(Reuters) – Alibaba Group Holding said on Tuesday that Eddie Yongming Wu, chairman of its Taobao and Tmall Group, will succeed Daniel Zhang as chief executive officer, in the company’s biggest executive reshuffle since its restructuring. The e-commerce giant announced in March it will split into six business units, each with its own CEO and…
(Reuters) – Beleagured U.S. medical technology company Surgalign Holdings filed for a voluntary Chapter 11 bankruptcy on Monday. Surgalign filed for the bankruptcy with estimated assets and liabilities in the range of $50 million to $100 million in the Bankruptcy Court for the Southern District of Texas. The Deerfield, Illinois-based company said in March that…
By Blake Brittain (Reuters) – Alphabet’s Google on Friday sued a Los Angeles man and his companies in San Jose, California federal court, claiming he created hundreds of fake business listings on its platforms and sold them to real businesses to lure in unsuspecting customers. Fake reviews have been a recurring problem on internet commerce…
SEOUL (Reuters) – Hyundai Motor will consider making its vehicles more readily compatible with the charging standard Tesla is pushing for in North America, the South Korean automaker’s CEO said on Tuesday. Tesla’s Superchargers make up about 60% of available U.S. fast chargers and Ford and General Motors have in recent weeks struck deals with…
NEW DELHI (Reuters) -Alphabet Inc’s Google has begun early conversations with domestic suppliers to move some production of its Pixel smartphone to India, Bloomberg News reported on Tuesday, citing people familiar with the matter. Global tech giants are eyeing India as a manufacturing hub, shifting away from China after strict COVID-related restrictions hindered production in…
LONDON(Reuters) – JPMorgan has made a strategic investment in Cleareye.ai, a financial technology firm focused on trade finance, the companies said on Tuesday. The parties, which entered into a commercial partnership last September, did not provide the financial terms of the transaction. Trade finance refers to financial products offered by banks and other institutions that…
MILAN (Reuters) – Carmaker Stellantis and iPhone assembler Foxconn have created a 50-50 joint venture to design and sell semiconductors for the automotive industry from 2026. The joint venture, called SiliconAuto, will supply Stellantis, including its new ‘STLA Brain’ electronic and software architecture, Foxconn and other customers, the two companies said in a statement. “SiliconAuto…
(Reuters) -Australia’s largest private health insurer Medibank Private on Tuesday said a file containing names and contact details of staff members had been compromised after its property manager faced a cybersecurity breach. The incident comes at a time when Medibank is dealing with the fallout of a cyber incident it faced in October, where data…
(Reuters) -European antitrust regulators are preparing to launch a formal investigation into software giant Adobe’s $20 billion buyout deal for cloud-based designer platform Figma later this year, the Financial Times reported on Tuesday. EU authorities plan to push forward with a detailed investigation, over anti-competition concerns, which could take many months and may ultimately derail…
By Sam Nussey TOKYO (Reuters) -SoftBank Group Chief Executive Masayoshi Son said on Tuesday he is a “heavy user” of ChatGPT, the artificial intelligence-powered chatbot from Microsoft backed startup OpenAI. “I am chatting with ChatGPT everyday – I am a heavy user,” Son told shareholders of the group’s telecoms subsidiary. Amid excitement over AI, Son…
