(Reuters) – Alibaba Group Holding Ltd’s cloud unit has started a round of job cuts that could slash its staff by about 7% as it prepares for an IPO, Bloomberg News reported. China’s largest cloud service has started to offer severance to employees or transfers to other units, the report said citing a person familiar…
By Helen Coster and Dawn Chmielewski NEW YORK (Reuters) – When the HBO Max streaming service relaunches on Tuesday as “Max,” Warner Bros Discovery Inc will learn whether mixing critically acclaimed dramas with reality fare that some might describe as a “guilty pleasure” will attract more subscribers. “Max” will bring together HBO’s high-end scripted programming…
A look at the day ahead in U.S. and global markets from Mike Dolan Amid all the hand-wringing over the debt ceiling row and background banking anxiety, the U.S. economy is holding up well enough to embolden Federal Reserve hawks once again. Assumptions about first-quarter and full-year S&P500 aggregate earnings contractions are being revised away…
By Phuong Nguyen and Francesco Guarascio HANOI (Reuters) – Vietnamese property giant No Va Land Investment Group Corp is in talks with creditors to restructure part of its $1 billion foreign debt, according to two people familiar with the matter, amid turmoil in one of the country’s top industries. Those creditors include Credit Suisse, according…
By David Shepardson WASHINGTON (Reuters) -TikTok Inc on Monday filed a lawsuit challenging the state of Montana’s new ban on use of the Chinese-owned app, the first state to bar the popular short-video sharing service. TikTok argues the ban, which would take effect on Jan. 1, violates First Amendment rights of the company and…
By Jonathan Cable LONDON (Reuters) -Euro zone business growth remained resilient but slowed slightly more than thought this month as the bloc’s dominant services industry lost a little of its shine and the downturn in the manufacturing sector deepened, a survey showed on Tuesday. HCOB’s flash Composite Purchasing Managers’ Index (PMI) for the bloc, compiled…
SHANGHAI (Reuters) – Chinese money is pouring into Japan-focused stock funds as the Nikkei hits 33-year highs, triggering repeated warnings from fund managers about market risks. Two Shanghai-listed exchange-traded funds (ETFs) that track the Nikkei 225 Index have drawn such feverish interest, that their prices far exceed their net asset value. The ETFs’ managers, E…
SHANGHAI (Reuters) – Chinese money is pouring into Japan-focused stock funds as the Nikkei hits 33-year highs, triggering repeated warnings from fund managers about market risks. Two Shanghai-listed exchange-traded funds (ETFs) that track the Nikkei 225 Index have drawn such feverish interest, that their prices far exceed their net asset value. The ETFs’ managers, E…
By Olena Harmash KYIV (Reuters) – An International Monetary Fund mission started work on Tuesday on the first review of a $15.6 billion loan program that it approved in March, the Ukrainian finance ministry said. The IMF’s four-year program for Ukraine is part of a $115-billion global package to support the country’s economy as it…
By Karen Lema MANILA (Reuters) – The World Bank will press for more grants and new capital from member countries, even as it leverages its balance sheet to scale up lending for responses to climate change and other global crises, its managing director of operations said on Tuesday. The lender will rally donor support for…
