The $1.4 billion potential sales loss for the World's biggest brewery was compounded by a nearly 7% drop in sales in Hong Kong and further declines in China for its Asia business.
Industry
Alibaba Executive Will Step Down To Promote Younger Managers Amid Restructuring Efforts
Alibaba's Local Services Group (LSG) head, Yu Yongfu, will be leaving his role by March's end amid the company's restructuring, with younger leaders stepping up.
IBM Seeks Volunteers for Layoffs, Targeting 80% Reduction in Worldwide Staff
Asking staff to volunteer for layoffs is a way for IBM to reduce staff as part of its restructuring move, particularly in improving client demands.
Virgin Galactic to Pause Space Flights to Focus on Developing Its Next-Generation Delta-Class Spacecraft
Virgin Galactic has announced a pause in its space flights to redirect resources to developing its next-generation Delta-class spacecraft.
Electronic Arts to Cut 5% of Employees Amid Ongoing Layoffs in Gaming and Tech Sector
Electronic Arts has announced its plan to reduce its workforce by about 5%. Electronic Arts has announced its plan to reduce its workforce by about 5%, or roughly 670 employees, amid ongoing layoffs in the technology and gaming industry.
Latest News
The $15.2 billion investment in semiconductor plants, including Tata Group's $11 billion chip facility, will be part of India's tech advancement push and reduce import dependency.
According to US regulators, they will be investigating internal communications to see if OpenAI's CEO, Sam Altman, potentially deceived investors.
Backed by a $1.4 billion investment from Asia's richest man, Mukesh Ambani, Disney will likely end at the top of highest streaming profitability by 2024.
The cloud seeding program will deploy 30 aircraft across its 77 provinces as part of its annual royal rainmaking initiative to combat severe drought and escalating air pollution.
Despite her departure from the board, Winfrey vows to continue advocating for health equity and plans to donate her financial interest to the National Museum of African American History and Culture.
Oreo has unveiled two new flavors inspired by classic mud pie dessert and tiramisu. Oreo has unveiled two new flavors that will undoubtedly make its fans curious.
Apple CEO Tim Cook has unveiled the company's significant investments in generative AI during the firm's annual shareholder meeting.
Armani Ferrante made the crypto wallet and exchange venture successful as he raised $17 million in funding to aid global expansion and regulatory compliance as the exchange witnesses growing trading volumes.
SCB X's acquisition of Home Credit's business in Vietnam for US$860 million will help its regional presence in a tech-savvy population.
