PRESS DIGEST-Wall Street Journal - March 12
March 12 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
- Alibaba Group's media and entertainment arm will spend about $640 million to promote movies, television dramas and creative events in Hong Kong over the next five years.
- China's Xiaomi said on Tuesday it will start deliveries of its first electric vehicle (EV) model SU7 on March 28.
- Chinese electric-vehicle maker BYD is facing challenges in its overseas expansion and executives said the company was unlikely to achieve the leadership's internal target of selling 400,000 cars outside China this year.
- Alcoa will buy Alumina in an all-stock deal that values the Australian firm at $2.2 billion, and makes the U.S. company one of the world's largest producers of alumina and bauxite.
- Nigeria detained two Binance senior employees, an American and a British-Kenyan national, and accused the crypto exchange of undermining the nation's currency.
- Advance Auto Parts is appointing three new board members after hedge funds Third Point LLC and Saddle Point Management took positions in the automotive afterparts provider, the company said.
(Compiled by Bengaluru newsroom)
