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Alibaba buys Chinese chipmaker to aid internet of things business after ZTE ban

“E-commerce titan Alibaba Group Holding Ltd has bought a Chinese microchip maker to further its cloud-based “internet of things” (IoT) business, underscoring its commitment to the chip industry, an Alibaba spokeswoman said on Friday” writes unknown author for cnbc.com. Alibaba did not disclose the terms of the acquisition – the firm’s first involving a chipmaker.”The acquisition of Hangzhou C-SKY Microsystems, a leading Chinese supplier of embedded CPU cores, underlines our commitment to driving the development of the chip industry,” she said, referring to central processing units. The person did not…

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What inspired Kate Hudson to take on Fabletics — and how she’s dealt with taking business risks

“Actor Kate Hudson is not only a success in Hollywood, she’s now a trailblazer in business too” writes Michael Buckner for cnbc.com. Having co-founded Fabletics in 2013, Hudson’s athleisure brand is already a sporting phenomenon with more than 1.2 million people having signed up to its business model worldwide. Source: cnbc.com Share This:

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G.E. Earnings Show Some Signs of a Turnaround

“In its jet engine business, revenue rose 7 percent, to $7.11 billion, and operating profits rose 26 percent to $1.60 billion” writes Steve Lohr for nytimes.com. But G.E.’s revenue from its industrial operations, excluding acquisitions and currency swings, fell 4 percent, to $23.8 billion.Flannery warned the that it might take a year or two to fix the power business, prompting G.E. to cut its dividend for only the second time since the Great Depression.G.E.’s power turbine business remains weak, with revenue down 9 percent, to $7.22 billion, and orders down…

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GE profit beats expectations despite weakening power business

“General Electric posted higher profit than Wall Street expected as cost cuts in its power business softened the impact of weakening sales” writes Michael Nagle Bloomberg for washingtonexaminer.com. GE reaffirmed its full-year profit target of $1 to $1.07 a share, with industrial cash flow of as much as $7 billion, a key concern for shareholders including activist Trian Partners. The CEO said in January that he expects to continue shrinking GE Capital, the once-sprawling lending arm that also houses the insurance business, which his predecessor began winding down in 2015. Source:…

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Moya Greene to retire as Royal Mail boss

“Royal Mail boss Moya Greene is to stand down later this year after eight years in charge of the company that saw her steer it through a controversial privatisation and settle a long-running pensions dispute with workers” writes Jon Yeomans for telegraph.co.uk. Ms Greene, 63, will step down from Royal Mail’s board in July and remain with the company until September 14.Mr Back will be supported by Sue Whalley, another senior Royal Mail exec who will be promoted to chief executive of the company’s UK post and parcels business.The Canadian executive,…

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The Morning Ledger: Trade Spat Affects U.S., Chinese Tech Companies

“The Morning Ledger from CFO Journal cues up the most important news in corporate finance every weekday morning” writes Nina Trentmann Wsj for wsj.com. China’s government wants Alibaba Group Holding Ltd. and other Chinese tech giants listed abroad to trade on the nation’s stock markets.Xerox Corp. defended its chief executive against accusations from one of its biggest investors Thursday, saying Jeff Jacobson had proper board authority to negotiate a deal with Fujifilm Holdings Inc.Executives at U.S. and Chinese technology firms are faced by new challenges, as the trade spat between Washington and Beijing…

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P&G’s vitamin boost could signal more to come

“P&G was in talks with Pfizer about buying the U.S. drugmaker’s consumer health business, CNBC reported earlier this month” reports businessinsider.com. A spokeswoman for P&G declined to comment on the company’s strategy to expand its vitamins, minerals and supplements business. Bernstein analysts noted that the Pfizer business “may still be an acquisition candidate (for P&G) since it doesn’t seem to raise anti-trust concerns on the surface.”. P&G already owns consumer health brands including Vick’s, Metamucil and Pepto-Bismol. Source: businessinsider.com Share This:

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A soft spot in Amazon’s core business will surprise investors in Q1, but Wall Street will have a bigger reason to celebrate

“Both estimates are shy of the 20% core retail growth and 22% expanded retail sales growth that the Street is expecting” writes Troy Wolverton for businessinsider.com. Amazon’s retail sales likely fell short of Wall Street targets during the first quarter, reckons Piper Jaffray analyst Michael Olson.Adding in subscription revenue and advertising sales, Amazon’s retail business likely grew at about a 21% clip year-over-year in the period he said.Olson’s cautious view on Amazon’s retail business during the first quarter comes from Piper Jaffray’s search analysis.But he said there’s good reason to believe…

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