Alibaba’s Ant Group to Become a Financial Holding Company
The development comes after regulators imposed a $2.8-billion fine on Alibaba for violating anti-monopoly law.
JP Morgan’s Jamie Dimon Says Economic Boom Could Continue Into 2023
"Acquisitions are in our future, and fintech is an area where some of that cash could be put to work," said the JP Morgan chairman.
Credit Suisse Rearranges C-Suite
“The significant loss in our prime services business relating to the failure of a U.S.-based hedge fund is unacceptable.”
Biden Infrastructure Plan Includes Tax Increases
One of the main priorities of the tax part of the plan is raising the corporate rate to 28% from 21%, a partial reversal of Donald Trump’s 2017 tax cut.
Chip Supply Shortage Will Last Through 2022: Foxconn
The electronics manufacturer supplies big-name tech companies such as Apple, Alphabet, Amazon, and Microsoft.
Cazoo to Go Public in $7B SPAC Deal
The U.K. used-car seller will list on the NYSE by merging with blank check company Ajax.
WeWork to Go Public Via SPAC Merger in $9B Deal
The office-sharing startup is capitalizing on the SPAC boom following investor rejection of the IPO due to its losses.
Elon Musk Violated Labor Laws With 2018 Tweet
The National Labor Relations Board also ruled that Tesla violated labor laws when it fired a union activist in 2017.
GameStop Board to See Mass Departure
Chewy co-founder Ryan Cohen, who owns a 13% stake in the retailer through his RC Ventures, has been pushing for changes at the company.
Pre-Pandemic Job Levels Not Happening Until 2023: Economists
Still, 82% of NABE panelists forecast real U.S. GDP would return to pre-pandemic recession levels sometime this year.
GE Commits to Cutting Debt By 35% Within 3 Years
The U.S. industrial conglomerate provided more clarity on its debt plans to soothe investor nerves, sending shares up.