Alibaba’s landmark restructuring has sent its shares soaring in New York and Hong Kong, as investors bet on the return of regulatory support for China’s tech industry and private businesses after more than two years of a brutal crackdown. But the nature of the overhaul, in which the internet conglomerate will split its business into… Continue reading Alibaba’s restructuring and Jack Ma’s homecoming are all part of China’s plan
Author: Noah Smith
Bank of England on high alert as investors ‘test’ banks
Bank of England governor Andrew Bailey has said investors are hunting for “points of weakness” in banking, as fears linger that the crisis in the sector could engulf more lenders. On Monday, European bank shares rose, boosted by news that First Citizens Bank in the United States would buy most of the assets of Silicon… Continue reading Bank of England on high alert as investors ‘test’ banks
US consumer confidence improved in March
Confidence in the US economy ticked up in March, despite the sudden turmoil in the banking industry, according to the latest report from the Conference Board. The business group’s Consumer Confidence Index increased to 104.2 in March from an upwardly revised reading of 103.4 the month before. Economists were expecting a reading of 101, according… Continue reading US consumer confidence improved in March