SoftBank Group Corp said on Monday that Alibaba co-founder Jack Ma will resign from its board, in the latest departure by a high-profile ally of CEO Masayoshi Son.
The United States needs to quickly revise its coronavirus aid program for small businesses to extend the eight-week period in which the law currently requires companies to spend the money, a key U.S. senator said on Sunday.
Oil prices jumped by more than $1 a barrel on Monday to their highest in more than a month, supported by ongoing output cuts and signs of gradual recovery in fuel demand as more countries ease curbs imposed to stop the coronavirus pandemic spreading. The world’s top exporter Saudi Arabia announced last week that it would cut an additional 1 million barrels per day in June, while OPEC+ wants to maintain existing oil cuts beyond June when the group is next due to meet. …read more […]
Virgin Australia Holdings Ltd’s administrators have short-listed potential buyers BGH Capital, Bain Capital, Indigo Partners and Cyrus Capital Partners, a source with knowledge of the matter said on Monday.
SoftBank Group Corp said on Monday that Alibaba co-founder Jack Ma will resign from its board, in the latest departure by a high-profile ally of CEO Masayoshi Son. The departure of Ma, who retired as Alibaba’s executive chairman in September, comes as he pulls back from formal business roles to focus on philanthropy. The number of board members will expand to 13. …read more […]
Asian shares crept ahead on Monday and oil prices hit a five-week high as more countries re-opened their economies, stirring hopes the world was nearer to emerging from recession. “The economies of Europe and the U.S. likely bottomed out in April and are slowly starting to come back to life,” wrote Barclays economist Christian Keller in a note. “However, incoming data from most economies highlight the depth of the contraction, raising risks of longer-term scarring that might undermine the recovery.” …read more […]
The president of General Motors Co’s Mexican unit advised suppliers to prepare to resume operations after the Mexican government said the automotive industry could exit the coronavirus lockdown before June 1 with adequate safety measures.
(Bloomberg) — Since its founding more than three decades ago, Taiwan Semiconductor Manufacturing Co. has built its business by working behind the scenes to make customers like Apple Inc. and Qualcomm Inc. shine. Now the low-profile chipmaker has landed squarely in the middle of the U.S.-China trade war, an incalculably valuable asset that both sides are vying to control.The Trump administration opened up a new front in the conflict on Friday by barring any chipmaker using American equipment from supplying China’s Huawei Technologies Co. without U.S. government approval. That means TSMC and rivals will have to cut off Huawei unless …read more […]
Oil prices jumped by more than $1 a barrel on Monday to their highest in more than a month, supported by ongoing output cuts and signs of gradual recovery in fuel demand as more countries ease curbs imposed to stop the coronavirus pandemic spreading.
Shares of SK Hynix , the world’s No.2 memory chip maker after Samsung Electronics , fell 3.2% on Monday after the United States on Friday moved to curb shipments of semiconductors to Huawei from global chipmakers.
May.17 — Jane Golley, director of the Australian Centre on China in the World at Australian National University, discusses the rising tensions between the two countries. After Prime Minister Scott Morrison’s government last month initiated calls for an independent probe into the origins of the coronavirus pandemic, Beijing responded by claiming Australia was doing U.S. President Donald Trump’s bidding. Golley speaks on “Bloomberg Daybreak: Asia.” …read more […]
Asian shares crept ahead on Monday and oil prices hit a five-week high as more countries re-opened their economies stirring hopes the world was nearer to emerging from recession.
(Bloomberg) — SoftBank Group Corp. doubled the amount it plans to spend buying back shares and announced changes to its board, including the resignation of long-time director Jack Ma.The company plans to repurchase as much as 500 billion yen ($4.7 billion) worth of its own stock by March 2021, it said in a statement. That’s on top of an equally sized re-purchase it had announced in mid-March.The Tokyo-based company also announced several changes to its board, including the departure of Ma, the co-founder of Alibaba Group Holding Ltd. Three new directors have been nominated, including Chief Financial Officer Yoshimitsu Goto. …read more […]
SoftBank Group Corp said on Monday that Alibaba co-founder Jack Ma will resign from its board, in the latest departure by a high-profile ally of CEO Masayoshi Son.
(Bloomberg) — Apple Inc. said it’s reopening more than 25 stores across seven U.S. states this week, adding to nearly 100 global locations that have reopened to customers after the Covid-19 pandemic forced them to close. Some stores will offer only curbside or storefront service, the company added in an email statement.In a letter to customers by Deirdre O’Brien, Apple’s senior vice president for retail and people, the company said it’s “focused on limiting occupancy and giving everybody lots of room,” with a renewed emphasis on one-to-one service throughout each store. There’ll be temperature checks conducted at the door and …read more […]
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