Alibaba Shares Rise as Co-Founders Buy Stock

Alibaba Group shares rose on news that co-founders Jack Ma and Joe Tsai bought about $200 million of the company's stock in the latest quarter, giving the Chinese tech giant some welcome news amid a monthslong slide. 


 
Apple Plans New Fees and Restrictions for Downloads Outside App Store

Meta, Spotify and other companies are weighing new options for customers as Apple makes changes to comply with a new European law. 


 
Netflix Delivers Another Smackdown

The streaming leader cemented its position with a strong boost in subscribers while the advertising contribution remains small. 


 
SAP Launches AI-Focused Restructuring

SAP said it would undertake a roughly EUR2 billion restructuring this year that will affect 8,000 jobs as it ratchets up its focus on business-related AI. 


 
Siemens Energy First Quarter Beats Forecasts

Siemens Energy forecast an underlying profit margin of between negative 2% and positive 1% for the fiscal year, after it reported preliminary first-quarter results that it said exceeded market expectations. 


 
Country Garden Seeks to Raise Over $500 Million in Asset Sales

Troubled Chinese property developer Country Garden Holdings is seeking to sell a host of properties in Guangzhou city to raise up to $534.5 million, amid its efforts to restructure billions of dollars in offshore debt. 


 
Shein Faces Scrutiny From All Sides. Its IPO May Hit Snags.

The online fast-fashion company is dealing with a range of issues both in China and in the U.S. 


 
Ebay to Lay Off 9% of Full-Time Workforce

The online marketplace will lay off about 1,000 full-time employees, part of efforts to boost performance at a time of rising competition and softer consumer spending. 


 
United Puts Boeing on Notice. It's Looking at Other Jets.

United Airlines management expressed frustration with Boeing on its fourth quarter earnings conference call on Monday. 


 
Woodside Energy Merger Talks With Santos Reflect Asia LNG Expectations, CEO Says

Woodside Energy's pursuit of a combination with Santos to create a global energy giant worth over $50 billion is a bet that demand for liquefied natural gas will remain strong, said Chief Executive Meg O'Neill.


(END) Dow Jones Newswires

01-24-24 0715ET