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.
Industry
Sony Buys 50% Of Michael Jackson's Music Catalog For $600 Million
Sony Music Group's record-breaking deal with Michael Jackson's catalog, valued at over $600 million, makes it the largest ever for a solo musician, encompassing hits from albums like Bad and tracks by other artists.
Apple Allocates $73 Billion For AI Development, Competing With Microsoft AI
Apple is shifting its focus from its decade-long car project to investing $73 billion in Apple AI, aiming to challenge Microsoft’s AI leadership, with plans to unveil generative AI-based tools at WWDC in June.
KeokeN Interactive Conducts Job Cuts as Layoffs in Tech and Gaming Sector Continue
KeokeN Interactive recently underwent a round of layoffs, affecting a small portion of its workforce.
AstraZeneca’s Lawsuit Challenging Medicare Drug Price Negotiations Dismissed by Judge
A federal judge in Delaware has dismissed AstraZeneca's lawsuit challenging Medicare's new power to negotiate prices directly with drug manufacturers.
Latest News
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 has announced a pause in its space flights to redirect resources to developing its next-generation Delta-class spacecraft.
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.
Dell Technologies witnessed a surge of over 15% in its shares following the release of its fourth-quarter results.
Apple permitted occasional discounts to their iPhone 15 models in China to stimulate demand as competition with other brands intensified.
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.
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.
