Markets News 

Singapore bank expects China slowdown to hit growth in loans

“OCBC, the second-largest Singaporean bank by assets, reported a 9 percent increase in customer loans in 2018” writes Yen Nee Lee for cnbc.com. The Greater China region was the second-largest profit contributor for OCBC in 2018, after its home market Singapore.That growth rate is expected to moderate this year amid greater uncertainties in China and globally, said its CEO Samuel Tsien.The economic slowdown in China will affect Oversea-Chinese Banking Corp’s ability to grow its loans business this year, the lender’s chief executive said on Friday.Last year’s loan growth was 9…

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News 

AutoNation says Liebert to replace veteran Mike Jackson as CEO

“Liebert is currently the chief operating officer at financial services company USAA and will assume charge on March 11” reports businessinsider.com. Four senior AutoNation executives, including the chief operating officer, left the company as part of the restructuring in January. The company’s shares have more than tripled since Jackson became CEO in 1999 after the company’s founder Wayne Huizenga hired him from Mercedes-Benz USA, where Jackson was president.Jackson said last September that he will step down as CEO and will stay on as executive chairman of the board until 2021. Source:…

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News Stocks 

AutoNation misses revenue expectations, names new CEO

“Revenue fell to $5.41 billion from $5.68 billion, below the FactSet consensus of $5.63 billion, as new and used vehicle and parts and service revenue all missed expectations” writes Reporter Editor for marketwatch.com. AN, -1.87% reported a fourth-quarter drop in earnings and revenue fell more than expected, while naming a new CEO and implementing a restructuring plan. Source: marketwatch.com

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Crypto News 

Coinbase CEO Brian Armstrong Tackles Four ‘Myths’ About Crypto Custody

“Brian Armstrong, co-founder and CEO of United States crypto exchange and wallet Coinbase, has outlined what he believes to be four common misconceptions about crypto custody solutions” writes Marie Huillet for cointelegraph.com. Armstrong’s first argument tackles the perception that hot storage is always necessary to provide the flexibility and speed required to execute trades.Cold storage refers to a method of keeping crypto holdings and users’ private keys offline in order to safeguard against theft via a remote attack.Armstrong closes his article with a note about hot storage, writing: “With hot…

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News Platforms 

Alibaba CEO rules out layoffs this year

“Daniel Zhang, Chief Executive Officer of Alibaba Group Holding Ltd., attends the Alibaba Group’s 11.11 Singles’ Day global shopping festival in Shanghai Thomson Reuters SHANGHAI (Reuters) – Alibaba Group Holding Ltd expects to avoid layoffs this year despite China’s economic slowdown, CEO Daniel Zhang said on Friday” reports businessinsider.com. In November, Alibaba cut its full-year revenue forecast to between 375 billion yuan and 383 billion yuan ($54.4 bln-$55.6 bln), marking a 4-6 percent decrease from its initial target. Source: businessinsider.com

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News 

Zillow Group CEO Spencer Rascoff steps down as co-founder Rich Barton takes over at online real estate giant

“Rich Barton is back in the CEO seat at Zillow Group, taking over at the online real estate giant he helped launch 14 years ago” writes Taylor Soper for geekwire.com. During his 9-year tenure as CEO, Rascoff led Zillow through an IPO as the company grew from 200 to more than 4,000 employees.Barton, who co-founded Zillow in 2005 with Rascoff and Lloyd Frink, will return as CEO, a title he held during the company’s first five years.The Seattle-based company made an unexpected executive shuffle Thursday as longtime CEO and co-founder…

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News 

The CEO of Careem explains how the company is scaling up to beat Uber in a quickly growing market

“But scaling up a unicorn company in a region relatively removed from the world’s tech startup scene hasn’t been without its quirks” writes Graham Rapier for businessinsider.com. For now, Sheikha seems content with Careem holdings its own — and says the company has the cash and ambition to continue to grow.Multiple Careem drivers have been killed in recent months, and Sheikha spoke candidly about how the company is working to improve safety for both riders and drivers.Many Uber drivers in the US have complained there is often no direct way…

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News 

Zillow shares slide as Rich Barton returns as CEO

“Zillow shares dropped more than 2% after hours” writes Markets Reporter for marketwatch.com. Zillow said Rich Barton, who co-founded the company in 2005, has been named as CEO, a position he held until 2010 while co-founder Lloyd Frink will serve as executive chairman.The company also reported its fourth-quarter loss widened to $97.7 million from a loss of $77.2 million a year ago.Z, +0.60% fell in Thursday’s extended session after the real-estate marketplace announced a new chief executive and posted quarterly results. Source: marketwatch.com

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News 

The CEO of a recruiting-software company that works with Slack, Airbnb, and Venmo says you can reverse-engineer your job search to get the best offers possible

“What do you think the chances are that you’re going to get a job offer from both of those companies?” writes Shana Lebowitz for businessinsider.com. He said that, when one of these companies posts a job opening, they’re typically flooded with hundreds or even thousands of applications. Source: businessinsider.com

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