Check out these funny Subway photos that will put a smile on your face and make you want to get out that family photo album. -- China escalated its defense of the yuan by delivering a strong verbal warning to speculators and forceful guidance to investors with its daily reference rate, measures that pushed the managed currency away from a 16-year low.
NEW YORK — Stocks are opening higher as Wall Street recovers some of its losses from last week, with big technology companies again swinging with the most momentum. The S&P 500 was 0.7% higher in early trading Monday, coming off its first losing week in the last three. The Dow was up 194 points and the Nasdaq composite was up 0.9%. This week will offer a huge data point for the Federal Reserve, which is weighing whether to keep raising interest rates in its effort to drive down inflation.
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Former CEO of China's Alibaba quits cloud business in surprise move during its leadership reshuffleHONG KONG (AP) — The former CEO of Alibaba, Daniel Zhang, resigned as head of its cloud computing unit Monday in a surprise move as the Chinese e-commerce empire wraps up a leadership reshuffle. Alibaba said it will invest $1 billion in a technology fund Zhang will establish to support the firm’s strategies for future growth. Zhang stepped down on the same day he gave up his roles as Alibaba’s CEO and chairman. In a filing to the Hong Kong stock exchange, Alibaba said that Eddie Wu, its new CEO,
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Alibaba says Daniel Zhang steps down from cloud businessSHANGHAI (Reuters) - Alibaba Group said on Sunday that Daniel Zhang will step down as chairman and chief executive officer of its cloud business. Zhang ...
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China's Alibaba says Daniel Zhang quits cloud business in surprise moveSHANGHAI (Reuters) -China's Alibaba Group said on Sunday that Daniel Zhang will step down from its cloud business, in a surprise move just two months after the company announced he would leave his roles as group CEO and chairman to focus on the cloud unit. Zhang had previously been concurrently serving in three roles, heading the group as well as its cloud unit. As scheduled, he handed over the role of group CEO to Eddie Wu on Sunday, who will also take charge of the cloud business after Zhang's departure, the company said in a statement.
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