Alibaba to split its empire into six units and seek IPOs

March 28 (Reuters) – Alibaba Group (9988.HK) plans to split its business into six main units covering e-commerce and the cloud in the biggest restructuring in its 24-year history, five of which, according to him, will explore fundraising or initial public offerings. . The six units are Cloud Intelligence Group, Taobao Tmall Commerce Group, Local … Read more

US mulls more support for banks while giving First Republic time – Bloomberg News

March 25 (Reuters) – U.S. authorities are considering extending an emergency lending facility that would offer more support to banks, in an effort that could give First Republic Bank (FRC.N) more time to shore up its balance sheet , reported Bloomberg News on Saturday. All deliberations are at an early stage and an expansion of … Read more

Rivian to move staff to Illinois EV plant to ramp up production – Reuters

March 24 (Reuters) – Rivian Automotive Inc (RIVN.O) is moving part of its manufacturing engineering team to Illinois to ramp up production, The Wall Street Journal reported on Friday, citing a person familiar with the matter. The reorganization, expected to be announced soon, would mean those working in manufacturing engineering would be asked to relocate … Read more

Exclusive: Walmart lays off hundreds of American workers at five e-commerce fulfillment centers

NEW YORK, March 23 (Reuters) – Hundreds of workers at Walmart’s five U.S. facilities that process e-commerce orders are told to find jobs within 90 days at other company locations, a doorman confirmed. -talk to Reuters. About 200 workers in Pedricktown, New Jersey, and hundreds more in Fort Worth, Texas; Chino, California; Davenport, Florida; and … Read more

Sanofi and Regeneron unveil data on smokers’ lung drugs

Drug meets primary objectives and all secondary objectives in COPD trial The previous peak sales estimate of 13 billion euros was without COPD The drug could be the first new COPD treatment in more than a decade March 23 (Reuters) – Sanofi’s (SASY.PA) asthma drug Dupixent has met all the targets in a trial to … Read more

Citigroup CEO says ‘this is not a credit crisis’ after US bank failures

March 22 (Reuters) – Citigroup Inc (CN) CEO Jane Fraser expressed confidence in U.S. banks on Wednesday after a series of shutdowns rattled investors and fueled turmoil in global financial markets. “The banking system is pretty solid,” and the major regional banks are well capitalized, Fraser told the Economic Club of Washington DC on Wednesday. … Read more

US SEC threatens to sue Coinbase over certain crypto products

March 22 (Reuters) – The U.S. Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc (COIN.O) over some of the crypto exchange’s products, mounting pressure on the largely unsettled industry. regulated. Coinbase shares fell nearly 13% to $67.33 in extended trading after the company said Wednesday that the regulator had issued it … Read more