SHANGHAI (Reuters) -Ant Group’s founder Jack Ma will no longer control the Chinese fintech giant after the firm’s shareholders agreed to implement a series of adjustments that will see him give up most of his voting rights, the group said on Saturday. The move marks another big development after a regulatory crackdown that scuppered Ant’s…
SHANGHAI (Reuters) – China’s Ant Group said on Saturday that its founder Jack Ma no longer controls the Chinese fintech giant after a series of shareholding adjustments that saw him give up most of his voting rights. Ma previously possessed more than 50% of voting rights at Ant but the changes means that his share…
By Isabel Woodford MEXICO CITY (Reuters) – The leaders of the United States, Canada and Mexico are due to hold a summit next week, where a major bone of contention could be a dispute centering on whether Mexico breached a trade pact by tightening state control of its energy market. WHERE DOES THE DISPUTE STAND?…
(Reuters) – Salesforce Inc is looking to cut costs by $3 billion to $5 billion, Chief Executive Marc Benioff told company insiders this week after announcing layoffs, Fortune reported citing an audio recording of a meeting. (Reporting by Akash Sriram in Bengaluru; Editing by Shailesh Kuber)
By Kylie Madry MEXICO CITY (Reuters) -The Mexican government signed a deal with several aviation unions Friday to purchase the brand of the defunct Mexicana airline for 811.1 million Mexican pesos ($42.41 million), a union spokesman told Reuters. The deal includes rights to use the airline’s brand and the purchase of two buildings, a technical…
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. economy added jobs at a solid clip in December, pushing the unemployment rate back to a pre-pandemic low of 3.5% as the labor market remains tight, but Federal Reserve officials could draw some solace from a moderation in wage gains. Still, the U.S. central bank’s fight against…
By Hilary Russ NEW YORK (Reuters) -Burger chain McDonald’s Corp said on Friday that it will review corporate staffing levels and aim to build more restaurants as part of an updated business strategy. The new plan, announced in a letter from Chief Executive Officer Chris Kempczinski to global employees and seen by Reuters, calls for…
By Deena Beasley (Reuters) -The U.S. Food and Drug Administration on Friday approved the Alzheimer’s drug lecanemab developed by Eisai Co Ltd and Biogen Inc for patients in the earliest stages of the mind-wasting disease. The drug, to be sold under the brand Leqembi, belongs to a class of treatments that aims to slow advance…
By Koh Gui Qing NEW YORK (Reuters) -Wall Street sparked a global rally in stocks on Friday after a crucial U.S. jobs report showed wage growth slowed in December, fuelling investor bets that inflation is easing and that the Federal Reserve need not be as aggressive as some feared. Friday’s data showed the U.S. economy…
By Ankika Biswas and Shubham Batra (Reuters) -Wall Street’s main indexes rallied on Friday as data that showed cooling wages and a contraction in U.S. services activity eased worries over the Federal Reserve’s rate-hike trajectory. The nonfarm payrolls rose by 223,000 jobs in December, data from the Labor Department showed, while a 0.3% rise in…
