parts of the global banking sector
Guinness Maker Diageo Appoints Its First Female CEO
The London-based maker of Johnnie Walker Scotch whisky and Smirnoff vodka said Debra Crew would take over from Ivan Menezes on July 1. Source link
Ex-FDA Official Says Baby-Formula Industry Remains Vulnerable to Problems
Politics Health Policy Poor internal communication hindered FDA’s response to crisis, former deputy commissioner says in congressional testimony Source link
First Citizens Adds to Its Collection of Failed Banks With SVB Purchase
The deal gives the North Carolina bank $219 billion in assets. Three years ago, it had $42 billion. The SVB purchase will give First Citizens
Carnival Forecasts Another Loss This Year as Cruise Costs Rise
Business Earnings Projected loss comes as Royal Caribbean, Norwegian Cruise expect to post profits this year Source link
U.S. and Japan Strike Deal on Minerals Used in Batteries for Electric Cars
Politics Move aims at China’s supply-chain dominance and Japan meeting requirements on EV subsidies in the U.S. Source link
Disney Eliminates Its Metaverse Division as Part of Layoffs Plan
The unit, once seen as developing a new form of storytelling, had about 50 employees. Source link
Lyft Hires New CEO as Founders Step Back
David Risher, board member since 2021, will succeed co-founder Logan Green, as Lyft faces tough competition from Uber and a battered stock price. Source link
Facebook Parent Plans Lower Bonus Payouts for Some Staff
Meta Platforms plans to adjust its performance review process, saying it is ‘optimizing’ for the year ahead. Source link