Alibaba Says Chairman and CEO Daniel Zhang Will Be Replaced
Alibaba is reshuffling its top executives, with current Vice Chairman Joseph Tsai taking over as chairman from Daniel Zhang while the head of its domestic e-commerce unit was named CEO.
Stellantis, Foxconn Form Chip Venture
Stellantis and Foxconn are joining forces to create a new equally-owned business that will sell semiconductors to the automotive industry, particularly for EVs.
Airbus Sells 500 Jets to India’s IndiGo in Record Aircraft Deal
The $50 billion agreement, at list prices, opens the Paris Air Show as air travel surges.
Internal JPMorgan Report Provides New Details on Bank’s Ties to Jeffrey Epstein
The report concluded in 2019 that Epstein regularly gave personal and business advice to Jes Staley and set up meetings with foreign government officials.
Silicon Valley’s Newest Unicorn Is a Mining Company
Bill Gates and other tech-industry investors are backing AI-powered startup KoBold Metals.
Artificial Intelligence May Eliminate Some Jobs, OpenAI Executive Says
AI could potentially create some jobs too, the artificial-intelligence company’s chief operating officer, Brad Lightcap, said.
Berkshire Boosts Stakes in 5 Japanese Trading Companies
Berkshire now holds an estimated $20 billion of the five companies after sharp gains in their share prices.
After Bud Light Debacle, AB InBev Takes a Bow at Ad-Biz Oscars
The brewer is at the Cannes Lions to collect its second annual marketer-of-the-year honor, calling recent controversy around a Bud Light promotion a “wake-up call” for the industry.
Israel’s Netanyahu Touts Expanded Investment by Intel
The prime minister’s announcement comes amid protest from the country’s tech industry over his plan to overhaul Israel’s judiciary.
SVB Clients Who Lost Deposits Remain on the Hook for Loans
Customers of Silicon Valley Bank’s Cayman Islands branch who counted on using their deposits to repay credit lines are in a bind after the FDIC seized the funds.
Source: Dow Jones Newswires