Mere days after Chinese regulators hit Jack Ma’s Alibaba with a staggering $2.8 billion antitrust fine, the e-commerce giant’s sister company, Ant Group, announced “that it would undertake a sweeping, government-ordered...more
Markets gave a warm welcome to the Biden administration on Wednesday, as strong tech performance and hopes of “large-scale economic stimulus” helped power an across-the-board rally that brought all three major U.S. indices...more
Thursday’s unemployment figures showed technically falling claims (down to 723,000 new claims for state benefits) but “remained above records set in previous recessions,” as the number of “laid-off and furloughed workers...more
Uber Technologies Inc. will eliminate 3,700 jobs. This equates to the company shedding a quarter of its workforce. Rumors are also circulating that Uber “is in talks to buy rival Grubhub Inc.”....more