After the collapse of SVB, stricter rules for banks?

Sen. Tim Scott, RS.C., right, greets Michael Barr, off camera, vice chairman for oversight of the Board of Governors of the Federal Reserve System, in the Dirksen Building on Tuesday, March 28, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images This report is from today’s CNBC Daily Open, our new international markets newsletter. … Read more

Alibaba shares rose 15 percent in Hong Kong after the major overhaul

Alibaba’s Hong Kong-listed shares rose at the open on Wednesday after the company announced a major overhaul to split the company into six business groups. The company said in a release that the change is intended to “unleash shareholder value.” Signs at Alibaba Group Holding Ltd offices in Beijing, China, Tuesday, January 17, 2023. Bloomberg … Read more

Judge says Google’s failure to preserve conversations in Epic case deserves sanctions

Google “adopted a ‘don’t ask, don’t tell’ approach to retaining messages at the expense of its retention obligations,” a federal judge said. The court ordered Google to pay legal fees related to the dispute, but is still deciding on remedies. A Google sign is pictured as the company presented Germany’s detailed investment plan outside Google’s … Read more

Jack Ma’s life after Alibaba takes him to a fish farm in Fiji and beyond

He was the boss of a tech giant. Now he studies fish and rice. Jack Ma, the founder of Alibaba Group Holding, appeared to have fallen out of favor with China’s leadership after a 2020 speech in which he criticized financial regulations. Ltd. has generally kept a low profile. The 58-year-old multi-billionaire, who resigned as … Read more

Alibaba is divided into six groups and explores IPOs unlike the Jack Ma era

Chinese e-commerce giant Alibaba Group Holding Ltd. BABA 13.24% said it plans to split itself into six independently run companies that could seek separate IPOs, effectively breaking up the business empire that charismatic entrepreneur Jack Ma built over two decades, just as Tycoon re-emerged in China. The reorganization of one of China’s biggest private companies, … Read more

Apple Pay Later will be released in the United States

On Tuesday, Apple introduced Apple Pay Later, which allows users to split their purchases into four payments over six weeks. Apple Pay Later users can manage, track and repay their loans in their Apple Wallet, the company said in a press release on Tuesday. Individuals can apply for Apple Pay Later credits ranging from $50 … Read more

AI automation could affect 300 million jobs – here are which ones

According to a Goldman Sachs report, artificial intelligence could automate up to a quarter of work in the United States. Dowell | A moment | Getty Images As AI products like ChatGPT strive to become a part of our everyday lives and we learn more about their power, there’s one thing on everyone’s mind: how … Read more

Disney is eliminating its Metaverse division as part of the company’s layoff plan

Mickey Mouse has left a metaverse. Walt Disney C/o. DIS 1.64% has eliminated its next-generation storytelling and consumer experience unit, a small division that developed metaversal strategies, according to people familiar with the situation, as part of a broader restructuring that is expected to reduce staffing by about 7,000 people across the company. the next … Read more

Virgin Orbit continues unpaid break as contract collapses, talks continue

NEWQUAY, ENGLAND – JANUARY 9: A general view of Cosmic Girl, a Boeing 747-400 carrying a LauncherOne rocket under its left wing, as final preparations are made at Cornwall Airport in Newquay on January 9, 2023 in Newquay, United Kingdom. Virgin Orbit launches its LauncherOne rocket from Cornwall Spaceport, the first orbital launch from the … Read more

Disney layoffs begin this week, Bob Iger says in a memo

Bob Iger, CEO of Disney, in an interview with CNBC on February 9, 2023. Randy Shropshire | CNBC Disney will begin layoffs this week, the first of three rounds before the start of summer, resulting in about 7,000 job cuts, according to a memo sent by CEO Bob Iger. The cuts are part of a … Read more