BYD defers US debut, Alibaba split sparks layoff concerns, Apple launches much-anticipated ‘pay later’ service: Today’s top stories
Bloomberg
Tesla’s Chinese rival BYD delays US debut for weeks after slashing shift timings at China plants
BYD Co., Ltd., (OTC: BYDDF) (OTC: BYDDY) does not propose to enter the US passenger car market for now, said founder Wang Chuanfu.
In the post-earnings briefing on Wednesday, Sugar Tesla, Inc. (NASDAQ: TSLA) rival said its home market of China has already entered a “full-scale expansion phase” for new-energy vehicles.
Recently, BYD reduced shifts at two auto assembly plants in China, reflecting weak demand in the largest auto market. BYD has also been slowing production since the beginning of the year as industry-wide sales began to stall, and China ended a national subsidy program for EVs.
nikki asia
Alibaba split raises layoff concerns, CEO Zhang weakens authority as he fails to raise share price
Alibaba Group Holding Limited (NYSE: BABA)’s latest business restructuring has sparked employee fears of layoffs.
The March 28 report suggested that Alibaba would reorganize its businesses into six independently run entities: Cloud Intelligence Group, e-commerce under Taobao-Tmall, Cainiao’s smart logistics operations, Local Services Group, Global Digital Business Group and Digital Media & Entertainment Group.
Alibaba’s shift away from its centralized structure raised concerns among some of its roughly 240,000 employees after it slashed its workforce by about 20,000 in 2022.
benzinga
Apple finally launches the much-anticipated ‘Pay Later’ service: Here’s everything you need to know
After much delay, Apple Inc (NASDAQ:AAPL) finally has its “Apple Pay Later“Service in America”
Apple has released its own “buy now, pay later” style service, allowing consumers to split any Apple Pay purchase into four equal installments over six weeks without paying additional interest or fees.
Consumers can track, manage and repay their Apple Pay Later loan iPhone’s purse app and borrow $50 to $1000.
Users want answers as Google Drive’s ‘secret’ 5M item limit triggers outcry
alphabet inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Drive Users have recently raised concerns about the implementation of the five-million item limit, resulting in lost access to files for some users despite having storage space.
on monday a reddit The user posted a thread saying that Google had put a limit of five million items on Google Drive accounts without any prior notice.
The Redditor said users started receiving “upload failed” notifications on February 14.
Microsoft uses OpenAI’s latest GPT-4 for cyber security solutions
Microsoft Corporation (NASDAQ: MSFT) launched Microsoft Safety Co-Pilot bringing on tuesday OpenAI latest GPT-4 Generative AI for Cyber Security.
With CoPilot, defenders can quickly detect and respond to threats and better understand the overall threat landscape.
Security Copilot will integrate Microsoft’s vast Threat Intelligence footprint with expertise to enhance the work of security professionals through an easy-to-use AI assistant.
UBS appoints ex-CEO to oversee Credit Suisse takeover
UBS Group AG (NYSE: UBS) has appointed Sergio Ermotti as Group Chief Executive Officer and Chairman effective April 5, 2023. He will replace Ralf Hammer, who has agreed to step down.
UBS said Mr Hamers, who has been in his role since November 2020, has agreed to step down “to serve the interests of the new combination, the Swiss financial sector and the country.”
Sergio Ermotti served as Chief Executive Officer of UBS for nine years.
Federal authorities sue Walmart for firing an employee with Crohn’s disease
The US Equal Employment Opportunity Commission is reportedly suing Walmart Inc (NYSE: WMT) to lay off a North Carolina employee with Crohn’s disease.
Walmart reportedly denied the employee disability-related leave.
The EEOC complaint accuses Walmart of violating the Americans with Disabilities Act in its treatment of the worker.
wall street journal
Ryan Cohen’s plans for GameStop keep shrinking
Gamestop corp (NYSE: GME) recently reported its first profit in two years, with fourth-quarter revenue of $2.23 billion, which beat average analyst estimates of $2.18 billion, and adjusted earnings per share of 16 cents. earnings, which beat analyst expectations for a loss of 13. cents per share.
The positive earnings surprise marks GameStop’s first profitable quarter since 2021.
Ryan Cohen took over GameStop in 2021, aiming to turn the struggling videogame retailer into an e-commerce behemoth.
cnbc
Dollar General in settlement talks regarding workplace safety violations
Dollar General Corp. (NYSE:DG) is reportedly in settlement talks with federal regulators after being accused of violating workplace safety rules.
A spokeswoman for the Occupational Safety and Health Administration (OSHA) said the review would be conducted in accordance with “mandatory settlement proceedings” rules before the commission.
The discount retailer was accused of exposing workers to fire hazards, raising safety concerns, the report said.
reuters
Adidas walks back protest over Black Lives Matter three-stripe design
adidas AG (OTC: ADDYY) has reportedly withdrawn its request to the US Trademark Office to reject the Black Lives Matter trademark for three parallel stripes.
The decision has been taken out of concern that people may mistake the sportswear maker’s trademark objection as opposition to Black Lives Matter’s mission.
“Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation’s trademark application as soon as possible,” the report quoted the company as saying.
BYD photo via Company
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