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Alibaba and the Wasteful Investment Bank DealIt is weird enough that an e-commerce company would want a stake in an investment bank. Even odder is the fact that Alibaba’s largest local tech rival, Tencent, has held a similar stake in CICC for two years.
Source: WSJ - 🏆 98. / 63 Read more »
Societe Generale reportedly plans to cut thousands of jobs at investment bankFrench bank Societe Generale is planning to cut thousands of jobs at its global banking and investor solutions unit, as it looks to offset cost pressure from regulation, Bloomberg reported. More to come... Healthy economy, huh?
Source: CNBC - 🏆 12. / 72 Read more »
Alibaba boosts stake in investment bank CICC for $231 millionChina's e-commerce giant Alibaba Group Holding Ltd has raised its stake in ... Jack Ma did not create $BABA , it was a Chinese government funded entity, he’s just the figure head, a nice looking guy who can speak English.
Source: Reuters - 🏆 2. / 97 Read more »
Lower market volume due to the holiday could lead to volatility, says UBS' Art Cashin'Little bit of a mild bumpy ride this morning,' Art Cashin discussed what he was watching in the markets this morning before stocks opened lower. Art Cashin is a fantastic guest! I really appreciate what he says. His experience makes all teh difference.
Source: CNBC - 🏆 12. / 72 Read more »