waltz disney Co. SAY 2.16% laid off more than 300 employees in Beijing who worked on its streaming services, according to people familiar with the situation, as part of an effort to cut costs and restructure the entertainment company. The layoffs in China come as Disney this week began making the first wave of job … Read more
He was the boss of a tech giant. Now he studies fish and rice. After appearing to fall out of favor with Chinese leaders following a 2020 speech he made criticizing financial regulation, Jack Ma, co-founder of Alibaba Group Holding ltd. generally kept a low profile. Far from the public eye, the 58-year-old multi-billionaire, who … Read more
Chinese e-commerce giant Alibaba Group Holding ltd. BABA 13.70% said it plans to split into six independently run companies that could seek separate IPOs, dismantling a business empire built over two decades by charismatic entrepreneur Jack Ma just as the tycoon reappeared in China . The reorganization of one of China’s largest private companies, once … Read more
Mickey Mouse has left the Metaverse. waltz disney Co. SAY 1.64% eliminated its next-gen customer experiences and storytelling unit, the small division that was developing metaverse strategies, according to people familiar with the situation, as part of a broader restructuring that is expected to reduce the number of employees of about 7,000 in the business … Read more
Lyft Inc., LYFT -2.74% struggling with competition and a falling stock price, is bringing in a board member as chief executive, and its two co-founders will step back from managing the company, the ride-hailing company announced Monday. David Risher, who has held senior positions at Amazon.com Inc. and Microsoft Corp. before launching a children’s reading … Read more
Jack Ma, Alibaba Group Holding ltd. ‘s, billionaire co-founder, returned to mainland China after spending about a year abroad, according to people familiar with the matter. Mr Ma’s travels have come under intense scrutiny as Chinese leaders seek to regain the trust of entrepreneurs after years of regulatory repression and Covid-19 pandemic measures that have … Read more
Bill Gates has said he thinks artificial intelligence is the most revolutionary technology he’s seen in decades, on par with computers, cellphones and the internet. “The development of AI is as fundamental as the creation of the microprocessor, the personal computer, the Internet and the mobile phone,” he wrote in a blog post on Tuesday. … Read more
Chief Executive Andy Jassy said in a statement that the company had recruited a significant number of employees in recent years, a step he defended as necessary given what was happening in Amazon’s business at the time. era. “Given the uncertain economy we reside in and the uncertainty that exists for the near future, we … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
Meta Platforms, parent company of Facebook Inc. created a tool to predict the structure of hundreds of millions of proteins using artificial intelligence. Researchers say promises to deepen scientists’ understanding of biology, and perhaps accelerate the discovery of new drugs. Meta’s research arm, Meta AI, used the new AI-based computer program known as ESMFold to … Read more
