Ant-linked firms’ shares rise after news of Jack Ma ceding control; Alibaba jumps
Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overhaul.
Oil rises on demand optimism as China borders reopen
Oil prices climbed more than 2% on Monday as China’s move to reopen its borders boosted the demand outlook and overshadowed global recession concerns.
Swiss National Bank posts record $143 billion loss in 2022
The Swiss National Bank posted an annual loss of 132 billion Swiss francs ($143 billion) in 2022, it said on Monday, the biggest in its 115-year history as falling stock and fixed-income markets hit the value of its share and bond portfolio.
Dell looks to phase out China-made chips by 2024 – Nikkei
Dell Technologies Inc plans to stop using China-made chips by 2024 and has told suppliers to reduce the amount of other made-in-China components in its products amid concerns over U.S.-Beijing tensions, the Nikkei reported on Thursday.
Dollar hits four-week peak on resilient U.S. jobs market
The dollar held near an almost one-month high on Friday, after U.S. economic data highlighted a still-tight labour market that could keep the Federal Reserve on its aggressive rate hike path.
Shell LNG trading provides quarterly boost despite output drop
Earnings from Shell’s liquefied natural gas (LNG) trading operations are likely to have been significantly higher in the fourth quarter of last year despite a sharp output drop owing to plant outages, it said on Friday.
Goldman Sachs dealmakers see M&A recovery in second half of 2023
Goldman Sachs Group Inc’s top dealmakers are bullish on a recovery in global mergers & acquisitions (M&A) in the second half of 2023 despite a slowdown in economic growth and a weak credit market.
Oil rebounds after biggest drop in decades at start of year
Oil rebounded on Thursday after posting the biggest two-day loss for the start of a year in three decades with the shutdown of a U.S. fuel pipeline providing support, though economic concerns capped gains.
Sony, Honda roll out prototype of ‘Afeela’ EV that uses Qualcomm tech
Japan’s Sony on Wednesday unveiled a prototype of the new “Afeela” electric vehicles it will build together with Honda, saying it would harness its vast entertainment content as it looks to become a player in next-generation cars.
Salesforce to cut 10% of workforce after hiring “too many people”
Salesforce Inc said it plans to cut jobs by 10% and close some offices, after rapid pandemic hiring left it with a bloated workforce amid an economic slowdown.
