BEIJING, March 18 (Reuters) - Freshippo, the groceries arm of e-commerce giant Alibaba Group, told staff that its CEO Hou Yi would retire, according to an internal letter seen by Reuters on Monday.
Current CFO Yan Xiaolei will take on the CEO role, while Hou will continue as consultant to the company, the letter said. (Reporting by Sophie Yu, Brenda Goh, Editing by Louise Heavens)
(Bloomberg) -- A seven-week tug of war over Petrobras’s dividends wound up with the company delivering a 22-billion-reais ($4.3 billion) payout to investors. Most Read from BloombergJavier Milei Fuels Wild Rally That Makes Peso No. 1 in WorldUS Economy Slows and Inflation Jumps, Damping Soft-Landing HopesPlunging Home Prices, Fleeing Companies: Austin’s Glow Is FadingHuawei’s New Phone Runs Latest Version of Made-in-China ChipMalaysia in Talks With Tycoons on Casino to Revive $100 Billion Forest
Microsoft reported better than anticipated Q3 earnings on Thursday, powered by growth in its cloud products.
(Bloomberg) -- Atlassian Corp. Co-Chief Executive Officer Scott Farquhar is stepping down from the Australian software company he helped start more than two decades ago, a surprise move that rattled investors. Most Read from BloombergPlunging Home Prices, Fleeing Companies: Austin’s Glow Is FadingJavier Milei Fuels Wild Rally That Makes Peso No. 1 in WorldApple Intensifies Talks With OpenAI for iPhone Generative AI FeaturesThe Long, Slow Death of Urban NightlifeWall Street Humbled as Fast-Revers
Rubrik comes out of the gate hot on its IPO day, selling a story of protecting data in the age of AI.
(Reuters) -Walmart said on Thursday that Rob Walton, the longest serving member on its board and eldest son of founder Sam Walton, would retire from his position of the big-box retailer at the end of his term on June 5. Walton served as the company's chairman of the board of directors after his father died in 1992 and held the post until June 2015. Walmart also disclosed seven shareholder proposals in the regulatory filing, including some repeated calls for conducting an independent racial equity audit and human rights impact assessment in its supply chain.
Bianca Manley and Cécile Durieux have been named vice presidents — of women's communications, and men's and corporate communications, respectively.
On the face of it, Bank of America and Goldman Sachs annual shareholder meetings this week were uneventful—no blowout wins for long-shot proposals, no drawn-out battles with infamous activist funds. The two resolutions called on BofA and Goldman to implement policies to prevent the chief executive from also holding the title of board chair—both banks’ CEOs currently do—in the interest of sounder corporate governance and checks on power. While this has been a longstanding debate, what stands out is the increased support these proposals drew when shareholders’ votes were tallied on April 24.
Darktrace’s board said that its success is not reflected in its current valuations as its shares are trading lower than those of its peers.
Donald Trump’s aides have drawn up secret plans to oust the chairman of the Federal Reserve and allow the president to set interest rates, according to reports.
The property report includes 85 major metropolitan areas in the U.S. with populations of at least 750,000.