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Alibaba Group announced today that it will increase its stake in Alibaba Pictures from 49% to 50.92%, making it the loss-making movie production company's controlling shareholder. Under the agreement, Alibaba Pictures will issue one billion new shares, priced at HKD $1.25 each share for a total of HKD $1.25 billion (about $160 million), to Alibaba Group. The announcement of Alibaba Group’s new share purchases comes the week after Alibaba Pictures chairman and chief executive officer Fan Luyuan took charge of Youku, Alibaba Group’s video streaming unit, after its former president Yang Weidong stepped down.
Employer review website Glassdoor released its annual “Best Places to Work” report, consisting of the top 100 large companies to work for going into 2019.
Google heads to Washington, and everything else you need to know for the week ahead.
Files by Google (formerly Files Go) is helpful if you want an official means of managing the files on your Android phone, but there's been an obvious limitation: you couldn't move files to physical storage beyond the phone itself. Google has released an update to Files that introduces support for external storage using USB On-the-Go.
The terms of the agreement call for Tesla before the end of the month to have in place new oversight of his communications that might be considered material or cause movement of the company’s stock. Last month, Mr. Musk stepped down as chairman of Tesla as part of his settlement with the SEC. Tesla’s shares initially soared, only to plummet in subsequent days after it became clear Mr. Musk didn’t have a deal finalized.
BEIJING (Reuters) - Alibaba Group Holding Ltd said on Monday it will increase its stake in Hong Kong-listed Alibaba Pictures to 51 percent, taking control of the film unit's board. Alibaba Pictures will ...
Australia's competition watchdog on Monday recommended a new regulatory body be set up to monitor tech giants Facebook Inc and Alphabet Inc's Google and their dominance of the online advertising and news markets. The Australian Competition and Consumer Commission (ACCC) said in a preliminary report on the U.S. firms' market power that extra oversight was justified to ensure advertisers were treated fairly and the public access to news was unfettered.
Moody's Investors Service says that online financial services in China have grown rapidly, driven by the increased availability of third-party (non-bank) platforms, which are vehicles for making loans, especially to consumers and small businesses, and also function as distribution channels for financial products. "This growth supports financial deepening and increases access to financial services, thereby helping support China's continued economic expansion," says Lina Choi, a Moody's Vice President and Senior Credit Officer. "At the same time, online platforms have suffered relatively high default rates, leaving their stakeholders with substantial losses, but do not pose a significant threat to China's financial system stability because their lending accounts for only a small portion of total outstanding debt in the country," says Lillian Li, a Moody's Vice President and Senior Analyst.
Australia's competition regulator says it has five investigations afoot as a result of its examination of the market power and public influence of tech giants such as Facebook Inc and Alphabet Inc's Google. ...
In a preliminary report released Monday, the Australian Competition and Consumer Commission said a new or existing watchdog should investigate and monitor how large digital platforms rank and display adverts and news. “The ACCC considers that the strong market position of digital platforms like Google and Facebook justifies a greater level of regulatory oversight,” Chairman Rod Sims said in a statement.
“Market volatility has picked up again over the past few weeks. Headlines highlight risks regarding interest rates, the Fed, China, house prices, auto sales, trade wars, and more. Uncertainty abounds. But doesn’t it always? I have no view on whether the recent volatility will continue for a while, or whether the market will be back […]
The Tesla boss explains to Leslie Stahl on “60 Minutes” how the haters are missing the whole point when it comes to the future of his electric car company. He also talks about his childhood and the future of electric cars.
Alibaba Group Holding Ltd said on Monday it will increase its stake in Hong Kong-listed Alibaba Pictures to 51 percent, taking control of the film unit's board. Alibaba Pictures will issue one billion ...
to just over 50 per cent, giving it majority control just a week after it tapped the unit’s chief to jointly run its in-house digital entertainment unit. By raising its stake above the 50 per cent threshold Alibaba secures majority board representation and aims for greater integration between the loss-making movie company and its own digital entertainment business, which includes Youku.
Tesla CEO Elon Musk dismissed the idea that the company's new chairwoman can exert control over his behavior. Robyn Denholm, an Australian telecommunications executive, was appointed chairwoman of Tesla's board last month, replacing Musk as part of as part of a securities fraud settlement with U.S. government regulators. "It's not realistic in the sense that I am the largest shareholder in the company," Musk said in an interview with CBS' "60 Minutes," broadcast Sunday evening.