Business

Alibaba CEO Zhang to succeed Jack Ma as chairman

Alibaba CEO Zhang to succeed Jack Ma as chairman

Zhang had previously served as Taobao's chief financial officer, president of Tmall.com and as Alibaba's chief operating officer before succeeding Jonathan Lu as chief executive. His retirement as executive chairman will coincide with his 55th birthday. Since handing over the CEO role, Ma has concentrated on philanthropy and promoting Alibaba internationally at business and political events.


Canada loses over 51,000 jobs in biggest drop in nearly a decade

Canada loses over 51,000 jobs in biggest drop in nearly a decade

Employment fell by 52,000 last month, counteracting almost all of the gains in July and pushing the unemployment rate up 0.2 points to six percent, according to the report. Economists had expected an increase of 5,000 jobs for August and the unemployment rate to be 5.9 per cent, according to Thomson Reuters Eikon. Last month's drop, fuelled by the loss of 92,000 part-time positions, largely eliminated July's healthy net increase of 54,100 positions.


CBS CEO Moonves negotiating exit with board - 9/6/2018 2:07:22 PM

CBS CEO Moonves negotiating exit with board - 9/6/2018 2:07:22 PM

The talks have reportedly been happenign for a while, as there has been no definite decision about his exit package. If sexual harassment allegations against Moonves are confirmed, the company would likely seek to claw back even more compensation.


South Korea Post Service Seeks Know-How Of Cryptocurrency From Goldman Sachs

South Korea Post Service Seeks Know-How Of Cryptocurrency From Goldman Sachs

The sudden drop in cryptocurrency prices has seen the market lose the gains it has gathered over the past few weeks. "And in the commodities market, there's many ways to participate". The firm has planned to allow clients to trade bitcoin as a non-deliverable forward, where there is no physical exchange of the underlying asset but an exchange of the currency it is quoted in - likely United States dollars - on the settlement date of the forward.


Bernie Sanders Proposes the ‘Stop BEZOS’ Act to Mitigate Wasted Federal Assistance

Bernie Sanders Proposes the ‘Stop BEZOS’ Act to Mitigate Wasted Federal Assistance

Anecdotes shared by current and former Amazon employees corroborate these findings. Thousands of Amazon workers have to rely on food stamps, Medicaid and public housing to survive. The most troubling potential effect, in Bernstein's opinion, is that the Stop BEZOS Act could further the stigmatization of worker benefits. For full-time employees alone, the median income at Amazon is $34,123.


Burberry Will No Longer Destroy Unsold Products Or Use Real Fur

Burberry Will No Longer Destroy Unsold Products Or Use Real Fur

The practice is common among designer labels which do not want their brand to be devalued by products being discounted in unofficial outlets. The company, whose brand ambassadors have included actress and model Cara Delevingne and former Doctor Who Matt Smith, now says it will reuse, repair, donate or recycle all unsaleable products.