SHANGHAI/NEW YORK (Reuters) – Chinese Internet entrepreneur Jack Ma is buying back up to half of a 40 percent stake in his Alibaba Group from Yahoo Inc for $7.1 billion, in a deal that moves the Chinese e-commerce leader closer to a public listing.
Archive for the ‘businessNews’ Category:
Markets regain ground but still edgy over Greece
TOKYO (Reuters) – Markets recovered some ground on Monday on value hunting after last week’s heavy losses, but investors remained wary over the euro zone despite world leaders calling for Greece to stay in the monetary union and for Europe to balance a…
Opel CEO to face heat from workers over likely plant closure
FRANKFURT, Germany (Reuters) – The head of General Motors unit Opel will face workers’ concerns on Monday over reported plans to shut one of its four German plants as the automaker pulls production of the Astra, its best-selling model, from the countr…
Ex-Goldman director faces U.S. jury in insider case
NEW YORK (Reuters) – Barely a day went by at the insider-trading trial of multimillionaire hedge-fund founder Raj Rajaratnam a year ago without mention of Rajat Gupta, a boldface name in business and charity circles.
Qantas to cut another 500 maintenance jobs
MELBOURNE (Reuters) – Australia’s top airline Qantas Airways said on Monday it is eliminating 500 jobs by merging maintenance facilities to save up to A$100 million ($98.4 million) annually, as high fuel costs and weak demand take a toll on airline pr…
Nasdaq to revamp system after tech problems on Facebook IPO: WSJ
(Reuters) – The Nasdaq is planning to revamp its systems for handling stock offerings after acknowledging that technology problems had affected trading in millions of newly issued Facebook shares on Friday, the Wall Street Journal reported.
G8 growth talk leaves wary markets awaiting action
(Reuters) – A pledge by leaders of industrialized nations to help the troubled world economy is unlikely to herald quick new action by Europe on its debt crisis, meaning more uncertainty for nervous financial markets.
Facebook faces crucial week after modest debut
NEW YORK (Reuters) – Newly issued shares in Facebook Inc may have a hard time in the coming week if lead underwriter Morgan Stanley stops supporting the stock and managers lower down in the IPO book who were hoping for an early surge decide to get out…
Australia to seal trade deal with Malaysia
CANBERRA (Reuters) – Australia will sign a free trade agreement(FTA) with Malaysia on Tuesday in a move it hopes will add new momentum to stalled bilateral trade talks with other key Asian trading partners.
Facebook stock seen facing crucial week after modest debut
NEW YORK (Reuters) – Newly issued shares in Facebook Inc may have a hard time in the coming week if lead underwriter Morgan Stanley stops supporting the stock and managers lower down in the IPO book who were hoping for an early surge decide to get out…
