News Highlights: Top Company News of the Day - Wednesday at 7 AM ET
24 January 2024 - 12:30PM
Dow Jones News
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
January 24, 2024 07:15 ET (12:15 GMT)
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