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Business

“Alibaba sheds over $20 billion in market value after scrapping plans to list its cloud business”

November 17, 2023

“…“Instead, we will focus on developing a sustainable growth model based on emerging AI-driven demand for networked and highly scaled cloud computing services,” Alibaba CEO Joe Tsai said on the company’s investor call Thursday… The development highlights how Alibaba, one… Continue Reading…

Business

“Nestle plans price hikes after inflation eats into profits”

February 16, 2023

“The world’s biggest food group Nestle will raise prices further this year, Chief Executive Mark Schneider said on Thursday, after more expensive ingredients contributed to full-year net profit missing analyst expectations…. The maker of Nescafe instant coffee and KitKat chocolate… Continue Reading…

Banking, Business, Economy

“SoftBank plans at least 30% staff cuts to Vision Fund, source confirms”

September 29, 2022

“SoftBank is planning to cut at least 30% of staff at its ambitious investment arm, the Vision Fund, a source confirmed to CNBC. At least 150 out of 500 Vision Fund workers will be impacted by the cuts, according to Bloomberg,… Continue Reading…

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